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Daily NewsFlash : April 29, 2013

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Monday, April 29, 2013

S&P, Moody's Settle Ratings Lawsuit

S&P, Moody's settlementThe two major credit-rating firms settled a highly anticipated lawsuit on Friday, avoiding what would have been their first jury trial over crisis-era ratings.

Fourteen plaintiffs, led by Abu Dhabi Commercial Bank and King County, Washington, settled with Standard & Poor's Ratings ...

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LivingSocial Gets Hacked, 50 Million Customers' Info Accessed

LivingSocialLivingSocial, the daily deals site owned in part by Amazon, has suffered a massive cyber attack on its computer systems, which an email from CEO Tim O'Shaughnessy sent to employees said resulted in "unauthorized access t...

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Berkshire Hathaway Hires Four Senior AIG Executives

Berkshire HathawayWarren Buffett's Berkshire Hathaway Inc. has hired four senior executives from American International Group Inc., attracting people with experience insuring large and unusual risks to help it expand its commercial-insurance operations.

The defectors include Peter Eastwood, the head of AIG's U.S. prope...

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PwC Releases Latest Securities Litigation Study

PwC SEC reportWhile the first three quarters of 2012 saw an average of 46 cases, securities litigation filings decreased dramatically in the fourth quarter, to 33 cases--the lowest level since the 30 cases filed in the second quarter of 2009, according to the 17(th) annual Securities Litigation Study released by PwC U...

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New 'American Detours' Web TV Series Debuts Highlighting Classic Cars, Great American Roads

American DetoursAmerican Detours, a new web TV series pairing epic American roads with collector cars, premieres today on AmericanDetoursTV.com and at youtube.com/user/ AmerCollectIns. American Collectors Insurance is producing the series as a tribute to collecting hobbyists, classic cars, and great roads across Americ...

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Aon Strengthens Construction Services Group with Enhancements to Leadership Team

AonAon Risk Solutions, the global risk management business of Aon plc, today announced a bolstering of the Construction Services Group with several promotions and new team members. These personnel moves include Geoff Heekin as executive vice president of global construction, Michael Herrod as leader of the National Surety Practice...

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Florida Senate Passes Scaled-Back Citizens' Reform Bill

Citizen reform billFlorida's Senate passed legislation that would reform Citizens Property Insurance Corp., but only after accepting an amended version of the bill that scaled back provisions that likely would have caused rate increases, said Sam Miller, executive vice president of the Florida Insurance Council.

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