Yearly Archives: <span>2017</span>

Court Revives Whistleblower Claim Against Wells Fargo

Wells Fargo & Co. faces a new legal worry after a federal appeals court last Thursday revived a whistleblower lawsuit by two former employees who said they were fired for trying to report misconduct by lenders that the bank later …

Irma Update: Tropical Storm Exits Florida for Georgia After Flooding Cities, Cutting Utilities

Downgraded from a hurricane to a tropical storm, Irma flooded several northern Florida cities with heavy rain and a high storm surge on Monday as it headed out of the state after cutting power to millions and ripping roofs off …

After Powerful Mexico Quake, Authorities Evaluate if Cat Bond Payout Triggered

At least 61 people died when the most powerful earthquake to hit Mexico in over eight decades tore through buildings and forced mass evacuations in the poor southern states of Oaxaca and Chiapas, triggering alerts as far away as Southeast …

New Workers’ Comp Filing Submitted to California Department of Insurance

The Workers’ Compensation Insurance Rating Bureau on Friday submitted an amended Jan. 1, 2018 pure premium rate filing to the California Department of Insurance. The amended filing was based on the WCIRB’s recent review of June 30 loss experience, which …

Future of State Auto Insurance Group’s E&S Business Under Review

Columbus, Ohio-based State Auto Insurance Group (State Auto) is reviewing options for its excess and surplus (E&S) lines business, including a possible sale, the company said in an announcement. State Auto has a market valuation of about $981 million, according …

Motel 6 Will Settle Human Trafficking Suit Involving Los Angeles Property

Motel 6 has agreed to pay $250,000 to settle a lawsuit alleging one of its properties in Los Angeles was a base for sex trafficking, drug dealers and gang members. City Attorney Mike Feuer told The Associated Press on Wednesday …

California Bill Would Force Wells Fargo to Court Over Fake Accounts

The California Legislature backed a measure this week that could require Wells Fargo to go to court with consumers who say they were harmed by the bank’s fake account scandal. The legislation would prohibit the San Francisco-based bank in some …

Indian Insurer ICICI Lombard Hopes to Raise $892 Million with IPO

ICICI Lombard General Insurance Co Ltd’s initial public offering of shares opening next week aims to raise up to 57 billion rupees ($892 million), the latest listing in what is expected to be a record-setting year for India. India has …

Arkema Sued by Police, EMTs over Chemical Plant Fire after Harvey

Police and emergency workers filed suit on against French chemicals company Arkema SA, claiming it failed to take adequate steps to avoid a fire at its Crosby, Texas, plant after Hurricane Harvey. Seven police, fire and emergency medical technicians sued …

Hedge Funds Overseeing Cat Bonds Try to Remain Calm Over Irma

Greg Hagood didn’t have many details to work with on Thursday afternoon. Hurricane Irma wasn’t expected to make landfall in South Florida for another 64 hours. Projections for its path were all over the place, especially considering that a centimeter …