LAW & REGULATION

$62-Million Jury Award: An Orange County jury awarded $62 million to a Cypress engineering firm whose insurance company failed to honor a liability claim. The jury found Truck Insurance Exchange and its parent, Farmers Insurance Co., guilty of “malice, fraud and oppression,” toward Marmac, its founder and four stockholders. The award consisted of about $1 million in compensatory damages and more than $60 million in punitive damages. The huge award, which observers said will undoubtably be challenged, is one of the largest judgments in Orange County.