Liberty Asks 7th Circ. To Ax $450M Workers' Comp Deal

Law360, New York (June 14, 2012, 6:44 PM EDT) -- Liberty Mutual Insurance Co. and several of its subsidiaries on Tuesday urged the Seventh Circuit to overturn a $450 million class action settlement that resolved claims that American International Group Inc. underreported premiums in a workers' compensation insurance pool.

Liberty Mutual contends that the settlement, approved by an Illinois federal judge, is unfair because it required the insurance giant to release $25 million in claims against AIG while being allocated nothing in return.

“Under Seventh Circuit precedent, a settlement that requires the release of valuable claims...
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