Summary
A federal appeals court said two insurance companies do not have to cover Kansas City-based H&R Block for class action lawsuits filed over the tax preparation company's refund anticipation loan program between 1996 and 1998.
When H&R Block purchased the excess coverage, it was on notice that recipients were likely to sue because 11 class action suits had already been filed in state and federal courts against the tax preparer over its loan program, the 8th U.S. Circuit Court of Appeals said Friday. The insurance companies that sold the coverage in question are American International Specialty Lines Insurance Co. and Lexington Insurance Co.See the full content of this document
Extract
8th Circuit Rules Insurers Should Have Been Informed of Likely Class Action Suits
"To rule the other way on this basic issue would mean the company could be sued in 20 states in five years and know that the same program was be...
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