The Federal Insurance Office delivered one of its overdue reports last week, concluding that a section of the Dodd-Frank Act that addressed reinsurance regulation hasn't hindered state regulators' efforts to collect financial information on reinsurers.
Liberty Mutual Insurance Co. asked the U.S. Patent and Trademark Office's Patent Trial and Appeal Board on Wednesday to toss a Progressive Casualty Insurance Co. covered business method patent for a vehicle monitoring system that helps determine insurance costs, alleging the patented material was obvious.
Hyatt Corp. insurers including Lloyd's of London and Lexington Insurance Co. on Wednesday bested a general contractor's suit seeking compensation for its $53 million settlement payment to Hyatt in an underlying property damage suit.
Obama administration officials who led development of the Affordable Care Act’s troubled marketplace for health insurance defended their work on Wednesday, telling a congressional panel they acted without interference from the White House and that the website is making great strides.
About 100,000 Americans found private health insurance and 400,000 qualified for Medicaid during the first month of the Affordable Care Act’s online marketplaces, the Obama administration said Wednesday, chalking up the sluggish pace in part to technical woes.
Zurich American Insurance Co. on Wednesday hit Bonaventure Hotel Associates Ltd. with a lawsuit claiming it has no duty to defend or indemnify the resort company in litigation over the alleged sexual assault of a customer during a massage at a Florida spa.
Wendy's International Inc. may be entitled to a $2.4 million tax refund after an Illinois appeals court determined that the fast food chain was allowed to exclude from its state income taxes a subsidiary that was created to supply the company's insurance, according to a ruling obtained Wednesday.
The beleaguered federal Affordable Care Act health insurance website, beset by glitches that have prevented thousands from enrolling in insurance plans, has also weathered at least one attempted denial-of-service attack, a U.S. Department of Homeland Security official told a House panel Wednesday.
A reinsurance industry executive who testified at a Wednesday hearing urged Congress to tinker with the federal backstop for federal insurance so the private sector could gradually shoulder more responsibility for conventional terrorism risks, while others argued the soon-to-expire program should be left as is.
A Nomura Capital & Credit Inc. attorney told a New York state judge Wednesday that investors who bought $1.7 billion in mortgage-backed securities from the Japanese bank could only sue it for individual loan repurchase, and that a monoline insurer who backed another $1.2 billion worth couldn't sue.
State National Insurance Co. Inc. filed suit Tuesday to avoid covering a California construction company’s defense in a $25 million wrongful death lawsuit brought by the family of a day laborer who was buried alive in a worksite accident.
The governors of both Florida and Alabama on Monday backed Mississippi in its suit against the U.S. government over rate hikes on policies backed by the National Flood Insurance Program, saying the move could wreck the recovering housing markets in both states.
The Internal Revenue Service should expect to deal with serious issues surrounding taxpayer data security, Affordable Care Act compliance and severe manpower shortages due to expected IRS executive retirements, according to an IRS watchdog report released Tuesday.
A string of recent court rulings could seriously hobble class actions accusing insurers of stiffing customers on employer-provided health benefits, as judges increasingly block lawsuits against companies that make coverage decisions unless they’re officially in charge of plan administration.
New York Properties Insurance Underwriting Association has been hit with a lawsuit in New York state court by more than 100 property owners alleging breach of contract for the company's failure to cover damage caused by Superstorm Sandy.
The Internal Revenue Service on Wednesday will hand a victory to mental health awareness advocates when it publishes rules on the treatment of mental health care under the Affordable Care Act.
State insurance commissioners on Friday asked for input on whether they should consider setting guidelines for handling unclaimed death benefits, heeding calls for uniformity from insurers that have paid steep sums to settle with regulators over their use of the Social Security Administration's Death Master File database.
A unit of Italian insurer Assicurazioni Generali SpA has agreed to a €109 million ($146.4 million) deal with an Allianz SE subsidiary to purchase Allianz’s minority stake in the ongoing Milan CityLife real estate development project, giving it full ownership, the companies announced Tuesday.
French insurance group AXA said Monday it will acquire 51 percent of Colombian insurer Colpatria Seguros for 672 billion Colombian pesos ($349 million), marking the company's entry into the rapidly growing Colombian market.
The Seventh Circuit on Friday found that two separate for-profit companies and their owners can invoke the Religious Freedom Restoration Act to protect them from having to pay for health insurance that provides employees with access to contraception.
The interpretation of pollution exclusions still flummoxes parties, including those in American National Property & Casualty Co. v. Wyatt. An important case for policyholders seeking coverage, the recent decision by the Missouri Court of Appeals continues the line of authority limiting the application of pollution exclusion in order to avoid absurd results, say Nicholas Insua and Jennifer Black Struttis of McCarter & English LLP.
There has been much commentary that the New York Court of Appeals' decision in K2 Investment Group v. American Insurance brought a radical change in New York insurance law by importing into state law the "coverage by estoppel" rule. We disagree with that view and do not believe that the court imported such a rule for several reasons, say attorneys with Ford Marrin Esposito Witmeyer & Gleser LLP.
Nanotechnology and the demand for nanomaterials are expected to grow over the next decade with increasing use in medical devices, structural materials and consumer goods, which means liability insurers, particularly those issuing employers’ liability policies, should consult with their insureds to determine whether they are manufacturing carbon nanotubes and carbon nanofibers, says Lindsey Davis of Zelle Hofmann Voelbel & Mason LLP.
As the case law concerning cyber risks slowly develops, and a market for cybersecurity coverage grows, a new wrinkle for cyberinsurance, war and terrorism exclusions, is emerging, which may create additional bars to coverage for attack victims and present novel evidentiary issues for insurers, say Peter Bryan Moores and Samantha Kranser, Choate Hall & Stewart LLP.
In the landmark decision of Roman Catholic Diocese of Brooklyn v. National Union Fire Insurance, New York's highest court recently addressed, for the first time, several issues familiar to insurance coverage disputes in the context of sexual abuse claims. Not only will this ruling have significant ramifications in similar matters under New York law, but courts in other jurisdictions will also look to the case for guidance, says Rob DiUbaldo of Edwards Wildman Palmer LLP.
This year, Georgia's revamped evidence code went into effect, and Georgia state courts will likely now be more amenable to considering federal precedent when making evidentiary rulings. Insurance litigators should be familiar of the specific changes that may impact insurance cases, including more lenient authentication of documents and clearer standards on character evidence, says Madison Burnett of Robins Kaplan Miller & Ciresi LLP.
Every so often, you may want to tank a mediation. Maybe you know in advance it can’t settle. Maybe the blood is so bad between lawyers or clients that you just want to teach a lesson to the other side. It could be that you think the judge is really enjoying all of the discovery disputes or doesn’t have enough to do. Whatever the reason, here are the top 10 ways to blow a mediation, says Jim Leshaw of Leshaw Law.
The Texas Supreme Court’s recent decision in Lennar Corp. v. Markel Insurance, a dispute arising from consumer complaints on homes built by Lennar and their damages, is an important affirmation of critical rules of contract interpretation favorable to policyholders. At the same time, the opinion demonstrates that insurance companies are unceasing in their efforts to have such rules limited or reversed outright, say attorneys with Reed Smith LLP.
Many courts have recently rejected insurance company arguments that statutory damages are uninsurable penalties, finding that statutory damages can be remedial in nature and covered by insurance. These decisions are especially important in today’s world of online marketing and commerce, where liability for privacy violations arising from unsolicited email and data security breaches is a growing risk, say attorneys with Pillsbury Winthrop Shaw Pittman LLP.
When faced with a product recall, a company must act quickly to protect consumers and its reputation. Businesses should therefore be familiar with the key issues they will confront before and during a recall, including evaluating the severity of the recall, notifying the U.S. Food and Drug Administration and the public and securing insurance coverage, say attorneys with Covington & Burling LLP.