Litigation

Nearly two years after Hurricane Ike destroyed the town of Galveston, Texas, the Texas Windstorm Insurance Association reached a $189 million settlement with policyholders.

The industry's latest bout with the credit-based insurance scoring opposition ended with a victory in Michigan's highest court.

A three-judge panel has denied the federal government's request to reinstate a six-month deepwater drilling moratorium pending the government's appeal of a lower court decision that lifted the moratorium last month.

Liberty Mutual Insurance Company has sued Goldman Sachs & Co., alleging that the investment bank misled the insurer about two now-worthless preferred stock offerings of the Federal National Mortgage Association (Fannie Mae).

The Doctors Company will acquire American Physicians Capital Inc. (APCapital) for approximately $386 million, the companies have announced.

The House has passed legislation that allows recovery of noneconomic damages for maritime death victims' families, starting with the 11 workers that died in British Petroleum's current oil rig disaster.