The Chubb Group of Insurance Companies has launched a new endorsement to help protect community banks from a more than three-fold increase in fraudulent online commercial transactions. The new endorsement to the ForeFront Security by Chubb Community Bank Bond expands …
Torus has expanded its U.S. management liability and professional lines practice with the addition of two new specialty insurance products: media liability coverage for the media & entertainment segment; and financial institution bonds offering for the financial institution customer segment. …
OSC, an insurance and risk management services and products provider for large and small financial institutions, has launched a Tenant Policy Offering (TPO) protection program for owners of rental properties. TPO pairs job-loss/unemployment protection with tenant liability insurance coverage. The …
The new federal agency charged with enforcing consumer finance laws is emerging as an ambitious sheriff, taking on companies for deceptive fees and marketing and unmoved by protests that its tactics go too far. In the 14 months it has …
A federal judge on Wednesday suspended several new lawsuits that allege banks rigged key interest rates, saying she first needed to sort through the issues in an earlier round of related lawsuits. U.S. District Judge Naomi Reice Buchwald said from …
Chartis has introduced enhancements to its fiduciary liability product for private companies, nonprofits and financial institutions. The company’s Fiduciary Liability Edge endorsement will provide coverage to address the rapidly expanding exposures facing employee benefit plan sponsors and their directors, officers …
Citigroup Inc. was sued for fraud by Loreley Financing over nearly $1 billion worth of collateralized debt obligations purchased in 2006 and 2007. Citigroup is accused of defrauding Loreley into purchasing “fraudulent investments that are now worthless,” Loreley said in …
BancInsure has partnered with KnightBrook Insurance Co. to provide coverage for financial institutions. The BancInsure Program will issue KnightBrook policies for its core products. “KnightBrook is an ideal partner for BancInsure and will provide additional resources and options to our …
A JPMorgan unit cannot force insurers to pay a $250 million settlement between failed investment bank Bear Stearns and government regulators, a state appeals court in New York ruled on Tuesday. Reversing a trial court, the appeals court threw out …
Liberty International Underwriters in Europe (LIU Europe), a member of Liberty Mutual Group, has appointed Guy Williams as Head of Directors & Officers and Financial Institutions (D&O/FI). He is an experienced insurance lawyer by background, specializing in financial professional risks. …
