A Texas federal jury on Friday issued a $20.5 million verdict in favor of law firm T. Wade Welch & Associates to conclude a trial over whether OneBeacon Insurance Group Ltd. had to indemnify the firm against malpractice claims that its former client Dish Network Corp. brought after being sanctioned in antitrust litigation.
CVS Health said Monday it was developing a new network of tobacco-free pharmacies, a move that has implications for employer benefit plans and that reportedly will require some consumers to pay additional copays to fill prescriptions at pharmacies that continue to sell cigarettes.
The Federal Housing Finance Agency's plan to boost mortgage lending by allowing Fannie Mae and Freddie Mac to purchase loans with 3 percent down payments may stir housing bubble memories, but experts say better underwriting standards and other protections should prevent the worst subprime lending practices from returning.
The U.S. Supreme Court on Monday declined to hear Blue Cross Blue Shield of Michigan's appeal of a $5.1 million judgment against the insurer over allegations it charged an auto supplier hidden fees while administering its health plan, allowing a host of similar lawsuits to go forward, according to plaintiffs' firm Varnum LLP.
Harbinger Group Inc. locked horns with OM Group (UK) Ltd. over a $350 million insurance acquisition's terms Monday, with Harbinger claiming the London seller had no plan to cope with skeptical Maryland regulators and with OM insisting Harbinger seized on a regulatory stumble to unlawfully demand a $50 million price break.
Humana Inc. is attacking a proposed class action in Ohio federal court accusing it of improperly recouping Medicare Advantage overpayments from chiropractors, saying the lawsuit clearly misreads federal law and would undermine anti-fraud efforts.
The Second Circuit has refused to overturn a lower court’s finding that Seneca Insurance Co. can’t claim reinsurance from Everest Reinsurance Co. in a wrongful termination suit, finding “no merit” in Seneca’s arguments that prejudgment interest should be considered part of its loss.
A putative class action pending in Florida federal court against HCA Holdings Inc. for alleged overcharging of patients' personal insurance protection at one of its Florida hospitals has been expanded to include two additional facilities in the state.
The judge presiding over Detroit’s bankruptcy case said Monday that the city will likely find out in less than three weeks if it can exit the largest Chapter 9 in history under a plan that would erase more than $7 billion in debt and reinvest in essential services to reverse a half-century of civic decline.
The initial public offering for Australian state-owned health insurer Medibank Private is expected to be worth AU$4.3 billion to AU$5.5 billion (US$3.7 billion to US$4.8 billion), making it one of the top 100 companies on the Australian Securities Exchange and a potential magnet for foreign investors, the government said Monday.
A New York state judge has ruled that Century Indemnity Co. must use a pro rata allocation formula to determine cleanup costs for polluted manufactured gas plant sites on Long Island, New York, in a 17-year-old dispute pitting Century and others against current policyholder KeySpan Corp.
In a flurry of decisions Friday, same-sex couples can now marry in Alaska and Arizona, while a federal judge in Wyoming struck down that state’s gay marriage ban, but stayed the ruling for a week pending an appeal.
A Florida federal judge on Thursday denied Guarantee Insurance Co.'s bid for sanctions against its insurance agent and broker over alleged discovery violations, ruling the defendants had not acted in bad faith in the dispute over the handling of an underlying workers’ compensation claim.
Massachusetts Mutual Life Insurance Co. on Friday asked a federal judge to cancel JPMorgan Chase & Co.’s trademarks for its “SmartRetirement” services and called for a declaration that the insurer’s own retirement services under the name "RetireSmart" don’t infringe those marks.
Former American International Group Inc. CEO Edward Liddy argued Friday that the only alternative the company had to accepting the Federal Reserve’s “relatively harsh” 2008 bailout offer was bankruptcy, saying even with its stringent conditions shareholders had ultimately benefited from the deal.
MetLife Inc. faces an uphill battle in its challenge to its proposed designation as a systemically important financial institution subject to Federal Reserve oversight, given factors such as the highly deferential standard of review favoring federal regulators, experts say.
American International Group Inc. on Tuesday bashed the IRS for alleging that several transactions AIG used for foreign tax credits lacked economic substance, telling the Second Circuit the doctrine doesn't apply to the $306 million refund fight because the company complied with congressional standards.
Two United HealthCare Services Inc. units could face $2.5 billion in damages at a trial beginning Monday in Nevada over allegations they exposed customers to hepatitis C by knowingly referring them to contaminated endoscopy clinics, after a similar trial last year resulted in a historic $524 million verdict.
Northrop Grumman Corp. has dropped claims against Travelers Indemnity Co. for coverage of environmental cleanup costs at two southeast U.S. sites, according to a Thursday order filed in New York federal court, as the parties prepare for settlement discussions concerning other sites along the East Coast.
International insurance giant Old Mutual PLC is set to acquire private equity-backed investment manager Quilter Cheviot for up to £585 million ($941.2 million), the companies said Friday, moving Old Mutual one step closer to its goal of becoming a leading wealth management player in the U.K.
Force majeure clauses in hotel management agreements may be regarded by some as boring boilerplate provisions. Yet, in the aftermath of a significant event — which could range from heightened political tension as in Hong Kong to the rapid spread of viruses such as Ebola — it can become key to the operation of the whole agreement, say Andrew MacGeoch and Emily Wong of Mayer Brown LLP.
A traditional directors and officers insurance policy risks dilution where the company also faces a covered claim. And when the company has filed for bankruptcy, payment of the proceeds for claims against the directors and officers may be delayed, and even impaired, says Mary McCutcheon of Farella Braun & Martel LLP.
Although the National Collegiate Athletic Association's recent decision to enable student-athletes to borrow against their potential future earnings in order to purchase insurance that protects those earnings only affects the handful of student-athletes who might play professional sports, it nevertheless represents a significant departure from the NCAA’s previous position, says Richard Giller of Polsinelli PC.
UnitedHealth Group Inc. v. Columbia Casualty Co. is a blunt reminder that the failure to prove up one’s case with actual evidence at the summary judgment phase can have serious consequences. It's also instructive on the types of proof an insured may rely on to prove allocation between covered and uncovered claims in a multiclaim settlement, say Patricia St. Peter and Kaisa Adams of Zelle Hofmann Voelbel & Mason LLP.
The costs of defending securities class actions continue to increase, and the root cause is the convergence of two related factors — the prevailing view that securities class actions are “bet the company” cases, and the consequent reflexive hiring of BigLaw firms, says Douglas Greene of Lane Powell PC.
Many legal briefs are written in impenetrable jargon and begin with an introduction telling the court what it already knows, using words that stem from the 18th century, such as “hereinafter.” Instead, we should approach briefs the way novelists approach their writing, says Michael Rubin of McGlinchey Stafford PLLC.
"All sums" liability theory is based on an erroneous and selective reading of "all sums" language — such an interpretation violates the fundamental and nearly universal rule of construction that insurance contracts must be read as a whole, says Scott Seaman of Meckler Bulger Tilson Marick & Pearson LLP.
Although the Seventh Circuit's ruling in Myrick v. WellPoint Inc. suggests a plaintiff may meet the burden of proving members of a putuative class action qualify under the home-state exception of the Class Action Fairness Act through random sampling, many questions remain unanswered, says Esther McDonald of Seyfarth Shaw LLP.
Cammarata v. State Farm Florida Insurance Company represents a significant broadening of insurer bad faith law in Florida — where an insurer could previously avoid bad faith exposure simply by defeating a policyholder’s breach of contract claim, such a defeat no longer offers the insurer safe harbor, say Mike Levine and Anna Lazarus of Hunton & Williams LLP.
Today, information intersects every practice area, making all lawyers effectively information governance practitioners in one way or another. The issue is whether you will consciously embrace this emerging discipline — and capitalize on it to the benefit of your clients and your practice, says Ann Snyder of the Information Governance Initiative.