Claims / Legal
Terrorism’s Global Property Damage Costs Highest Since 9/11 Attacks
In the wake of Friday's massacre in Paris, a new report says the world is paying the highest price for terrorism since the 2001 attack on New York's Twin Towers. In 2014, acts of terror cost the ...
Jury Verdict: Ernst & Young Liable for Madoff Losses
Ernst & Young LLP was found liable on Friday by a Washington state jury for the losses of an investment firm from the collapse in 2008 of fraudster Bernard Madoff's multibillion dollar Ponzi ...
Insurers Could Pay Up to $600M in Brazilian Dam Burst
Insurers covering risks for a Brazilian mine where two dams burst last week, killing at least six people, could pay up to $600 million in claims, a source with direct knowledge of the matter said on ...
A Hurricane/Cyclone/Typhoon Season to Remember Is Not Over Yet
For a few minutes last Wednesday, there weren't any hurricanes, cyclones, typhoons or tropical storms anywhere in the world. The respite didn't last long. Thursday morning, the U.S. Navy and Air ...
Allianz Division PIMCO Fights Back Against Co-Founder Bill Gross’s Lawsuit
Pacific Investment Management Co. fired back at the co-founder who oversaw the firm's ascent for 43 years, saying Bill Gross's lawsuit over his departure looks more like a screenplay than a legal ...
Apple Win: Judge Tosses Suit Over Retail Worker Bag Searches
Apple Inc. persuaded a judge to throw out a lawsuit by employees of the company's retail stores in California seeking back pay for time spent in "demoralizing" security searches when they left work ...
Is Climate Change The Next Tobacco? NY AG Seen Using Martin Act in Exxon Probe
A near century-old statute that gives New York state prosecutors unusually broad authority to prosecute securities fraud could prove a powerful weapon as Attorney General Eric Schneiderman probes ...
Mexico Cat Bond Likely to Pay on Hurricane Patricia Losses: S&P
Bonds sold by Mexico to shield it from the cost of repairing hurricane damage are closer to paying out after the biggest storm ever measured in the Americas struck the country last month, Standard ...