Goldman Sachs Group Inc. agreed to pay $550 million to settle civil fraud charges over how it marketed a subprime mortgage product, ending months of negotiations that rattled the bank’s clients and investors. The U.S. Securities and Exchange Commission said …
The Senate has passed the Dodd-Frank financial services reform package that will have some impact on the insurance industry and add involvement by the federal government in the state-based insurance regulatory system. The 2,300-page bill, which passed the Senate by …
Efforts to clinch a deal on the way banks, insurers and markets in the European Union are supervised failed on Wednesday and talks will resume in late August or early September. The talks on creating pan-European authorities to prevent any …
BP Plc prepared on Tuesday to test a new cap on its runaway well, arresting the flow of oil which has been gushing into the Gulf of Mexico for the last 12 weeks. [According to Reuters BP Plc will launch …
Lloyd’s of London will not insure or reinsure petroleum shipments going into Iran, the insurance market said on Friday. U.S. President Barack Obama signed into law last week far-reaching new sanctions that aim to squeeze the Islamic Republic’s fuel imports …
U.S. Health Secretary Kathleen Sebelius, who has bashed insurers over rate increases, is seeking their help in making medical coverage accessible for more patients in the years before major reforms take effect. Sebelius, in an interview with Reuters, said she …
Officials say just 18 cities and counties in Iowa have enrolled in the National Flood Insurance Program since the floods of 2008. Those that participate must agree to adopt and enforce flood plain management ordinances to reduce future flood damage. …
Underwriters from London’s marine insurance market are looking at how to comply with fresh sanctions being imposed on Iran, a senior Lloyd’s Market Association (LMA) official said on Friday. Iran, the world’s fifth-largest crude oil exporter, depends on its seaborne …
The House of Representatives last Thursday passed the first major U.S. bill related to the Gulf of Mexico oil rig explosion, voting to allow families of those killed and injured workers to be compensated far more generously than current law …
The first time Louisiana shrimp boat captain Louis Buteaux filed a claim with BP Plc to recoup oil spill losses, he was told he didn’t have enough paperwork to prove he actually was the skipper. So he only got $2,500 …
