Claims / Legal
P/C Insurer Net Income Over $55B for 2014: ISO/PCI Report
Net income for U.S. property/casualty insurers totaled $55.5 billion after taxes last year, coming as little surprise to experts who had forecast a $50-billion-plus result early this year. In early ...
Florida High Court Nixes Applying Medical Malpractice Cap Retroactively
A 2003 law capping medical malpractice lawsuit awards at $500,000 can't be applied retroactively. That's what the Supreme Court ruled in a Miami-Dade County case in which a woman suffered permanent ...
Trial Begins for Dewey & LeBoeuf Executives Charged with Fraud
Nearly three years after the demise of law firm Dewey & LeBoeuf, a Manhattan prosecutor opened the criminal trial of three of the firm's former executives on Tuesday by accusing the trio of ...
U.K.’s FCA Finds Small Companies Treated Poorly by Insurers
The U.K.'s Financial Conduct Authority (FCA) criticized the insurance industry for "poor practices" and "significant" failures in handling claims for small and medium-sized companies. The regulator ...
BP Resolves Oil Spill-Related Claims With Hailiburton, Transocean
BP Plc has settled with oilfield services provider Halliburton Co and contract driller Transocean Ltd cross claims related to the 2010 Gulf of Mexico oil spill, the worst offshore disaster in U.S. ...
New York’s Top Financial Regulator to Leave, Launch Cybersecurity Consulting Firm
Benjamin Lawsky will step down next month as New York's top bank regulator after four years, during which he threatened to take away the U.S. charters of some of the world's biggest banks and ...
Amtrak Already Faces Multiple Lawsuits in Philly Derailment
Six passengers on an Amtrak train that derailed May 12 in Philadelphia, killing eight and injuring more than 200, sued the railroad claiming the accident could have been avoided. The first of the ...
Cyber Attack Struck St. Louis Federal Reserve in April
The U.S. Federal Reserve Bank of St. Louis said hackers successfully attacked the bank last month, redirecting Web traffic but not compromising its website. Hackers manipulated the bank's routing ...