Berkshire Hathaway Specialty Insurance (BHSI) has introduced two new policies tailored specifically for UK financial institutions: Professional First Financial Institutions Civil Liability Insurance, and Executive First Financial Institutions D&O Liability Insurance. “Both policies clearly articulate broad coverage for liability exposures …
Sweden’s financial watchdog hit lender Swedbank with a record fine of 4 billion crowns ($386 million) on Thursday for serious deficiencies in its anti-money-laundering work and said the bank had withheld information from authorities. Sweden’s oldest retail bank saw its …
Directors and officers liability insurance has gotten trickier and will confront major new challenges over the next few years. Continued rate hikes and narrower coverage guidelines will be necessary as a result, A.M. Best concluded in a new report. “We …
The ousted chief executive of Danske Bank A/S, Thomas Borgen, has been personally targeted in an investor lawsuit arguing he withheld information about potential money laundering that subsequently destroyed the lender’s market value. Deminor, a Brussels-based law firm, said on …
The range of risks facing company executives, or directors and officers (D&Os), has increased significantly in recent years along with resulting insurance claims, according to a report published by Allianz Global Corporate & Specialty (AGCS). Titled “Directors and Officers Insurance …
Berkshire Hathaway Specialty Insurance (BHSI) announced that it has expanded its European team with the addition of Chris Warrior as head of directors’ & officers’ liability underwriting for UK & Ireland. Warrior comes to BHSI with 36 years of experience …
Sweden’s biggest shareholder group has criticized Swedbank AB’s choice of chief executive officer, arguing the board opted for an insider who failed to stop the bank sinking into a Baltic money-laundering scandal when he had the chance. Jens Henriksson will …
Scandal-hit South African retailer Steinhoff said on Tuesday its only hope for survival is to sell off assets to become a retail-focused investment holding firm, as it fights to contain the fallout of a $7 billion accounting fraud. The company …
Swedbank AB acknowledged it will no longer be able to live up to its goal of paying out one of the highest dividend ratios in the Nordic finance industry. Sweden’s oldest bank, which is dealing with the fallout of a …
Companies going public in the United States face insurance costs that have increased as much as 200% in the last three years to cover their executives against lawsuits alleging they misled investors. A rise in securities class-action cases involving initial …
