Claims / Legal
Goldman Sachs Accused of Selling Out Client to Curry Malaysian PM’s Favor
Goldman Sachs Group Inc. has another Malaysia problem. The New York-based bank, already under scrutiny by regulators over its fundraising for the embattled 1Malaysia Development Bhd, is now accused ...
How U.S. Inland Flood Became a ‘Peak’ Peril
Flood is the most pervasive and frequent peril in the U.S. Yet, despite having the world's highest non-life premium volume and one of the highest insurance penetration rates, a significant protection ...
EU, Consumer Groups Pressure VW for Compensation
Europe's Commissioner for Justice is working with EU consumer groups to pressure Volkswagen to compensate clients in Europe as it has in the United States over the diesel emissions scandal. The ...
Lloyd’s Possibly Vulnerable to Catastrophic Cyber Attack
A review of almost 400 reinsurance contracts underwritten at Lloyd's of London has revealed potentially significant vulnerabilities and exposures if a catastrophic cyber attack should occur. Analysis ...
JPMorgan Will Fork Over $200M to Resolve Asia Hiring Probes
JPMorgan Chase and Co is expected to pay about $200 million to settle criminal and civil probes over its Asian hiring practices, according to a person familiar with the matter. A settlement, which ...
Counts Reduced Against Group Charged in BP Oil Spill Fraud Case
A Texas lawyer and six co-defendants are now facing a reduced indictment of 73 charges, instead of 95, at federal trial on accusations that they faked more than 40,000 damage claims after the BP oil ...
The U.S. Accounted for Nearly Half of H1’s Global Insured Losses
Preliminary global economic losses reached US$98 billion during the first half of 2016, while global insured losses hit US$30 billion – their highest levels since 2011, according to Impact ...
The Hartford is Rare Insurer to Protect Investments From Climate Change Risks: Analysis
Insurers manage a large chunk of the world's investment capital, but they're not acting fast enough to protect their investments from the adverse effects of climate change, the Asset Owners ...