SJC ruling result in a primary insurer paying 9% and excess insurer paying 91% of every dollar paid over $1 million on large loss.
Class action settlement gets lawyers $9 million plus and average policyholder $22.02.
State insurance regulations are one area that some Insurtech companies ignore at their peril.
Appeals Court decides reservation of rights rules for insureds.
Insureds’ attempt to re-litigate in federal court their $1.2 million loss claim after referees award comes to naught.