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The payment represents the largest ever made in a team lift case in the London market. -
An internal missive, seen by Insurance Insider, also revealed Howden has agreed to a ‘set of demands to make amends’ in the wake of poaching settlement.
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Kenneth Gould and Frank Scardino resigned “effective immediately” in early October to join WTW, allegedly forgoing a required 30-day notice period.
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The two rival brokers have reached an out-of-court settlement over the poaching of 38 Guy Carpenter staff by Howden.
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Scott Canales, Richard Roderick, and Greg Barnes will join as executive vice presidents, and Mark Racunas as senior vice president, of Alliant Specialty.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Avenue Capital-backed Greylag claimed that insurers denied coverage of the two lost aircraft, which have a value of nearly $110mn and $120mn, respectively.
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A summary of commentary from the second day of Inside P&C New York, with insights on InsurTechs, MGAs and Vesttoo.
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The Orlando, Florida-based brokerage filed a complaint last week in a South Carolina court, saying the clients being solicited represent over $8mn in annual revenue.
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The InsurTech claims five former staff, including the CEO and CFO, forged signatures and impersonated bank staff.
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In the initial court documents, Aon alleged its rival broker and former head of PFI “conspired unlawfully” to recruit key members of the team.
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Court filings indicate use of “phony phone numbers” and creation of a “wholly fictitious person” in the letters of credit fraud that has engulfed Vesttoo.
