Government
Zurich Insurance Policy Lowers Banks’ Operational Risk Capital Needs
Zurich Insurance Group AG, Switzerland's biggest insurer, plans to offer banks a way to lower the amount of capital they need to hold for operational risks such as employee misconduct as regulators ...Ex-BP Engineer Destroyed Gulf Spill Evidence, Jury Told
A former BP Plc engineer deliberately destroyed evidence sought by the U.S. for a probe of the 2010 Gulf of Mexico well explosion and oil spill, a federal prosecutor said at the end of a trial in New ...
UBS Not Liable for Touting Risk Controls Breached by Rogue Trader
U.S. securities laws have their limits and do not justify making UBS AG liable to shareholders for touting its ability to control risk even as it harbored a rogue trader who caused $2.3 billion of ...
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 ...
Analysis: Continued Contraction Seen for U.S. Municipal Bonds Market in 2014
The withering U.S. municipal bond market will shrink even more well into 2014, with interest rate and credit risks keeping both investors and borrowers away. Barring an unforeseen turnaround in the ...
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 ...
Treasury’s FIO Releases Long-Awaited Modernization Report
After nearly two years of delays, the U.S. Department of the Treasury's Federal Insurance Office (FIO) today released its report on how to modernize and improve the system of insurance regulation in ...