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Underwriters are embroiled in a coverage dispute with the bank over a C$300mn claim. -
Chubb’s report comes amid growing outcry among D&O insurance providers over event-driven securities lawsuits.
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Gardner, Yoder and Durant have asked a judge to dismiss most of MMC’s case alleging a plot to raid Guy Carpenter.
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The trio who left Guy Carpenter for Lockton Re wish to engage in “meaningful discussions” with MMC, according to a court filing.
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MMC claimed the executive accessed a list of Guy Carpenter’s top employees and financial projections for clients before moving to Lockton.
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Chubb, Allstate and Liberty Mutual are among insurers seeking reimbursement for claims from the utility.
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The trio are temporarily barred from soliciting their former Guy Carpenter clients and ex-colleagues.
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A New Jersey federal judge rejected insurers’ request to throw out key counts in the lawsuit.
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Commercial real estate investor Capital Crossing said Mapfre paid only $2.6mn after it reported damage to 228 insured locations.
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The company is fighting a lawsuit filed by KBW over the delisting of $1.2bn in preferred securities from the NYSE in connection with a buyout.
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The syndicates faced allegations that they conspired with brokers to rig the US commercial insurance market.
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Jim Beck is accused of reaping $2mn in illegal proceeds through a fraud involving the Georgia Underwriting Association.
