Insurers are not allowed to bring equitable subrogation actions premised on professional negligence against attorneys, the Colorado Court of Appeals has ruled. According to State Farm Fire and Casualty Co., as subrogee of Running Bear Homeowners Association v. Robert G. …
The government rescue of insurer American International Group Inc was necessary, in contrast to Lehman Brothers, because the insurer has extensive ties to other firms and retail products, senior Fed staff said on Tuesday. Financial markets were more prepared for …
On Sept. 16 at 11:25 p.m. EDT, the board of directors of American International Group Inc. issued the following statement in response to the announcement by the Federal Reserve Board that the Federal Reserve Bank of New York will provide …
State Farm Fire & Casualty Co. paid $250,000 to settle a lawsuit brought by a Biloxi, Miss. couple over damage to their home from Hurricane Katrina in 2005. Terms of the settlement were not disclosed Sept. 15 in U.S. District …
On Sept. 16 at 9:00 PM EDT, the Federal Reserve issued the following statement on AIG: The Federal Reserve Board on Tuesday, with the full support of the Treasury Department, authorized the Federal Reserve Bank of New York to lend …
An $85 billion government rescue of insurer American International Group Inc. looked increasingly likely Tuesday to stave off a bankruptcy that would have thrown world markets back into turmoil. The Federal Reserve will extend AIG $85 billion in exchange for …
State insurance officials from Pennsylvania and New York, where troubled American International Group’s insurance subsidiaries have a an estimated $120 billion in assets, are offering to assist AIG in raising much-needed cash by swapping its insurance subsidiaries’ liquid assets for …
Federal investigators said that audio recordings from a commuter train are missing required verbal safety checks between the engineer and the conductor in the seconds before the train collided with a freight engine, killing 25 people. The recordings, obtained by …
Federal officials investigating a commuter rail collision that killed 25 people said they want to review cell phone records to determine if an engineer blamed for running a stop signal before the crash may have been text messaging at the …