directors and officers insurance News

Mississippi City Councilman Pleads Guilty to Selling Doctored CBD Products

GULFPORT, Miss. (AP) — A Mississippi city council member pleaded guilty to federal charges after running a multimillion-dollar illegal drug business, prosecutors said last week. Biloxi City Council member Robert Leon Deming, III, 47, reached a plea agreement with the …

Abuse Probe Into New Orleans Catholic Clergy Expands

NEW ORLEANS (AP) — Authorities have expanded an investigation of clergy sexual abuse in the Roman Catholic Church in New Orleans to include senior church officials suspected of shielding predatory priests for decades and failing to report their crimes to …

US D&O Insurance Segment’s Improved Results Unlikely to Be Sustainable: Fitch

The U.S. directors and officers (D&O) liability insurance segment’s strong underwriting profit of 2023 is unlikely to be sustainable, according to Fitch Ratings in a report. Fitch attributed this reality to declining premium revenues from lower premium rates, as well …

IVF Clinic Insurance Affected by Ruling as Alabama Lawmakers Look for a Fix

MONTGOMERY, Ala. (AP) — Lawmakers began scrambling for ways to protect Alabama in vitro fertilization services after multiple providers paused treatment in the wake of a state Supreme Court ruling that frozen embryos could be considered children under a state …

Owens Corning to Buy Tampa-based Masonite International for $3.9 Billion

(Reuters) – Owens Corning said on Friday it will buy door maker Masonite International for $3.9 billion in an all-cash deal, as it looks to beef up its home-building portfolio and expand its reach. Owens will acquire all outstanding shares …

Markets/Coverages: McGill and Partners Launches Coverage for Corporate Insolvency as D&O Policy Extension

McGill and Partners, the London-based boutique specialist re/insurance broker, has launched SAIFElimits, a coverage solution for corporate insolvency. The scheme is designed to be incorporated into any primary directors and officers (D&O) policy and is triggered automatically by an insolvency …

Markets/Coverages: WTW Launches Global D&O Excess Facility Called ‘A-Star’

Insurance broker WTW announced the launch of “A-Star,” an excess layer D&O insurance solution for directors and officers. The new facility provides access to up to £/$/€ 80,000,000 additional capacity for directors & officers liability insurance, ensuring comprehensive protection for …

Private Prison Firm Pays Mississippi $5 Million After Audit Found Understaffing Issues

JACKSON, Miss. (AP) — A Utah-based private prison company has returned $5.1 million to the Mississippi Department of Corrections after an investigation found it failed to provide enough workers at one of the prisons it was operating, state Auditor Shad …

Tampa Installer Banned for Life After Leaving Hundreds of Pools Unfinished

Florida’s attorney general has taken extraordinary measures against a Tampa-based pool company, shutting down the company and securing a lifetime business ban against the owner, who left hundreds of swimming pools unfinished around the area. In a consent judgment in …