Insurance

  • April 17, 2015

    Estee Lauder Insurer Denied Replay Of Late-Notice Defense

    A New York Supreme Court judge nixed OneBeacon Insurance Group’s attempt to reargue that Estee Lauder Inc. provided late notice of its claims related to dumped hazardous materials, saying that the insurer’s previous withdrawal of its late notice defenses isn’t a waiver of those defenses.

  • April 17, 2015

    State Insurance Regulators Step Up Cybersecurity Pressure

    The National Association of Insurance Commissioners on Friday warned that state regulators are planning to more closely scrutinize insurers' data security practices, and are expecting industry members to take steps to ramp up threat information-sharing and tighten breach notification.

  • April 17, 2015

    3 Questions About EEOC Rules And Wellness Programs

    The proposed U.S. Equal Employment Opportunity Commission rule published Monday on using financial incentives to encourage worker participation in wellness programs was welcomed by management-side attorneys, but they still had questions about some areas. Here, Law360 looks at three open issues on the minds of attorneys and employers.

  • April 17, 2015

    Ecolab Buys 882,000-Sq.-Ft. Travelers Tower In St. Paul

    Ecolab Inc. said Thursday it is buying a 17-story, 882,000-square-foot tower in St. Paul, Minnesota, from The Travelers Cos. Inc. and plans to move its in-town world headquarters to the property.

  • April 17, 2015

    11th Circ. Won't Rehear Stock Certificate Loss Case

    The Eleventh Circuit on Thursday denied an Alabama bank’s request for a rehearing of the court’s decision that a Travelers Cos. Inc. financial institution bond didn’t cover losses the bank suffered when a customer defaulted on loans backed in part by a bogus stock certificate.

  • April 17, 2015

    Atty Can’t Prove Insurer Promised To Hire Him, Judge Says

    A California federal judge on Thursday declined to reconsider an order finding that Lexington Insurance Co. didn’t renege on an oral agreement with Cell-Crete Corp. to hire its personal counsel, ruling that additional depositions wouldn’t advance the plaintiffs’ claims.

  • April 17, 2015

    Seyfarth Shaw, Banks Ran Tax Shelter Scam, Suit Says

    Seyfarth Shaw LLP, Northern Trust Corp. and Christiana Bank & Trust Co. were sued Friday for allegedly hawking an illegal tax shelter scheme that cost Applied Underwriters Inc.'s founder millions of dollars in back taxes on his $64 million stock sale to Berkshire Hathaway Inc.

  • April 17, 2015

    Hogan Atty's Crash Not Covered By Firm Policy: Va. High Court

    The Virginia Supreme Court ruled Thursday that a former Hogan Lovells partner wasn't covered by the firm's insurance policy with Federal Insurance Co. when he was involved in a car accident while commuting to work, concluding that the attorney wasn't using the vehicle for the firm's business or personal affairs.

  • April 17, 2015

    Wells Fargo Exec Wants Gov’t Docs In $189M Fraud Suit

    A Wells Fargo Bank NA executive asked a New York federal judge on Thursday to make the government release 179 withheld documents in a $189 million mortgage insurance suit against the bank, saying the government has failed to show a lawful rationale for withholding them.

  • April 16, 2015

    Carlton Fields Adds Ex-Locke Lord Insurance Pro In LA

    Carlton Fields Jorden Burt LLP has snagged a former Locke Lord LLP insurance and reinsurance pro with experience in litigation, regulatory and transactional matters for its Los Angeles office, the firm announced Thursday.

  • April 16, 2015

    $150M In Transocean Excess Coverage Tapped, Judge Says

    A Louisiana federal judge overseeing the Deepwater Horizon oil spill multidistrict litigation found Thursday that certain underwriters at Lloyd's of London and various insurance companies have satisfied their obligations under excess policies providing $150 million in coverage to Transocean Ltd.

  • April 16, 2015

    Whirlpool, Others Back M&G In Health Benefits Battle

    Whirlpool Corp. urged the Sixth Circuit Tuesday to apply the “clear” standard endorsed by the Supreme Court’s recent Tackett ruling, which vacated a Sixth Circuit decision ordering M&G Polymers USA LLC to pay lifetime health care benefits for a class of retirees, saying the high court’s rationale should prevail.

  • April 16, 2015

    Judgment Nixed Against Ex-Mostyn Atty In Referral Fee Fight

    A Texas appeals court on Thursday vacated a judgment against a former Mostyn Law Firm attorney being sued by the firm for allegedly claiming illegitimate referral fees from insurer settlements, saying the trial court erred by failing to strike the firm's petition because its plenary power had expired.

  • April 16, 2015

    Catlin's Win Upheld In Kohl's Construction Coverage Row

    A Texas appeals court on Thursday upheld Catlin Specialty Insurance Co.'s win over Williams Development & Construction Inc. and a subcontractor in a dispute over coverage for an underlying suit regarding alleged construction defects at a Kohl's store, ruling that Catlin had no duty to defend or indemnify the subcontractor.

  • April 16, 2015

    Judge Won't Revist Reinsurer's Asbestos Costs

    A New York federal judge on Wednesday said she wouldn’t revisit her ruling that limited Global Reinsurance Corp.’s share of the more than $60 million that Century Indemnity Co. has paid to cover Caterpillar Tractor Co. in asbestos litigation, saying that Century misunderstood a Second Circuit decision.

  • April 16, 2015

    High Court Blocks 3rd Circ. OK Of ACA Birth Control Waiver

    The U.S. Supreme Court late Wednesday at least temporarily blocked a Third Circuit decision that upheld a new opt-out process for the Affordable Care Act’s contraception mandate, raising fresh questions about the accommodation for religious objectors.

  • April 16, 2015

    Rep. Pushes Effort To Nix ACA 'Belly Button' Tax

    U.S. Rep. Pat Tiberi, R-Ohio, strengthened his push on Thursday to repeal the Affordable Care Act’s so-called belly button tax, or reinsurance fee, by reintroducing legislation to nix the measure, which he says unnecessarily increases the cost of health care.

  • April 16, 2015

    AIG Brass Can’t Dodge NY's Relentless Fraud Suit

    A New York state appeals court on Thursday refused to toss New York Attorney General Eric Schneiderman’s civil charges against former American International Group Inc. CEO Maurice “Hank” Greenberg over allegedly fraudulent transactions, ruling the state’s disgorgement claim was legally viable.

  • April 16, 2015

    Ill. City Says OneBeacon Must Cover $11M Stadium Spat

    The city of Zion, Illinois, told a federal judge on Wednesday that OneBeacon America Insurance Co. is on the hook for defending the city and two officials in an underlying $10.7 million suit over an alleged baseball stadium construction scam, insisting that the city's policy provides coverage.

  • April 16, 2015

    EEOC Sues Md. Agency For Paying Female Workers Less

    A Maryland state agency that ensures insurance consumers receive fair treatment paid its female investigators and enforcement officers less than their male counterparts, the Equal Employment Opportunity Commission claimed in a suit filed Wednesday.

Expert Analysis

  • 5 Steps To Data Breach Coverage For Card Issuer Liability

    Roberta D. Anderson

    Target’s $19 million settlement with MasterCard underscores very significant sources of potential exposure that often follow a data breach, including claims from financial institutions seeking to recover losses associated with credit and debit cards. These potential sources of data breach and payment brand liability may, however, be covered by commercial general liability insurance, which most companies have in place, says Roberta ... (continued)

  • Virginia's ‘Rocket Docket' Continues To Roar

    Robert M. Tata

    The Eastern District of Virginia ― known as the “Rocket Docket” ― had the fastest trial docket in the country in 2014, for the seventh year in a row. The median time interval to trial was 12.5 months. That’s compared to a nationwide average of 24.9 months to try a case, says Robert Tata, managing partner of Hunton & Williams LLP's Norfolk, Virginia, office.

  • Moving On Up The Value Chain: Here Is What Legal Can Do

    Lance Ellisor

    At a time of increasing litigation costs and rising claims, legal departments are facing pressures to lower overall legal spending and evolve from a company cost center into a strategic business partner. As a result, smart legal departments are increasingly focusing on brand management, predictive decision-making and commercial acceleration, says Lance Ellisor of Mitratech Holdings Inc.

  • 2 Routes To Hourly Rates For Lawyers

    Gerald G. Knapton

    If we were developing a system to determine legal fees from a clean slate, we would price our professional services according to quality, efficiency and results — tasks and team would be agreed upon. Instead, we have an hourly system that discourages tight management, can lead to padded bills and includes time for work that may not have been necessary, says Gerald Knapton of Ropers Majeski Kohn & Bentley PC.

  • Interest In Ride-Sharing Insurance Is Revving Up

    Lawrence R. Hamilton

    Insurance concerns about transportation network companies have been heightened by high-profile accidents where coverage was unavailable under a TNC driver’s personal auto policy due to personal livery exclusions, which have resulted in states and local jurisdictions regulating TNCs and imposing insurance requirements, say attorneys at Mayer Brown LLP.

  • What We Do And Don't Know About Iran Sanctions Relief

    John Barker

    Iran is not yet fully open for business by persons subject to U.S. jurisdiction or who trade in U.S.-origin goods and services. U.S. authorities can be expected to continue to increase enforcement of the Iran-related trade sanctions and export controls that remain in place, say attorneys with Arnold & Porter LLP.

  • US Sanctions And Foreign Insurers — The JCPOA Effect

    Douglas Maag

    Foreign insurers are generally not subject to U.S. sanctions prohibitions, but they are nevertheless exposed to sanctions penalties if they engage in targeted Iran-related transactions. The recently announced Joint Comprehensive Plan of Action is expected to substantially ease U.S. Iran sanctions, but successful completion of the JCPOA is far from certain, says Douglas Maag of Clyde & Co LLP.

  • The Next Big Wave Of Insurance Class Actions

    Wystan Ackerman

    The legal media has largely overlooked an issue that is heating up in cases across the country — whether, when estimating the actual cash value of property damage under a homeowners’ insurance policy, an insurer may apply depreciation to the labor component of the replacement cost estimate. The plaintiffs bar, likely emboldened by recent decisions, will undoubtedly litigate this issue against more insurers and in more jurisdictions... (continued)

  • How To Weather Media Inquiries In High-Profile Cases

    Jolie Balido

    Avoid using “no comment” in response to a question or statement from reporters. Some reporters, particularly TV news reporters, are simply trying to elicit a reaction for a quick visual and aren’t particularly concerned with the actual answer, says Jolie Balido, president of marketing communications firm Roar Media.

  • Practical D&O Insurance Considerations For PE Firms

    Ari Berman

    Private equity funds should carefully examine the definition of “claim” in their directors and officers policies to ensure that it extends to subpoenas and investigative orders issued by government agencies. Meanwhile, the portfolio company’s D&O insurance plays a slightly different role in the various stages of the private equity firm’s investment in the company, say Ari Berman and Sarah Mitchell of Vinson & Elkins LLP.