A New York state judge on Monday rejected a bid by a unit of Chubb Ltd. and other insurers to dismiss a suit filed by JPMorgan in 2009 seeking to force them to reimburse it for claims.
A subsidiary of Chubb Corp. and other insurers must defend themselves against a lawsuit for refusing to cover more than $200 million paid out by Bear Stearns over illegal mutual fund trading practices, New York's highest court ruled on Tuesday.
Reacting to Aon insurance brokerage's announcement that its insurance unit is being sold, Bear Stearns dropped its earnings per share estimate for the firm, saying the loss of insurance investment inc