Zurich Loses Bid to Collect $14.5M for Deductibles in Excess Policy

Zurich North America lost its bid to collect $14.5 million from the estate of a bankrupt coal company by charging an administrative claim fee based on ultimate projected losses for an excess workers' compensation policy.The U.S. Supreme Court on Thursday declined to review Zurich's appeal of a 6th U.S. Circuit Court of Appeals decision that found the ultimate projected losses to be “speculative,” not “actual expenses” as required for administrative fee claims. The Circuit Court also ruled that Zurich had prejudiced creditors to the Lexington Coal Co. by failing ...