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Arch Apple - Group & Individual Health Insurance Plans in Garden Grove, CA Arch Apple Financial & Insurance offers Anthem group and individual health insurance plans in Garden Grove, CA. We spend time ...

Financial services firm secures $40 million coverage win from three insurance companies

The case began several years ago when TIAA was sued in a series of class actions in which it adamantly defended its practices and procedures and denied any wrongdoing, eventually entering into successful settlements. However, the company’s insurers didn’t want to pay out the defense costs, hinging their case on the argument that a settlement of a civil lawsuit involving claims for disgorgement was not necessarily an insurable loss under New York law.

Adam Ziffer, a principal at McKool Smith and part of TIAA’s representation, explained the opposition’s argument further: “Because New York law happened to apply, we think that there are some rules in New York which say that this is uninsurable, so yes, we agreed to sell you coverage for these types of claims, but now we’re going to say that New York law prevents us from giving you the insurance that you purchased.”

Though there was concern that the courts wouldn’t appreciate a distinction between TIAA’s case and previous suits with some similarities that also involved the SEC, the Delaware Supreme Court ultimately didn’t think much of the opposition’s case, said Ziffer.

Arch Capital to Open Headquarters in North Carolina

Arch currently employs approximately 575 people in North Carolina, and this project will bring several operational functions supporting Arch’s long-term growth to Raleigh, the governor’s statement said.

“The overall attractiveness of the area, combined with our existing operations in North Carolina and the incentives offered by the state were all factors in our decision to create an operational hub in Raleigh,” said Marc Grandisson, president and CEO of ACGL. “This region offers a talented and educated labor force, a collaborative business environment, and an appealing quality of life for our employees.”

Salaries for the employees will vary by position and include a wide variety of professional roles from entry level to executive.

North Carolina Insurance Commissioner Mike Causey said he welcomes the new Arch Capital Services division headquarters to the state.

“Arch Capital’s decision to invest in the state and bring 365 jobs to our region lines up with my vision for economic well-being for the insurance industry and consumers in North Carolina,” he said.

has anyone else had 'acclaim financial services' on their credit report?

theyre associated w/ arch wireless...very rude... and destroying my credit!