litigation
confidence high
sentiment negative
materiality 0.55
Kinsale Capital reports $140M jury verdict against insured; company contests coverage
Kinsale Capital Group, Inc.
- Jury awarded $140M in wrongful death claim against Venetian Hills, a $1M policyholder of Kinsale Insurance.
- Kinsale believes policy exclusions apply and intends to deny coverage; will appeal after post-trial motions.
- Company expects no material adverse effect and says adequate reserves already booked.
- Resolution may take multiple years; verdict announced Dec 20, 2023.