INSURANCE
From Times Staff and Wire Reports
Lloyd’s to Appeal Judgment: Attorneys for Lloyd’s of London and other insurers said they were “astonished” by a jury’s award of $386 million in punitive damages. After a two-month trial in Los Angeles County Superior Court, the jury found the carriers guilty of bad faith for refusing to pay $39 million in settlements and legal fees that arose in the 1980s from product liability lawsuits against an Amoco Corp. subsidiary. The jury added the punitive damages to the original $39 million--a move that Lloyd’s attorney David W. Parsons called outrageous.
