AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
US Legal - California dreaming.
(From Reinsurance)
Byline: Peter Chaffetz and Steven Schwartz.
For years, reinsurers on both sides of the Atlantic have been grappling with issues arising out of workers' compensation and similar business.
In the US, for example, losses originating in the Unicover pool have attracted attention. In London, spirals in the personal accident market have provoked numerous disputes, one of which led to the recent decision by the Commercial Court in Sphere Drake Ins. Ltd v Euro Int'l Underwriting Ltd.
In California, the workers' compensation market has spawned a variety of disputes. More than one of these cases began with the acquisition by Superior National Insurance Group, a major workers' compensation carrier in California, of Business Insurance Group (BIG), one of its competitors.
The acquisition proved disastrous. BIG's results deteriorated quickly after the acquisition, and ultimately caused the demise of Superior National.
In litigation in the federal court in Los Angeles between Superior National and BIG's seller, Foundation Health Corp. (FHC), a pair of recent decisions effectively dismissed some of Superior National's fraud claims - Superior National Ins. Group Inc v Foundation Health Care, et al, SACV-00-658-GLT (MLGx) (C.D. Ca.).
- Superior National Insurance Group, Inc. Announces Engagement of Wasserstein...
- Press release article from: Business Wire November 25, 1999 700+ words
...BUSINESS WIRE)--Nov. 24, 1999-- Superior National Insurance Group, Inc. (Nasdaq...amp; Co. to provide advice to Superior National's Board of Directors with respect...options in light of the effects on Superior National of the purported rescission of a...
- Superior National Commences Litigation Against Foundation Health Corporation,...
- Press release article from: Business Wire May 1, 2000 700+ words
...Insurance Group, Inc. ("BIG") to Superior National knowing at the time of the sale that BIG was insolvent. Superior National alleges that Milliman...National to purchase BIG. 3. Superior National is entitled to rescission...
- Superior National Signs Letter of Intent to Sell Business Insurance Co. to...
- Press release article from: Business Wire June 9, 1998 700+ words
...1998,completion of Superior National's acquisition of BIG, approval of the BICO...want to emphasize that Superior National remains committed to expanding BIG's national operations under Superior National ownership, and that BICO...
- Superior National Insurance Group Inc. Signs Definitive Agreement to Acquire...
- Press release article from: Business Wire September 17, 1996 700+ words
...WIRE)--Sept. 17, 1996--Superior National Insurance Group Inc. (NASDAQ: SNTL) ("Superior National"), a California and Arizona...the transaction is subject to Superior National and Pacific Rim shareholder and...
- Superior National Insurance Group Inc. Announces Election of William L. Gentz...
- Press release article from: Business Wire July 15, 1999 700+ words
...BUSINESS WIRE)--July 14, 1999-- Superior National Insurance Group Inc. Announces Election...Senter to the Board of Directors Superior National Insurance Group, Inc. (Nasdaq...Officer, having previously served as Superior National's Chief Financial Officer since...
- Superior National Insurance Group, Inc. to Seek Approval of Employee Retention...
- Press release article from: Business Wire May 19, 2000 700+ words
...United States Bankruptcy Court to Rule Superior National Insurance Group, Inc. (SNTL or Superior National) announced today that Los Angeles...approval of a retention bonus plan for Superior National's employees. Superior National...
- Superior National Announces Agreement With California Department of Insurance.
- Press release article from: Business Wire September 11, 2000 700+ words
...BUSINESS WIRE)--Sept. 11, 2000 Superior National Insurance Group, Inc. (SNTL or Superior National) announced that on Friday, September...was accomplished. In addition, Superior National's insurance servicing operations...
- Superior National Sues Am Re Over Contract Rescission.
- Magazine article from: National Underwriter Property & Casualty-Risk & Benefits Management LONKEVICH, DAN September 20, 1999 700+ words
Superior National Insurance Group said it has filed...contract written as a condition for Superior National to make its 1998 acquisition of...legally. According to the suit, Superior National alleges that Inter-Ocean and...
