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The Fifth Circuit has stood by its decision to uphold receiver settlements resolving Stanford Ponzi scheme-related claims against two insurance brokers for a combined $133 million, a ruling that objectors argued contradicted an earlier rejection of a $65 million deal with a group of insurance underwriters.  

In opinions issued Thursday, a three-judge panel of the appeals court reached the same conclusion as it did in July to affirm the approvals of the two global settlements, which require Bowen Miclette & Britt Inc. and Willis to pay $12.85 million and $120 million...

State regulators on Thursday pulled the emergency brake on insurers fleeing California’s fire zones.

Insurance Commissioner Ricardo Lara announced a one-year moratorium banning insurers from not renewing policies for homeowners in wildfire-ravaged areas of the state.

“I have heard the same story again and again. People getting dropped by their insurance after decades,” Lara said. “To add insult to injury, many struggle to find coverage.”

As fires have grown increasingly destructive, the state has seen a corresponding exodus of insurers from the hardest-hit areas. More...

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