Insurance
Credit Suisse Makes $180M Provision for Major Litigation Costs
Credit Suisse Group AG has made a 178 million Swiss francs ($180 million) provision for major litigation costs in the third quarter to help account for a long list of lawsuits and investigations that it’s trying to draw a line …
Read More People Moves: Argenta Taps AXIS Re’s Haynes as Marine XoL U/W; Fusion Names Senior Hires in Singapore, Hong Kong; BMS Appoints Tesei for European Energy Reinsurance
This edition of International People Moves details appointments at Argenta Syndicate Management Ltd. (ASML), Fusion and BMS Group. A summary of these new hires follows here. Argenta Appoints AXIS Re’s Haynes as Marine Excess of Loss U/W Argenta Syndicate Management …
Read More Colorado-Based Emergency Transport Companies Sued for Religious, Disability Discrimination
Emergency transport companies Global Medical Response, Inc. (“GMR”), American Medical Response, Inc. (“AMR”), and AMR’s subsidiaries located in Greenwood Village, Colorado, violated federal law by discriminating and retaliating against a nationwide class of applicants and employee first responders with sincerely-held …
Read More Global Insurance Rates Continue Rising at Slower Levels; Cyber Outpaces Other Lines
Global insurance pricing continued to rise, although at a slower pace, during the third quarter, which saw commercial insurance premiums increase an average of 6%, down from 9% in Q2, according to Marsh’s Global Insurance Market Index. The biggest increases …
Read More Mechanical Issue May Have Caused Deadly Seaplane Crash Off Washington Island
SEATTLE (AP) – A mechanical issue may have caused the seaplane crash that killed 10 people off an island in Washington state last month, U.S. investigators said Monday. The National Transportation Safety Board, the agency investigating the Sept. 4 crash …
Read More South African Economic Hub May Be Terror Target, U.S. Warns
One of South Africa’s richest suburbs may be the target of a terrorist attack this weekend, according to an alert posted on the website of the US Embassy. “The US government has received information that terrorists may be planning to …
Read More Southern California School District Ordered to Pay $45M in Abuse Case
LOS ANGELES (AP) – A jury ordered Southern California’s Santa Monica-Malibu Unified School District to pay $45 million to the family of autistic twins who were physically abused and restrained by an aide at their elementary school. The lawsuit filed …
Read More No Reports of Damage From 5.1 Quake Strike in San Francisco Bay Area
SAN FRANCISCO (AP) – A magnitude 5.1 earthquake rattled the San Francisco Bay Area on Tuesday, causing delays of some commuter trains. There were no immediate reports of damage or injuries. The U.S. Geological Survey said the 11:42 a.m. quake …
Read More China’s Fosun Weighs Options for Hong Kong-Based Peak Re: Sources
Fosun International Ltd. is weighing strategic options for its Hong Kong-based Peak Reinsurance Co. as the Chinese conglomerate looks to pay down debt, according to people familiar with the matter. Fosun is working with a financial adviser as it considers …
Read More Indiana Man Pleads Guilty to Arson of Barn Fires
A man has pleaded guilty in connection with a series of barn fires set last year in several northern Indiana counties. An Elkhart County judge gave preliminary approval Monday to the plea agreement with Joseph Hershberger who was charged with …
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