Silverman v. Liberty Mutual Insurance

Background

Founded in 1912, the defendant, Liberty Mutual Insurance Company (“Liberty”), is a mutual insurance company whose core business is property and casualty insurance. With roughly 750,000 policyholders, Liberty is the seventh largest property and casualty insurance company in the United States, with $4.6 billion of net written premiums in 2000. As a mutual insurance company, as opposed to a stock insurance company, Liberty presently issues no stock and has no shareholders. For all practical purposes, its policyholders have the equity rights that shareholders have in a stock corporation…