LGC say $1.9 Million in Defense Costs is States Fault
The Local Government Center is blaming the state of New Hampshire for accruing more than 1.9 million dollars in legal costs stemming from the defense of claims made by the state. David Frydman, the LGC's legal counsel, placed blame on the state Bureau of Securities Regulation for naming 21 different parties in their original complaint. Meanwhile, the BSR reported it spent $571,000 for prosecuting the case against the LGC and they are seeking to have the LGC pay for those costs. The LGC recently announced its intention to appeal to the state Supreme Court, that it rebate $52 million for money its members paid in excess of the actual cost for insurance coverage and was banked by the LGC as surplus. The LGC was formed as a pool to provide health and liability insurance for public employees and municipalities and is funded by public members and taxpayers.