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November 18, 1987 | JILL STEWART, Times Staff Writer
A Los Angeles Superior Court jury Tuesday ordered Harbor Insurance to pay $23 million in damages to a client hotel firm that the insurance company had pressured into sharing the burden of a multimillion-dollar personal injury settlement. The case involved a 1977 diving accident in a swimming pool at a hotel owned by a subsidiary of American Motor Inns in the U.S. Virgin Islands that left a Navy man a paraplegic.
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BUSINESS
November 18, 1987 | JILL STEWART, Times Staff Writer
A Los Angeles Superior Court jury Tuesday ordered Harbor Insurance to pay $23 million in damages to a client hotel firm that the insurance company had pressured into sharing the burden of a multimillion-dollar personal injury settlement. The case involved a 1977 diving accident in a swimming pool at a hotel owned by a subsidiary of American Motor Inns in the U.S. Virgin Islands that left a Navy man a paraplegic.
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CALIFORNIA | LOCAL
March 31, 1986 | Roxana Kopetman
Placentia recently joined the ranks of a growing number of Orange County cities without insurance. The city's insurer, Harbor Insurance Co., got out of the business of providing coverage for municipalities and dropped Placentia effective March 16. Fullerton, which had the same insurer, has been without insurance since Tuesday. Both cities plan to rely on their own resources to cover any claims.
CALIFORNIA | LOCAL
March 17, 1986 | Roxana Kopetman \f7
Fullerton appears to be the next Orange County city forced to become self-insured. The city's insurance company plans to drop its coverage when the policy expires March 25, City Manager Bill Winter said. Like other companies, Harbor Insurance Co. is going out of the municipality-coverage business. On Tuesday, City Council members will discuss Winter's recommendation to "go bare" and cover city claims itself.
BUSINESS
June 5, 1985 | DEBRA WHITEFIELD, Times Staff Writer
Unocal, fresh from its battle with Texas oilman T. Boone Pickens Jr., on Tuesday sued four insurance companies for allegedly canceling liability insurance policies on Unocal's directors the day after Pickens disclosed his 7.9% interest in the Los Angeles-based oil company. In a lawsuit filed in Los Angeles Superior Court, Unocal claims that the insurance companies' actions were illegal and fraudulent.
CALIFORNIA | LOCAL
April 25, 1988
Harvey Lerer's letter (April 13) claims that the no-fault auto insurance initiative would limit the injured victims' rights to fair compensation and access to the courts. These accident victims have no inherent right to receive any particular benefits. They have only the rights society wants to give them. The members of society who pay for insurance either by direct purchase or through buying goods or service where the cost is passed on seem to have decided that they don't want to fund the present tort system in its entirety.
BUSINESS
April 14, 1989 | JOHN O'DELL, Times Staff Writer
The liability insurer for two top former Butterfield Savings & Loan executives has agreed to pay $5 million to the Federal Savings and Loan Insurance Corp. to settle the agency's $40-million damage suit against the pair, Donald and David Endresen. The FSLIC spent more than $281 million trying to unravel Santa Ana-based Butterfield's problems after the S&L was declared insolvent and seized by government regulators in 1985. The agency originally filed the damage suit against former Butterfield president Donald Endresen; his father, David, who was chairman of the company; his brother, William, a vice president; four other individuals, and Butterfield Equities Corp.
BUSINESS
October 4, 1987
The Times had an interesting article on Sept. 20 titled "Insurance Insolvencies Soaring; Early '80s Price-Slashing Spree Blamed." From 1979 to 1983, when interests rates were high, many companies cut their rates to the bone to get money in the door to invest. They knew that the premium they were charging would not cover losses and expenses to be paid under those policies. By cutting prices they hoped to increase their market share. They also hoped that the investment income would offset the losses.
CALIFORNIA | LOCAL
February 11, 1986 | Kristina Lindgren
Harbor Insurance Co. has asked the Los Angeles Superior Court to rule that its policy with the city does not cover legal fees or claims in 19 pending lawsuits brought by neighbors of the McColl hazardous waste dump. An attorney for the Los Angeles-based company said Monday that he also has asked the court to void the policy entirely because city officials failed to disclose information about the pending lawsuits when the policy was issued last April.
BUSINESS
September 12, 1990 | ALAN CITRON, TIMES STAFF WRITER
Four MGM/UA Communications Co. insurance carriers have agreed to pay up to $20 million to settle a class-action suit against the studio, despite MGM/UA's objections. The agreement, which leaves MGM/UA majority shareholder Kirk Kerkorian and his Tracinda Corp. as the lone defendants in the case, will be presented to a Los Angeles Superior Court judge on Friday. J. Michael Hennigan, one of the attorneys for the plaintiffs, hailed the settlement as a significant victory for shareholders.
CALIFORNIA | LOCAL
April 14, 1986 | ROXANA KOPETMAN, Times Staff Writer
Last week, the City of Placentia received a letter from the Placentia Unified School District. The message: Stay off our property. It's not that the two public entities bearing the same name don't get along. The school district just isn't willing to take any chances by letting Placentia--which no longer has liability insurance--hold city-sponsored activities at local schools. Placentia, which was dropped by its liability carrier, Harbor Insurance Co.
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