Shareholders upset with ever-higher executive compensation packages are using new “say-on-pay” votes to challenge the payouts in court, a tactic raising eyebrows among legal experts. The lawsuits are zeroing in on companies that lose these advisory votes by shareholders on …
The recent hacker attack at Sony Corp. and other corporate data breaches are attracting more class-action lawyers eager to score a payday, though huge monetary settlements may be elusive. At least 25 lawsuits have been filed against Sony in U.S. …
More than 30,000 people are killed in car crashes each year in the United States. In addition to the toll on victims’ families and friends, crash deaths result in some $41 billion in medical and work loss costs, according to …
On a clear June afternoon, a tractor-trailer truck crested a small rise on a stretch of interstate highway in Oklahoma. Plainly visible in the distance were more than a dozen cars and trucks that had stopped while a fender-bender was …
A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A+’ (Superior) from’ B++’ (Good) and the issuer credit ratings (ICRs) to “aa-” from “bbb” of Keystone Insurance Company and its subsidiaries, AAA Mid-Atlantic Insurance Company (AAA MAIC) and …
The Allstate Corp. today announced $1.4 billion in estimated catastrophe losses for the month of April. The estimated April catastrophe losses total about $1.37 billion for the Allstate brand and about $30 million for Encompass brand. April catastrophe losses included …
Marsh has been named a 2010 NFIP Insurance Agency of the Year by the Federal Emergency Management Agency’s National Flood Insurance Program (NFIP). Patrice Collingwood, practice leader for Marsh’s Flood Service Center, accepted the award on behalf of Marsh earlier …
The ACE Group of insurance and reinsurance companies has appointed Jim Hageman as senior vice president for claims for global personal and small commercial insurance. Hageman will lead the global claims operations for ACE’s personal and small commercial lines, including …
White House officials Thursday planned to unveil a major legislative proposal aimed at improving U.S. cybersecurity and protecting the economy, an administration official said. The proposal is the result of two and one-half years of work. U.S. computers have long …
The U.S. risk council will give the public more time to comment on the criteria for picking so-called “systemic” financial firms, after lawmakers scolded the new council for being opaque on the process. U.S. bank regulator John Walsh said the …
