All articles tagged with #insurer
A California jury rejected Media Rights Capital’s $29.5 million insurance claim tied to Kevin Spacey’s ouster from House of Cards, ruling that Spacey’s 2017 diagnosis of sexual compulsive behavior was not the predominant cause of the production losses; the 10-2 verdict favored the insurer, with jurors saying reputational harm and public allegations were other key factors in the decision.
The surety company that posted Donald Trump's $175 million civil fraud bond suggested that insurers "probably didn't charge" the former president enough for the bond, which was later rejected due to missing paperwork. New York Attorney General Letitia James raised questions about the "sufficiency" of the bond, and a court hearing is scheduled for April 22 to discuss details of the bond.
Insurer Travelers Companies Inc reported a 98% decline in quarterly profit due to severe wind and hail storms in the United States, which increased its catastrophe losses. The company's core income fell to $15 million, or $0.06 per share, compared to $625 million, or $2.57 per share, in the same period last year. The storms caused Travelers' catastrophe losses to rise to $1.48 billion from $746 million a year earlier. The U.S. Midwest and South were particularly affected by the storms, contributing to a series of weather-related events that have impacted insurers' profitability.