British Judge Dismisses Investor Fraud Suit Over Lloyd's Asbestos Claims




LONDON - Global insurance giant Lloyd's of London escaped what some said would have been 'irreparable harm' to its reputation when a British judge ruled Nov. 3 that it did not defraud investors by allegedly withholding information about asbestos-related claims.

British High Court Justice Peter Cresswell threw out claims by nearly 200 investors who claimed Lloyd's hid the extent of widening losses suffered in its payout of asbestos workers' compensation claims.

The allegations arose after Lloyd's syndicates were tapped dry by asbestos claims and the insurer began demanding payments from investors under a deal it had struck with its investors, …






UPCOMING CONFERENCES




HarrisMartin's MDL Conference: Managing Mass Torts, Status of Key Litigations and Lessons Learned

March 29, 2023 - Tucson, AZ
Omni Tucson National Resort

MORE DETAILS



HarrisMartin's New Jersey Asbestos Litigation Conference

March 03, 2023 - New Brunswick, NJ
Hyatt Regency New Brunswick

MORE DETAILS