Former American International Group Inc. Chief Executive Maurice “Hank” Greenberg has asked a judge to dismiss a civil fraud lawsuit brought by New York’s attorney general, who is seeking to hold him personally liable for a sham reinsurance transaction. Greenberg …
Woodruff-Sawyer & Co. has crafted a new personal protection solution called Wealth Security Policy for independent board members through a collaboration with an A+ XV rated Insurer. Independent directors of corporations are subject to unlimited, personal liability. They can be …
A Manhattan federal judge dismissed a shareholder lawsuit accusing current and former American International Group Inc. executives and directors of ignoring “red flags,” leading to the insurer’s near collapse and about $180 billion of federal bailouts. U.S. District Judge Laura …
A top U.S. Justice Department official said that prosecutors will increasingly pursue individual prosecutions — senior executives included — under the U.S. anti-bribery statute. Mark Mendelsohn, the department official who oversees enforcement of the Foreign Corrupt Practices Act (FCPA), said …
A federal appeals court said Monday insurer Lloyd’s of London must pay claims related to alleged swindler Allen Stanford’s defense. Stanford, his former chief investment officer Laura Holt, and former accounting executives Gilbert Lopez and Mark Kuhrt sued Lloyd’s after …
Marsh announced that Eleni Petros has been appointed as a Senior Vice President in its Financial and Professional (FINPRO) Practice in London. She specialises in Directors’ and Officers’ (D&O) insurance for the financial and professional services sector and will report …
Alleged swindler Allen Stanford will spend more than a year in custody after a U.S. judge Thursday set his criminal trial for January 2011. “This criminal case is going to get under way and it is going to go on …
A federal judge in Houston found accused swindler Allen Stanford and his attorneys in contempt of a court order Wednesday over their attempts to collect insurance policy proceeds to pay defense costs. No sanctions were imposed, according to the judge’s …
The hard market for financial institutions (FI) insurance, which has seen insurers push premiums up at renewal by a minimum of 10 to 15 percent, is unlikely to last until the end of 2010, according to the latest Willis FI …
The number of Securities and Exchange Commission settlements declined for the second consecutive fiscal year in 2009, with 626 defendants, compared to 673 in FY 2008, according to the global consultng firm, NERA Economic Consulting, in its fiscal year-end SEC …
