U.S.
Privatizing Flood Insurance Presents Opportunities, Challenges: Deloitte
Privatization of the National Flood Insurance Program (NFIP) would present a huge growth opportunity to the property/casualty market, allowing insurers to tap into about $3.3 billion of yearly ...AIG’s Miller Notes Progress As Reorganization Continues
American International Group Inc. must do more to win over Wall Street, even after rallying 51 percent in the past two years, Chairman Steve Miller told shareholders. AIG is seeking to reward ...
Dept. of Homeland Security Issues Warning on ‘Heartbleed’ Web Encryption Technology Bug
A newly discovered bug in widely used Web encryption technology has made data on many of the world's major websites vulnerable to theft by hackers in what experts say is one of the most serious ...
Allstate, BofA Agree To End $700M Lawsuit Over Toxic Mortgages
Allstate Corp and Bank of America Corp's Countrywide unit have agreed to dismiss a lawsuit stemming from $700 million of toxic mortgage debt, according to a court filing on Tuesday. The parties "have ...
SNL’s Top 30 E&S Writers: Berkshire On Fire With 40% Growth in 2013
With 40 percent premium growth in 2013, Berkshire Hathaway Inc. climbed five spots in the U.S. excess and surplus lines ranking compiled by SNL Financial, while QBE scaled back its North American ...
Jury Hits Drugmakers With $9B in Punitive Damages
Takeda Pharmaceutical Co. Ltd. said it would contest $6 billion in punitive damages imposed by a U.S. federal jury in a case alleging that Japan's largest drugmaker had concealed cancer risks ...
U.S. SEC Forms Group to Probe Private Equity, Hedge Funds
The U.S. Securities and Exchange Commission (SEC) has put together a dedicated group to examine private equity and hedge funds, after the 2010 Dodd-Frank law required the funds to be regulated, ...
Bank of America to Pay $228M to Settle Forced-Place Insurance Claims
Bank of America Corp. agreed to pay $228 million to settle claims the bank overcharged for insurance homeowners were forced to accept when their regular policies lapsed. The amount was disclosed in a ...