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Starting on February 1, 2018, the Alaska Department of Commerce, Community & Economic Development, Division of Banking & Securities will start accepting applications for the Money Transmitter License on NMLS. The checklist for the license will be available here shortly. Current licensees mus...

Sompo International, a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that its U.S. Insurance platform has reached an agreement to purchase the operating subsidiaries of Lexon Surety Group LLC (Lexon). \ Lexon, the second largest independent sure...

PITTSBURGH – A California company that issues performance bonds alleges that two entities and an individual have failed to perform their obligations under a bond.

Developers Surety and Indemnity Co. filed a complaint on Dec. 19, 2017, in the U.S. District Court for the Western of Pennsylvania against...

Law360, New York (December 13, 2017, 7:03 PM EST) -- Oklahoma Surety Co. is still on the hook for roughly $1 million in damages for denying coverage to a general contractor over a shoddy workmanship suit after the Fifth Circuit on Tuesday affirmed a lower court’s ruling that found the insurer had br...

A federal appeals court has reversed its earlier ruling and held a Travelers Cos. Inc. unit is not obligated to pay a subcontractor in a public project under its payment and performance bonds.

The complex case involves Pearl, Mississippi-based McMillan-Pitts Construction Co. L.L.C., which was selecte...