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Archive: September 2022

Centene to Pay Texas $165 Million in Medicaid Drug Pricing Settlement
Insurance Journal | September 20, 2022
Centene to Pay Texas $165 Million in Medicaid Drug Pricing Settlement
Health insurance giant Centene Corp. has agreed to pay $165.6 million to Texas to resolve claims that it overcharged the state’s Medicaid program for pharmacy services. It’s the biggest known payout by the nation’s largest Medicaid insurer over its drug …
Federal Court Rules in Favor of Texas Law on Social Media Regulation
Insurance Journal | September 20, 2022
Federal Court Rules in Favor of Texas Law on Social Media Regulation
A federal appeals court Friday ruled in favor of a Texas law targeting major social media companies like Facebook and Twitter in a victory for Republicans who accuse the platforms of censoring conservative speech. But the decision by the 5th …
People Moves: Distinguished Programs Names Walters to Real Estate Group; Alera Appoints McCormack as Director of Market Relations
Insurance Journal | September 20, 2022
People Moves: Distinguished Programs Names Walters to Real Estate Group; Alera Appoints McCormack as Director of Market Relations
Distinguished Programs Appoints Walters to Small Urban & Transitional Real Estate Group Distinguished Programs, a New York, New York-based national insurance program manager, has appointed Matt Walters as business development manager. His new role will support Distinguished’s builder’s risk, city …
People Moves: Chubb Global Mkts Promotes Jackson as Product Head of Mgmt Liability; Pesci Rejoins WTW in EMEA Reserving; IQUW Taps Beazley’s Bell, Brown for Property
Insurance Journal | September 20, 2022
People Moves: Chubb Global Mkts Promotes Jackson as Product Head of Mgmt Liability; Pesci Rejoins WTW in EMEA Reserving; IQUW Taps Beazley’s Bell, Brown for Property
This edition of International People Moves details appointments at Chubb Global Markets, the broker WTW and the property and specialty re/insurer IQUW. A summary of these new hires follows here. Chubb Global Markets Promotes Jackson as Product Head of Mgmt …
Hurricane Fiona Moves North With Up to $4B Economic Damages Estimated Already
Insurance Journal | September 20, 2022
Hurricane Fiona Moves North With Up to $4B Economic Damages Estimated Already
Hurricane Fiona strengthened as it moved away from Puerto Rico and the Dominican Republic where it knocked out power and spawned flash floods and landslides from torrential rains. (Editor’s Note: This article contains was updated on Sep. 19, 5:50 p.m. …
Flood Waters Receding After Storm Batters Western Alaska
Insurance Journal | September 20, 2022
Flood Waters Receding After Storm Batters Western Alaska
Floodwaters were receding in parts of western Alaska battered by the worst storm in a half century, leaving behind debris flung by powerful Bering Sea waves into beaches and seaside communities. The remnants of Typhoon Merbok were weakening as the …
Missing Woman Found After Southern California Mudslides
Insurance Journal | September 20, 2022
Missing Woman Found After Southern California Mudslides
A woman who went missing after recent flash floods unleashed mudslides that swept through her town in the Southern California mountains has been found dead under a pile of mud, rocks and other debris, authorities said. Thunderstorms late Monday triggered …
AIG Life/Retirement Unit Corebridge Valued at $13B
Insurance Journal | September 20, 2022
AIG Life/Retirement Unit Corebridge Valued at $13B
Shares of Corebridge Financial Inc opened 2 percent below the IPO price in their New York Stock Exchange debut on Thursday, giving the company a valuation of $13.2 billion, dimming hopes of a revival in U.S. listings as market turmoil …
Auto Loss Costs Not Coming Down; Bigger Rate Hikes Ahead: Allstate CEO
Insurance Journal | September 20, 2022
Auto Loss Costs Not Coming Down; Bigger Rate Hikes Ahead: Allstate CEO
Higher auto loss costs are here to stay, according to the leader of Allstate, who also said that his company will be pushing up auto insurance prices higher, and at a faster pace, for the balance of the year. Speaking …
More Coaches Named in South Carolina Cheerleader Abuse Lawsuit
Insurance Journal | September 20, 2022
More Coaches Named in South Carolina Cheerleader Abuse Lawsuit
A lawsuit alleging the rampant sexual abuse of underage athletes at a competitive cheerleading gym in South Carolina has been amended to name six more coaches as defendants and three more accusers. The accusers — now seven female and two …