Tag: Errors & Omissions

PwC to Pay $335M Over Failed Audits of Alabama’s Colonial Bank: U.S. Regulator

A top U.S. banking regulator said on Friday that PricewaterhouseCoopers will pay $335 million to settle claims of “professional negligence,” after saying the auditor should have identified problems leading to the 2009 collapse of Alabama-based Colonial Bank. PwC did not confirm or deny the claims, but agreed to pay the settlement fine, the Federal Deposit… Continue reading PwC to Pay $335M Over Failed Audits of Alabama’s Colonial Bank: U.S. Regulator

Liberty Mutual Enhances Insurance Agents Errors & Omissions Program

Unrecognizable man signing a contract while financial advisor is aiming at the place he need to sign.

To better protect insurance agents, Liberty Mutual has strengthened its Agents Errors & Omissions Program, significantly enhancing, clarifying and revising key forms and endorsements. “We’ve made a great product even better,” notes Todd Stevenson, Underwriting Manager, National Insurance Specialty Programs, Liberty Mutual. “We’ve broadened key coverages, including a change from claims-made and reported to a… Continue reading Liberty Mutual Enhances Insurance Agents Errors & Omissions Program