Consumers aren’t likely to see their insurance rates go down this year, according to a Morgan Stanley report. The last few years have been rocky ones for the insurance industry. Social inflation rose higher than traditional economic inflation.
Tag: massive verdicts
Los Angeles Jury Awards Fired Insurance Executive $155 Million
A Los Angeles Superior Court jury handed a fired insurance company executive a verdict totaling $155.4 million – including $150 million in punitive damages. Plaintiff Andrew Rudnicki worked for Farmers Insurance Exchange as a senior executive and lawyer in its Claims Litigation division. Farmers claimed it terminated Rudnicki’s employment after he made sexist and inappropriate… Continue reading Los Angeles Jury Awards Fired Insurance Executive $155 Million