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Daily NewsFlash : May 28, 2013

Daily NewsFlash
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Tuesday, May 28, 2013

U.S. Shuts Down Alleged Cyber Criminal Laundering Operation

Liberty Reserve cyber criminalsThe operators of what the authorities described as one of the world's largest online money laundering organizations, a central hub for criminals trafficking in everything from stolen identities to child pornography, were indicted on Tuesday by federal prosecutors in New York.


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AIG's Mortgage Fraud Lawsuit with Bank of America Continues in Federal, State Court

AIG-BofA lawsuitA federal judge in California has denied American International Group Inc.'s request to put its mortgage fraud lawsuit with Bank of America Corp. on hold while a similar action moves forward in New York state court.

U.S. Judge Mariana R. Pfaelzer denied AIG's motion to stay the case, but confirmed that ...

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Home Prices Jump 10.9%, Largest Annual Gain in Seven Years

Home prices upHome prices in March rose by 10.9% from a year earlier, the largest such gain in seven years, according to an index tracking home prices in 20 U.S. cities.

The Standard & Poor's Case-Shiller index, released Tuesday, showed that all 20 cities had posted year-over-year grow...

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FDIC Lawsuit Filings in 2013 at High Levels According: Cornerstone Research

FDIC litigationFederal Deposit Insurance Corporation litigation activity in 2013 associated with failed financial institutions could outpace that of the prior three years, according to "Characteristics of FDIC Lawsuits agains...

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Aon Benfield: Claims from Oklahoma Tornado Could Match Joplin in 2011

Oklahoma tornado loss estimatesWith early damage estimates from the tornado in Moore, Oklahoma nearing $2 billion, reinsurance broker Aon Benfield has warned that the insured losses from the storm could match those from the tornado that hit Joplin, Mo., in May 2011.

The Joplin storm set a record fo...

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FTC Fires Back in Wyndham Cybersecurity Case

Windham Cybersecurity caseThe Federal Trade Commission is offering a strong defense of its powers to police cybersecurity practices against a challenge by Wyndham Worldwide Corp.

We wrote about Wyndham's challenge earli...

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CA Insurance Agents, Professionals Register Free for Virtual Insurance Marketplace: May 29-30

Virtual Insurance MarketplaceThe third Virtual Insurance Marketplace (VIM) is taking place tomorrow, May 29th and Thursday, May 30th, combining the latest technology in webcasting, online chats, video streaming, and avatar graphics to offer the components of a p...

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Third TRIPRA Extension Bill Introduced in U.S. House

Terrorism billEfforts to keep the federal Terrorism Risk Insurance Program from expiring at the end of 2014 may be gaining traction on Capitol Hill. A third bill to extend the program has been introduced in the U.S. House of Representatives and already has the bipartisan support of 19 co-sponsors.

The latest bill, ...

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