financial institutions News

Lloyd’s Gets to Keep $3 Million Because FDIC Waited Too Long to Collect

Lloyd’s of London does not have to pay the U.S. government’s Federal Deposit Insurance Corp. $3 million in judgment interest because the FDIC waited too long —18 months after a final judgment — to try to collect it. The action …

BHSI Names Amandi from Allianz as Head of Financial Institutions in Germany

Berkshire Hathaway Specialty Insurance (BHSI) announced that it has named Dr. Frank Amandi as head of Financial Institutions, for Executive and Professional Lines in Germany. Amandi has more than 20 years of experience spanning international insurance, underwriting, claims and product …

BHSI Expands Cover for UK Financial Institutions with D&O and Civil Liability Policies

Berkshire Hathaway Specialty Insurance (BHSI) has introduced two new policies tailored specifically for UK financial institutions: Professional First Financial Institutions Civil Liability Insurance, and Executive First Financial Institutions D&O Liability Insurance. “Both policies clearly articulate broad coverage for liability exposures …

Reuters: Banks Cite Liability Risks, May Not Participate in Coronavirus Lending Plan

Thousands of U.S. banks, including some of the country’s largest lenders, have said they may not participate in the federal government’s small-business rescue program due to concerns about taking on too much legal and financial risk, five people with direct …

Willis Towers Watson Taps Marsh’s Finbow as Head of FINEX Financial Institutions

Willis Towers Watson announced the appointment of Susan Finbow as global head of FINEX (financial, executive and professional risks) Financial Institutions. Based in Toronto, Finbow will be responsible for the direction and servicing of FINEX Financial Institutions teams and client …

Aon’s Quintal Jumps to Marsh’s Financial Institutions Practice

Insurance broker Marsh announced the appointment of Jacqueline Quintal as a managing director in its U.S. Financial Institutions Practice. In this role, Quintal will bring together transactional and risk advisory brokerage, claims, and consulting resources for financial institution clients throughout …

Ascot Launches U.S. Management Liability and Financial Institutions Unit

Ascot is launching a Management Liability and Financial Institutions group, led by Ryan Becker as executive vice president. The new group will offer a wide range of admitted and non-admitted, primary and excess directors & officers (D&O) and financial institutions …

Alex and Ani Jeweler Alleges Lending Gender Bias by Bank

A few short years ago, jewelry maker Alex and Ani LLC was the public example of a happy Bank of America Corp. customer. Now, it’s suing the lender for more than $1 billion in damages and alleging discrimination. The female-led …

WTW Taps Lockton’s Keville as Relationship Mgr in FINEX Financial Institutions Practice

Willis Towers Watson has appointed Henry Keville as lead relationship manager for Asset Management in the company’s FINEX Financial Institutions practice. Keville will join other specialist team members who provide tailor-made management liability product solutions and programs for the asset …

Chubb Names Kennett as Head of Financial Institutions for UK, Ireland and Global Mkts.

Chubb has appointed Jonathan Kennett as head of Financial Institutions for the UK and Ireland and Chubb Global Markets (CGM), the insurer’s London market wholesale and specialty arm. In this role, Kennett will have responsibility for the leadership, strategy and …