Judge Sticks By $11M Judgment Against Two Insurers

Law360, New York (July 7, 2011, 6:57 PM EDT) -- American Safety Casualty Insurance Co. and Interstate Indemnity Co. on Wednesday lost their bid to avoid paying more than $11.2 million to cover a judgment against an Illinois city in a civil rights case brought over a wrongful rape conviction.

U.S. District Judge Virginia Kendall shot down motions by the two insurers to amend the multimillion-dollar judgment handed down in March. She ordered primary insurer American Safety to pay $2.2 million to Waukegan, Ill., and excess carrier Interstate to pay the city about $9 million. Waukegan...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.