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CFPB investigates captive mortgage reinsurance

  • Reed Smith LLP
  • -
  • USA
  • -
  • April 15 2013

The Consumer Financial Protection Bureau has entered into consent orders with four mortgage insurance companies involving captive reinsurance of

Lumbermens enters rehabilitation: what are the consequences for its policyholders?

  • Reed Smith LLP
  • -
  • USA
  • -
  • July 13 2012

Lumbermens Mutual Casualty Company and American Manufacturers Mutual Insurance Company (part of the Lumbermens Mutual Group and formerly known as Kemper) (“Lumbermens”), after years of struggling financially under the supervision of the Illinois Department of Insurance, recently entered rehabilitation proceedings

In Pennsylvania, insurance companies have no legal right to reimbursement of defense expenses

  • Reed Smith LLP
  • -
  • USA
  • -
  • September 8 2010

Insurance companies often have a contractually based "duty to defend" liability claims, such as those alleging that the policyholder caused bodily injury or property damage, when those claims are covered or potentially covered by the insurance policy

What is happening to AIG?

  • Reed Smith LLP
  • -
  • USA
  • -
  • March 2 2009

This morning, March 2, 2009, American International Group, Inc. ("AIG") announced a loss of $61.7 billion for the fourth quarter of 2008, a total net loss for 2008 of $99.29 billion, and a major restructuring of its operations, including a new federal infusion of $30 billion, forgiveness of certain debts, and relaxation of prior bailout terms