Isha Marathe

AIG lost a key ruling in its fight with former executives at AIG Financial Products (AIGFP), after a Delaware bankruptcy judge found that roughly $37 billion in funding the unit received after the 2008 recession was equity rather than debt, setting up a potential appeal as the trial enters its second phase.

A Florida federal court judge has denied Hub International's request for a temporary restraining order against its former producer ​Justin Sorensen, now at Alliant, accusing him of violating a ‌non-solicitation agreement.

USI Insurance Services has sued three former producers, alleging that they violated their restrictive covenants by helping move clients representing over $300,000 in annual revenue to Howden, as the UK-based retail broker continues its expansion into ​the U.S. market.

WTW has sued Lockton and 18 former employees, alleging that its rival orchestrated a coordinated raid on its Michael Scott and Thomas Grandmaison-led New England construction practice and setting in motion the transfer of over $5 million in annual client revenue ​within days.

State Farm lawyers said that AI-assisted court filings they submitted in a California insurance dispute contained seven non-existent case citations, after opposing counsel asked a judge to consider sanctions over what they described as fabricated cases, quotations and legal holdings.

Truist Bank said U.S. Specialty, Axis and Federal Insurance breached their contracts and refused coverage in bad-faith, escalating a dispute over the bank’s settlement of an overdraft class action where it incurred $240 million.

Marsh and Zurich are among companies who signed an open letter from OpenAI calling for a set of collective ​responses to what the creator of ChatGPT sees as ‌a wave of widespread AI-enabled cyberattacks putting at risk "hospitals to water treatment plants to the infrastructure that powers the internet."

Usurance Insurance has started underwriting business in the U.S. as a licensed carrier after receiving a certificate of authority from the ​Utah Insurance Department.

Members of Farmers Insurance Group have had the outlook on their a long-term issuer credit ratings revised to positive from stable ​by AM Best, while the agency has also affirmed those ‌ratings and the company's financial strength rating of A.

AM Best has removed from under review with positive implications and upgraded Aspen Insurance Holdings and ​its subsidiaries' financial strength rating to A-plus from A ‌and the long-term issuer credit ratings to “aa-minus” from “a.”