California’s AB 218 works similarly, and it’s already created a real-world test case. Los Angeles County faced thousands of claims involving foster care, juvenile custody and education, a wave that pushed the county toward a billion-dollar settlement. The county funded that settlement through the issuance of bonds rather than insurance payments – a structure typically used when a public entity’s liabilities exceed its insurance or self-insured retentions, or where the relevant policy years of coverage have lapsed, expired, or been separately disputed. That financing option itself is an indication of how large a revivor-law exposure could run relative to the insurance protection public entities actually held at the time of the underlying conduct.
Tokio Marine HCC names Megan Pfeffer to lead public risk group & more related News Here
