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Allianz Unveils Transactional Liability Unit as M&A Surges
Allianz Group is launching a new transactional liability unit designed to take advantage of greater M&A deal activity in the U.S. and, ultimately, around the world. The insurer’s Allianz Global Corporate & Specialty division will handle the roll-out, with an initial …
Peabody Reaches Coal Mine Cleanup Deal with 3 U.S. States
Peabody Energy Corp., the largest U.S. coal producer, reached a deal to cover mine clean-up liabilities while in bankruptcy with three U.S. states, court documents showed on Tuesday. Peabody has benefited from a federal program known as self-bonding that allows …
Former Bismarck, North Dakota Leader Files Complaint Against Over flooding
A former city commissioner in Bismarck has filed a complaint with the North Dakota Department of Health accusing the city of neglecting to address sewer wastewater and storm water problems on the city’s south side for decades. A June 28 …
Ex-Dallas Citibank Worker Who Sabotaged Computer System Going to Prison
An employee who sabotaged Citibank’s computer system because he believed he was about to be fired has been sentenced to nearly two years in prison. Investigators say Lennon Ray Brown of Dallas transmitted a code and command in 2013 leading …
LP Insurance Services in Nevada Brings on Cleghorn
Reno, Nev.-based LP Insurance Services Inc. has named Adam Cleghorn to its Northern Nevada team. Cleghorn previously worked for Basalite Concrete Products in Sparks. He has been in the risk management industry for more than 15 years. LP Insurance Services …
Idaho Rancher’s Family Initiates Wrongful Death Suit
The family of an Idaho rancher authorities say was shot and killed by two Adams County Sheriff’s deputies has filed a legal notice of their intent to sue the county. The Idaho Statesman reported in a story on Tuesday that …
Barnes & Thornburg Adds 2 Insurance Recovery Attorneys in California
Barnes & Thornburg LLP has added David Wood and Joshua Rosenberg to the firm’s litigation department and insurance recovery and counseling practice group. The firm also added John Corbett, of counsel, in Dallas, Texas. The trio arrives from Anderson Kill’s Ventura, …
National Interstate Accepts $660M Buyout by American Financial
National Interstate Corp., the provider of insurance to the transportation industry, accepted majority-owner American Financial Group Inc.’s sweetened bid of $32 a share to buy the stock that it doesn’t already own. The offer values National Interstate at about $660 …
California Wildfire Shuts Down Picturesque Big Sur
State parks along the California’s famed Big Sur coastline were closed Tuesday as one of the state’s two major wildfires threatened the scenic region at the height of the summer tourism season. The Big Sur fire threatened a long stretch …
P/C Insurers Face Tough Sledding in 2016, Warns S&P
This year could be a tough one for U.S. property/casualty insurers as catastrophe losses, private passenger insurance woes and declining bond yields erode underwriting results and profitability, according to a report by S&P Global Market Intelligence. The firm’s 2016 U.S. …