Specialist insurer Beazley has launched a new private equity liability insurance product, designed to focus on the inherent directors and officers (D&O) risks within the long-term lifecycle of portfolios held by private equity firms. Across the full lifecycle of investments, …
For years, Allianz, one of the world’s biggest investors, piled billions into property, wind farms and even London’s sewage system, but now it is moving to shun such “alternative” investments for plain vanilla bonds, people with knowledge of the matter …
The former Allianz SE hedge fund manager charged with fraud over billions of dollars in investor losses asked a judge to throw out the case, claiming lawyers wrongly betrayed him to protect the company. Gregoire Tournant claims in a Monday …
A directors and officers insurer has no duty to defend a New Mexico financial organization from litigation filed after its former chief executive officer was convicted of stealing $4.9 million from clients, a federal appellate court ruled. A panel of …
The U.S. government filed a lawsuit accusing AmerisourceBergen Corp., one of the nation’s largest drug distributors, of helping ignite the nation’s deadly opioid epidemic by failing to report hundreds of thousands of suspicious orders of prescription painkillers. In a Dec. …
The U.S. Consumer Financial Protection Bureau hit Wells Fargo & Co. with the watchdog’s largest ever civil penalty on Tuesday as part of a $3.7 billion agreement to settle charges over widespread mismanagement of car loans, mortgages and bank accounts. …
Insurers are denying or limiting coverage to clients with exposure to bankrupt crypto exchange FTX, leaving digital currency traders and exchanges uninsured for any losses from hacks, theft or lawsuits, several market participants said. Insurers were already reluctant to underwrite …
Public and private D&O buyers are seeing more competitive conditions, fueled by a reduced number of U.S. securities class actions, a slowdown in M&A activity, as well as an influx of new market entrants. However, the risk landscape is ripe …
Former Wirecard executives go on trial on Thursday, two years after the collapse of the payments company that produced Germany’s biggest post-war fraud scandal and sent shockwaves through the country’s political and financial establishment. Austrian former chief executive Markus Braun …
Directors and officers liability pricing fell 14.7% in the third quarter, according to a recent survey. Aon’s Financial Services Group’s Q3 2022 pricing index for the quarter ending on September 30 decreased to 1.57 from 1.96 in the prior-year quarter, …
