Tyco settles with Chubb

Tyco International has paid US$92mn to its insurer Chubb as part of settlement which will enable the company to keep its directors & officers liability insurance cover for the last two years. The move, reported in the Wall Street Journal , was in response to Chubb’s lawsuit over Tyco and a number of its executives which aimed to rescind their D&O liability coverage, because of false information provided by the company.