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Priest abuse case costs insurers $227m

Twelve insurers are contributing more than $200m towards a multi-million dollar class action law suit in California compensating alleged victims of abuse at the hands of priests.

The $660m settlement, believed to be the biggest clergy-abuse settlement in history, was agreed in a Los Angeles courthouse on 16 July and will cover claims stretching across decades.

The archdiocese

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Fair value rules still fail brokers and consumers alike

Four-and-a-half years after the Financial Conduct Authority’s fair value rules arrived, Branko Bjelobaba, principal of compliance consultancy Branko Ltd, argues inconsistent data and vague metrics still make it difficult for brokers and consumers to compare insurance products properly.

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