Superior Court Jury Clears Aon Re in Unicover Collapse

A Superior Court trial jury in Middlesex County, N.J., has cleared Aon Reinsurance and one of its brokers, Roger Smith, in a six-year-old lawsuit stemming from the 1999 collapse of workers' compensation reinsurance pool manager Unicover Managers.The March 26 verdict follows years of lawsuits in state and federal court over reinsurance deals that triggered losses of between $1 billion and $2 billion, according to the Government Accountability Office (GAO).Most of the federal lawsuits among carriers caught up the five years of operation of Illinois-based Unicover have been settled or volunta...