insurance policies News

Japan’s Tokio Marine Probing Validity of Greensill Insurance Policies

TOKYO — Japanese insurer Tokio Marine Holdings Inc said on Wednesday it is investigating the validity of insurance policies provided by its Australian unit to speciality finance firm Greensill. Greensill filed for insolvency on Monday after losing insurance coverage for …

South Carolina School District Sues Broker, Insurers

A South Carolina school district has sued an insurance brokerage and several insurance companies, saying the district was sold excessive policies and charged too much. The Berkeley County School District filed suit in U.S. District Court, seeking more than $42 …

Former Arkansas Insurance Agent Pleads Guilty to Premium Finance-Related Fraud

A Mount Ida, Ark., man has pleaded guilty to money laundering and wire fraud and prosecutors say he’ll serve five years in prison followed by supervised release and must pay back more than $7 million in restitution. But federal prosecutors …

All North Carolina Property Owners Bear Risk as Irene Nears

Every property owner in North Carolina has a financial stake in the damage risk posed by Hurricane Irene, which could become the first to hit the state since a new method of paying for coastal storm damage allowed for reaching …