InsuranceRSS

  • February 11, 2010

    Gas Co. Made Fraudulent Transfer To Ex-CEO: 5th Circ.

    A federal appeals court has affirmed two decisions in the case of twice-bankrupt TransTexas Gas Corp., saying a lower court was right to rule that a former CEO’s severance payments were fraudulent transfers and that National Union Fire Insurance Co. of Pittsburgh, Pa., did not have to cover the payments.

  • February 11, 2010

    Hartford Faces Class Cert. In Cell Phone Policy Suit

    A T-Mobile USA Inc. customer who claims the Hartford Financial Services Group overcharged her for cell phone insurance has moved to certify a class of up to hundreds of thousands of fellow subscribers.

  • February 11, 2010

    United Insurers Dodge $400M In Settlement Claims

    UnitedHealth Group Inc.'s liability insurers are off the hook for most of the $400 million in settlements stemming from United's alleged underpayments to plan members, a federal judge has said.

  • February 11, 2010

    State Farm Wants Out Of Legal Directory Defense

    State Farm Fire and Casualty Co. has slapped The General Bar Inc. with a declaratory judgment action seeking to avoid responsibility for defending the legal directory against the claims of a financial services firm that was bilked out of more than $1.2 million by a law firm General Bar recommended.

  • February 11, 2010

    Broker Group To Challenge New NY Disclosure Rule

    An insurance producer trade group said it plans to take legal action to halt a New York state regulation requiring brokers to disclose to consumers whether they are getting paid for selling certain insurance products.

  • February 11, 2010

    Ex-Hartford Analyst Takes Deal For Insider Trading

    A former Hartford Investment Management Co. financial analyst consented to a permanent injunction and agreed to pay a fine in a U.S. Securities and Exchange Commission case over alleged insider trading related to Liberty Mutual Insurance Co.'s acquisition of Safeco Corp.

  • February 10, 2010

    Construction Cos. Take Beef With Insurer To 4th Circ.

    Two construction companies left with little to show for their duty to defend litigation against General Casualty Co. of Wisconsin are appealing a decision denying them punitive damages, just months after a judge slashed $3 million from the jury's damage award in their favor.

  • February 10, 2010

    Airlines, Insurers Want 9/11 Deal Terms Kept Secret

    Insurers for Ground Zero businesses and the airlines they sued for property damage stemming from the Sept. 11 terrorist attacks have asked a federal court to keep secret the total amount of their pending settlement agreement.

  • February 10, 2010

    Calif. Insurance Chief Pressures Cos. With Iran Ties

    California Insurance Commissioner Steve Poizner on Wednesday released a list of 50 foreign firms conducting business in Iran's energy and defense sectors, warning that as of March 31, no statement credit would be given in California for investments in companies named on the list.

  • February 10, 2010

    9th Circ. Remands AIG Fraud Fight Over Asset Sale

    A federal appellate court has largely reversed and remanded a lower court's decision to dismiss AIG Retirement Services Inc.'s lawsuit accusing Artemis Finance SNC, Credit Lyonnais SA and others of fraud in the purchase of the assets of Executive Life Insurance Co.

  • February 10, 2010

    Verizon, MetLife Off Hook In 9/11 Disability ERISA Suit

    A federal judge has dismissed Verizon Communications Inc. and Metropolitan Life Insurance Co. from an engineer's case alleging his disability benefits were improperly reduced after he was diagnosed with post-traumatic stress disorder related to the Sept. 11 attacks.

  • February 10, 2010

    Subpoena Nixed In Suit Over $30M Cruise Outbreak

    A Continental Insurance Co. claims handler does not have to testify in a suit that alleges the insurer owes coverage to a water treatment company that had to pay out $30 million following a fatal outbreak of Legionnaires' disease on a cruise ship, a judge has ruled.

  • February 10, 2010

    Legislators Seek Insurers' Data On Toyota Claims

    The House Committee on Energy and Commerce has stepped up its probe of Toyota Motor Corp. customers' reports of unintended acceleration, asking five auto insurers if they had received and alerted transportation regulators to similar "persistent" complaints of the problem.

  • February 10, 2010

    House Panel To Probe Anthem Blue Cross Rate Hike

    A U.S. House of Representatives subcommittee has launched an inquiry into Anthem Blue Cross and Blue Shield's recent proposal to raise health insurance premiums for California customers as much as 39 percent.

  • February 10, 2010

    Ex-Snell & Wilmer Partner Settles Cocaine Disability Suit

    Unum Life Insurance Co. of America and a former Snell & Wilmer LLP partner who sued the insurer and the law firm's benefit plan after seeking treatment for cocaine addiction have reached a deal to end their disability benefits dispute.

  • February 10, 2010

    Blank Rome Snags Corporate Litigation Partner

    Blank Rome LLP has expanded its corporate litigation practice by snagging an insurance and environmental law specialist from Robertson Freilich Bruno & Cohen LLC.

  • February 10, 2010

    Liberty Gets A Crack At $12M SEC, Gen Re Deal

    A federal judge has allowed Liberty Mutual Insurance Co. to intervene in the U.S. Securities and Exchange Commission’s settled $12.2 million fraud enforcement action against General Re Corp., to give Liberty a chance to take a bite out of the settlement as an alleged victim of the fraud.

  • February 10, 2010

    Noteholders Object To AmTrust Sale To Novak

    A proposed move by bankrupt financial holding company AmTrust Financial Corp. to sell its property and casualty business to Novak Insurance Agency Inc. has drawn opposition from a group of noteholders.

  • February 9, 2010

    Plaintiffs Ask Court To Revisit Neurontin Ruling

    A group of plaintiffs has urged a federal court to reconsider a ruling that threw out Guardian Life Insurance Co. and Aetna Inc.’s claims in multidistrict litigation accusing Pfizer Inc. of improperly marketing anti-epilepsy drug Neurontin for off-label uses.

  • February 9, 2010

    Rohm & Haas Bests Insurer's Bid For Reimbursement

    A federal judge has dismissed an insurer's claims for reimbursement from Rohm and Haas Co. and Morton International Inc. for defense and settlement costs stemming from four separate lawsuits over asbestos and chemical exposure and an allegedly tainted landfill.