U.S. Specialty Insurance Co. News

Sirius XM Sues D&O Insurers, Seeks to Recoup Post-Merger Defense Costs

New York-based satellite radio services company Sirius XM Radio Inc. filed a lawsuit against two directors and officers insurers last week. Sirius XM alleges XL Specialty Insurance Co. and U.S. Specialty Insurance Co.(USSIC) breached their contract by failing to provide …

MF Global Executives Win Access to Insurance Monies for Defense

Former MF Global Holdings Ltd. Chief Executive Jon Corzine and other company officials won court permission to tap as much as $30 million of insurance money to defend lawsuits over the futures brokerage’s collapse. Tuesday’s decision by U.S. Bankruptcy Judge …

Judge Weighs Release of Insurance Monies for MF Global Defense

An MF Global bankruptcy trustee asked a judge on Monday to release $25 million in insurance money to pay defense costs for Jon Corzine and other former MF Global officers facing civil lawsuits over the broker’s October collapse. If paid …