Originally Posted by newbmwuser
What I don't understand is why neither party has insurance, and why the journalist as an individual is responsible (and not the magazine company he works at)
From what I read, there was insurance, but they denied coverage. There are also some really interesting facts, including some statements Hales made to the insurance company, that may have played a role in the court's decision.
I don't really know all the facts, so it's hard to say what really happened, but these documents give a small view into the record:
Statement from Piper's legal counsel:
Statement from Hales' legal team in response to judgement: