Affiliates of insurer Chubb Ltd on Tuesday said bankrupt opioids manufacturer Insys Therapeutics Inc wrongly included potential claims against them among its assets in its disclosures of its Chapter 11 bankruptcy plan. Chubb has refused insurance payouts for bankrupt opioid manufacturer Insys Therapeutics, after affiliates of the insurance company said it had wrongly included claims against them as assets when it made its Chapter 11 disclosures. The insurer is also refusing to pay out money from a settlement with the U.S. Justice Department over alleged violations by pharmaceutical companies that have been accused of inflating drug prices.
Chubb has refused insurance payouts for bankrupt opioid manufacturer Insys Therapeutics, after affiliates of the insurance company said it had wrongly included claims against them as assets when it made its Chapter 11 disclosures. The insurer is also refusing to pay out money from a settlement with the U.S. Justice Department over alleged violations by pharmaceutical companies that have been accused of inflating drug prices.