Government
Judge Clears PIMCO to Sue AIG Over Subprime Mortgage Losses
A federal judge on Monday cleared the way for Pacific Investment Management Co to pursue a California lawsuit accusing American International Group Inc of causing big losses by lying about its ...
Obama Administration Unveils New Offshore Oil Well Safety Rules
The Obama administration last Thursday unveiled new oil well control rules to prevent the kind of blowout that happened six years ago on a BP Plc rig in the Gulf of Mexico. The Interior Department's ...
RIMS 2016: Employee-Contractor Debate to Become Even Hotter
The employee vs. contractor debate has the potential to have a major impact on the insurance industry, according to a pair of experts speaking on the topic on Monday in San Diego, Calif. It's ...
RIMS 2016: Travelers CGL Data Breach Ruling Won’t Impact Cyber Market
What will be the effect of this week's federal court ruling that Travelers Indemnity, under its commercial general liability (CGL) coverage, must defend an insured sued due to a medical records data ...
Are Carriers Facing a Paper Bias for Notices of Cancellation and Nonrenewal?
The insurance industry has been notoriously slow to fully embrace electronic forms of commerce and there may be good reasons for the hesitation. Until recently, antiquated, prescriptive requirements ...
Federal Court Rules Travelers CGL Policy Covers Data Breach
A federal appeals court in Virginia has upheld a lower federal court in ruling that a commercial general liability policy (CGL) may cover a data breach. In a case involving the publication of private ...
Global Cyber Email Scams Cost Businesses Billions of Dollars
Businesses have lost billions of dollars to fast-growing scams where fraudsters impersonate company executives in emails that order staff to transfer to accounts controlled by criminals, according to ...
Ex-AIG CEO Benmosche’s Posthumous Memoir Slams Wall Street Greed
Robert Benmosche, the former American International Group Inc. chief executive officer who repaid a U.S. bailout, left behind criticism for Wall Street after his death. "The commissions being charged ...