Plaintiff bar victorious in California dispute

In the perennial battle between the plaintiff bar and the (re)insurance industry the attornies won a decisive victory in California this month.

Zurich - the owner of Farmers Group - agreed to pay $445mn to settle a Californian class action (Fogel v Farmers) dating back to 1999, saying it would be too costly to mount a defence against allegations of overcharging management fees.

Farmers' 13mn policyholders will receive a mere $35 or so each. Plaintiff lawyers, however, will receive up...

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This article was published as part of issue October 2010/2