Litigation/Liability Trends
NY AG Schneiderman Says AIG Suit Is Bid to Hobble Unlicensed Sales Probe
New York Attorney General Eric Schneiderman asked a federal judge to dismiss a lawsuit filed by American International Group Inc. against the state's Department of Financial Services and its ...
Judge: Corzine, Ex-MF Global Execs Can Tap More Insurance Funds for Defense
Jon Corzine and other former insiders of collapsed brokerage MF Global can tap another $10 million of insurance funds to defend lawsuits accusing them of hastening the firm's downfall, a U.S judge ...
FINRA Probing Abusive Trades Based on Mathematical Algorithms
Wall Street's self-regulator is cracking down on abusive trades made on the basis of mathematical algorithms and currently has some 170 ongoing investigations into the subject, its chief said on ...
Bank of America Cleared For Concealing $10B AIG Fraud Lawsuit
A federal appeals court said Bank of America Corp was not liable to shareholders for allegedly concealing a $10 billion fraud lawsuit by American International Group Inc, whose filing led to a ...Farmers Insurance Class Actions May Signal Wave of Climate-Change Suits
A major insurance company is accusing dozens of localities in Illinois of failing to prepare for severe rains and flooding in lawsuits that are the first in what could be a wave of litigation over ...
Property Events Create Emerging Risks for Casualty Insurers
When we think of large insured losses arising from natural or manmade disasters, we see images from hurricane or earthquake devastation. First-party property damage and business interruption losses ...
Google Getting Takedown Requests After ‘Right-to-be-Forgotten’ Ruling
Google Inc. is already getting requests to remove objectionable personal information from its search engine after Europe's top court ruled that subjects have the "right to be forgotten," a source ...
Madoff Victims Seek $40B from Compensation Fund
The overseer of a U.S. fund to compensate victims of Bernard Madoff's Ponzi scheme on Tuesday said he has received roughly 51,700 claims seeking to recoup more than $40 billion, both totals far ...