Three months ago, Milwaukee County agreed to a settlement with Mercer regarding the first pension scandal.
But just when you thought that puppy could be put to rest, here comes other people who want a piece of the settlement pie.
Travelers Casualty and Surety Group has filed a claim for $1.3 million regarding the settlement.
It appears that they're biggest complaint is that they had to dish out money to defend the county's pension system from retired members who thought that they should be automatically given benefits that weren't in place before they retired. (To me, that would be like trying to sue a car maker because they came out with a new and improved version of your car five years later, saying they ripped you off. )
Now, I am not a lawyer, nor do I play one on the Intertubes, but it seems to me that the insurer's claim is a little lame as well. They were getting paid to do their jobs, which they did admirably well, and I am sure that they were also compensated fairly well.
But if they were to make a claim against anyone, they should have either filed their own lawsuit against Mercer, or joined with Milwaukee County in its lawsuit. Its kind of funny how people (or in this case, businesses) can be against socialism until they find out they could possibly get something for nothing.
But this also reminds me of another question. Is Walker ever going to finish the job regarding the pension scandals and sue Reinhart?
Friday, August 21, 2009
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"but it seems to me that the insurer's claim is a little lame as well. They were getting paid to do their jobs, which they did admirably well"
ReplyDeleteThere's generally a requirement in all insurance policies, which provides that the Ins. co has the right to approve any settlement agreement.
I don't know for certain but its a reasonable guess that the Ins. Co is alleging that that its subrogation rights were cut off by the settlement. If an Ins. company incurrs fees on your behalf because of the wrong doing of another it may seek recovery of those fees from the wrong doer.
I'm guessing from the dates of the pension plans, that the claims against Reinhart would be barred by a statute of limitations.
Thank you, Counselor, for the clarification on the insurance company's lawsuit.
ReplyDeleteThe Reinhart referral has much deeper, political implications.