A federal judge Monday rejected counterclaims from Lloyd's of London in a putative class action alleging its property insurance policies conceal separate deductibles for hurricane damage in violation of Florida law.
Citing the U.S. Supreme Court’s 2010 decision in Merck v. Reynolds, the Second Circuit on Monday revived a proposed class action alleging accounting malfeasance by MBIA Inc., which investors say allowed the company to avoid reporting a $170 million loss.
A truck maker Monday said it would ask the Sixth Circuit to reverse a ruling that the manufacturer lacked the authority to change prescription drug benefits for retirees under a 1993 class action settlement.
The Virginia General Assembly passed legislation Thursday aimed at closing a loophole in the state's workers' compensation law that blocks employees from receiving insurance benefits if they are physically or mentally unable to remember the accident that caused their injury.
Attorneys for Swiss Reinsurance Co. Ltd. and Bank of New York Mellon Corp. told a New York judge Monday that they weren't responsible for the collapse of a complex debt deal that cost a Dutch insurer €62.5 million ($86.2 million).
Two real estate developers on Thursday exited Evanston Insurance Co.'s declaratory judgment suit in Virginia against defendants in the multidistrict litigation over defective Chinese drywall, agreeing to waive their coverage claims with the insurer.
A federal judge on Friday remanded to Texas state court a contract suit over legal fees the Sydow Firm LLP claims Lloyd’s of London and Akin Gump Strauss Hauer & Feld LLP owe it for alleged fraudster Robert Allen Stanford's defense.
Massachusetts Mutual Life Insurance Co. on Friday stepped up its assault on issuers and originators of mortgage-backed securities, suing Credit Suisse Group AG for alleged misrepresentations that led the insurer to invest more than $70 million in the securities.
The Fourth Circuit upheld a decision Friday that Hartford Casualty Insurance Co. had no duty to defend a furniture-maker representative against another company's intellectual property and unfair competition claims concerning trademark rights under a business transfer agreement.
Massachusetts Mutual Life Insurance Co. and its subsidiary Tremont Group Holdings Inc. agreed Friday to settle a class action brought over losses on the insurers' investments with fraudster Bernard L. Madoff for $100 million.
Plaintiffs claiming the Patient Protection and Affordable Care Act's individual insurance mandate violates their religious freedom announced on Friday that they would appeal a federal judge's dismissal of their suit, one of several challenging the health care law's constitutionality.
A Texas appeals court should have considered extrinsic evidence when it ruled National Union Fire Insurance Co. of Pittsburgh, Pa., did not have a duty to defend a railway company, the state's high court said Friday, reversing and remanding the case.
New York state's highest court affirmed the dismissal of two fraud charges Thursday against a former executive of managed care provider Healthfirst, ruling the state's insurance fraud law does not criminalize charges that he submitted false marketing plans to Medicaid.
Oil, gas and other industries with large Middle East operations may find themselves in coverage disputes with their political risk insurers amid a spike in claims caused by mounting political unrest, experts say.
Mining giant Newmont USA Ltd. on Thursday resolved claims against four American International Group Inc. units in a coverage dispute over the cleanup of hazardous substances from a former uranium mine in Washington state.
Risk analysis company Dun & Bradstreet Inc. sued a former employee and rival Equifax Inc. in Illinois federal court Friday, accusing them of breaching a nonsolicitation agreement, taking trade secrets and trying to poach multimillion-dollar client Farmers Insurance Group.
SMS Services LLC sued insurance broker HUB International Northwest LLC on Thursday in Washington state for more than $6 million, alleging HUB negligently reduced the limit for a policy covering an aircraft without notifying the company.
Twin City Fire Insurance Co. asked a Texas federal court Friday to declare that an excess insurance policy kicks in after it spends $2 million to settle lawsuits alleging its insured's faulty highway construction caused car accidents.
New York's highest court Thursday relieved Federal Insurance Co. from coverage of Fieldston Property Owners Association Inc.'s legal costs in two defamation suits, ruling that Hermitage Insurance Co. Inc. was the primary insurer.
A California federal judge on Wednesday conditionally certified a nationwide collective action alleging health insurance company Health Net Inc. uses unlawful timekeeping policies that prevent employees from being paid for all hours worked.