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The $139 million settlement, which will be paid by the liability insurance for the board members, is the largest cash settlement in such a derivative case, according to one of the plaintiff's attorneys.
New York's attorney general is dropping a claim for damages in a high-profile civil lawsuit accusing former AIG CEO Maurice "Hank" Greenberg, of defrauding investors.
The insurance industry lost money on underwriting in 2012 and its rate of return of 5.9 percent fell far short of its long term average. But profitability is improving.
The insurance industry lost money on underwriting in 2012 and its rate of return of 5.9 percent fell far short of its long term average. But profitability is improving.
Market Luminary, a new online community for the property & casualty insurance industry, was formed to allow professionals to build relationships with colleagues, collaborate, network, rate vendors, and interact with experts.
Market Luminary, a new online community for the property & casualty insurance industry, was formed to allow professionals to build relationships with colleagues, collaborate, network, rate vendors, and interact with experts.
Independent agents have been losing ground in the battle for personal lines market share to captive agents and direct writers, but the Independent Insurance Agents & Brokers of America will soon unleash a technology portal it feels will make producers competitive again.
Insurance chief investment officers are more optimistic about investment opportunities than last year, and are looking to enhance returns by increasing allocations to equities, alternatives and illiquid assets, a new report says.
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