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Foster Farms Asks Insurers to Cover Antitrust Lawsuit Expenses

Foster Farms, LLC and Foster Poultry Farms (Foster) are suing Everest National Insurance Company (Everest) and demanding a trial by jury over allegations ....

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AM Best Affirms Credit Ratings of Everest Re Group, Ltd. and Its Subsidiaries

Press release content from Business Wire. The AP news staff was not involved in its creation.
AM Best Affirms Credit Ratings of Everest Re Group, Ltd. and Its Subsidiaries
May 7, 2021 GMT
OLDWICK, N.J. (BUSINESS WIRE) May 7, 2021
AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” of the operating subsidiaries of Everest Re Group, Ltd. (Bermuda) (collectively referred to as Everest). Concurrently, AM Best has affirmed the Long-Term ICRs of “a-” of Everest Re Group, Ltd. [NYSE: RE] and Everest Reinsurance Holdings, Inc. (Delaware). Additionally, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IR) of Everest Reinsurance Holdings, Inc. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the companies and ratings.) ....

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Everest National Insurance Co. Suit Denying Post-Acquisition Law Suit

Thursday, April 22, 2021
Everest National Insurance Company has filed a lawsuit denying any obligation to cover a post-acquisition lawsuit by a credit union alleging fraud against two banks and their executives. The seller paid additional premium for an extended reporting period to report claims based on pre-acquisition wrongful conduct, but the insurer denied coverage on the ground that any claims asserted by the buyer are excluded under the D&O policy’s “insured vs. insured” exclusion. The decision underscores the importance of not only ensuring continuity of D&O coverage before and after a transaction but also evaluating all possible claim scenarios arising out of a deal to ensure that all stakeholders are adequately protected. ....

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Texas Judge OKs Insurer's Hurricane Harvey Coverage Suit

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Texas Judge OKs Insurer s Hurricane Harvey Coverage Suit
Law360 (February 8, 2021, 8:03 PM EST) A federal judge in Texas has denied Megasand Enterprises Inc. s request to toss a lawsuit brought by an insurer seeking a declaration that it doesn t have to defend the sand and gravel company from claims its discharges into Houston waterways exacerbated Hurricane Harvey-related flooding.
In an order issued Friday, U.S. District Judge Andrew S. Hanen rejected Megasand s argument that because Everest National Insurance Company failed to add all the property owners suing Megasand for damages to this declaratory judgment suit the lawsuit must be dismissed. ....

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