Ignorance On $1.25M Deductible Isn't Bliss: Miss. High Court

Law360, New York (February 25, 2013, 5:14 PM EST) -- The Mississippi Supreme Court ruled Thursday that a policyholder's failure to read an insurance policy doesn't excuse it from paying deductibles that were clearly stated, preserving a win for Lloyd's of London in a fight with nursing home companies over a $1.25 million deductible.

The state high court upheld a ruling that Southern Healthcare Services Inc. and operators of the Willow Creek Retirement Center and Jones County Rest Home have to pay Lloyd's more than $701,000 to reimburse the insurer for defense and settlement costs owed...
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.