Insurance
Top stories summarized by our editors
1/27/2020

McKesson's board has agreed to a $175 million settlement to resolve accusations from investors that the directors failed to implement adequate internal systems to prevent suspicious opioid shipments. The drug distributor also agreed to separate the role of board chairman and CEO to strengthen its corporate-governance protections.

1/27/2020

A Rosenblum Law analysis of states' efforts to curb distracted driving found Oregon with the toughest laws against such behavior. Montana, meanwhile, is the only state with no statewide legislation on distracted driving.

1/27/2020

Cleanup and repairs are underway after Friday's explosion at Watson Grinding and Manufacturing in Houston left two employees dead and damaged about 200 homes. Rain over the weekend worsened the damage to some of the homes, and Houston Fire Chief Samuel Pena said city inspectors might designate some of the affected properties as uninhabitable.

1/27/2020

A proposed settlement between Pacific Gas and Electric and its bondholders would yield secured debt to replace $21.5 billion in unsecured debt, giving bondholders collateral rights over utility operations. Meanwhile, US District Judge William Alsup said he might require PG&E to meet wildfire-mitigation targets before it can provide bonuses and other incentives to supervisors.

1/27/2020

Researchers found that adolescents who used bongs or joints to smoke marijuana and those who used marijuana concentrates had a sixfold increased likelihood of continuing marijuana use after six months and 12 months, compared with those who consumed marijuana through other means. The findings in JAMA Network Open also showed that those who took cannabis concentrates once or twice during the past month at baseline consumed such products 9.42 more days per month on average at follow-up.

1/27/2020

Iowa, Kansas, Missouri, Nebraska and the US Army Corps of Engineers will conduct a $400,000 study to examine options for better flood mitigation along the Missouri River. The study will collect information about water flow that could influence the Corps' management of reservoirs in the Missouri River Basin.

Full Story:
The Associated Press
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US Army Corps of Engineers
1/27/2020

Accelerated underwriting has the potential to revolutionize the life insurance industry, Chris Stehno, a Deloitte analyst, told the National Association of Insurance Commissioners' Accelerated Underwriting Working Group. Accelerated underwriting can cut down on the time agents spend selling a policy and lead to more smaller amounts of life insurance being sold.

1/27/2020

While most long-term-care insurers have their interest rate exposure under control, some remain too optimistic about the possibility of interest rate increases, according to Fitch Ratings analysts. That could lead to the need for some companies to add to their cash reserves, the analysts said.

1/24/2020

The timing of a stock market drop can greatly affect a retirement portfolio, with losses earlier in retirement being particularly harmful, writes advisor David Nicholas. To mitigate the effects of a market downturn, he advises relying less on stocks for income in retirement and segmenting money into three "buckets" -- one for liquidity, one for income and one for growth.

Full Story:
Kiplinger online
1/24/2020

The total value of insurers' mergers and acquisitions in the fourth quarter of 2019 was $12.5 billion, increasing from $2.2 billion in Q4 2018 and reaching the highest amount since Q1 2018, PwC said in a report. PwC said 2020 is likely to bring "robust" insurance M&A activity "driven by high levels of deployable capital among private equity and corporate buyers."

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PwC