New York AG and Workers Comp Fund target CRM Holdings
January 1, 2010
Bermuda-based workers' comp insurance provider CRM Holdings is facing potential liabilities totaling more than $400 million as a result of a civil complaint and a separate enforcement action in New York.
Full story >>
Bermuda entities seek to rescind $550 m bond offering by Goldman Sachs
January 1, 2010
Several Bermuda entities, including mutual funds, trusts and reinsurer Ariel Re, are among parties suing Goldman Sachs and UBS Securities in an attempt to rescind a $550 million bond offering.
Full story >>
Aspen Insurance seeks to avoid paying Madoff-related legal defense costs
January 1, 2010
Aspen Insurance UK Ltd. and three Lloyd's of London underwriters are seeking a declaratory judgment at federal court in Denver to avoid paying out up to $25 million in defense legal costs relating to Bernard Madoff's fraudulent investment scheme.
Full story >>
Class action filed against Steamship Mutual by victims of oil refinery blast
January 1, 2010
A Bermuda-based protection and indemnity club has been named as a defendant in a class action lawsuit brought on behalf of "all residents" of San Juan, Puerto Rico and surrounding areas who suffered damages from a massive blast at an oil storage and refinery facility.
Full story >>
Healthcare-products firm seeks to enforce $25 m policies against Aspen & Lloyd’s
January 1, 2010
A U. S. manufacturer of personal care and healthcare-related products is suing Aspen Insurance UK Limited and Aspen Underwriting Syndicate 4711 in an attempt to enforce $25 million of coverage.
Full story >>
Stocks Round-Up: Strong end to the year for most local insurance stocks
January 1, 2010
During a period in which it received net proceeds of $574 million from a stock offering, Assured Guaranty was the best-performing Bermuda insurance stock in the two months from October 30 to December 31, 2009, increasing by 31% to close the year at $21.76—which was 4% higher than the early-December offering price of $20.90 per share.
Full story >>
US firms sue AXIS Re in attempt to enforce $5 m policy
January 1, 2010
AXIS Reinsurance Company is being sued in an attempt to force it to pay out claims of up to $5 million to cover legal defense costs incurred by insureds accused of defrauding investors in a mare-leasing program.
Full story >>
Class action filed against Enterprise-Rent-A-Car’s Bermuda captive
January 1, 2010
Following a fatal car accident, a class action lawsuit has been brought against the Bermuda-based captive of U. S.-based Enterprise Rent-A-Car Company and related parties.
Full story >>
Bermuda Supreme Court
January 1, 2010
Recently-Filed Business-Related Civil Lawsuits at Bermuda Supreme Court.
Full story >> |
