Lloyd's wins dollars 180m case in US courts
Friday 17 June 1994
The decision is the fifth to go in favour of Lloyd's in the past 18 months. Lloyd's says it will leave the provisions it has made for the claims in place until the appeals process has been exhausted, but the total saving could be several hundred million dollars.
The claim, by the aerospace contractor Martin Marietta, had been spread right across the Lloyd's market. In 1986 it began litigation to claim the dollars 180m from insurers who up to 1972 had written policies covering it.
A Los Angeles jury in California's Superior Court found that the firm had concealed material information about pollution it had caused - particularly a toxic chemicals spill near Denver in 1957 and test missile firing in Colorado - so the policies were void.
Other insurers had settled out of court with Martin Marietta before the trial. Lloyd's has more than 150 similar US pollution cases in the pipeline.
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Shock poll shows voters believe Ukip is to the left of the Tories
New era of cheap oil 'will destroy green revolution'
Ukip founder Alan Sked and Nigel Farage 'begged Enoch Powell to stand as a candidate'
Nigel Farage's approval rating hits record low as popularity suffers in wake of Ukip sex scandal
iJobs Money & Business
£32000 - £35000 per annum + benefits: Ashdown Group: Marketing Services Manage...
£Neg. (DOE) + Excellent Benefits: Guru Careers: A Finance Account Manager with...
£40000 - £470000 per annum + bonus: Ashdown Group: Java Developer / J2EE Devel...
£45000 - £55000 per annum + Benefits: Ashdown Group: An exciting opportunity h...