Zurich Sued For Refusing Ponzi Lawsuits Claims

By Ronan Barnard (April 29, 2022, 5:35 PM BST) -- An international corporate services company is suing its insurers after they refused to pay out for lawsuits accusing it of being negligent when auditing a business involved in a $1 billion Ponzi scheme.

Vistra Group Holdings BVI Ltd. has taken Zurich Insurance PLC and 29 other insurers to the High Court. Vistra claims the insurers wrongly refused to pay out for costs it ran up over lawsuits accusing it of wrongdoing while working for DC Solar Solutions Inc., the U.S. solar energy business involved in the Ponzi fraud.

Vistra and other companies in its group had taken out professional liability, management...

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