Legal
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The self-insured sector looks set to boom but the segment – and the intermediaries that serve it – are coming under increased scrutiny.
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CAC asked a judge to throw out a suit over the hiring of 30 employees and leave allegations involving Mike Rice to arbitration. -
The carrier said the blunder last August caused widespread disruption to its business.
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The dispute concerns whether insurers should pay out for damage from fire-related pollution.
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The parties agreed to a “mutual resolution of all claims”, noted Guy Carpenter’s legal counsel.
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The broking giant also resolved its case against four former employees who left for the smaller rival.
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The Corporation had previously failed to provide sufficient whistleblowing avenues for staff, the regulator said.
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Lawyers for the parties told a judge it has “agreed in principle” to settle the case against four former JLT Specialty staff members.
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The measure will now go to the White House to be signed into law.
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The move will release funds to insurers and subrogation rights holders, transferring losses from the Camp Fire and other 2017 events to the utility.
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Hardly a month goes by these days without a legal brawl breaking out between rival insurance brokers over employees decamping from one to another.
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The measure will mark the 14th short-term extension for the program since October 2017.
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