The Federal Reserve proposed new rules on Tuesday to restrain risk-taking by the largest U.S. banks as it tries to make the financial system more resilient against future crises. The proposal, required by the 2010 Dodd-Frank financial oversight law, includes …
Insurance brokerage firm Aon Corp. will pay $16.2 million to settle criminal and civil charges that it paid bribes to foreign government officials over more than two decades, the U.S. government said on Tuesday. Under a non-prosecution agreement with the …
Although the recent summit of the 27 countries of the European Union did manage to come up with a plan to control budget deficits – in the future – it “took no clear short term actions to address the debt …
In a brief statement, issued by its office in Dublin, Beazley plc confirmed that it is to undertake a strategic review of the business of Hardy Underwriting Bermuda Limited. The statement followed the announcement by the board of Hardy on …
Tokio Marine said on Wednesday it will buy U.S. insurer Delphi Financial Group for $2.7 billion, the latest in a string of deals by Japan’s second-largest property-casualty insurer aimed at growing outside its mature home market. Tokio Marine said it …
Motor [auto] insurers seeking to get around a European ban on charging male drivers more than women are turning to innovative black box technology that could trigger an upheaval in the way car insurance is sold. Britain’s biggest motor insurer, …
There is a new study out that examines the U.S. flood insurance program. And it says that according to its calculations, there are some regions in the country where National Flood Insurance Program (NFIP) premiums are too high. The report …
Louisiana’s highest court has reinstated a nearly $100 million judgment against the state’s property insurer of last resort in a class action lawsuit stemming from Hurricane Katrina in 2005. The Louisiana Supreme Court on Dec. 16 issued a judgment that …
Washington, D.C.’s top insurance regulator is advising consumers to review their insurance policies and see whether they are covered for common winter activities. William White, commissioner for the District of Columbia Department of Insurance, Securities and Banking, says there are …
New York and federal officials will cooperate in investigations of banks bundling mortgages into troubled securities that helped cause the 2008 Wall Street collapse. Attorney General Eric Schneiderman and Steve Linick, the inspector general of the Federal Housing Finance Agency, …
