Claims / Legal
Tower Selling Stake in Canopius Group Limited, Boosting Reserves Again in Q3
Tower Group International, Ltd. (Tower) announced Tuesday that it has paid $70 million that was outstanding to its Bank of America credit facility using proceeds from the sale of a stake in Canopius ...
Nasdaq Loses Bid to Have Facebook IPO Lawsuit Dismissed
A federal judge has rejected Nasdaq OMX Group Inc.'s bid to dismiss lawsuits by investors who accused the exchange operator of botching Facebook Inc's $16 billion initial public offering, a decision ...
What is business transformation in insurance? Insurance business transformation is an operating model and technology foundation shift that allows organizations...
Toyota To Begin Settlement Talks For Acceleration Cases
Toyota Motor Corp. will begin talks to potentially settle hundreds of lawsuits alleging that defects caused some of its vehicles to unexpectedly accelerate, according to a court filing. Thursday's ...
Cantor Fitzgerald, American Airlines Agree to 9/11 Suit Settlement
Cantor Fitzgerald has agreed to settle a lawsuit against American Airlines Group Inc. and its insurers over business and property losses stemming from the Sept. 11, 2001, attacks on the World Trade ...
Florida’s Citizens Says Clearinghouse Delay Allows More Insurers to Join
Florida's state-backed property insurer announced that the debut of a new web-based clearinghouse would be delayed for a few weeks in order to ensure it is working efficiently and to allow more ...
U.S. Authorities Nearing $2B Settlement with JPMorgan on Madoff Violations
JPMorgan Chase & Co is working with criminal and regulatory authorities on settlements over the bank's relationship with convicted Ponzi schemer Bernard Madoff, ones that would involve $2 billion ...
2013 Had Lowest Hurricane Count Since 1982: Willis Re
The 2013 Atlantic storm season was one of the quietest in decades, with the lowest number of hurricanes since 1982 and none of them considered major, according to insurance broker Willis Re. An ...
Are Wireless Cos. Resisting Antitheft Switch to Sell Insurance, Asks NY AG
New York State attorney general is investigating why American cellphone carriers are yet to support antitheft software on Samsung smartphones, raising questions about possible coordination among the ...