Manufacturer Columbus McKinnon Corp. sued Travelers Indemnity Co. and Liberty Mutual Insurance Co. in New York federal court on Monday, seeking more than $13 million in defense and indemnity coverage for 2,600 asbestos liability lawsuits.
The U.S. Tax Court said Tuesday that a venture capital investor is on the hook for tax deficiencies over separate accounts underlying private placement variable life insurance policies for his elderly relatives, finding he was the assets’ true owner for federal income tax purposes.
With a projected $1 billion budget surplus and Republicans dominating Tallahassee, Florida's 2015 legislative session held promise for big policy changes. But rifts between the chambers over health care and land conservation forced a special session to pass the budget, pushing gaming and other high-profile issues to the sidelines. Here, Law360 takes a look at key issues left hanging after this year’s historic session.
Excess insurers told a New York federal judge on Tuesday not to undo a recent decision dismissing them from Amtrak’s suit seeking compensation for rail damage caused by Superstorm Sandy, claiming that Amtrak has contradicted itself by trying to shoehorn wind-related claims into its suit.
JDS Development and Property Markets Group are said to have scored $725 million in financing from AIG and Apollo; GoPro and NetSuite have reportedly each signed for 49,000 square feet in San Mateo, California; and Mitchell Holdings is said to have bought a New York hotel for $38.5 million.
A jury that cleared Blue Cross Blue Shield of Louisiana in a $26 million breach of contract suit received improper instructions that held a medical equipment supplier and surgery staff provider to an unfair standard, a Texas federal judge ruled Tuesday, granting a new trial.
The U.S. Supreme Court ruled that social media posts aren't threats without intent and strengthened protections of corporate data records, while a retail tracking firm's settlement with regulators has attorneys on the lookout for a rise in consumer class actions. Here, Law360 examines the most important privacy decisions and settlements of the year thus far.
AIG Specialty Insurance Co. shot back at Office Depot Inc. in a suit by the retailer seeking coverage for a whistleblower action, telling a California federal court on Monday that, contrary to the company's argument, state insurance law bars coverage for negligent misrepresentations.
The Second Circuit affirmed Tuesday that American Family Mutual Insurance Co. doesn’t owe anything to reinsurer Mariah Re Ltd., which had claimed it was forced to pay $100 million based on an improperly altered report on a 2011 storm system.
Insurance brokerage Willis Group Holdings PLC said Tuesday that it has inked an all-stock deal worth about $18 billion to pick up professional services firm Towers Watson & Co.
A trio of insurance companies waited too long to intervene in a class action to contest a metal supply company's $20 million settlement of claims that it violated the Telephone Consumer Protection Act, the Seventh Circuit found Monday, saying the insurers should have tried to intervene at the outset of the litigation.
The National Federation of Independent Business on Monday lashed out at the IRS over a “schizophrenic” rule that penalizes small businesses that choose to compensate employees for health care-related expenses rather than provide group health insurance, throwing its weight behind repeal efforts in Congress.
MetLife Inc. sought to force the Financial Stability Oversight Council to fork over hundreds of documents it allegedly used in designating the life insurer as a systemically important financial institution, contending Monday that there is no compelling reason the FSOC should withhold the materials.
Days after the U.S. Supreme Court’s historic gay rights ruling, Texas continued presenting same-sex couples a mixed bag, with the state attorney general advising county clerks Sunday that they do not have to grant marriage licenses if it would violate their religious beliefs.
The U.S. Supreme Court decision upholding nationwide Affordable Care Act subsidies showed once again that Chief Justice John G. Roberts Jr. relies heavily on congressional intent to interpret federal laws and rejects a narrower approach favored by other conservative justices, experts say.
The U.S. Supreme Court on Monday denied a request from Geico General Insurance Co. to review a "devastating" Eleventh Circuit decision ruling that a certificate of title is not a requirement to proving motor vehicle ownership under Florida law.
The Alabama Supreme Court on Friday held that American Bankers Insurance Co. of Florida can compel five homeowners to arbitrate their claims that the insurer charged excessive premiums for unnecessarily high levels of coverage, despite the fact that the policyholders didn't sign individual arbitration agreements.
Anthem Inc. was hit with a putative class action on Friday in California federal court over one of the largest corporate breaches of health care data in U.S. history, in which it is accused of failing to encrypt its data or heed warnings that it was at risk to hackers.
Federal prosecutors on Monday said that they had gone “above and beyond” their legal requirements to provide documents to a former Wells Fargo & Co. vice president in an increasingly heated discovery battle related to a government mortgage fraud suit against the bank.
The U.S. Supreme Court agreed Monday to review a circuit ruling for Liberty Mutual Insurance Co. that the Employee Retirement Income Security Act preempted a Vermont law requiring self-insured employee health plans to report claims data to the state.
It seems there is no more vehemently decried investment product than the variable annuity. But the truth is that variable annuities can form part of a balanced, effective portfolio if you avoid the red flags that can spawn annuity-related litigation, says Rhett Owens of Burr & Forman LLP.
As the Internet of Things expands, so too do cyber risks created by the supply chain. Manufacturers looking to control that risk may seek indemnification and insurance protection from their suppliers, however that strategy contains hidden risks as well, say Lon Berk and Sergio Oehninger at Hunton & Williams LLP.
The Philadelphia Court of Common Pleas' ruling in Baum v. Keystone Mercy Health Plan reinforces the case that a lack of standing is a powerful defense for companies facing data breach-related class actions. Baum also recognizes that lack of standing can be asserted at the certification stage when the purported class representative cannot demonstrate that he or she suffered injury or harm, say attorneys at Pepper Hamilton LLP.
In legal marketing circles, there are few topics peddled about more than “hot tips” for improving your law firm’s website. Google it. You’ll find more advice than you could ever digest. However, there are larger trends in technology, culture and user behavior that are impacting firms in very significant ways and are not being talked about nearly as much as they should be, says Stephan Roussan, founder of consulting and web developm... (continued)
Judge Thomas Wheeler’s strategic invocation of Walter Bagehot in the recent decision splitting the baby in the American International Group trial is not unique. Rather, it is representative of the ways Bagehot’s dictum has been abused to preclude meaningful discussion of when and how the Federal Reserve should provide liquidity support to troubled financial institutions, says Kathryn Judge, associate professor of law at Columbia Law School.
In Lido Beach Towers v. Denis A. Miller Agency Inc. the New York state appeals court affirmed a lower court’s order dismissing all claims of negligence, breach of contract and cross-claims against the individual insurance broker, demonstrating that under certain circumstances an argument based on agency principles may relieve a broker from personal liability for the alleged acts of his principal, says Sara Ward Mazzolla at Bressler... (continued)
The bottom line of the U.S. Supreme Court's ruling in King v. Burwell is that the Affordable Care Act, as a whole, had a consistent intent for federal tax subsidies to be available to reduce consumer spending on health insurance purchased through federally run exchanges, even if ambiguous provisions and inartful drafting can be found within the statute, say attorneys at Locke Lord LLP.
Most courts hold that an insurance company will not be estopped from denying coverage even if the company participates in the defense, provided it gives timely notice to the policyholder through a reservation of rights letter. But there is one very important caveat — the letter must be both timely and sent directly to the policyholder for whom the defense is provided, say attorneys at Reed Smith LLP.
The recent granting of class certification by the District of New Jersey to participating and nonparticipating chiropractors in DeMaria v. Horizon Healthcare Inc. offers a blueprint to class action certification for health care providers seeking to challenge health insurer policies that may systematically deny or reduce benefits paid, says James Ferrelli of Duane Morris LLP.
In the last 10 years, there have been reports of a number of continuing care communities failing and declaring bankruptcy throughout the country. This has led to a greater regulatory focus on the solvency of CCCs and the terms of the contracts they offer. Particularly in Florida, state regulators have increased their scrutiny of CCC refundable-type contracts, says Holland & Knight LLP's Beth Vecchioli, a former staffer in the Flori... (continued)