financetom
Business
financetom
/
Business
/
Chubb Sues California Catholic Diocese to Avoid Paying Legal Costs in Sex-Abuse Claims
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Chubb Sues California Catholic Diocese to Avoid Paying Legal Costs in Sex-Abuse Claims
Jul 12, 2024 1:53 PM

04:15 PM EDT, 07/12/2024 (MT Newswires) -- A Chubb ( CB ) subsidiary wants a federal court in California to decide if it is obligated to pay legal costs of sex-abuse claims against a Roman Catholic diocese after the church's original insurer went out of business.

The Chubb ( CB ) subsidiary, Westchester Fire Insurance, issued a series of excess coverage policies to the Diocese of Orange in suburban Los Angeles to supplement professional liability insurance taken out by the diocese between 1981 to 1984. After Centennial Insurance was liquidated, the diocese now wants Westchester to cover its costs because Centennial no longer can.

In its lawsuit filed Thursday in the US District Court for the Central District of California, Westchester argued it has no "drop down" obligation to cover any of those costs until all of Centennial's and the diocese's resources are exhausted.

Chubb ( CB ) has reportedly been fighting to avoid legal costs in sex-abuse claims in several other jurisdictions, including the archdioceses of San Francisco and New York, while has reportedly been trying to block efforts by a diocese in New Jersey to secure bankruptcy protection against victim claims.

The diocese did not immediately respond to request for comment by MT Newswires.

Price: 258.34, Change: +0.05, Percent Change: +0.02

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
--GrafTech Exploring Money-Raising Options as Losses Mount, Bloomberg Reports
--GrafTech Exploring Money-Raising Options as Losses Mount, Bloomberg Reports
Jul 5, 2024
11:42 AM EDT, 07/05/2024 (MT Newswires) -- Price: 1.04, Change: +0.01, Percent Change: +1.47 ...
LGI Homes' Quarterly Closings Miss Likely Shows Affordability Concerns, Wedbush Says
LGI Homes' Quarterly Closings Miss Likely Shows Affordability Concerns, Wedbush Says
Jul 5, 2024
11:38 AM EDT, 07/05/2024 (MT Newswires) -- LGI Homes' ( LGIH ) second-quarter home closing miss likely indicates affordability concerns and could weigh on the homebuilder's financial results for the three-month period, Wedbush Securities said Friday. On Wednesday, the company reported home closings of 1,655 during the June quarter, down from 1,854 a year earlier and below Wedbush's views for...
Novo Nordisk Reprimanded in UK Over Undisclosed Payments; Novartis, Pfizer Found in Breach of Industry Code
Novo Nordisk Reprimanded in UK Over Undisclosed Payments; Novartis, Pfizer Found in Breach of Industry Code
Jul 5, 2024
11:43 AM EDT, 07/05/2024 (MT Newswires) -- Novo Nordisk ( NVO ) was publicly reprimanded Friday by industry regulators in the UK for not disclosing payments amounting to roughly 7.8 million pounds ($10 million) within a three-year period. The Prescription Medicines Code of Practice Authority, or PMCPA, also said Novo Nordisk ( NVO ), Novartis ( NVS ) and Pfizer...
Update: Rua Gold Secures a Permit Extension to Continue Drilling at the Reefton Project in New Zealand
Update: Rua Gold Secures a Permit Extension to Continue Drilling at the Reefton Project in New Zealand
Jul 5, 2024
11:41 AM EDT, 07/05/2024 (MT Newswires) -- Rua Gold ( NZAUF ) on Friday reported the five-year extension of its permit and land access for drilling at the Reefton project in New Zealand. The company said the extension provides full access to carry out an extensive drill campaign on 37 drill sites and includes the building of necessary infrastructure, including...
Copyright 2023-2026 - www.financetom.com All Rights Reserved