General Motors Co. will spend whatever it takes to compensate victims of accidents in Cobalts, Ions and other cars with faulty ignition switches, said Ken Feinberg, the lawyer hired to make the payments.
The U.S. Court of Appeals for the 6th Circuit affirmed dismissal of a RICO lawsuit against insurers, claims administrators and an employer in which an employee alleged they had introduced false medical testimony to deny or diminish his workers comp benefits.
A federal district court in Michigan has ruled that a homeowners insurance policy was void where the insured sought coverage for property allegedly stolen from him that he had not said he owned several years earlier when he had entered bankruptcy.
Meadowbrook Insurance Group Inc. reports a second-quarter net loss of more than $11 millionan increase in net loss of 49 percent over the same period last year.
Meadowbrook Insurance Group, currently under review by rating agency A.M. Best Co., says it has reached a quota-share agreement with Swiss Re to address capital concerns.