Litigation

A New York state appeals court threw out a suit brought by a number of banks against bond insurer MBIA over the company’s plan to split its mortgage-backed securities exposure into a separate company.

Discrimination charge filings in the workplace approached “an unprecedented” 100,000 during the fiscal year 2010.

Allstate Insurance Co. filed a federal lawsuit against Countrywide Financial Corp. late last month, seeking damages related to its purchases of more than $700 million in mortgage-backed securities from the company.

Liberty Mutual reached an agreement with two state attorneys general to pay a total of $7.5 million to settle allegations it engaged in a bid-rigging and kickback scheme with insurance brokers.

While market conditions, the weak economy and catastrophic events were among the most frequent topics NU reporters wrote about last year, the article that clearly stood out for our readers in 2010 dealt with insurance agency service issues.

American International Group Inc. (AIG) has tentatively agreed to pay $450 million to seven named insurance companies in order to settle a protracted federal civil lawsuit over alleged underreporting of workers' compensation premiums.