Data breach insurer Beazley issued a report Wednesday projecting a fourfold increase in ransomware attacks among its clients over last year, highlighting the growing threat of cyber extortion and serving as a warning to policyholders to ensure they have sufficiently broad insurance coverage to cover ransom payments and response costs, experts say.
The former chief financial officer of American International Group Inc. on Thursday denied that he ordered executives at an affiliate of the insurance giant to destroy documents in connection with a purported reinsurance deal which New York Attorney General Eric Schneiderman claims was fraudulent.
A Missouri federal judge ruled on Thursday that a pair of insurers don’t have to defend a Chicago-area medical office against proposed class claims that it violated the Telephone Consumer Protection Act by sending unsolicited faxes, finding coverage is barred by TCPA exclusions in the insurers' policies.
Sun Life asked the full Seventh Circuit on Wednesday to rehear a panel ruling that the insurer exhibited bad faith in refusing to pay U.S. Bank after it took over a $6 million life insurance policy taken out on a stranger.
An attorney for Allstate Insurance Co. in a California case fought back Wednesday against sanctions against her and the insurer that partly stem from her late arrival to a settlement conference because she got stuck at a train crossing after dropping her children off at school.
Insurer National Casualty Co. told a Louisiana federal court Thursday that it does not have to defend or indemnify the Arena Football League in a lawsuit by a former player against the league over two concussions he suffered while playing, arguing such injuries were excluded from the relevant commercial liability policy.
Surviving businesses of bankrupt rare earth mineral producer Molycorp Inc. lost a bid to cancel insurance on a left-behind, 2,200-acre California surface mine Thursday, and got a chiding in the bargain from a Delaware federal judge over the “chutzpah” behind the motion.
A California federal judge on Wednesday denied certification of a proposed class of patients who were denied UnitedHealth insurance coverage for a certain type of “unproven” back surgery, saying the named plaintiff’s claims were not typical of the proposed class.
Horizon Healthcare Services Inc. told the Third Circuit on Wednesday that a group of policyholders’ putative class action over a data breach must be tossed since a New Jersey federal judge killed a similar case against J. Crew with a ruling that said a heightened risk of future identity theft was not enough to establish a concrete injury under the U.S. Supreme Court’s Spokeo decision.
U.S. Bank was cut loose from a Racketeer Influenced and Corrupt Organizations Act suit over an alleged insurance payment scam when an Illinois federal judge ruled Wednesday that a group of business owners had failed to properly respond to the bank's and a group of insurers' motions to dismiss.
The former chief financial officer of American International Group Inc. took the witness stand on Wednesday in New York state court in the fraud trial of the executive and former AIG CEO Maurice “Hank” Greenberg, and said he was against one of the reinsurance deals at the heart of the government’s case.
Ransomware attacks have hit the financial services, retail and hospitality industries especially hard this year, according to data breach response insurer Beazley, which said Wednesday that the number of these hacks among its entire client base in 2016 is on pace to be four times higher than last year.
A stockholder petition for appraisal of shares withheld from the $18 billion Towers Watson & Co.-Willis Group merger has taken a sharply adversarial turn, with allegations of document destruction and dueling motions to compel set for a Delaware Chancery Court hearing on Tuesday.
A California state appellate court ruled Wednesday that an employee of an independent contractor on an electrical project at a California university can’t recover damages for work-related injuries from the entity that hired the contractor.
An American International Group Inc. unit was wrongly ordered to cover the 2010 sinking of a yacht, on the grounds that a corrosion exclusion in the owner's marine insurance policy did not apply to the loss, the insurer told the Eleventh Circuit on Tuesday.
A Los Angeles homeowner hit a Farmers Insurance Co. unit with a proposed class action in California state court on Wednesday alleging the insurers illegally limited coverage of wildfire smoke damage by changing policies without adequate notice and saying it was "not actual fire damage."
Amco Insurance Co. on Wednesday urged a Colorado federal court to rule that it does not have to defend The Vitamin Cottage in a proposed customer class action over a cyberattack against the health-food chain, arguing that the underlying lawsuit claims only economic losses that don't fall within the scope of its policy.
The U.K.'s highest court on Wednesday freed AIG Europe Ltd. from indemnifying a lender for losses it suffered when a now-insolvent personal injury law firm allegedly misused loans in its representation of personal injury clients, holding that an exclusion in the firm's professional indemnity policy with AIG bars coverage.
A New York federal judge ordered Harleysville Insurance Co. on Tuesday to take on coverage responsibilities for a subcontractor involved in a University of Rochester Medical Center construction project in which a worker was hurt when he fell through a roof.
The Federal Deposit Insurance Corp. scored a nearly $5 million jury award in Georgia federal court Tuesday in litigation it brought as receiver for Buckhead Community Bank, which accused a number of the now-defunct bank’s former officers and directors of negligently managing its loan portfolio.
In an increasingly interconnected world, the "internet of things" has led to a tidal wave of cybercrime and all new types of liabilities. Coverage for defective IoT products is currently immature and uncertain, but policyholders can take steps to reduce potential coverage problems, says Nicholas Reuhs of Ice Miller LLP.
Every day, it seemed that virtually the entire day was spent trying to shape the news. Balancing the media day-to-day with the need for strategic planning requires staff to stay in their positions rather than congregate around the ball. Yet the impulse to run to the action is as tempting in the White House as on the soccer field, says C. Boyden Gray, who served as White House counsel for President George H.W. Bush.
China recently issued a document that advances the institution of a disciplinary system by which all entities and individuals will be rated according to their social credit scores. Foreign-invested enterprises and other foreign entities may be particularly vulnerable, say Lester Ross and Tingting Liu of WilmerHale.
The high cost of litigation has increased the pressure on businesses, employers and individual parties to save money by reaching an early resolution of their cases. As a result, many parties are making a front-end investment by inviting experts to participate directly in the mediation process earlier in their cases, say members of Thompson Hine LLP and accounting firm Medica LLC.
In about a six-week span, the U.S. Securities and Exchange Commission has fined three different companies for employee agreements that, in its view, could impede individuals from communicating with the commission. The SEC’s prioritization of this issue, combined with its incredibly expansive interpretation of its whistleblower rule, places companies at a heightened risk of scrutiny, says Renee Phillips of Orrick Herrington & Sutcliffe LLP.
I was given immediate responsibility for responding to the Iran-Contra crisis. My problem as a lawyer was what to do about all the requests for files, documents and other information that were coming in from investigators. Ultimately, it came down to this: What do I believe about my client? says Peter Wallison, who served as White House counsel for President Ronald Reagan.
Recently, the Eleventh Circuit allowed two insurers to deny coverage based on their insureds' failure to fully cooperate. Insurers should make sure that they communicate clearly with their clients in case they need to assert the breach of cooperation clause defense, say attorneys from Dentons.
The experience of preparing for the 1981 air traffic controller strike brought home to me the responsibility a lawyer owes to his or her client — be it an average citizen, a corporation or a president, says Morgan Lewis & Bockius LLP partner Fred Fielding, who served as White House counsel for Presidents Ronald Reagan and George W. Bush.
Results from a recent International Association of Defense Counsel survey reveal a significant disconnect between inside and outside lawyers when it comes to perceptions of their own effectiveness versus the perceptions of their counterparts on the other side of the fence, say Andrew Chamberlin, a partner at Ellis & Winters LLP, and Orlyn Lockard, associate general counsel at Siemens Corp.
The Louisiana Supreme Court recently decided, in Arceneaux v. Amstar Corp., that in long latency disease cases, an insurer’s payments of defense costs may be prorated when the insurer’s occurrence-based policy was effective only during part of the plaintiffs’ exposure years. But the narrow scope of the ruling leaves its ultimate impact uncertain, says Natasha Corb of Manion Gaynor & Manning LLP.