Liberty Mutual downplayed its recent victory when the New York Supreme Court declared that contingent commission agreements are not illegal. “Contingent commission agreements between brokers and insurers are not illegal, and, in the absence of a special relationship between the …
In a twist to a scandal that has rocked the insurance industry over the last several years, a New York appeals court has ruled that contingent commissions paid out by Boston-based Liberty Mutual Group Inc. are not illegal. The ruling …
Just days after a top state court ruled it was legal for insurers to pay so-called contingent commissions, the New York Insurance Department and Attorney General said they will hold joint public hearings on the compensation arrangements for insurance agents …
In a twist to a scandal that has rocked the insurance industry over the last several years, a New York appeals court has ruled that contingent commissions paid out by Boston-based Liberty Mutual Group Inc. are not illegal. The ruling …
New York will hire more minority- and women-owned debt underwriters, lawyers and risk managers and ease regulatory barriers that are “openly discriminating” against foreign reinsurers, Democratic Gov. David Paterson told reporters Thursday. Paterson, the state’s first black governor, who is …
American International Group, the world’s biggest insurer [by capitalization], replaced CEO Martin Sullivan on Sunday, June 15, after it suffered two quarters of record losses from risky mortgage bets and its share price more than halved over the past year. …
A man accused of running an escort service that led to the downfall of former New York Gov. Eliot Spitzer will plead guilty, his lawyer said. Murray Richman confirmed that Mark Brener, 62, will appear tomorrow in federal court in …
New York Attorney General Andrew Cuomo has tried to block a request by the former head of American International Group Incto delay a deposition on three-year-old allegations of financial misconduct. Former AIG CEO Maurice “Hank” Greenberg should be deposed “soon …
American International Group Inc. will have to surrender certain privileged documents to its former chief executive, according to a New York Court of Appeals ruling Thursday. Maurice “Hank” Greenberg, who ran AIG for nearly four decades, has been seeking the …
Maurice “Hank” Greenberg, the former head of American International Group Inc, said in an interview on Wednesday he voted against the reelection of the company’s board because directors have not made sure management met expectations. “I represent the largest shareholders, …
