"A captive insurance company is established, for example, when a corporation develops a subsidiary, which is licensed in Vermont, and uses it to provide various types of insurance to the corporate parent.... Medical malpractice is one of the most quickly growing fields for the industry..."Bermuda and the Cayman Islands are the only two locales that are more active than Vermont in the captive insurance market.
Aug 19, 2008
Aug 15, 2008
"Diana Levine, a professional guitarist who lost an arm to gangrene after a receiving a shot to treat a migraine headache in 2000.See the full article here: Plaintiffs' Lawyers Fight Restrictions On Product-Liability Suits
Ms. Levine won $6.8 million in her lawsuit against Wyeth, which makes the antinausea drug, phenergan, that was given to her. A Vermont jury and that state's Supreme Court found that Wyeth hadn't sufficiently warned the public and doctors about the drug's dangers if improperly injected.
Wyeth has argued that the company is protected because the Food and Drug Administration had approved its label. The government is supporting Wyeth's position, on behalf of the FDA."
Aug 10, 2008
Wyeth claims its product was sufficiently labeled, which included warnings about the potential risk of gangrene if the drug was improperly injected. The company has since appealed the case to the Supreme Court, creating a potential landmark ruling that would make it easier for drugmakers to protect themselves from product liability lawsuits. That’s because the majority of lawsuits against drugmakers involve the same issue, whether or not the company had proper warnings on its label. The Food and Drug Administration (FDA) approve these labels.See article for more information.