Litigation

Ambac claimants will receive cash and notes if a state court approves the Wisconsin Office of the Commissioner of Insurance's rehabilitation plan released Friday for the carrier's segregated account.

Standard & Poor's Rating Services said it expects no impact on the ratings of Horace Mann Educators Corp. after its chief executive resigned after one month into his 60-day sentence for a drunk driving charge.

Zurich Financial Services Group said its subsidiary, Farmers Group has agreed in principle to a $545 million settlement of a class action lawsuit that had accused the insurance group of overcharging for fees paid by the Farmers Exchanges.

A three-judge panel in the First District Court of Appeals in Florida denied a request from the state's insurer of last resort to dismiss a lawsuit against it based on the belief the government entity is immune.

Allstate Corp. has filed a subrogation lawsuit against Toyota Motor Corp. which seeks compensation for the more than $3 million the insurer said it paid out on accident claims related to

Ambac has sued Bank of America over the lending practices of Countrywide, the mortgage lending business the bank bought, saying the lender failed to follow its own standards when making loans.