News
AIG Launches Bermuda Segregated Accounts Company
In response to strong demand for alternative risk financing programs, particularly from small and midsize companies globally, American International Group Inc. on Friday announced the launch of Grand ...
HSBC, Wells Fargo Forced-Property Insurance Suits Settled
HSBC Holdings Plc and Wells Fargo & Co. have agreed to settle lawsuits by mortgage holders who alleged they were forced to pay for property insurance at inflated rates. HSBC will pay as much as ...
RSA Insurance Poaches Zurich Exec Norgrove for Irish Unit
RSA Insurance Group Plc named Ken Norgrove as chief executive officer of its Irish unit as the company seeks to put a scandal in Ireland that led to a $1.3 billion rights issue behind it. Norgrove ...
Top Execs of Failed Dewey Law Firm Charged with Fraud
Three former executives at Dewey & LeBoeuf LLP, once the No. 3 legal adviser to banks handling merger deals, were charged with a "blatant" $200 million fraud that spurred the largest law firm ...
Oceanwide Launches Online Cloud Provider Risk Assessment Tool for Insurers
Oceanwide, Inc.announced the launch of its Cloud Provider Assessment Model (CPAM) Thursday, noting that the tool was designed for the insurance industry to give information technology (IT) and ...
Aviva Hit With $221 Million Cost From Improper Hedge Fund Trades
Aviva Plc took a 132 million pound ($221 million) charge after saying two former employees breached its trading policy since 2006 to the benefit of external hedge funds. The insurer, which on ...
Aviva Hits 2008 High as Profit Beats Estimates; CEO Restores Bonuses
Aviva Plc rallied to its highest in more than five years after profit beat analysts' estimates, and Chief Executive Officer Mark Wilson said he planned to restore bonuses at the U.K.'s second-biggest ...
Farmers Told to Pay Oklahoma Trio $15M
An Oklahoma judge has ordered Farmers Insurance and a subsidiary to pay a total of $15 million to three plaintiffs who filed claims for damage to their homes caused by a deadly tornado that struck ...