directors and officers insurance News

Famous Gulf Coast Restaurant and Owner Fined $1.5M for Mislabeling Seafood

GULFPORT, Miss. (AP) — A Mississippi Gulf Coast restaurant and its co-owner it were sentenced Monday on federal charges of mislabeling inexpensive imported seafood as local premium fish. Mary Mahoney’s Old French House, founded in Biloxi in 1962 in a …

Former Ga. Insurance Commissioner, Now in Prison, Surrenders Law License

ATLANTA (AP) — Former Georgia Insurance Commissioner John Oxendine, now in federal prison, has surrendered his law license after pleading guilty to conspiracy to commit health care fraud. The Georgia Supreme Court, in a brief decision on Tuesday, accepted Oxendine’s …

Sponsor of Florida Anti-Squatting Bill Indicted on Forgery Charges

TALLAHASSEE, Fla. (AP) — A Republican state representative in central Florida, a lead sponsor of an anti-squatting property rights bill signed into law this year, has been indicted on felony forgery charges related to her administration of a private Christian …

Alabama Shipbuilder Austal to Pay $24M to Settle Accounting Fraud Probe

MOBILE, Ala. (AP) — Austal USA, an Alabama-based shipbuilder that makes vessels for the U.S. Navy, has admitted wrongdoing and agreed to pay a $24 million fine to settle an accounting fraud investigation, the U.S. Department of Justice announced Tuesday. …

Florida Coach and Co-Defendants Ask Court to Drop Jaden Rashada NIL Lawsuit

GAINESVILLE, Fla. (AP) — Florida coach Billy Napier and two co-defendants on Tuesday filed motions to dismiss quarterback Jaden Rashada’s lawsuit regarding a failed name, image and likeness deal worth nearly $14 million. Napier, Florida booster/automotive technology businessman Hugh Hathcock …

Mississippi City Councilman Pleads Guilty to Selling Doctored CBD Products

GULFPORT, Miss. (AP) — A Mississippi city council member pleaded guilty to federal charges after running a multimillion-dollar illegal drug business, prosecutors said last week. Biloxi City Council member Robert Leon Deming, III, 47, reached a plea agreement with the …

Abuse Probe Into New Orleans Catholic Clergy Expands

NEW ORLEANS (AP) — Authorities have expanded an investigation of clergy sexual abuse in the Roman Catholic Church in New Orleans to include senior church officials suspected of shielding predatory priests for decades and failing to report their crimes to …

US D&O Insurance Segment’s Improved Results Unlikely to Be Sustainable: Fitch

The U.S. directors and officers (D&O) liability insurance segment’s strong underwriting profit of 2023 is unlikely to be sustainable, according to Fitch Ratings in a report. Fitch attributed this reality to declining premium revenues from lower premium rates, as well …

IVF Clinic Insurance Affected by Ruling as Alabama Lawmakers Look for a Fix

MONTGOMERY, Ala. (AP) — Lawmakers began scrambling for ways to protect Alabama in vitro fertilization services after multiple providers paused treatment in the wake of a state Supreme Court ruling that frozen embryos could be considered children under a state …

Owens Corning to Buy Tampa-based Masonite International for $3.9 Billion

(Reuters) – Owens Corning said on Friday it will buy door maker Masonite International for $3.9 billion in an all-cash deal, as it looks to beef up its home-building portfolio and expand its reach. Owens will acquire all outstanding shares …