Legal

The Suez Canal Authority has received a new compensation offer from the ship’s owners and insurers.

Aon and Willis were taken by surprise by the lawsuit, a CTFN report claims.

The broking houses also said they "remain fully committed to the benefits of [their] proposed combination".

Small business insurer Hiscox Insurance Co and Cox Radio reached a settlement on a long-term legal battle on Monday connected to the leaking of a sex tape involving the famed wrestler Hulk Hogan.

Kessler and Derez will each get something they want from the deal, which will also clean the slate for incoming CEO Rousseau.

A settlement allows the mutual an “orderly exit” from the reinsurer’s share capital and removes a major distraction from incoming Scor CEO Laurent Rousseau.

Hotel firms are fighting to reclaim $10mn in ‘inflated’ fees charged by a former broker nicknamed ‘the pirate of the Caribbean’.

The Suez Canal Authority has asserted the March grounding was entirely the fault of the ship’s captain.

The company is accused of “brazenly cheating” Andrew Kudera of his own money and of owed compensation, the lawsuit states.

In a statement on Thursday, Scor said it “acknowledges and welcomes” the findings from the French authority, calling the original allegations “a groundless move”.

The proposals aim to cut the cost of insurer collapses and provide greater protection to policyholders.

The Prestige oil spill caused major damage to the Spanish and French coasts in 2002 and has been subject to long-running litigation.