Legal
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The activist has filed a lawsuit in Florida state court alleging that FedNat is in violation of Florida law. -
At The Insurance Insider’s 2019 legacy roundtable, executives said holding the line on price would ensure the longevity and prosperity of the run-off market.
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A New York judge said KBW did not allege “any actual injuries” by claiming the move hurt its reputation.
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The judge said that the punitive damages were higher than constitutional limits set by the US Supreme Court.
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The trade association comes down against a major overhaul of existing (re)insurance regulation.
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The auto insurer will appeal the decision.
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The plan calls for the voluntary reduction of claims to $16bn, which would be converted into equity.
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The lawsuit comes after a probe by the NLRB was dismissed, and the EEOC had not yet reached a conclusion on the claims.
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The Chubb CEO hit out at the wave of litigation which often follows acquisitions.
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Insurers are increasing reserves due to a new laws expanding child victim compensation.
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The insurance company is opposing the Scouts’ bid to move the case to a local county court.
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The sanction comes after Berkshire Hathaway agreed to sell its stake in the workers’ compensation carrier to United Insurance.
