ProMedica Knew Of FTC Merger Probe, Insurer Tells 6th Circ.

Law360, New York (May 15, 2012, 8:39 PM ET) -- A unit of OneBeacon Insurance Group Ltd. told the Sixth Circuit on Monday that it wasn't obligated to cover defense costs in antitrust litigation challenging a merger involving ProMedica Health System Inc. because ProMedica failed to report the potential claim on time.

ProMedica was well aware that the Federal Trade Commission was investigating its planned merger with St. Luke's Hospital in Maumee, Ohio, but waited until after its policy expired to inform the insurer, OneBeacon unit Employers' Fire Insurance Co. argued in an appeals court brief....
To view the full article, register now.