STORY FROM: Reinsurance & Arbitration
Applied Underwriters Ordered to Post $14 Million in Security in N.Y. Workers’ Comp Lawsuit
September 5, 2017
NEW YORK — A New York judge has ordered Applied Underwriters Inc. and certain of its co-defendants to post two bonds totaling nearly $14 million in a lawsuit involving an alleged workers’ compensation scheme and reinsurance participation agreement.
On Aug. 24, Judge Marcy Friedman of the New York County Supreme Court explained that the amount reflects the sums plaintiffs have paid to defendants under the alleged workers’ compensation and reinsurance participation program.
Current Lighting & Electric Inc., MAS Electrical Maintenance LLC, and First Quality Maintenance II LLC (Current Lighting, collectively) filed a lawsuit against Berkshire Hathaway Inc. and its affiliated ...