CRM Settles Group Trust Lawsuit

CRM Holdings Ltd., a Bermuda-based manager of workers' compensation self-insurance trusts in New York and California, announced this week that three legal actions brought by a group of members and former members of a CRM trust have been settled for an undisclosed sum. The suits were filed by H.C.F.A. Associates Corp. and 17 other companies served by Healthcare Industry Trust of New York, which is managed by Compensation Risk Managers, LLC, a subsidiary of CRM Holdings. The non-cash settlement, which will be paid in the form of reductions in future commissions from April to November 200...