LandAmerica, Lloyd's $38M E&O Deal Isn't Fair: Insurers

Law360, Washington (February 17, 2012, 4:36 PM EST) -- A $38 million settlement that a LandAmerica Financial Group Inc. trustee struck with Lloyd's of London underwriters over errors and omissions insurance policy claims would deprive other insured parties of their rights under the policy, three other insurers told a Virginia bankruptcy court Thursday.

Gerard A. McHale Jr., liquidation trustee for LandAmerica 1031 Exchange Services Inc., asked the bankruptcy court to approve the settlement in January , saying it is a good alternative to a protracted legal battle for insurance coverage against the claims of 1031...
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