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Daily NewsFlash : February 07, 2013

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Thursday, February 07, 2013

In the Aftermath of Sandy Excess Flood Prices Likely to Rise As Awareness Increases

Excess Flood insuranceInterest in excess flood insurance in the aftermath of Hurricane Sandy is peaking, bringing with it the potential for harder pricing as providers deal with demand increases and storm losses, industry experts say.

Patrick Small, who oversees Wells Fargo Insurance's flood...

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State Lawsuits Could Add to S&P Exposure

S&P and US LawsuitStandard & Poor's Ratings Services could face a much higher legal bill than the $5 billion sought by the federal government as more and more states join the battle against the credit-ratings firm.

A raft of lawsuits this week from attorneys general from several states, including Cali...

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RBS Pays More than $610 Million in Libor Probe

RBS and Libor ScandalRoyal Bank of Scotland Group PLC agreed to pay more than $610 million in fines to settle interest-rate-rigging charges with U.S. and U.K. authorities, and the bank's Japanese unit will plead guilty to U.S. fraud charges.

RBS is the third bank to acknowledge that its traders and ot...

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Staying the Course: Employers Show Commitment to Wellness Despite Economic Hard Times

Employee WellnessWellness programs are no longer a "soft" issue for organizations around the globe as employers increasingly recognize the value of employees' health and overall well-being to their organizations' bottom line. According to the latest report from Buck Consultants, A Xerox Company  employers cit...

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In E&O Lawsuits Filed Against Brokers Post-Sandy, the State Could Determine Who Wins

Insurance agency E&OBrokers may be caught in a wave of lawsuits and errors and omissions claims in the wake of Hurricane Sandy, but that won't mean ...

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Insurance Company to Sue Lance Armstrong for Millions in Bonus Prizes

Lance Armstrong insurer suitThe sports insurance company that paid Lance Armstrong more than $10 million in bonuses plans to file a lawsuit to recover its money, an attorney for SCA Promotions told CNN on Wednesday.

Jeffrey Tillotson said SCA has already asked the disgraced former cycling champ for the money ba...

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Louisiana Insurance Commissioner Denies State Farm's 16.6% Homeowners Increase Request

State FarmLouisiana Commissioner of Insurance Jim Donelon Monday rejected State Farm Fire and Casualty Co.'s request to hike its homeowner insurance rates 16.6 percent.

Donelon said the increase would have affect...

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