Investors’ Suit Alleges Firm Inflated Stock with Misleading Claims About Its Covid Test June 17, 2020 By Andrew G. Simpson An investor lawsuit against a Utah company alleges its principals falsely claimed its coronavirus diagnostic test was “100% accurate” and...
BHSI Expands Cover for UK Financial Institutions with D&O and Civil Liability Policies April 14, 2020 Berkshire Hathaway Specialty Insurance (BHSI) has introduced two new policies tailored specifically for UK financial institutions: Professional First Financial Institutions...
Swedbank Slapped with Record $386M Fine for Money-Laundering Breaches March 20, 2020 By Colm Fulton, Johan Ahlander and Simon Johnson Sweden’s financial watchdog hit lender Swedbank with a record fine of 4 billion crowns ($386 million) on Thursday for serious...
D&O Insurers Urged to Adjust Rates, Underwriting for Risky Environment March 4, 2020 Directors and officers liability insurance has gotten trickier and will confront major new challenges over the next few years. Continued...
Danske Bank Ex-CEO Faces $387M Lawsuit over Money Laundering Scandal February 24, 2020 By Christian Wienberg The ousted chief executive of Danske Bank A/S, Thomas Borgen, has been personally targeted in an investor lawsuit arguing he...
Directors and Officers Face Significantly Higher Range of Risks: Allianz Report December 4, 2019 The range of risks facing company executives, or directors and officers (D&Os), has increased significantly in recent years along with...
BHSI Taps Warrior, Formerly with Hiscox, as Head of D&O Underwriting, UK & Ireland November 26, 2019 Berkshire Hathaway Specialty Insurance (BHSI) announced that it has expanded its European team with the addition of Chris Warrior as...
New Swedbank CEO, Hired from Folksam, Criticized for Ties to Scandal-Hit Bank August 29, 2019 By Veronica Ek, Hanna Hoikkala and Niklas Magnusson Sweden’s biggest shareholder group has criticized Swedbank AB’s choice of chief executive officer, arguing the board opted for an insider...
South African Retailer Steinhoff to Sell Assets After $7B Accounting Fraud August 13, 2019 Scandal-hit South African retailer Steinhoff said on Tuesday its only hope for survival is to sell off assets to become...
Fallout from Money Laundering Scandal Continues as Fines Loom for Swedbank July 17, 2019 By Frances Schwartzkopff Swedbank AB acknowledged it will no longer be able to live up to its goal of paying out one of...