Marsh & McLennan Cos Inc agreed to sell investigations unit Kroll to a firm led by former Marsh CEO Michael Cherkasky for less than the insurance broker paid for Kroll six years ago. MMC said on Monday it plans to …
Flood Lapse “These short putts down a long fairway set a dangerous precedent that leaves homeowners vulnerable.” —David A. Sampson, president and CEO of the Property Casualty Insurers Association of America, commenting on yet another temporary extension of the National …
The Democratic Rural Conference of New York is backing former Insurance Superintendent Eric Dinallo for the party’s nomination for attorney general. Dinallo won among a field of five Saturday in the straw poll that’s often been a bellwether for the …
U.S. regulators should clamp down on Wall Street innovation to prevent firms from creating “Frankenstein” financial products with no substantial value to the public at large, former New York attorney general Eliot Spitzer said on Wednesday. Spitzer, the former New …
New York state prosecutors have “a devastating case” against Maurice “Hank” Greenberg, the former American International Group Inc. chief executive accused of fraud over a reinsurance transaction 10 years ago, the presiding judge said in court Tuesday. After four hours …
The financial crisis and its aftermath may yet revive the political career of disgraced former New York Governor Eliot Spitzer, the author of a new book about Spitzer says. Other politicians might have been finished by the scandal surrounding Spitzer, …
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 …
American International Group Inc. will pay $9 million to settle an Ohio antitrust lawsuit accusing it of conspiring to fix commercial casualty insurance prices. Ohio Attorney General Richard Cordray had accused AIG and other insurers of conspiring with insurance broker …
Maurice “Hank” Greenberg, the former chief executive of American International Group Inc., will testify Wednesday over a sham transaction involving the insurer and a unit of Warren Buffett’s Berkshire Hathaway Inc, a judge ruled. New York State Supreme Court Justice …
The nation’s largest insurance brokers have received the go-ahead to begin accepting contingent commissions again — but two of them say they won’t do it. Officials in New York, Illinois and Connecticut have agreed to amend agreements under which the …
