A California federal judge on Monday overruled objectors and approved Allianz Life Insurance Co. of North America’s $251 million settlement of two racketeering class actions alleging it lured 238,000 seniors into buying poorly performing deferred annuities, ruling the deal is a fair end to the “fierce” litigation.
An Alaska intertribal health care group asked for summary judgment Friday in its suit alleging Premera Blue Cross paid substantially less than the group’s billed charges, arguing that the health insurer failed to show a genuine issue of material fact regarding the charges' reasonableness.
America's Health Insurance Plans, AARP and antitrust advocates urged the Second Circuit on Friday to uphold a preliminary injunction the New York attorney general won against Actavis PLC in a suit accusing the drugmaker of trying to stave off generic competition to its Alzheimer's treatment Namenda.
Partner Reinsurance Europe PLC urged a New York federal court Friday to dismiss all of Amtrak's claims against it in an insurance coverage suit over more than $1 billion in losses tied to Superstorm Sandy, contending that Amtrak can't sue the reinsurer directly because the parties lack privity.
An Ohio federal judge on Monday dismissed a 2008 damages suit brought by an American Financial Group Inc. unit against Amtrak, finding a claim that the railroad improperly gauged the value of shares owed the Cincinnati-based investment firm was brought too late.
A construction company pushing for Hogan Lovells' disqualification from a lawsuit over environmental remediation costs for a former naval shipyard argued Friday that the firm can't prosecute an insurer's counterclaim against it seeking millions of dollars while advising its parent company on multiple sensitive matters.
The New Jersey Supreme Court will review whether the collapse of a house's basement wall resulted from "hidden decay" or another covered cause of loss, in an insurance coverage dispute between the homeowners and Cumberland Mutual Fire Insurance Co.
Two construction firms sued an American International Group Inc. unit in California federal court Friday, accusing it of prematurely harassing them over liability coverage stemming from allegedly botched work in a $250 million Los Angeles International Airport project.
The U.S. Supreme Court on Monday declined to consider an appeal brought by several doctors and doctors’ associations accusing WellPoint Inc. of cheating them out of reimbursements, leaving intact an Eleventh Circuit ruling that any earlier settlement barred the antitrust and racketeering claims.
Senate Finance Committee Chairman Orrin G. Hatch, R-Utah, said Monday he will soon propose a contingency plan to deal with the consequences should the U.S. Supreme Court deem the health insurance tax credits at the core of the Affordable Care Act unauthorized by statute.
Amid a stew of legal uncertainty around the standards for insider trading convictions, the U.S. Supreme Court on Monday denied the bid of a former Ameriprise Financial Services Inc. adviser for reconsideration of his Third Circuit-affirmed conviction.
A California federal judge on Thursday refused to reconsider his ruling that an American International Group Inc. unit is liable for breach of contract and bad faith in an insurance coverage dispute with Fidelity National Financial Inc. over losses and claims tied to a real estate Ponzi scheme.
The Alabama federal judge who found the state’s ban on same-sex marriage unconstitutional declined to order Alabama’s attorney general to try to throw out a separate state Supreme Court case brought by private parties seeking to reinstate the ban, saying the already-married federal suit plaintiffs couldn’t show harm.
Hulcher Services Inc. asked a Texas federal court on Friday to find that its insurer breached its policy by refusing to pay $2 million out of a $3 million judgment for an employee's injury, saying a cross suit exclusion doesn’t apply because the company against which the judgment was rendered is not an additional insured.
American International Group Inc. shareholder Starr International Co. Inc. and the federal government tussled again Thursday over the terms of AIG’s 2008 bailout, arguing variously that the bailout was either an unconstitutional $40 billion taking, or that it protected the insurance giant from a “wealth-destroying” bankruptcy.
A federal judge reaffirmed New York on Friday as the proper venue for Scopia Capital Management LLC’s quest to collect insurance coverage of a $23 million dispute with guar bean farmers in Oklahoma and Texas who forced a Scopia-owned processing plant into bankruptcy.
The Centers for Medicare & Medicaid Services said Friday that it had issued a final rule that outlines how Affordable Care Act insurance plans will be regulated in 2016 and sets the annual open enrollment period for next year.
The Centers for Medicare and Medicaid Services on Friday described its intention to demand better quality and value from Medicare Advantage insurance plans, building on recent reforms introduced in traditional Medicare.
The Illinois Supreme Court ruled Friday that Illinois State Bar Association Mutual Insurance Co. can rescind the entire malpractice policy for a Chicago-area law firm despite the fact that one of the firm's lawyers was unaware that his partner made a material misrepresentation on the renewal application.
Several companies named in a proposed class action accusing them of scheming to require mortgage customers to buy force-placed insurance and taking kickbacks from insurers asked a New York federal court on Friday to dismiss claims against them, arguing they were wrongfully included in the litigation.
After the Minnesota Supreme Court's recent ruling in Cedar Bluff Townhouse Condominium Association v. American Family Mutual Insurance Co., to avoid having an appraisal panel decide issues of coverage, which are still subject to later judicial review, parties need to resolve coverage issues before submitting disputes to appraisal, says Scott Johnson of Robins Kaplan LLP.
We trust our law firms with huge amounts of data, whether in or out of discovery, investigations or litigation. All too often, we have relied on privilege, confidentiality and attorney ethics as a proxy for data protection and information security. But in fact, law firms ought to be held to a much more stringent standard — and in-house counsel would be wise to begin with a number of specific inquiries, says legal industry consultan... (continued)
In seeking comment on potential risks to the U.S. financial system created by asset managers including investment advisers, insurance companies and private funds, the Financial Stability Oversight Council again places these institutions in its crosshairs, but the FSOC’s latest effort to explore the issue through crowdsourcing should not be ignored, say Jay Baris and Oliver Ireland of Morrison & Foerster LLP.
As recent case law demonstrates, attempts to use the power to indemnify directors and officers as a strategic weapon against minority shareholders may backfire, causing the corporation to pay legal fees for all combatants. Meanwhile, practitioners who believe they understand the New York rules on indemnification may be startled by how much of this area is controlled by statute, say Richard Janvey and Joan Secofsky of Diamond McCarthy LLP.
Recent interviews with law departments in eight companies — ranging from $600 million to $70 billion in annual revenue, and spanning the financial services, telecommunications, hospitality, software and discrete manufacturing industries — reveals that e-billing and "spend management solutions" offer some of the clearer business cases for technology investment by an organization’s legal department, says David Houlihan of Blue Hill Research Inc.
The Wisconsin Supreme Court's ruling in Wilson Mutual Insurance Co. v. Falk, which holds that manure contaminating a well is a “pollutant” and is not covered under a farm's general liability insurance policy, should prompt policyholders to understand how a policy defines pollutant. The case may be informative in states that have yet to hear a similar case, say attorneys at Michael Best & Friedrich LLP.
A recent Law360 guest article suggests a number of reasons why civil authority coverage will not be implicated by local fracking bans. The article does not, however, fully address three important issues that will impact the question of whether civil authority coverage is, in fact, triggered, say attorneys with Hunton & Williams LLP.
A recent Law360 guest article on the Pennsylvania Supreme Court’s decision in Pennsylvania National Mutual Casualty Insurance Co. v. St. John suggests that the state's law has suddenly traveled backward in time, to a decade when the “manifestation” trigger was still considered a viable insurance coverage theory. But that “Back to the Future” reading of St. John may be a fantasy, says Suzan Charlton of Covington & Burling LLP.
If the important New York insurance cases of 2014 are any indication, 2015 will likely be fraught with actions tackling ongoing insurance trends, particularly in the areas of coverage for data breaches and broker liability, say attorneys at Anderson Kill PC.
As health care providers and payers consolidate and take advantage of new opportunities brought about by the Affordable Care Act and health care reform, both payers and providers face new health care fraud and abuse and antitrust risks that are different from the ones they previously confronted, say Troy Barsky and Katherine Funk of Crowell & Moring LLP.