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30
11, 2015
Anadarko’s $160 Million Fine for 2010 Gulf Oil Spill Falls Well Below What U.S. Sought
Anadarko Petroleum Corp. was ordered to pay almost $160 million for its role as part-owner of the doomed Gulf of Mexico well that in 2010 caused the biggest offshore oil spill in U.S. history. The fine was the last big …
30
11, 2015
Delta Lloyd Plans to Raise $1.06 Billion in Rights Offer to Improve Capital Position
Delta Lloyd NV plans to raise as much as 1 billion euros ($1.06 billion) by selling stock in a rights offer as the Dutch insurer seeks to improve its capital to meet new regulatory standards. The sale is fully underwritten by …
30
11, 2015
Major Fault Near California Reactors Links to Second Crack
The Diablo Canyon nuclear power plant and earthquake faults have been uneasy neighbors for decades. Even before the twin reactors produced a single watt of electricity, the plant had to be retrofitted after a submerged fault was discovered 3 miles …
30
11, 2015
Brazil to Sue BHP and Vale for $5.24B in Damages Caused by Burst Dam Disaster
Brazil’s federal and state governments plan to sue the owners of the Samarco iron ore miner for 20 billion reais ($5.24 billion) in damages caused by the burst of a tailings dam, Environment Minister Izabella Teixeira told reporters on Friday …
30
11, 2015
5 Charged in $580M Southern California Scheme Involving Workers’ Comp
Five people, including a former hospital executive and two surgeons, are charged with a massive kickback scheme that resulted in billing $580 million to the government and insurance companies, authorities announced. Two already pleaded guilty and the others have agreed …
30
11, 2015
Lloyd’s Syndicates Join Forces to Help Emerging Markets Build Nat Cat Resilience
Eight Lloyd’s syndicates are joining forces to develop new solutions to help developing economies tackle underinsurance and improve their resilience against the economic impact of natural catastrophes. Emerging economies across Latin America, Africa, and Asia currently contribute 40 percent to …
1
12, 2015
ACE Names Personal Lines Leadership Team for Overseas General Insurance
ACE Ltd. has appointed the future personal lines leadership team for the new Chubb Group’s Overseas General Insurance division. The leadership appointments will take effect upon completion of the acquisition of Chubb, which is expected in the first quarter of …
30
11, 2015
GM Does Not Have to Turn Over Privileged Ignition Switch Documents: Judge
General Motors Co. and its law firm need not turn over privileged documents to drivers hoping to show that the automaker intended to commit a crime or fraud by concealing defective ignition switches in their vehicles, a Manhattan federal judge …
30
11, 2015
Paul Walker’s Father Sues Porsche for Negligence in Fatal California Crash
Paul Walker’s father has sued Porsche for negligence and wrongful death over the 2013 accident that killed the “Fast & Furious” star. Walker’s father, who is the executor of his son’s estate, filed the lawsuit last week claiming that the …
30
11, 2015
Federal Reserve Votes to Retire AIG Bailout Tool
The Federal Reserve Board on Monday approved a proposal to curb its emergency lending powers, a change demanded by Congress after the central bank’s controversial decision to aid AIG, Citigroup and others in 2008. The rule, unanimously approved by the …