The trial in Ambac Financial Group Inc.’s $2.7 billion case against Bank of America is expected to begin in New York state court on Wednesday, 12 years after the bond insurer sued over troubled mortgage-backed securities issued before the 2008 …
Westfield said it has expanded into the international specialty insurance market by buying Lloyd’s Syndicate 1200 from Argo Group International Holdings for about $125 million. The acquisition is expected to close during the first half of 2023 pending regulatory approval. …
U.S. Rep. Charlie Crist, a Democratic candidate for governor of Florida, has continued to needle incumbent Gov. Ron DeSantis for his handling of the property insurance crisis in the state. At a press conference Wednesday, Crist, himself a former governor, …
Aon plc, the global professional services firm, has launched a Strategy and Technology Group (STG) to bring together a wide range of expertise and technology solutions — designed to help property & casualty and life re/insurance clients build resilience. Developed …
Fresh on the heels of massive reinsurance price increases in June, which helped send some property insurers into insolvency or out of the Florida market, reinsurers are now likely to raise premiums again in the next few months. Analysts with …
AIG’s Lexington Insurance Company today announced the launch of the Lexington Middle Market Casualty team, a group of dedicated underwriters focused on providing insurance coverage exclusively to small-to-medium-sized commercial enterprises (SME), substantially expanding the company’s market reach beyond upper middle-market …
A court order that requires Sherwin-Williams Co. to pay $101 million into a lead paint abatement fund amounts to “damages” that are recoverable through a Lloyd’s of London insurance policy, an Ohio appellate court ruled last week. The Eighth Appellate …
A Clayton, Ohio company was cited for exposing workers to fires and failing to train them on initial stage fire identification and use of fire extinguishers after federal safety investigators received a referral from a local fire department that responded …
Federal, state and local investigators in northwest North Dakota are looking into the cause of an oil rig explosion and fire that sent three workers to the hospital. The crew members were taken to a burn center in St. Paul, …
South Africans could soon be paying as much as 5% more on their premiums as insurers face growing risks both globally and locally. The country is now considered “very risky” due to mounting flood and fire dangers, as well as …