Billionaire investor Carl Icahn sued the directors of AmTrust Financial Services Inc., Chief Executive Officer Barry Zyskind and the family that controls the insurer to challenge a plan to take the insurer private, arguing it will shortchange investors. Icahn, who …
A divided U.S. Supreme Court ruled that employers can force workers to use individual arbitration instead of class-action lawsuits to press legal claims. The decision potentially limits the rights of tens of millions of employees. The justices, voting 5-4 along …
Brian Benjamin, a longtime insurance executive with experience in professional liability lines, has joined Zurich North America as head of Management Solutions. Benjamin will be accountable for the performance of the Management Solutions Group (MSG) unit, which is part of …
The U.S. market for cyber insurance grew significantly in 2017, as direct premiums written rose nearly 32 percent year over year to $1.8 billion, and policies in force jumped 24 percent to 2.6 million, according to an A.M. Best special …
The Prague-based investment firm Arca Capital said it plans to work with activist investor Carl Icahn and other minority shareholders to prevent a proposed privatization of AmTrust Financial Services Inc. Arca Capital owns approximately 2.4 percent of outstanding shares of …
Technology-focused homeowners and renters insurer Lemonade Inc. has proposed an open source renters insurance policy that anyone can contribute to changing, even its rivals since Lemonade is not copyrighting it. The aim is to develop a policy that is written …
The new era of big batteries has already drawn scrutiny after fiery electric-car crashes across America and Europe. Now, U.S. city planners are worried about the same risk of hard-to-control blazes as these power-storage units make their way into basements …
The U.S. gun lobby is taking aim at “gun-hating” banks after Citigroup Inc. and Bank of America said they would no longer provide certain banking services to gun-makers, according to industry lobbyists. The attack by Gun Owners of America and …
The U.S. House of Representatives rejected a sweeping $867 billion farm bill on Friday after Republican leaders failed to appease conservative lawmakers who had asked them not to hold the vote until they were given the chance to consider a …
S&P Global Ratings has affirmed its ‘A+’ insurer financial strength rating and ‘BBB+’ long- and ‘A-2’ short-term issuer credit ratings on American International Group Inc. (AIG), and its ‘A+’ rating on AIG’s core subsidiaries. The rating agency’s outlook for AIG …
