PXRE Says Court Affirms $9.8 Million Judgment Against Terra Nova
The Bermuda-based PXRE Group Ltd. announced that the United States Court of Appeals for the Third Circuit has affirmed a $9.8 million judgment awarded in June 2002 after a jury trial of its dispute against Terra Nova Insurance Company Limited.
“The dispute concerned PXRE’s claims under two insurance policies that had been issued by an agent of Terra Nova,” said the bulletin.
It added that “PXRE had previously recorded this amount as a receivable and as a result, the decision will not have an earnings impact.”
Popular Today
- Florida Governor Signs Bill Dropping Building Permits for Work Valued at $7,500 or Less
- Ex-Ohio State Players to Join a Sexual Abuse Lawsuit Against the School
- Maryland Announces $2.5 Billion Settlement Over Baltimore Bridge Collapse
- Ex-NFL Player Sentenced to 16 Years in Prison for $200M Medicare Fraud Scheme