News
Wells Fargo Slammed With Class Action Lawsuit Regarding Sales Practices
A shareholder class action lawsuit was filed against Wells Fargo & Co on Monday that alleged the firm misled investors about its financial performance and the success of its sales practices. ...
Ex-AIG Chairman Greenberg Finally Tells His Side of the Story at Trial
Former American International Group Inc. Chairman Maurice "Hank" Greenberg says he got personally involved in an "insignificant" business deal at the insurance giant 18 years ago to teach some ...
Yahoo Faces Negligence Suits Over Massive Data Breach
Yahoo! Inc. is being accused in lawsuits of failing to secure customer data after the company said the personal information of at least 500 million users was stolen in a 2014 hack. As a result of the ...
U.S. E&S Results Crush P/C Industry as a Whole: Fitch Ratings
E&S underwriters continued to greatly outperform the U.S. P/C industry at large in terms of combined ratio in 2015, even though the sector takes up just a fraction of the overall market, Fitch ...
Tokio Marine Rebrands a Subsidiary to Better Capture More U.S. Business
A subsidiary of Japanese property/casualty insurance giant Tokio Marine is rebranding with an eye on capturing more commercial business from U.S.-headquartered companies. The unit, formerly known as ...
Cyber Breach Costs Aren’t Significant Enough to Spur Big Security Investment in Computer Security
The cost of a typical cyber breach to an American company is much less than has been generally estimated, providing one possible explanation for why companies do not invest more to improve computer ...
Britain’s Financial Sector Optimism Plunges in Wake of Brexit Vote
Optimism about the outlook for Britain's financial services sector is at its lowest point since the financial crisis, a survey of finance firms showed on Monday. The latest survey of 115 financial ...
More Insurers Boost Their Cash Holdings as Credit Worries Build: BlackRock
Insurers expect to slow purchases of high-grade corporate debt and hold more cash over the next two years, potentially squeezing already low returns, BlackRock Inc. said. "Cash balances are ticking ...