Calif. Court Says Lloyd's Needn't Defend Painting Mishap Suit

Calif. Court Says Lloyd's Needn't Defend Painting Mishap Suit

A California appellate court on Thursday upheld a $1 million judgment favoring Lloyd's of London underwriters against Transguard Insurance Co. of America over coverage for a fine art handling company they both insured, saying that damage an employee did to three valuable paintings is Transguard's responsibility alone.

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