Catastrophe modeling firm AIR Worldwide reported that Tropical Cyclone Rusty came ashore with 1-minute sustained winds of 136 km/h [85 mph] and gusts to 170 km/h [106 mph]. AIR described Rusty as a “severe tropical cyclone—a category 3 storm by …
Royal Bank of Scotland has set aside another £1.1 billion ($1.667 billion) to compensate customers for mis-selling two types of products, and rivals are expected to increase their provisions too in the coming days. UK banks have set aside more …
The UK’s Arc Legal Assistance announced that it has been appointed by real estate agents Rent4sure to “provide a range of comprehensive Managing Agents and Residential Landlord Legal Expenses and Rent Protection Insurance schemes. The schemes will also see the …
A federal bankruptcy judge approved the liquidation plan for Dewey & LeBoeuf on Wednesday, a milestone in the winding down of the collapsed law firm that paves the way for creditors to recover tens of millions of dollars.U.S. Bankruptcy Judge …
BP Plc took chances drilling its doomed Macondo well long before it ruptured in 2010, a well design and pressure expert said on Wednesday in the second day of testimony in the civil trial over the Gulf of Mexico oil …
Two U.S. Congressmen introduced a bill on Wednesday that would penalize companies that file frivolous patent infringement lawsuits, derided by critics as “patent trolls.” Representatives Peter DeFazio, an Oregon Democrat, and Jason Chaffetz, a Republican from Utah, sponsored the bill, …
A boat collided with an inactive oil and gas well near New Orleans on Tuesday night, causing a small oil spill, the U.S. Coast Guard and the operator of the well said on Wednesday. The accident occurred at about 7 …
The Federal Emergency Management Agency has released new advisory maps for Manhattan that include the World Trade Center site in the zone seen as most at risk for flooding during a powerful coastal storm.The maps released this week were in …
Kim Gately has joined Lockton Denver as a member of its expanding energy practice. Gately, who serves as vice president and account executive, specializes in structuring complex insurance programs and creating risk management solutions for fast-growing firms in the energy …
A Northern California business owner has been sentenced for workers’ compensation insurance premium fraud and pay over $2 million in restitution to insurers, the California Department of Insurance announced on Wednesday. Teresa Reif, 34, of Redwood City, Calif., who originally …
