7th Circuit Dismisses Appeal of $450 Million Workers’ Comp Reinsurance Settlement

CHICAGO – The 7th Circuit U.S. Court of Appeals has dismissed Liberty Mutual Insurance Co.’s appeal of a lower court’s approval of a $450 million settlement of a class action brought against American International Group by members of the National Workers Compensation Reinsurance Association.

On March 25, the majority noted that Liberty Mutual settled with AIG after filing this appeal and that its dismissal will not harm the other class members. The majority was comprised of Chief Judge Frank H. Easterbrook and Judge Daniel A. Manion.

Companies underwriting workers' compensation insurance participate in a reinsurance pool administered by the National …