Insurers Avoid Coverage For Pension Fund Losses

Law360, New York (June 18, 2010, 4:48 PM EDT) -- An Oregon state appeals court has ruled that Travelers Casualty and Surety Co. of America and Hartford Fire Insurance Co. do not have to indemnify two Oregon pension funds for losses allegedly caused by their financial advisers because those advisers weren't employees of the funds.

Judge Rick T. Haselton, writing for a three-judge panel of the Court of Appeals of the State of Oregon, on Wednesday upheld a county court's decision that two insurance policies sold to Employers-Shopmens Local 516 Pension Trust and Western States Health...
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