UK Gov’t Committee expresses concern over corruption and fraud in Bermuda
July 9, 2008
The United Kingdom Government has been asked to provide details of any and all steps it has taken to ensure that corruption and fraud in Bermuda are "properly investigated".
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Class action brought against Arch Specialty Insurance over Florida deductibles
July 9, 2008
A class action complaint has been filed in Florida against a subsidiary of Bermuda-based Arch Capital Group Ltd. on behalf of all insureds who filed claims for hurricane damages and had deductibles and penalties reduced from their payments.
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Arch Insurance joins attempt to avoid paying out under Refco D&O policy
July 9, 2008
A US subsidiary of Bermuda-based Arch Capital Group Ltd. has become the latest insurer to seek to avoid having to pay out on an officers and directors liability policy regarding former officers of failed New York-based financial services group Refco.
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XL Capital shares plunge 41% during awful month for Bermuda insurance stocks
July 9, 2008
June was a terrible month for Bermuda insurance stocks, as reflected in a 9.4 % fall in the Bermuda Insurance Index, which ended the month at 988.35 — 1.2% less than its launch value of 1,000 on July 15, 1998, showing what poor value the Bermuda market has offered long-term investors over the last nine years.
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Donald Lines awarded $3 m damages against fraudulent process server
June 16, 2008
Bermuda-based businessman Donald Lines has been awarded damages of $3 million against a Massachusetts process serving company that falsely claimed to have served him with three securities fraud-related subpoenas on behalf of the U. S. Securities and Exchange Commission.
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