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Monday, February 25, 2013

Gulf Coast States and BP Looking to Strike a Settlement

BP oil spill With a major civil trial scheduled to start Monday in New Orleans against BP over damages related to the explosion of an offshore drilling rig in 2010, officials from the U.S. government and five affected Gulf Coast states are trying to pull together to strike an 11th-hour settlement in the case.

A law...

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Government's Case Against S&P Has Current Employees Front and Center

S&P and US LawsuitAs ammunition against Standard & Poor's Ratings Services, the Justice Department packed its fraud lawsuit with vivid details about more than 25 employees who allegedly put triple-A ratings on shaky bundles of subprime mortgages-or dithered on downgrading the securities as the housing market...

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Greenberg: Private Insurers Better Able to Write Terrorism Coverage

Hank Greenberg & Terrorism coverageThe private insurance market could stand to benefit if the federal government got out of the terrorism risk insurance business, according to Maurice "Hank" Greenberg, chairman and chief e...

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Hiscox: Contractors Could Face Mold Claims from Sandy

HiscoxAs contractors continue to rebuild properties damaged by Hurricane Sandy, insurers could see a spike in environmental claims stemming from mold, said Dan Gmelin, the head of the

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U.S. Joins Fraud Lawsuit Against Lance Armstrong

Lance ArmstrongThe Justice Department has joined a lawsuit against disgraced cyclist Lance Armstrong that alleges the former seven-time Tour de France champion concealed his use of performance-enhancing drugs and defrauded his long-time sponsor, the U.S. Postal Service.

The lawsuit alleges that riders on th...

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Two Insurers Express Surprise Over NY Investigation of Sandy Claims Complaints

Sandy claimsTwo of the insurers being investigated by the New York Department of Financial Services over Hurricane Sandy claims complaints are countering that they paid the vast majority of claims.

The investi...

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IKEA Latest Company Affected in Europe's Horse-Meat Scandal

IKEAIKEA on Monday became the latest company to be drawn into Europe's snowballing horse-meat scandal, as the Swedish furniture giant said it has recalled a batch of meatballs that had been distributed to 13 European countries.

The move comes after Czec...

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