Insurance RSS

  • April 18, 2014

    Barnes & Thornburg Nabs Akin Gump Appellate Pro

    Barnes & Thornburg LLP announced Thursday that it had picked up an appellate and trial lawyer from Akin Gump Strauss Hauer & Feld LLP who handles intellectual property, bankruptcy, insurance, white collar and labor matters to enhance its litigation department in Los Angeles.

  • April 18, 2014

    Evanston Insurance Denies Coverage For $5M RE Scheme

    Evanston Insurance Co. filed suit on Thursday in Virginia federal court alleging it has no duty to defend a title company in an underlying suit claiming its agents misappropriated more than $5 million in escrow funds as part of a real estate scheme.

  • April 18, 2014

    Insurers Not Liable For Sports Co.'s $3M Noncompete Row

    A New York appeals court on Thursday freed two insurers from footing a $3.2 million judgment against a sports equipment company accused of lifting trade secrets after luring a competitor's employee, finding the policies did not cover violations of a corporation's privacy rights.

  • April 18, 2014

    Ex-Mutual Benefits Atty Will Appeal 10-Year Prison Term

    A former outside counsel for Mutual Benefits Corp. filed a notice in Florida federal court Thursday of his intention to appeal a 10-year sentence he received for his role in the company's $837 million insurance investment scam.

  • April 18, 2014

    Ariz. Close To Strengthening Captive Insurer Regs

    A bill sent Thursday to Arizona Gov. Jan Brewer would strengthen state standards for captive insurers by requiring insurance subsidiaries to disclose more information regarding their financial relationships to their affiliated companies and provide regulators with additional tools to oversee potentially problematic tax structures.

  • April 18, 2014

    Liberty Mutual Can't Duck Dissolved Co.'s Asbestos Claims

    A New York appeals court on Thursday affirmed a ruling refusing Liberty Mutual Insurance Co.’s attempt to dismiss asbestos injury suits against a now-dissolved New Jersey valve manufacturer, ruling that corporations that have been dissolved can still be sued under New Jersey law. 

  • April 17, 2014

    Boeing Hit With ERISA Suit Over Coverage For Autistic Kids

    Employees of The Boeing Co. filed a putative class action Thursday in Washington federal court, claiming the company breached fiduciary duties by not including behavioral therapy coverage for autistic dependents in their benefits plan, in violation of the Employment Retirement Income Security Act.

  • April 17, 2014

    Debating ALI's Take On Pro Rata And All Sums Methods

    Whether the American Law Institute should back the pro rata or all sums method for allocating long-tail claims across multiple policy periods, is one of the high-stakes questions stirring up debate ahead of the body's annual meeting in May, when members will mull the latest draft of the ALI's liability insurance principles.

  • April 17, 2014

    Embattled Fla. Judge Sues Commission Over Ethics Probe

    The Florida judge whose removal was recommended Tuesday by the state's Judicial Qualifications Committee because of her involvement as an attorney in a $14.5 million settlement with an insurer has now sued the JQC, claiming its investigation violated her due process rights.

  • April 17, 2014

    Prudential's $2B RMBS Suit Against BofA Mostly Survives

    Most of the claims lodged by Prudential Insurance Co. alleging Bank of America Corp. sold it $2 billion in fraudulent residential mortgage-backed securities survived a motion to dismiss Thursday in New Jersey federal court.

  • April 17, 2014

    Insurers Can Rescind $20M From Fraudster's Firm, Judge Says

    A California federal judge on Monday let four insurers rescind $20 million of commercial crime policies issued to Namco Financial Exchange Corp., a bankrupt real estate firm whose founder was convicted of fraud, finding that Namco had lied on its insurance applications.

  • April 17, 2014

    TIG Sues NHL, 11 Insurers Over Concussion Injury Coverage

    TIG Insurance Co. on Tuesday sued the National Hockey League and nearly a dozen insurers in New York state court, contesting that it owed coverage for two class actions brought by hockey players over concussion injuries.

  • April 17, 2014

    New Zurich American HQ Pulls In $333M In Financing

    St. Louis construction firm Clayco Inc. and landlord Stonemont Financial Group LLC secured more than $333 million to fund land acquisition and development for insurance giant Zurich American Insurance Co.’s new North America headquarters outside Chicago, financing arranger Jones Lang LaSalle announced Wednesday.

  • April 17, 2014

    LeClairRyan Bags Seasoned Med Mal Trial Lawyer In NYC

    LeClairRyan has snagged an experienced McAloon & Friedman PC medical malpractice trial lawyer, who's also a former New York City criminal prosecutor, to join its medical malpractice defense and health care teams, the firm said Monday.

  • April 17, 2014

    ACA Sign-Ups Hit 8M In Win For Health Care Industry

    President Barack Obama announced Thursday that 8 million Americans found private health insurance during the Affordable Care Act’s first open enrollment period, a big win for drugmakers, insurers and hospitals that helped bankroll the law and ended up with more new customers than most expected.

  • April 17, 2014

    AIG, Auto Firms, Homeowners Drove $27B Bailout Loss: CBO

    The Congressional Budget Office on Thursday said the unprecedented 2008 federal bailouts will end up costing the government and taxpayers $27 billion, with most of those losses stemming from assistance to American International Group Inc., General Motors Co., Chrysler LLC and homeowners rather than to banks.

  • April 17, 2014

    Monmouth, Ocean Counties Seeing Most NJ Sandy Suits

    New Jersey state courts have seen at least 1,011 cases stemming from Hurricane Sandy since the storm struck in October 2012, with the hard hit, shore-area counties of Ocean and Monmouth bearing the bulk of those actions, according to figures provided by the judiciary Thursday.

  • April 17, 2014

    TRIA Changes Won't Shake Up Market, Working Group Says

    President Barack Obama's working group for financial markets said Thursday that letting the Terrorism Risk Insurance Act's federal reinsurance program expire would make terrorism insurance more expensive and less widely available, but also that insurers could gradually shoulder more responsibility.

  • April 17, 2014

    Auto Shops Fight State Farm's Bid To Exit Antitrust Suit

    A group of car repair shops on Thursday in a Florida federal court fired back at bids to dismiss their antitrust suit against State Farm Mutual Automobile Insurance Co., Allstate Insurance Co. and other insurers, contending that their allegations that the insurers conspired to drive down repair costs are supported by sufficient facts.

  • April 17, 2014

    Calif. Officials Approve Autism Coverage Regulation

    California officials have approved a regulation requiring health plans to cover behavioral health treatments for autism, proposed last year after allegations that some insurers had declined coverage for such treatments in spite of state law, the state’s insurance regulator announced Wednesday.

Expert Analysis

  • Construction Defect Coverage Summary For 1st Quarter

    John A. Husmann

    2014 has already yielded several noteworthy decisions from courts examining insurance coverage for construction defect claims. Collectively, these cases have dealt with the “occurrence” requirement, contractual liability exclusion and “other insurance” clauses, all of which are sure to affect stakeholders in the construction industry, say John Husmann and Jocelyn Cornbleet of BatesCarey LLP.

  • The Future Of Law Firm PR: The Good, Bad And Ugly

    Paul Webb

    There has been a dramatic change in how public relations professionals interact with the news media to promote or protect a law firm’s brand and reputation. But content is queen and has a bright future in law firm PR — it all begins with a plan that should include goals, performance indicators and a system of assessment, say Paul Webb, director of marketing at Young Conaway Stargatt & Taylor LLP, and Kathy O'Brien, senior vice president at Jaffe PR.

  • Roadblocks To D&O Coverage For Subpoena Response Costs

    Benjamin D. Tievsky

    While it must be emphasized that a policyholder’s entitlement to coverage is dependent upon the precise language of the policy at issue and the specific facts of each case, the recognition by many courts that a subpoena is a “claim” under D&O policies opens the door for potential recovery in a variety of circumstances, says Benjamin Tievsky of Orrick Herrington & Sutcliffe LLP.

  • ALI Principles Of Insurance Should Concern Industry

    Randy J. Maniloff

    Far from being some secret Skull and Bones-like project, the American Law Institute's Principles of Liability Insurance are presently the most talked-about subject among liability insurance professionals. As for their possible significance for liability coverage issues, there wouldn’t be all this talk if there were nothing to see, says Randy Maniloff of White and Williams LLP.

  • Stop And Read Your Slowdown Insurance Policy

    Allen R. Wolff

    Insurance should cover income loss not only when operations are completely shuttered, but also when your business is partially suspended — a distinction important to hotel owners and operators, with services more likely to operate on a reduced level after a loss. Today, some policies affirmatively state the extent of business slowdown coverage to avoid court decisions that narrowly interpret coverage extended under older policy forms, say Allen Wolff and Vianny Pichardo of Anderson Kill PC.

  • Beware 'Jewel' Risks In Lateral Partner Hiring

    Pamela Phillips

    Jewel litigation has been filed after every major law firm bankruptcy in the past 10 years, including Lyon & Lyon, Brobeck, Coudert, Thelen, Heller and Howrey. These lawsuits have produced years of litigation, with similar suits expected in the Dewey bankruptcy. Despite the legal uncertainties surrounding such claims, hiring firms can take steps now to minimize their Jewel risk for any lateral hire, say attorneys with Arnold & Porter LLP.

  • Are You Covered For Food Product Recalls?

    Joshua D. Davey

    While relatively few food recall claims have been litigated, there is a small body of case law that has developed in the last few years highlighting important considerations for policyholders. The cases generally hold that there is no coverage for a purely prophylactic recall, a result that has the potential to exclude a significant number of recalls from coverage — policyholders must demonstrate actual contamination or mislabeling, says Joshua Davey of McGuireWoods LLP.

  • Heartbleed Rains On The Legal Cloud Parade

    David Houlihan

    While the actual breaches are unknown, Heartbleed has the potential to expose all of a lawyer's files stored or transmitted online. The bug raises professional responsibility questions and offers confirmation of the greatest anxieties that the legal industry has about online practice. In fact, the timing is poor for many legal tech providers, following a general industry warming to cloud offerings, says David Houlihan of Blue Hill Research Inc.

  • Whither Appellate Guidance On Unclaimed Property Audits?

    Phillip E. Stano

    Insurers and regulators remain divided over the application of unclaimed property laws to life insurance, and some have increasingly resorted to litigation over the interpretation and administration of unclaimed property statutes. However, given pending case law, 2014 may be the year judicial guidance brings clarity to unclaimed property and insurance law relevant to pending multistate audits, say attorneys at Sutherland Asbill & Brennan LLP.

  • Calif. Odor Case Stinks For Businesses With CGL Policies

    William A. Webster

    A California federal court recently confirmed that purely economic loss from bad odors is not a “loss of use” of tangible property and does not constitute property damage under a commercial general liability policy. However, the court left open whether an odor that causes a business to close its doors is sufficient to deprive an insured of the use of its tangible property for purposes of liability coverage, say William Webster and Glenanne Kennedy of Robins Kaplan Miller & Ciresi LLP.