Legal
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The move follows a temporary injunction by a Bermuda court pausing the litigation.
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More than half of attorneys surveyed by the carrier said litigation finance has prolonged the time it takes to settle losses.
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The CEO discussed the company’s response to a lawsuit by Capital Returns Management during a conference call Wednesday. -
The acquisition builds on the 2016 purchase of MGA Arc Legal.
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The Pennsylvania-based grocer has been named in multiple lawsuits by plaintiffs seeking to recover billions of dollars over opioids.
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The activist has filed a lawsuit in Florida state court alleging that FedNat is in violation of Florida law.
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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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