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Can agents and brokers be liable to strangers, that is, people and businesses with whom they have no relationship at all, who never paid a premium on a policy they placed, and to whom they made no promises and had no communications? Can there be a duty without any relationship,...
Price increases for most insurance lines were in the low single digits, with the largest increase in commercial auto and employment practices liability.
Policyholders were paying his company premiums based on financial ratings, financial audits and insurance regulatory approvals that he fraudulently obtained.
AIG., which opted against joining Maurice Hank Greenberg in a suit against the U.S., became a victor in the case after a judge ruled that the former chief executive officer isnt entitled to compensation over the insurers 2008 rescue.
The U.S. set illegal terms in demanding AIG stock for an $85B bailout during the financial crisis, but that doesnt mean AIG investors deserve compensation, a court ruled.
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