Insurance Blog

Dispute Concluded with Centre Insurance Company (PR Newswire via Yahoo! Finance) QMed, Inc., today announced that HeartMasters LLC, a limited liability company in which QMed’s IHMC subsidiary is a member, together with The Regence Group, entered into a settlement agreement resolving their dispute with Centre Insurance Company. Solon wants probe on insurance ‘consortiums’ (Sun Star) REPRESENTATIVE Manuel “Way Kurat” E. Zamora of Compostela Valley Friday urged an investigation into the move of the Insurance Commission (IC) to establish “consortiums” of non-life insurance companies purportedly to professionalize the issuance of Comprehensive and Third Party Liability insurance coverage of vehicles, customs bonds, marine insurance and other related services. Lilly sues 5 insurers over drug liability (Fort Wayne Journal Gazette) INDIANAPOLIS Eli Lilly and Co. wants its insurers to cover nearly half of the $1 billion the drug maker has set aside to pay product-liability claims involving its top-selling drug, the anti-psychotic treatment Zyprexa.

Tens of thousands in Gulf Coast may be without flood insurance (Knight Ridder via Yahoo! News) WASHINGTON – Six in 10 homeowners and businesses in areas hardest hit by Hurricane Katrina may lack flood insurance, meaning that tens of thousands of displaced property owners may get little money to cover losses or repairs. Answer filed in Hoge suit (Wapakoneta Daily News) Attorneys for the village of New Bremen’s insurance company seeking to recover damages to village property in the 2003 explosion at Hoge Lumber Company say the lawsuit should go to trial because the lumber company’s president should have warned firefighters that an explosion could occur. Insurers tally Katrina’s cost (The Age) A RISK management firm has offered the first estimate of economic losses from hurricane Katrina $US100 billion ($A131 billion) and said that private insurance would probably cover less than a quarter of that. Federal money and charitable contributions may need to do the rest.

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