Monthly Archives: <span>January 2018</span>

Randall & Quilter Sells Insurance Services & Captive Mgmt. Operations to Davies Group

Randall & Quilter Investment Holdings Ltd. (R&Q) announced the sale of its Insurance Services and Captive Management Operations to Davies Group, a London-based operations management, consultancy and digital solutions provider. The transaction involves the sale of the entire share capital …

Argo Group Renews Harambee Re Sidecar Reinsurer for 2018

Argo Group International Holdings Ltd., the international underwriter of specialty insurance and reinsurance products, announced the renewal of Harambee Re Ltd. as Argo Group’s sidecar reinsurer for 2018. Launched in 2013, the sidecar continues with the company’s “successful track record …

Insurance, Finance Fraud in UK Jumps to $2.9B, a 15-Year High

Fraud in the U.K. rose to 2.1 billion pounds ($2.9 billion), the most in 15 years, as the police commander in charge of fighting the crime said the amount of evidence was setting back investigations. The value of finance and …

Supreme Court Case on SEC Judges Could Disrupt Administrative Proceedings

The U.S. Supreme Court will decide whether the Securities and Exchange Commission’s in-house judges were appointed in violation of the Constitution, agreeing to hear a case that could upend administrative hearing systems across the federal government. The move came at …

Appeals Court Thwarts Goldman Shareholders’ Class Action Over Subprime Securities

A U.S. appeals court said a shareholder lawsuit accusing Goldman Sachs Group Inc. of fraudulently claiming to put client interests before its own when creating risky subprime securities before the financial crisis, including a collateralized debt obligation known as Abacus, …

West Virginia Proposes Comprehensive Drug Plan to Address State Opioid Crisis

State health officials are proposing a multifaceted plan for confronting the drug crisis killing hundreds of West Virginians each year, one that would require action by everyone from lawmakers to doctors to judges to emergency responders to the general public. …

Insurance Industry Bands Together to Make a Difference in North Carolina City

A group of insurance and risk management professionals are working together to make a difference in one of North Carolina’s largest cities. The group, Community Matters: Insurance Partners of Charlotte, started in 2012 to help raise funds to build a …

Deaths, Damage from California Mudslides Rise in Wealthy Montecito Community

The mudslides on the California coastal town of Montecito have devastated a wealthy enclave where billionaires including Charlie Munger, Eric Schmidt and Oprah Winfrey own properties, with hundreds of millions of dollars of damage in one of America’s most expensive …

Update: Sunken Iranian Oil Tanker Causes Large Oil Slick in East China Sea

A stricken Iranian tanker that sank in the East China Sea on Sunday in the worst oil ship disaster in decades has produced a large oil slick, Chinese media and Japanese authorities said on Monday, as worries grew over damage …

Iowa High-Rise Project Uncertain After Property Swap with Insurer

The developer of an $88 million high-rise project in downtown Des Moines has announced plans to trade the land to an insurance company in exchange for a portion of a downtown property. Blackbird Investments’ announcement leaves the future of its …