Insurance

  • December 19, 2014

    Centex Wins Again In Travelers' Choice-Of-Counsel Suit

    A California federal judge on Friday again dismissed claims brought by Travelers Property Casualty Co. of America and others against Centex Homes over the choice of counsel for Centex in a construction defect suit, ruling that the insurers failed to show the home-building company had breached its duty to cooperate.

  • December 19, 2014

    Texas High Court Will Hear Life Partners Securities Suits

    The Texas Supreme Court on Friday agreed to resolve a split among lower appellate courts on whether life settlements — fractional interests in insurance policies — sold by Life Partners Inc. can be regulated as securities, granting review to a putative class action and an enforcement suit from state regulators.

  • December 19, 2014

    Calif. Panel Says Concepcion Defeats Broughton-Cruz Rule

    A California appellate panel Thursday bolstered the Federal Arbitration Act's preemption in the Golden State, finding the U.S. Supreme Court's Concepcion decision and the state high court's Iskanian ruling defeat a judge's reliance on the Broughton-Cruz rule to deny Citibank NA's bid to arbitrate an insurance consumer class' injunctive-relief claims.

  • December 19, 2014

    MetLife Poses Potential Stability Threat, Regulators Say

    MetLife Inc. is so big that its collapse or major financial troubles could cause significant damage to the broader economy, justifying the life insurance giant's designation as a systemically important financial institution subject to Federal Reserve oversight, a panel of U.S. regulators said in a report released Friday.

  • December 19, 2014

    5th Circ. Rejects Insurer's Call To Review Home Defect Ruling

    The Fifth Circuit declined on Thursday to revisit its earlier decision that Mid-Continent Casualty Co. had incorrectly applied a contractual liability exclusion in a construction defect case and also denied its request to certify questions to the Texas Supreme Court.

  • December 19, 2014

    5 IPOs Reap $1B In Last Full Week Of Record-Busting 2014

    Five companies launched initial public offerings the last full week before Christmas, raking in more than $1 billion combined with two cancer immunotherapy developers and an alternative lender pricing above their ranges, as 2014 locks down a record year for IPOs.

  • December 19, 2014

    Catholic Orgs Take ACA Challenge To High Court

    Religious organizations affiliated with the Catholic Church have asked the U.S. Supreme Court to weigh in on their challenge to an Affordable Care Act mandate that stipulates they fill out paperwork before being excused from providing birth control to their employees.

  • December 19, 2014

    Taxation With Representation: Wilson Sonsini, Shearman, DPW

    In this week's Taxation With Representation, Thoma Bravo snaps up Riverbed Technology in a $3.6 billion sale, while Emerson Electric unloads its power transmissions business in a $1.4 billion deal.

  • December 19, 2014

    CVS, Walgreen To Expand ACA Promotion Work

    The Obama administration announced Friday that the nation's largest pharmacy chains, including CVS Health Corp. and Walgreen Co., will expand efforts to promote Affordable Care Act enrollment, a move that comes as uninsured patients are increasingly harder to reach.

  • December 19, 2014

    Mortgage Insurer Radian Protests $1B REMIC Tax Bill

    Mortgage insurer Radian Group Inc. has protested about $986.5 million in alleged deficiencies and penalties levied against it by the Internal Revenue Service, arguing in a series of petitions made public Friday that it had properly claimed losses related to real estate mortgage investment conduit interests.

  • December 19, 2014

    Gotham Dodges $21M Judgment In 11th Circ.

    The Eleventh Circuit on Friday upheld a lower court's ruling that Gotham Insurance Co. doesn’t owe coverage for a $21 million judgment against a title insurance company whose now-convicted attorney sunk a condo development by stealing the deposits of prospective buyers.

  • December 18, 2014

    Ex-Bingham Insurance Pro Flees To Robinson & Cole

    Robinson & Cole LLP has picked up an insurance expert and seasoned arbitrator from Bingham McCutchen LLP for its Hartford, Connecticut, office, as the mass flight from the ailing firm continued Thursday.

  • December 18, 2014

    6th Circ. Affirms Toss Of $326M Grand Ole Opry Flood Suit

    The Sixth Circuit on Thursday ruled that the government isn’t responsible for $326 million in damages following a 2010 flood in Tennessee that wrecked the Grand Ole Opry, washing away claims by hotelier Gaylord Entertainment Co., several insurance companies and Nissan North America Inc.

  • December 18, 2014

    MetLife Deemed Systemically Important By Regulators

    The Financial Stability Oversight Council has issued a final determination that MetLife Inc. is a systemically important financial institution, which will force the insurer to meet higher prudential standards and subject it to Federal Reserve oversight, the company said Thursday.

  • December 18, 2014

    Utica Mutual, Reinsurers Settle Over Hunton & Williams Role

    Attorneys for Utica Mutual Insurance Co., Employers Insurance Co. of Wausau and National Casualty Co. asked a New York federal judge to dismiss their dispute over whether to disqualify Hunton & Williams LLP attorneys from representing Utica in its $1.5 million arbitration dispute with the two reinsurers.

  • December 18, 2014

    Vermont Gov. Backs Off Single-Payer Health Care System

    Vermont Gov. Peter Shumlin announced on Wednesday that he won’t recommend financing a single-payer state health care system in the coming year, an idea he has long endorsed, saying the potential cost to residents and businesses and a lack of federal government support prevented the plan from being viable.

  • December 17, 2014

    Terror Coverage Thrown Into Doubt After TRIA Dies In Senate

    The U.S. Senate's failure Tuesday to extend the federal terrorism reinsurance program that is set to expire at year's end could lead to sky-high premiums for terrorism coverage or a scarcity of coverage options for businesses, putting Congress under heavy pressure to pass an extension in early 2015, according to experts.

  • December 17, 2014

    3rd Circ. Greenlights Sanctions Bid In Veggie Contract Row

    A Third Circuit panel on Wednesday freed frozen vegetable company Unilink LLC officers from liability to supplier Food Team International Ltd. after Unilink canceled a broccoli contract, but the court said the company and its attorney could potentially be sanctioned for failing to disclose its insurance policy.

  • December 17, 2014

    11th Circ. Says Dueling Cases Void Insurance Exclusion

    The Eleventh Circuit on Wednesday overturned a lower court’s decision that St. Paul Mercury Insurance Co. didn’t owe coverage for an underlying $15 million suit brought by the Federal Deposit Insurance Corp., ruling that an insured v. insured exclusion was ambiguous because courts' interpretation of similar language has been varied.

  • December 17, 2014

    Insurer Says It Doesn't Have To Cover Target In Copyright Suit

    Samsung Fire & Marine Insurance Co. Ltd. on Wednesday sued Target Corp. and lingerie maker Parisa USA in California, claiming it doesn't need to provide coverage to those companies in an underlying suit alleging they sold and manufactured copyright-infringing lingerie.

Expert Analysis

  • Good Luck Guessing With The Gov't On Gainsharing

    Norman Tabler Jr.

    Despite the government continuously sending signals that it approves of gainsharing, such arrangements are illegal for both hospitals and physicians and yet, given the past and current position of the U.S. Department of Health and Human Services' Office of Inspector General, the office is highly unlikely to take enforcement action against a gainsharing arrangement with safeguards, says Norman Tabler Jr. of Faegre Baker Daniels LLP.

  • NJ Insureds Benefit From Broad Reading Of Physical Loss

    Robert Morrow

    Gregory Packaging Inc. v. Travelers Property Casualty Co. of America represents a victory for New Jersey policyholders in pushing back against insurer efforts to narrow the scope of property insurance coverage — the decision interprets the scope of commercial property coverage in a manner consistent with policyholders’ reasonable expectations of coverage, say attorneys at Hunton & Williams LLP.

  • IRS Guidance On Full-Time Status May Help Employers

    Ryan Gorman

    The Internal Revenue Service's recent guidance may be of particular relevance for employers with variable hour, seasonal and part-time employees that want to simplify, reconcile or consolidate differing measurement periods or methods for determining the full-time status of their workforce for purposes of the employer shared responsibility provisions of the Affordable Care Act, say Samuel Choy and Ryan Gorman of King & Spalding LLP.

  • 8th Circ. Clarifies Coverage Trigger For Food Recall

    Jennifer Senior

    The Eighth Circuit's recent decision on the level of public health risk required to trigger coverage for a voluntary food product recall under an accidental product contamination policy in Hot Stuff Foods LLC v. Houston Casualty Co. may encourage settlement in coverage disputes and is reason to re-evaluate and clarify policy language, says Jennifer Senior of Jenner & Block LLP.

  • What Happens When Legal Aid Cuts Stimulate Pro Bono?

    Kevin J. Curnin

    The bad news coming out of the European Pro Bono Summit in November was the rising toll of heavy cuts to public legal aid in England. From this crossroad, there is a lot to be learned about the relationship between public and private assistance, the direction of legal help for the poor in the EU, and whether the American legal aid/pro bono experience offers a road map for what’s next in Europe, says Kevin Curnin of the Association ... (continued)

  • What's Missing From Many Lawyers' Cyberinsurance Advice

    Daniel Garrie

    Unfortunately I am watching many companies, law firms and accounting firms purchase cybersecurity insurance that is insufficiently effective, overly expensive or both. While insurance is necessary and important, it must be paired with the deployment of hardware and software systems and a review of existing policies and agreements, says Daniel Garrie of Law & Forensics LLC.

  • Essential Health Benefits Rules Will Still Burden States

    Caroline Brown

    Requiring state compliance with the Affordable Care Act's commercial essential health benefits rules recently issued by the Centers for Medicare & Medicaid Services has resulted in an unnecessarily complex benefit design process for certain commercial plans and Medicaid alternative benefit plans, say Caroline Brown and Philip Peisch of Covington & Burling LLP.

  • 9 Lessons For Creditors From Detroit's Bankruptcy

    Lawrence A. Larose

    A great deal of ink has already been spilled on what Detroit's bankruptcy case means, particularly from the viewpoint of the municipality and its citizens. As counsel for one of the largest creditors in the city’s Chapter 9 case, we offer the following nine lessons for creditors and other stakeholders of distressed municipalities, say Lawrence Larose and Samuel Kohn of Chadbourne & Parke LLP.

  • 3 Questions To Ask Yourself Before Hiring Appellate Counsel

    David Axelrad

    In the classic case, a client and his attorney seek appellate counsel after the trial court proceedings are concluded. But these days, “classic cases” are few and far between — more and more, appellate lawyers assist in the trial court with preservation of the appellate record and compliance with the many technical rules of appellate procedure, says David Axelrad of Horvitz & Levy LLP.

  • Clarity Comes To ACA's 'Minimum Essential Coverage'

    Philip Peisch

    Recently published rules and guidance from the Internal Revenue Service and Centers for Medicare & Medicaid Services clarify the types of Medicaid coverage that constitute "minimum essential coverage" under the Affordable Care Act and the options for individuals receiving Medicaid not recognized as such, say Caroline Brown and Philip Peisch of Covington & Burling LLP.