Banks Seeking New Protections in Wake of Citigroup’s $900M Mistake March 3, 2021 By Katherine Doherty and Lisa Lee Wall Street banks are seeking new legal protections to help avoid a repeat of Citigroup Inc.’s accidental $900 million payment...
Judge Denies Citibank Bid to Recoup Some of Mistaken $893M Payments to Revlon Lenders February 17, 2021 By Jonathan Stempel A federal judge on Tuesday said Citigroup Inc. is not entitled to recoup half a billion dollars of its own...
Hudson Gains Professional Lines Renewal Rights, Experienced Team from Validus January 7, 2021 Hudson Insurance Group has completed a business transfer agreement with Validus Specialty Underwriting Services for the renewal rights transfer of...
U.S. Consumer Agency Weighs Update of Rules on Access to Personal Financial Data October 23, 2020 The U.S. Consumer Financial Protection Bureau (CFPB) on Thursday said it is seeking public comment on a proposal to modify...
After Helping Shepherd Pandemic Loans, Banks Now Brace for Regulatory Risks October 21, 2020 By Lawrence Delevingne, Michelle Price and Koh Gui Qing Banks that facilitated the U.S. government’s Paycheck Protection Program at first saw the effort as a small revenue booster with...
BHSI Hires Kidd from AIG as Head of Third Party Lines in Ireland October 13, 2020 Berkshire Hathaway Specialty Insurance (BHSI) announced that Louise Kidd has joined its growing European team as head of Third Party...
Lloyd’s Gets to Keep $3 Million Because FDIC Waited Too Long to Collect August 25, 2020 Lloyd’s of London does not have to pay the U.S. government’s Federal Deposit Insurance Corp. $3 million in judgment interest...
BHSI Names Amandi from Allianz as Head of Financial Institutions in Germany July 21, 2020 Berkshire Hathaway Specialty Insurance (BHSI) announced that it has named Dr. Frank Amandi as head of Financial Institutions, for Executive...
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...
Reuters: Banks Cite Liability Risks, May Not Participate in Coronavirus Lending Plan April 2, 2020 By Pete Schroeder and David Henry Thousands of U.S. banks, including some of the country’s largest lenders, have said they may not participate in the federal...