However, reports say, Safeco Insurance Company of America and Ohio Casualty Insurance Co., whose ultimate parent is
Bloomberg reports that Gary Elden, an attorney for Liberty Mutual, said in a statement that “the settlement is ‘an act of self-interest and is detrimental to the 600-member class’ because it ignores evidence of underreporting that occurred during the lawsuit. ‘The current discovery process, which will be substantially complete within the next 60 to 90 days, should be allowed to proceed uninterrupted so AIG is held to account for the true extent of its underreporting.’”
Reuters received an e-mail response from AIG spokesperson, Mark Herr, in which he said, “It is unfortunate that Liberty is refusing to participate in this fair and reasonable settlement. As the seven other settling insurers have recognized in seeking to intervene in the action, Liberty's preference to continue litigating is not in the best interests of the class members."
