Tower talks down impact of Supreme Court valuation ruling

Mon, 15 Dec 2014

By Paul McBeth Dec. 16 (BusinessDesk) - Tower, the insurer which sold its health, life, and investment units to focus on general insurance, has talked down yesterday's Supreme Court ruling on how to value the replacement costs of a house, saying it doesn't expect a material impact on the firm's future settlement payments. Justices John McGrath, William Young, Susan Glazebrook, Terence Arnold and Mark O'Regan yesterday ruled against the insurer's interpretation of its full replacement house policy, saying "if the insured chooses to buy ano...

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