Legal
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The PRA estimates that large firms could face one-off costs of up to £1.9mn to improve their resilience.
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The payout would remove a major obstacle to the settlement of $11bn in insurance subrogation claims.
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The broking giant alleges the founders of Infinite Equity stole trade secrets and violated fiduciary responsibilities. -
The broker has hired Tan Pawar from Paragon International to lead the new operation.
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The new conduct and governance regime will significantly increase regulatory requirements for brokers from next week.
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The BB&T-owned broker said its rival’s legal case and demand for a restraining order are driven by a “grudge” against a former employee.
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The broker said Carson and CRC launched a “frontal assault” on its business that won’t end without court intervention.
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Chile riots exposure, premium growth at Lloyd's, MS Amlin departures, and more.
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The firm provides real estate investors and developers across Europe, India and the Americas with cover.
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The lawsuit is over the departure of 13 employees who defected to NFP earlier this year.
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An unsuccessful appeal against the claim by 23 former UK executives could encourage similar actions by ex-employees in the US.
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Ricardo Lara urged insurers to be flexible over deadlines for loss notification and the submission of documents.
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