News
Freddie Sues 15 Banks Over LIBOR Rigging; Fannie May Be Next
Freddie Mac has sued 15 big international banks, including JPMorgan Chase, Bank of America and Citigroup, accusing them of rigging a key interest rate and causing huge losses for the ...Many HO Policyholders Still Clueless On Flood Cover: Allstate
The perception that homeowners and renters do not understand that their homeowners insurance policies do not cover flood damage is a reality for nearly half of Americans, according to a survey ...Longer Routes Help Oil Tankers Mitigate Iran Sanctions
Oil tanker owners are cushioning the impact of Iranian trade restrictions by shipping crude over greater distances to some of Asia's biggest economies, the founder of Nordic American Tankers Ltd. ...Louisiana Commissioner Opposes $100M Citizens Insurance Borrowing Plan
Louisiana Insurance Commissioner Jim Donelon said it's premature for the state property insurer of last resort to borrow $100 million to help close a budget gap, according to a letter released March ...Goldman Avoids Class Action Over Gender Bias Claim; Court Allows Arbitration
Goldman Sachs Group Inc. on Thursday won a U.S. court order allowing it to send a former employee's gender discrimination dispute to arbitration, rather than being forced to defend against her claims ...
New York Reaches Settlement With Assurant, Largest U.S. ‘Force-Placed’ Insurer
The New York State Department of Financial Services investigation has produced a settlement with the country's largest "force-placed" insurer, Assurant Inc. New York Gov. Andrew Cuomo, who announced ...
Illinois Lawmakers Reject Firearm Liability Insurance Bill
The Illinois House has rejected a measure that would require $1 million in liability insurance for people carrying concealed weapons. Lawmakers voted 34-74 against Rep. Kenneth Dunkin's plan. It was ...
Keogh Resigns as EQECAT President; Little Named to Succeed Him
Bill Keogh has resigned as president of catastrophe risk modeling firm EQECAT, according to the company, and Paul Little has been named to succeed him. The company said Keogh resigned to pursue other ...