A US judge has authorized Purdue Pharma to continue operating as it seeks bankruptcy protection and the settlement of more than 2,600 lawsuits concerning its role in the opioid epidemic. Keeping the company in business is seen as an essential part of the settlement.
Selling life insurance to friends and relatives is the "foundation of business-building for new agents," according to Nate Richardson of Bankers Life. These agents are likely to understand the needs of their loved ones better than other financial professionals, he says.
Florida's assignment-of-benefits overhaul does not apply to auto glass claims, which have shown no signs of decelerating since the state adopted the AOB legislation, Florida Insurance Commissioner David Altmaier told a state Senate committee. Meanwhile, about 12% of insurance claims related to Hurricane Michael remain open, he said.
Veoneer, a Sweden-based auto technology company, said it will produce a thermal camera for an autonomous vehicle under a contract with an unidentified automaker. "It's the first time, as far as we know, that a carmaker has made the decision to include thermal cameras as a sensor on self-driving cars," company spokesman Thomas Jonsson said.
Parts of southwestern Louisiana and southeastern Texas are at risk of flash flooding from Imelda, which was a tropical depression as of this morning. Sargent, Texas, received more than 17 inches of rain overnight, and the storm is also dropping heavy rain in the Houston area.
Pacific Gas and Electric has expanded training for tree inspectors, adopted lidar technology to improve power line maps and implemented competency assessments for its contractors as it addresses concerns about its wildfire-prevention efforts, lawyers representing the California utility said in court on Tuesday. A federal monitor's report said PG&E failed to keep accurate records and overlooked thousands of trees that might have posed risk to its power lines.
Risk Management Solutions said US insured losses stemming from Hurricane Dorian likely will range from $500 million to $1.5 billion. Overall insured losses from the storm are estimated at $4 billion to $8.5 billion, RMS said.
California's notice-prejudice rule can take precedence over a choice-of-law clause in a first-party pollution insurance policy, the state Supreme Court has determined. The decision came in a case in which a college sought coverage for remediation of contaminated soil found while building a dormitory.
This year's open enrollment period for Medicare, Medicare Advantage, Part D prescription drug plans and supplemental plans runs from Oct. 15 through Dec. 7. Retirees who don't enroll when they turn 65 might be charged penalties.
NAIFA's Performance + Purpose conference attendees got a chance to work with an Orlando-based non-profit on several charitable projects, including putting together food kits for residents of the Bahamas affected by Hurricane Dorian. "Helping people is in NAIFA members' blood, so partnering with Hands on Orlando while we are in town is a natural fit," said NAIFA President Jill Judd.
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