Articles
LONDON?Canopius Group Ltd., a specialist insurance group operating in London and Bermuda, said Wednesday it intends to establish a business unit in Dublin called Canopius Ireland. The new unit, set to launch later this year and which is subject to regulatory approval, will focus initially on...
BERN, Switzerland?Sexual harassment in the workplace affects more than half of Swiss workers, a new study reveals. The report, conducted by Switzerland?s Federal Gender Equality Office and the State Secretariat for Economic Affairs, found that 51.3% of workers in Switzerland encounter some...
HARTFORD, Conn.?A key witness in the trial of five former General Re Corp. and American International Group Inc. executives testified Tuesday about dozens of e-mails and phone conversations that allegedly show that a 2000 reinsurance deal between the two companies was a fraud. Prompted by Assistant...
NEW YORK?Moody?s Investors Service on Monday said it withdrew Concord Re Ltd.?s Baa2 insurance financial strength rating because the Bermuda-based sidecar?s loans matured and its reinsurance arrangement terminated on schedule. New York-based Moody?s also withdrew its Ba2 secured term loan rating...
A recent study concluded that 98.3% of insurers surveyed gave their employees average salary increases of 4% in 2006, and salary increases are expected to continue through 2008. The report, ?2007/2008 Survey Report on Compensation Policies & Practices in the Insurance Industry,? surveyed 61...
WASHINGTON?Investors cannot sue attorneys, accountants and other third parties that aided and abetted a publicly traded company in a securities fraud scheme that led to substantial investor losses, the U.S. Supreme Court ruled Tuesday. The case has been closely watched because of its affect on a...
WASHINGTON?The question of whether the Americans with Disabilities Act requires employers to offer disabled workers a vacant job if a more qualified applicant is available remains unresolved. The U.S Supreme Court, which agreed last month to review a case that would have decided the issue,...
Wage-and-hour litigation pursued under the federal Fair Labor Standards Act produced more rulings in 2007 than any other type of workplace class action and the pursuit of such litigation is expected to continue through 2008, according to an annual report by Chicago-based law firm Seyfarth Shaw...
BEIJING?Factory Mutual Insurance Co., which does business as FM Global, has opened a representative office in Beijing, the Johnston, R.I.-based insurer announced Tuesday. The approval to open the office by the China Insurance Regulatory Commission is the first step in the country?s process for FM...
WASHINGTON (Reuters)?Current and former chief executive officers of three major U.S. financial institutions deeply involved in the widening subprime mortgage crisis were asked on Monday by a Congressional committee to testify at a hearing next month on their massive pay and severance packages. A...
