Legal
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Executives Peter Barbara and John Drew seek monetary relief of more than $1mn, filings show. -
The carriers appealing the settlement include AIG’s Lexington Insurance, Travelers, Allianz Global Risks, Liberty Mutual, GenStar, Munich Re, Argo and Old Republic.
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The brokers are working on finalizing the terms in a written settlement agreement, which could be filed within two weeks.
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The attorney joins Clifford from Sidley Austin's insurance and financial services group, where he worked for 15 years and was a partner prior to his move.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The 222-page complaint describes fraud committed against various carriers, including Zurich, Tokio Marine and Everest in surety, D&O and homeowners’ insurance programs.
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The carrier argued it paid the executive the first installment of a $400,000 retention award in March 2020 and the second half in March 2021.
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K2 is requesting the court dismiss the case with prejudice, barring Argo from bringing the same allegations to another US court.
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According to court documents, eight of the broker’s former employees departed for the InsurTech’s new Boston office over a two-week period.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The motion comes a month after Carpenter sued the rival reinsurance broker over the "orchestrated” exit of 12 executives from its Dallas-based practice.
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A California court has denied a bid for $125mn in coverage following the forced suspension of filming.
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