CRM Draws Second Suit in Group Trust Default

Ten former members of the Wholesale and Retail Workers' Compensation Trust of New York filed suit against Compensation Risk Managers (CRM) late last month, alleging the company mishandled the trust before it defaulted and left deficits totaling $19 million.CRM's Bermuda-based parent, CRM Holdings, reported in an 8K filing with the U.S. Securities and Exchange Commission (SEC) Tuesday that the lawsuit was filed by New York supermarket chains and other retailers on Nov. 24.CRM Holdings vowed to "vigorously defend" against the lawsuit, which was filed in the New York Supreme Court in Erie...