A Chubb Corp. insurer on Tuesday dropped its Second Circuit appeal tied to a federal judge's order that it must pay for litigation against four former Health Care Providers Self Insurance Trust executives stemming from a state investigation that uncovered a $188 million shortfall and which led to suits charging mismanagement and negligence.
The New York high court's Tuesday ruling that each excess insurance policy covering Viking Pump Inc. and Warren Pumps LLC can be held liable for an entire loss resulting from asbestos claims gives policyholders a faster, cost-efficient path to coverage for multiyear claims by allowing them to target carriers in a single year, experts say.
Former New York State Senate Majority Leader Dean Skelos and his son told a New York federal judge on Monday that half a million dollars in onetime potential commissions should be ignored in the calculation of their sentences, claiming it was an obliquely discussed payment that never approached fruition.
The Third Circuit on Tuesday tossed a suit brought by a doctor claiming he was unlawfully targeted by criminal investigations conducted by Allstate and other insurance companies that were outsourced by the New Jersey Attorney General, saying the doctor lacked standing.
The deadline for Mississippi to appeal a federal court decision allowing adoption by same-sex couples lapsed Tuesday without the state taking action, ending the fight over the last ban of its kind in the country.
An Illinois state appeals court on Monday affirmed that a trio of insurers owed no payment toward a $20 million settlement their policyholder reached with a pair of businesses in an underlying Telephone Consumer Protection Act lawsuit, finding that a “violation of statutes” exclusion denied coverage.
The demand for cyber liability insurance is expected to explode in the coming years, and insurers need to embrace new ways of analyzing potential risks in order to avoid being pushed out of the increasingly competitive marketplace, according to a report released Monday.
Fineburg Law Associates PC has sued in Philadelphia County to hold an insurer accountable for nearly $3 million the firm spent defending a former partner against federal charges that he helped plunder an ailing mortgage lender after its extortionate, mafia takeover.
A subsidiary of Paramount Group Inc. has scored a $500 million loan for a Manhattan office tower from co-lenders AXA and MetLife Inc., a source with knowledge of the transaction told Law360 on Tuesday.
Dutch insurer and asset manager Aegon NV will buy BlackRock UK’s £12 billion ($17.46 billion) defined contribution platform and associated administrative business in a deal that will dramatically increase the volume of such investments Aegon manages, the companies said Tuesday.
New York's highest court ruled Tuesday that each excess insurance policy covering Viking Pump and Warren Pumps can be held liable for the entire loss resulting from asbestos claims against the manufacturers, while also rejecting the insurers' argument that all of the available primary policies must be exhausted before excess coverage kicks in.
The former chief financial officer and general counsel of bankrupt identification verification company Jumio asked a Delaware bankruptcy judge Monday to rule he is covered by the company's directors and officers insurance policy against possible defense costs related to Jumio’s Chapter 11 case and a government investigation into the sale of company stock.
State Farm Florida Insurance Co. picked up a victory Friday when the Florida Supreme Court found it lacked jurisdiction to review an appeals court's decision that rejected condominium owners' claims the insurer improperly applied a hurricane damage coverage limit under their homeowners' policies.
RLI Insurance Co. urged the Ninth Circuit on Monday to reverse a lower court's decision that it has to defend Northwest Pipe Co. in litigation over a Superfund site in Oregon, arguing that its umbrella insurance policy should never have kicked in because NPC hadn't exhausted all of its primary coverage.
Horizon Healthcare Services Inc. can’t keep evidence involving financial analysis out of a lawsuit brought by a number of New Jersey hospitals over Horizon’s controversial Omnia Network, a New Jersey state court has ruled, finding that the documents aren’t shielded by any sort of privilege.
The entire $102 million paid by PNC Financial Services Group Inc. to settle two overdraft fee class actions, including $30 million in attorneys’ fees, constitutes a professional service fee reimbursement that’s excluded under its excess insurer’s policy, the Third Circuit ruled on Monday, partially affirming a lower court’s decision.
The Third Circuit ruled Monday that a group of out-of-network doctors has standing to pursue class claims against Cigna over allegations that the insurer schemed with database runner Ingenix Inc. to reduce the compensation owed for their work.
The Ninth Circuit on Monday appeared unlikely to seek the Oregon Supreme Court's help to decide whether an information request issued by the U.S. Environmental Protection Agency constitutes a "suit" triggering an insurer's duty to defend, noting that a previous decision by the federal appeals court already resolved the issue.
The Supreme Court of Virginia has ruled that cohabitation between members of the same sex can be considered “analogous to marriage” under state law, reversing an appeals court decision that a man must provide support to his ex-wife even though she is engaged to and living with another woman.
A Pennsylvania judge was urged during oral arguments on Monday to strike the core contention from a pair of class actions against a Farmers Insurance unit by finding that state law did not explicitly require insurers to include fees paid to general contractors when settling claims from homeowners.
New proposed U.S. Department of Treasury regulations on whether a domestic life insurance company may join in filing a consolidated U.S. federal income tax return with one or more domestic nonlife insurance company could create new problems with respect to recently acquired domestic life insurance companies that are not allowed to join in the consolidated return, say attorneys at Sutherland Asbill & Brennan LLP.
In Travelers Property Casualty Co. v. Stresscon, the Colorado Supreme Court recently backed away from its decision in Friedland v. Travelers Indemnity Co. that applied the notice-prejudice rule in insurance cases. Douglas Rawles and Benjamin Fliegel at Reed Smith LLP examine various ways to interpret the change in the court's treatment of post-settlement tender between the Friedland decision and Stresscon.
For tribes with gaming or other vibrant business operations, lawsuits happen all too often, and although many tribes and their commercial operations enjoy sovereign immunity, they should take full advantage of the benefits of liability insurance to cover both defense costs and any resulting settlement, say Erica Dominitz and Venus Prince at Kilpatrick Townsend & Stockton LLP.
Victor Schwartz and Christopher Appel at Shook Hardy & Bacon LLP examine Yale Law School professor George Priest's criticisms of the American Law Institute's "Restatement of the Law of Liability Insurance" project, which the professor says would adversely impact insurance operations, causing harm to insurers, policyholders and society as a whole.
When counsel agree to a settlement figure in a product liability matter, a confirming letter or email is typically sent by one of the parties, though a formal settlement agreement may be drafted later. But is that initial email enough to enforce a settlement in New York? ask Theodore Ucinski and Matthew Libroia at Goldberg Segalla LLP.
When a company is planning an initial public offering, there is a natural tendency to focus on the public company liability exposures it will face after its offering is completed. While this effort is appropriate, the company may overlook the liability exposures it may face if it fails to complete its offering, says Kevin LaCroix of RT ProExec.
If the plaintiffs bar is successful in tying cosmetic talc to ovarian cancer, as they were in the Johnson & Johnson case on Monday and in a similar J&J case in February, they have increased their potential plaintiff pool by over 700 percent — which suggests there will be more cosmetic talc lawsuits and they will cost more to resolve, raising the issue of how insurers will respond, says Stephen Hoke at Hoke LLC.
In the last part of a three-part series highlighting some of the developments from the National Association of Insurance Commissioners' spring meeting, attorneys at Debevoise and Plimpton LLP discuss long-term care and health insurers, receivership and insolvency, the financial stability task force and valuations of the securities task force.
While I am confident that the decisions in Windsor and Obergefell were made on the basis of the dictates of the Constitution, I am also confident that the communications efforts undertaken gave the justices additional comfort to make the right call, and ensured that these decisions were not treated as a Roe v. Wade redux, says Liz Mair, former online communications director for the Republican National Committee and president of Mair Strategies.
In the second part of a three-part series highlighting some of the developments from the National Association of Insurance Commissioners' spring meeting, attorneys at Debevoise and Plimpton LLP take a look at international insurance issues, corporate governance, groupwide supervision and risk-based capital developments.