Insurers are planning to introduce a new product to help companies limit the financial fall-out when their brands or high-profile spokesmen such as Tiger Woods suffer reputational damage, reports the Financial Times.
DeWitt Stern, a 110-year-old US insurance broker, has already received expressions of interest from London underwriters about backing a reputational risk product it aims to launch early in 2010. Read more Abu Dhabi's biggest sovereign wealth fund has accused Citigroup of tricking it into agreeing to pay $7.5bn ((£4.6 bn) for overpriced stock, reports The Times. The Abu Dhabi Investment Authority (ADIA) wrote to Citigroup on Tuesday to demand more than $4bn in damages over a bailout deal struck between the two in November 2007. Citigroup, which is raising $17bn from investors to re...
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