Legal

The larger broker says it lost more than $6.5mn in revenue after leaders “solicited” colleagues and clients.

The law firm has already this year seen a lot of PE support for startups and scale-ups both through equity and debt.

The penalty comes after a Section 166 review into the Lloyd’s broker’s activities.

The move follows the brokers’ submission of a remedies package last week to allay competition concerns.

Senator Jeff Brandes and local insurance law experts tell this publication that the state’s insurance market will be hugely vulnerable without reform.

A New York court has ruled that the names of two clients who are friends with a broker who has left Willis Re to join rivals TigerRisk can be published.

The Swiss carrier denies signing off dangerous new-builds without full inspections.

The regulator raps the UK division for failure to disclose insurance giant’s holdings in Powergrid and Munich Re.

The potential for a wave of class actions as a result of biometric data privacy laws has the cyber market on alert.

The reinsurer argues the action was lodged to divert attention from alleged misconduct by the mutual’s CEO.

Covéa said it has filed a complaint against Scor chairman and CEO Denis Kessler with the Parquet National Financier financial crime office alleging “market manipulation and misuse of corporate assets”. Scor denounced the action as "deceitful and groundless".

The Swiss Bank said that the broker did not disclose issues around the supply chain financier’s insurance coverage.