Legal
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Plus, the latest people moves and all the top news of the week. -
He and Fletcher stand accused of aiding Willis Re in an unlawful team lift.
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The company had argued the judge missed key info when dismissing the case.
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Marsh has accused its former execs of flouting a preliminary injunction.
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The executive argued that injunctions following team lifts were “the industry standard”.
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Court documents provide a window into the ambitious plans.
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Marsh is also seeking expedited discovery in a related talent poaching case.
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The lawsuit alleges that Marsh misnamed the insured party on the policy.
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Guy Carpenter continues to pursue Willis Re and individuals in court.
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Senior Willis Re recruit Jim Summers denied Kevin Fisher had a role at the start-up.
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Parties will now brief on a request for a preliminary injunction on an expedited timeline.
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GC accused Willis, Lucy Clarke, Jim Summers and John Fletcher of unlawful recruitment.
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A motion by defendants to dismiss the case was also denied.
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The move comes after the withdrawal of a complaint in the Delaware court.
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A New Jersey judge also refused to grant WTW’s request for a restraining order.
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Marsh is also suing a second tier of former Florida leaders.
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The Bermuda carrier brought a winding-up petition earlier in October.
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The broker said WTW hasn’t shown it was irreparably harmed by the defection.
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The executive is charged with defrauding investors out of nearly $500mn.
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Clear Blue originally filed the suit in late 2023, alleging reckless conduct and misrepresentation.
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Willis claims at least two $1mn accounts were also unfairly lost to Howden.
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Jonathan Rinderknecht was arrested Tuesday on destruction of property charges.
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After losing in the High Court, insurers pin their hopes on the Court of Appeal.
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IAG completed its takeover of RACQ last month.
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Plus, the latest people moves and all the top news of the week.
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A decision in relation to who bears which legal costs will be reached at a later date.
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Ex-Western Europe CRB head Alberto Gallego and colleagues left for a Marsh joint venture.
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The Berkshire subsidiary is seeking coverage for a $22mn antitrust loss.
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Litigation funders are promoting “aggressive” tactics in the UK, Holland and Israel.
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The carrier notified California regulators that it would stop renewing plans starting last month.
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James River said the court was right to dismiss the fraud case.
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Company said defendant ‘distraction’ can’t make up for flimsy arguments.
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The violations included not using propertly appointed adjusters and failing to pay claims.
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The lawsuit has been filed as sales talks with Sompo yielded a deal.
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Paul Jeroen van de Grampel drove Aon's M&A and litigation solutions proposition.
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Parrish, now Howden US CEO, and his colleagues said they didn’t violate contracts.
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A key hearing in the poaching case is set for 4 September in New York.
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The company was hit with a data breach on July 16.
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The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.
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The plaintiffs seek a declaration that part of Marsh recruits’ restrictive covenants are unenforceable.
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The suit asserts the raid will cause “incalculable harm” to the broker.
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The lawsuit claims more than 100 employees left with Parrish and his three reports.
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The broker has recruited from its rival as it looks to launch Willis Re 2.0.
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The insurer denies it is responsible for the actor’s legal fees.
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Liberty Mutual, Allianz and Aviva previously had their appeals dismissed.
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Fidelis, Liberty and Hive are among the insurers with the greatest exposure.
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The suit claims billions of dollars are being illegally withheld.
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Ian Roberts joined the law firm in 2013.
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The ruling comes as insurers face growing legal pressures following the January blazes.
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There is a growing disconnect between risk and pricing in the class.
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Jim Williamson said litigation funding had evolved into an investment class.
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There is the prospect of fragmented appeals and uncertainties around reinsurance recoveries.
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The carrier said it is disappointed with the English High Court’s decision.
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The UK High Court has ruled in favour of lessors in the multi-billion-dollar dispute.
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The documents figure in a potential criminal case against a CCB employee.
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Burford’s CEO said Chubb is inappropriately using its corporate power.
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In January, 32 Acquinex employees resigned, with 22 moving to Howden’s underwriting arm.
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The aircraft lessor has booked $654mn in settlements from insurers over the past year.
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AIG, HDI Global and others have settled. Chubb’s fight continues.
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Marsh alleges Aon also went after its clients as well as its employees.
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In January, 32 Acquinex transactional liability employees resigned for Howden’s underwriting arm, Dual.
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The tariffs could expose insurers to the risk of recession and shrinking income.
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The reinsurer said the probe concerns the alleged involvement of its former chairman.
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Integro’s debt outweighed Tysers’ earn-out plus proceeds from 9 million AUB shares.
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An issue has emerged in diligence, and Howden has a complex consortium to align.
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After a two-year delay, more than 100 staff investors will be out of pocket.
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Settlements relate to aircraft that were blocked from leaving Russia since 2022.
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Staff who left SRG’s MX Underwriting will begin working for Canopy this year.
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The distribution firm has accused the MGA platform of illegally recruiting staff.
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The appeals court has ruled that composite policies provide multiple limits.
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The aircraft lessor said it did not expect additional recoveries.
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Financial details will not be revealed until the publication of Avolon’s full-year results.
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Brokers and insurers must obtain informed consent from clients for the commissions.
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The restructuring arrangement is designed to protect creditors.
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This follows a ruling to declass the representative proceeding filed against IAL.
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CEO McManus vows broker “will not be silent” over “unlawful” competitor behaviour.
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The court will consider appeals against initial judgments that found in policyholders’ favour.
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A California ruling could set an important precedent as other courts consider similar cases.
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The regulator alleges customers were promised discounts they did not receive.
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Current efforts to battle third-party litigation funding are focused on disclosure.
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Starr is understood to be one of several carriers to reach an in-principle agreement with AerCap.
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The settlement was announced by DAE’s lawyer Alistair Schaff on day one of the aviation ‘mega trial’.
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The ruling is the latest in a series of ongoing legal wranglings over Covid-19 BI losses.
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The 12-week trial is set to commence in the Commercial Court in London tomorrow.
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The Court of Appeal ruled that ‘at the premises’ wordings provide coverage for Covid-19 losses.
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James River will also oppose a Fleming motion to uncover additional documents.
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The judge relied heavily on a previous UK court decision.
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NatGen allegedly collected $500mn associated with the fraud.
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Beazley has two days to amend its complaint, correcting jurisdictional deficiencies.
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The Bermuda courts will assess Onex’s lower, revised offer for the fronting unit.
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MGAs are looking hard at capacity arrangements for fear of regulatory action.
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Crystal Palace, Aston Villa, Brighton & Hove Albion and West Ham have reached a settlement.
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The funding practice has led to a dramatic increase in claims amount, which in turn pushes up rates.
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BOC is believed to be the first lessor to publicly disclose a settlement with its (re)insurers.
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Insurers claim that damage from the “detonation of an explosive” is also excluded.
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The agreement from Fleming to honour original terms still leaves it open to long-term damage.
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Fleming had attempted to land ~$78mn in ‘economic concessions’ on the deal.
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The six execs left Acrisure for rival broker Woodruff Sawyer in March.
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The judge said the lessors “are very unlikely to obtain a fair trial in Russia”.
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The narrative of competition between the two hubs can hold space for benefits.
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The agency will track the potential impact of the lawsuit on James River’s ratings.
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Nord Stream has named Lloyd’s Insurance Company and Arch among the defendants.
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James River sued Fleming yesterday to enforce the $277mn sale of its casualty re unit.
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Fleming has claimed breach of contract and is seeking roughly $78mn in “economic concessions”.
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Procedural expenses in the case have been as high as $100,000 per day.
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Vesttoo is unable to make a similar request again.
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The firms say no “single aggregating event” caused the contingency losses.
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The carriers were in arbitration with UnipolRe and Gen Re.
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The probe concluded in Q4 last year, according to Gallagher’s 10-K.
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There remain 22 defendants still challenging the venue for claims hearings.
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The committee claims Chaucer waited until it had ‘maximum leverage’ over other debtors.
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The court gave a mixed ruling on subjects including coverage, aggregation and furlough.
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The investment comes in exchange for a $49mn surplus note from HOA and the acquisition of HOA’s rights to potential claims stemming from the Vesttoo fraud.
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The syndicate is suing its reinsurers to cover Covid-19-related claims in California, Colorado, Florida, Illinois, Nevada, New York and the UK.
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In total, insurers paid indemnity of $11bn and loss adjustment expenses of $1.5bn for claims closed in 2022.
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Thursday’s announcement means that the Russian insurer is off the hook for claims proceedings.
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Aircraft lessors have now received nearly $2.4bn in insurance settlements from Russian airlines.
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The “convenience claims” route to payout will be limited to claims up to $200,000.
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The lawsuit, filed Thursday on behalf of Clear Blue and its subsidiaries, alleges that Aon conducted insufficient due diligence on the ILS InsurTech.
