INSURANCE
From Times Staff and Wire Reports
Lloyd’s Sued, Accused of Fraud: A Newport Beach man and his two daughters filed suit this week in Los Angeles County Superior Court, accusing Lloyd’s of London of gulling them into investing in the world’s oldest insurance market. The lawsuit claims Lloyd’s concealed the risks involved, particularly the danger of large losses from asbestos and pollution liability cases. David F. West and his daughters, Deborah and Susan, also charge that Lloyd’s violated California securities laws by failing to register with the state before it solicited their investments.
