Legal

Calamos Family Partners executives John Calamos and John Koudounis have filed a lawsuit against Exin founder Matt Fairfield in the Netherlands in their latest bid to recover more than $41mn in loans from the start-up, according to a report by Greek newspaper Kathimerini.

John Calamos and John Koudounis, financial backers of Exin, have accused company founder Matt Fairfield of taking positions “contrary to the truth” regarding their involvement in a EUR718mn ($897mn) bid to acquire Greek insurer Ethniki, in a Dutch lawsuit seen by The Insurance Insider.

The Chinese insurance regulator has seized Anbang Insurance Group and revealed the company's former chairman is being prosecuted for "economic crime".

California insurers led by Mercury and State Farm lost a bid to have the US Supreme Court review a law that requires prior state approval for consumer insurance rate hikes as the Justices refused to take up the challenge today.

Hiscox has been cleared in a criminal prosecution brought against the carrier by the UK Information Commissioner's Office (ICO) after the prosecution's key witness fell ill.

Lloyd's syndicates have settled its lawsuit with rap artist Kanye West over a disputed contingency claim, the website TMZ has reported.

Insurers that provided $130mn of D&O cover to Patriot National could face total losses on the policies unless a US bankruptcy court forces mediation of covered legal claims and temporarily halts related litigation, according to recent court filings.

The Information Commissioner's Office (ICO) has brought a legal case against Hiscox for allegedly breaching data protection laws in a landmark suit that could see the insurer hit with unlimited fines.

Early Exin backers John Calamos and John Koudounis claim that Matt Fairfield’s insurance startup refused to produce required financial records when requested last year and have asked a county court in Chicago to force Exin to hand over an audit report in a lawsuit demanding $41.7mn.

A ramping up of rhetoric from the local regulator, pending lawsuits and prospective legislation are combining to complicate the question of which firms will pay claims related to December's Californian mudslides.

Exin CEO Matt Fairfield has vowed his firm will continue to pursue its planned EUR718mn ($889mn) buy-in to Greek insurer Ethniki, despite a $41mn lawsuit from its former cornerstone backer which has left the future funding of the start-up uncertain.

One of the largest claims ever to hit the London political violence market has been settled for around $110mn, The Insurance Insider understands