PG&E california wilfire

PG&E wins right to retain control of bankruptcy

2019-08-19T11:44:00+01:00

Bankrupt California utility company Pacific Gas & Electric (PG&E) will retain control of its multibillion-dollar bankruptcy process after a judge denied requests by two groups of creditors to file their own Chapter 11 exit plans.

Mercury General Corporation

Mercury’s record $27.6mn California fine upheld

2019-08-16T14:15:00+01:00

California’s Department of Insurance has claimed victory in a 20-year battle with a Mercury General subsidiary after the state’s supreme court denied the insurer’s petition appealing a $27.6mn fine.

California Senate building

Key vote on California’s disaster insurance bill scrapped

2019-08-15T15:41:00+01:00

Progress has stalled on a bill that would allow California to take out insurance and buy catastrophe bonds against wildfires and other disasters.

Harry-Parshall-Lloyds

Lloyd’s sued for “bad faith” by high profile investor Harry Parshall

2019-08-13T10:16:00+01:00

The Society of Lloyd’s is being sued by the high-profile London market figure Harry Parshall in a dispute which may test the boundaries of Lloyd’s liability to its members.

Florida Supreme Court

Florida Supreme Court dismisses closely watched AOB suit

2019-07-30T07:16:00+01:00

Citing reform that came into effect at the start of this month, the Florida Supreme Court has narrowly voted to reverse its decision to review a dispute over assignment of benefits (AOB) involving Ark Royal Insurance and a contractor.

Washington

Associations slam Senate NFIP bill’s WYO provision as unacceptable

2019-07-22T20:38:00+01:00

Insurance associations are strongly opposing a bill introduced in the US Senate that would extend the National Flood Insurance Program (NFIP) for five years.