Legal
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A New Jersey federal judge rejected insurers’ request to throw out key counts in the lawsuit.
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Peddler of death sticks boil and bake, fossil-fuelled power group in the cake; fast-fashion firm with supply chain woes, arms maker in the cauldron goes.
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A suit would be a major test of legislation making insurers liable for losses arising from the late payment of claims. -
Commercial real estate investor Capital Crossing said Mapfre paid only $2.6mn after it reported damage to 228 insured locations.
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The Puerto Rican carrier pegs the claims it is fighting to recoup from reinsurers at $56mn.
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The company is fighting a lawsuit filed by KBW over the delisting of $1.2bn in preferred securities from the NYSE in connection with a buyout.
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The carriers pledge to resolve a coverage dispute quickly as advisory firm Mactavish maintains they botched an investigation into a £30mn claim.
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The syndicates faced allegations that they conspired with brokers to rig the US commercial insurance market.
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Arch Capital backed hedge fund carrier’s outlook graded “stable”.
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The jurisdiction remains on the grey list, pending work on collective investment funds.
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Jonathan Evans, a former insurance lawyer, will take over after Lord Hunt steps down in December.
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Jim Beck is accused of reaping $2mn in illegal proceeds through a fraud involving the Georgia Underwriting Association.
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