LAWSUITS NEWS & LEGAL INFORMATION
Berkley Insurance Company et al.
This is a settlement for the Commercial lawsuit.
La Jolla, CA: A class action lawsuit was filed against the companies alleging certain car dealers and retailers sold Vehicle Service Contracts insured by National Warranty Insurance Risk Retention Group that proved to be worthless as a result of a Ponzi scheme which led to National Warranty Insurance Risk Retention Group's inevitable and foreseeable bankruptcy. The plaintiffs alleged the defendants were accountable for participating in this scheme. The lawsuit was filed in Clark County, Nevada District Court on behalf of all persons who bought or possessed a Vehicle Service Contract prior to June 6, 2003. Berkley Insurance Company, American Safety Insurance Services, Inc., American Safety Resources, Inc., American Safety Reinsurance Ltd., Partner Reinsurance Company Ltd., Milliman, Inc., and KPMG LLP have agreed to a $48.7 million class action settlement. (Jan-17-07)
[BUSINESS WIRE: CLASS ACTION SETTLEMENT]
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