Sempra Wins $48.5M Over Bad Investment Advice

Law360, New York (October 30, 2008, 12:00 AM EDT) -- Sempra Energy has won $48.5 million against an insurance adviser that recommended a political risk policy that failed to protect the firm from millions of dollars in foreign investment losses when Argentina’s banks defaulted in 2001.

Sempra said in the complaint, which was filed in July 2007 in the Los Angeles Superior Court, that it relied on Marsh USA Inc., an insurance advisory company, to compare political risk insurance policies and present the best policy for Sempra’s investment in two Argentinean energy companies in 1996, but...
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