Lloyd’s May Have to Pay $17M Award Against Provider

Washington’s Providence Health and Services is one step closer to forcing Certain Underwriters at Lloyd’s, London, to pay a $17 million arbitration award against it.

Providence’s failure to notify Lloyd’s within 60 days of receiving physician David Newell’s wrongful termination claim didn’t absolve the insurer of its coverage obligation unless it was prejudiced by the delay, the U.S. District Court for the Western District of Washington said Jan. 16.

The policy, known as the Beazley policy, took effect Nov. 1, 2015, and expires July 1, 2022. It requires Providence to report claims to Lloyd’s “as soon as practicable,” but within ...