Tag: Safeco

Safeco, Liberty Mutual, and the Lawsuit Challenging Insurer Accountability

Angela Linders
Safeco and Liberty Mutual Hail Damage Lawsuit

Safeco and Liberty Mutual Hail Damage Lawsuit Highlights Industry Challenges Hailstorms might last minutes, but their implications can drag on for years, especially when insurance claims come under scrutiny. A high-profile lawsuit in Oklahoma has brought Safeco and Liberty Mutual into the spotlight, raising questions about both policyholders’ rights and insurers’ responsibilities. While allegations of bad faith claims and branding confusion have fueled the debate, it’s worth examining the perspectives of all parties involved to uncover the complexities of this case. The Lawsuit Breakdown Ralph and Myrna Lightfoot of Oklahoma…

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Seventeen Connecticut homeowners insurers waive Irene damage hurricane deductibles

H. Cutner

According to the Malloy administration, almost 70 percent of the homeowners insurance companies in Connecticut have announced that they will be forgiving the more expensive deductibles for damage claims relating to Tropical Storm Irene. According to a statement made by Governor Dannel P. Malloy and Insurance Commissioner Thomas Leonardi, “Failure to do this would result in many homeowners paying tens of thousands of dollars out-of-pocket.” Even though Irene had been downgraded to a tropical storm by the time it reached the state, the clause for hurricane deductibles became effective for…

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Goldman Sachs sued by Liberty Mutual regarding losses from Freddie Mac investments

Investment banker Goldman Sachs & Co. was the target of a lawsuit by Liberty Mutual Insurance Co. and a number of its subsidiaries, for “making materially misleading statements and omissions” in November 2007, for Freddie Mac preferred stock offerings.  According to the lawsuit which was filed at a Massachusetts U. S. District Court, Liberty Mutual and its subsidiaries – Employers of Wausau, Safeco, Liberty Life, and Peerless – had made investments of $37.5 million within the Freddie Mac (Federal Home Loan Mortgage Corp) Series Z offering, which was made up…

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