-
The Q3 settlement gain of $35mn net of litigation costs and taxes will be recognized in Q4, SEC filings show. -
The US DoJ is seeking information related to Gallagher's insurance business with public entities in Ecuador.
-
The insurer expects to pay the remaining $600mn liability within the next 12 months.
-
The brokers asked the judge in the case for a 30-day extension to finalize settlement terms in Aon’s suit against WTW.
-
The Massachusetts Bay Transportation Authority claims the firms failed to act over the bankruptcy of LMH-Lane Cabot Yard Joint Venture.
-
Argo Group has been sued by investors, who claim the company has engaged in inadequate underwriting and misrepresentation of facts which resulted in a 60% drop in the specialty carrier’s common stock value this year.
-
A study by the (re)insurer has found that pandemic-induced state court backlogs could take between 1.5 and three years, depending on how fast pending cases are cleared.
-
Both lawsuits and counterclaims were dismissed with prejudice, barring the brokers from bringing the disputes to another US court.
-
Ambac Financial Group has entered into an agreement to settle claims against Bank of America (BofA) for $1.84bn, putting an end to a 12-year lawsuit which dates back to the 2008 mortgage crash.
-
Executives Peter Barbara and John Drew seek monetary relief of more than $1mn, filings show.
-
The carriers appealing the settlement include AIG’s Lexington Insurance, Travelers, Allianz Global Risks, Liberty Mutual, GenStar, Munich Re, Argo and Old Republic.
-
The brokers are working on finalizing the terms in a written settlement agreement, which could be filed within two weeks.
