Lloyd’s syndicates ordered settle North Korean claim

"Syndicates at Lloyd’s of London have been defeated in a legal battle with the Korea National Insurance Corporation (KNIC), which is owned by the Government of North Korea.
The case centred on a claim made by KNIC, which reinsurers had resisted settling because they suspected fraud.
The three syndicates have now agreed to pay out their [...]" (2008-12-15)
Read more...