![]() | ![]() | ![]() | Friday, September 3 2010 |

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Click Topic Below For Headlines AIG | Allstate | Chubb | CNA | Hartford | Met | Nationwide | Progressive | State Farm | Travelers | Zurich | Liberty Greenberg Among 20 Former AIG Execs to Reach $150 Million Settlement in ... - Trading Markets (press release) Source: HR Topics Posted on Aug 31, 2010 (2 days ago) Greenberg Among 20 Former AIG Execs to Reach $150 Million Settlement in ...Trading Markets (press release)The claims will be paid under AIG's $200 million 2004-2005 D&O insurance tower, according to court papers. The court papers did not name what insurance ...and more » Tags: tort,malpractice,liability,reform Stanford D&O trial begins as Pendergest-Holt settles - The Insurance Insider (subscription) Source: HR Topics Posted on Aug 31, 2010 (2 days ago) Stanford D&O trial begins as Pendergest-Holt settlesThe Insurance Insider (subscription)Nearly 18 months after The Insurance Insider first revealed that the directors' and officers' (D&O) cover for Stanford Financial Group (SFG) was placed in ...AIG D&O insurers reach $90mn settlementThe Insurance Insider (subscription)all 2 news articles » Tags: tort,malpractice,liability,reform Market Reaction to Earnings from ACE Limited; ACE, BRK-A, AIG, CB - Learning Markets Source: HR Topics Posted on Aug 31, 2010 (3 days ago) Market Reaction to Earnings from ACE Limited; ACE, BRK-A, AIG, CBLearning MarketsBerkshire Hathaway Inc. (BRK-A) [Chart - Analysis - News] is the largest company in the Property & Casualty Insurance industry (based on market cap), ... Tags: p&c insurers Motions to Dismiss Denied, Granted in Part in BofA/Merrill Merger Securities Suit Source: HR Topics Posted on Aug 30, 2010 (4 days ago)
Background In the whirlwind of events in mid-September 2008 that included the collapse of Lehman Brothers and the dramatic government bailout of AIG, BofA agreed to acquire Merrill Lynch. According to the allegations in the subsequent lawsuits, one of the important features of the merger negotiations related to 2008 bonuses scheduled to be paid to Merrill employees in January 2009. The complaint alleges that BofA agreed to a $5.8 billion bonus pool and agreed that the bonus payments could be accelerated so the payout occurred prior to year end 2008 and before the merger transaction closed on January 1, 2009.
The complaint alleges that these bonus arrangements were not disclosed to BofA ... Tags: tort,malpractice,liability,reform AIG's Insurers Settle Derivative Action Against Greenberg Source: HR Topics Posted on Aug 30, 2010 (4 days ago) As reflected in their agreement filed on August 26, 2010, the parties to the New York and Delaware derivative actions involving former AIG CEO Maurice Greenberg, as well as certain other former AIG directors and officers, have agreed to settle the case for a payment to AIG by its D&O insurers of $90 million. The agreement also provides that the insurers will pay $60 million to Greenberg and Howard Smith, AIG’s former Chief Financial Officer, for their legal fees. The settlement is subject to the approval of Delaware Chancery Court Vice Chancellor Leo Strine. Jef Feeley and Hugh Son’s August 27, 2010 Bloomberg article about the settlement can be found here. This derivative lawsuit settlement follows AIG’s $725 settlement of a related securities class action lawsuit, and also follows the $115 million settlement in 2008 of a separate shareholders derivative lawsuit involving directors and officers of AIG. Background In 2004, the first of many separate shareholders derivative lawsuits (later consolidated) were filed in New York and in Delaware, against AIG as nominal defendant, and against numerous former AIG directors and officers, including Greenberg and Smith. The investors alleged that AIG insiders to misstated AIG’s financial performance in order to deceive investors about AIG’s financial condition. The centerpiece of the lawsuit was an allegedly fraudulent $500 million reinsurance transaction in which various AIG insiders staged an elaborate artificial transaction with Gen Re Corporation. The complaint also alleged AIG insiders allegedly used secret offshore subsidiaries to mask AIG losses, misstated accounts with no basis for their adjustments, failed to correct well-documented accounting problems in an AIG subsidiary, and hid AIG’s involvement in controversial insurance policies that involved betting on when elderly people would die. The complaint also related to alleged bid-rigging ... Tags: tort,malpractice,liability,reform Analyst Reports on American International Group (NYSE: AIG) & Unitrin (NYSE ... - Trading Markets (press release) Source: HR Topics Posted on Aug 27, 2010 (7 days ago) Analyst Reports on American International Group (NYSE: AIG) & Unitrin (NYSE ...Trading Markets (press release)The Bedford Report analyst team is looking at the Property & Casualty Insurance Industry and has issued Analyst Reports on American International Group, ... Financial Stocks Trading Mixed (AIG, NBG, LYG) - Newsworthy Stocks (blog) Source: Auto and Home Posted on Aug 23, 2010 (10 days ago) Financial Stocks Trading Mixed (AIG, NBG, LYG)Newsworthy Stocks (blog)... insurance, real estate and consulting services. Lloyds TSB Group plc (ADR) (NYSE:LYG) went down 0.23% to $4.31 after 1.07 million shares of trade. ...and more » Tags: p&c insurers Federal appeals court reopens portions of bid-rigging suit - IFAwebnews.com Source: Liability Coverages Posted on Aug 23, 2010 (11 days ago) Federal appeals court reopens portions of bid-rigging suitIFAwebnews.com... Illinois National Insurance Co.; AIG Life Holdings (US), Inc. f/k/a American General Corp.; AIG Excess Liability Insurance Co. Ltd. f/k/a Staff Excess ... Tags: tort,malpractice,liability,reform Jeanine Plant-Chirlin, Brennan Center for Justice, - Common Dreams (press release) Source: "tort reform" - Google News Posted on Aug 16, 2010 (18 days ago)
Tags: tort,malpractice,liability,reform AIG No Longer Slashing Commercial-Insurance Prices - Wall Street Journal Source: Liability Coverages Posted on Aug 5, 2010 (28 days ago) AIG No Longer Slashing Commercial-Insurance PricesWall Street JournalChartis, the property and casualty unit of American International Group Inc. (AIG), has stopped slashing commercial-insurance rates like it ...and more » |
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