Insurance

  • August 16, 2016

    Insurer Says Independent Adjuster's Mistake Cost It $1.25M

    Evanston Insurance Co. sued independent adjuster William Kramer & Associates LLC claiming the adjuster failed to tell Evanston of a loan on a Florida apartment complex it insured, a mistake the insurer says cost it $1.25 million in legal fees after the mortgagee sued Evanston for breach of contract.

  • August 16, 2016

    Hotel, Insurers Drop Claims Over Cybersecurity Policy

    A Louisiana hotel has agreed to drop claims over an allegedly deficient cybersecurity insurance policy issued through underwriters at Lloyd’s of London, while an insurance agent that helped secure the policy tossed its third-party complaint against a wholesale insurance broker, according to a Tuesday federal court filing.

  • August 16, 2016

    Insurers Must Split $4M Ladder Injury Deal, 5th Circ. Affirms

    A pair of excess insurers must both contribute coverage for a $4 million chunk of a general contractor's settlement payment to resolve a lawsuit filed by a building inspector who was paralyzed after falling from a ladder at a construction site, the Fifth Circuit affirmed Tuesday.

  • August 16, 2016

    Pesticide Co. Tells 9th Circ. Insurers On Hook In TM Row

    A pesticide company asked the Ninth Circuit Monday to reverse an Oregon federal court's decision that Crum & Forster Specialty Insurance Co. and two others aren’t liable for coverage in a suit over use of a business partner’s trademark, saying the court used an impossible and impermissible legal standard.

  • August 16, 2016

    Insurer, Shipping Co. Duel Over NJ Justices' Policy Ruling

    Travelers Insurance and USA Container, in their Third Circuit battle over coverage of underlying damage to a corn syrup shipment, both fought Monday for a favorable interpretation of the New Jersey Supreme Court’s recent conclusion that damage resulting from a subcontractor’s defective work can be covered.

  • August 16, 2016

    Insurer Needn't Cover Dentists For Fake Yelp Review Suit

    A Texas federal judge held Tuesday that National Surety Corp. isn’t required to provide coverage for claims against two married dentists stemming from a phony Yelp review the wife left about a competing dentist, accusing him of being unprofessional and providing terrible care.

  • August 16, 2016

    SEC Fines Another Co. Over Anti-Whistleblower Agreements

    The U.S. Securities and Exchange Commission continues to scrutinize employment agreements that restrict whistleblowers, issuing its second fine in as many weeks on Tuesday to a health insurer whose severance agreements allegedly limited former employees’ rights to whistleblower bounties.

  • August 16, 2016

    Horace Mann Tells 7th Circ. AIG Unit Must Cover $6M Payment

    Horace Mann Insurance Co. told the Seventh Circuit on Tuesday that AIG subsidiary Lexington Insurance Co. should be required to cover $6 million of its settlement to resolve a dispute involving an auto accident, asserting that contrary to a lower court's findings, it promptly notified Lexington of the underlying claim. 

  • August 16, 2016

    AIG, CVS Will Pay $310M To Settle Investors' Fraud Suit

    An Alabama judge on Tuesday approved a $310 million settlement between American International Group Inc., CVS Health Corp. and a class of investors who claimed Caremark Rx and the insurer defrauded investors when settling securities-fraud lawsuits in 1998.

  • August 16, 2016

    ACLU Says Transgender Surgery Denial Is Title VII Bias

    The American Civil Liberties Union has told a California federal court that hospital giant Dignity Health's categorical exclusion of insurance coverage for an employee's sex transformation surgery amounts to discrimination under Title VII.

  • August 16, 2016

    MetLife Tells D.C. Circuit It’s Not Systemically Important

    MetLife is urging the D.C. Circuit to uphold a lower court's ruling axing its designation as a systemically important financial institution whose collapse could threaten the U.S. economy, arguing that federal regulators arbitrarily deviated from their own standards in slapping the life insurer with the tag.

  • August 16, 2016

    Arch Seeks Brazilian Insurance Regulator's Aid In Lilly Row

    The best way to determine whether Arch Specialty Insurance could even legally offer coverage of Eli Lilly’s Brazilian entity for lawsuits over contamination at a former Lilly plant near Sao Paulo is to ask Brazil’s insurance regulator directly, the insurer told an Indiana federal judge Monday.

  • August 15, 2016

    Aetna Ditches Most ACA Plans In Blow To Health Law

    Aetna Inc. on Monday said that heavy financial losses will force it to abandon 11 of 15 Affordable Care Act marketplaces in which it participates, adding to fast-rising concerns about the ACA’s future.

  • August 15, 2016

    Homeowners Can't Challenge Insurance Rates, Court Hears

    American Modern Insurance Group Inc. urged a New Jersey federal judge Monday to dismiss a class action complaint alleging it conspired with a home mortgage servicer in a kickback scheme profiting from so-called force-placed hazard policies, arguing that homeowners can't challenge its rates because they have been approved by state regulators.

  • August 15, 2016

    Insurer Beats Bid For Coverage Of Atty Defamation Battle

    Sentinel Insurance Co. doesn't have to defend or indemnify a Chicago-area law firm against defamation claims brought by the founding partners' former colleagues, an Illinois federal judge ruled Monday, holding that the insurer's coverage obligations were negated because the firm didn't provide timely notice of the claims.

  • August 15, 2016

    Holland & Knight Adds Maritime, Energy Pro From Gray Reed

    Holland & Knight announced Thursday that it snagged a maritime and energy attorney away from Gray Reed & McGraw PC, where she was a shareholder, and will be joining its Houston office as a partner.

  • August 15, 2016

    AIG Inks $3.4B Sale Of Private Mortgage Insurance Unit

    AIG inked a $3.4 billion sale on Monday of its private mortgage insurance unit to fellow insurer Arch Capital as the New York-based company pushes forward with plans to narrow its focus and return capital to shareholders amid pressure from activist investor Carl Icahn.

  • August 15, 2016

    Express Scripts Investor Demands Look At Books, Records

    An investor in pharmacy services firm Express Scripts Inc. demanded an inspection of the company’s books and records on Friday, saying in his Delaware Chancery Court complaint that he thinks the company’s directors might have misrepresented its relationship with one of its biggest clients.

  • August 15, 2016

    Blue Cross Can't Beat Verdict In $26M Suit, Court Hears

    Encompass Office Solutions Inc. blasted Blue Cross Blue Shield of Louisiana’s request for judgment in its favor or a new trial after a jury found for the surgical services provider in a $26 million contract suit, arguing Friday that the insurer failed to show the verdict should be set aside.

  • August 15, 2016

    UK Won't Enforce Moroccan Order Over Rotten Bran Shipment

    A cargo shipper engaged in a complex dispute with insurers over a rotten wheat bran shipment successfully convinced an English court Monday to disregard a Moroccan court ruling against it, but could still be on the hook for the cargo depending on how other proceedings shake out.

Expert Analysis

  • Va. District Court Shelters Insurers From Attys' Prior Acts

    Gary P. Seligman

    A Virginia district court recently enforced the validity of prior acts dates in legal malpractice policies by looking to the acts that gave rise to the liability, rather than to acts continuing the attorney-client relationship after the client’s cause of action had already accrued, say Gary Seligman and Laura Lee Miller at Wiley Rein LLP.

  • As Science Evolves, So Must Political Risk Insurance

    Zachary N. Lerner

    In recent years, traditional political risk insurance coverage has proved insufficient to address the increasing needs and specific risk factors of life sciences companies, giving surplus lines insurance markets the opportunity to craft new and unique forms of coverage, says Zachary Lerner at Locke Lord LLP.

  • NY's Latest Position On Unauthorized Insurance Co. Taxation

    Andrew D. Appleby

    The New York State Department of Taxation and Finance recently issued two advisory opinions determining that unauthorized nonlife insurance corporations are subject to insurance franchise tax instead of premium tax, a position that is arguably improper, says Andrew Appleby of Sutherland Asbill & Brennan LLP.

  • Can Courts Review The Sandy Claims Review Process?

    Douglas J. Pepe

    While the statute of limitations has run for policyholders who want to litigate their initial Sandy insurance claim determinations, the unique nature of the failed Sandy claims review process may have reset the clock for legal redress in the courts, says Douglas Pepe at Joseph Hage Aaronson LLC.

  • 3 Ways To Make Reinsurance Arbitrations Faster And Cheaper

    Samantha A. Krasner

    There is no single, perfect solution for reducing the length and expense of reinsurance arbitration proceedings, but there are a number of ways that parties to an arbitration can save both time and money, while still achieving a thoughtful resolution, says Samantha Krasner at Choate Hall & Stewart LLP.

  • Insurance Benefits Should Be Part Of Damages Review

    Michael S. Gehrt

    Insurers often assert that policy benefits recovered by the insured should not be considered when reviewing a possible disparity between the actual harm suffered by the insured and the punitive damages awarded by the jury. In most circumstances, however, this assertion is contrary to California law, says Michael Gehrt at Liner LLP.

  • How To Close A Law Firm — Practically And Ethically

    Janis M. Meyer

    Winding down a law firm is at best stressful, at worst excruciatingly painful, and often carried out as if it were an emergency, rendering the process even more difficult. There are certain common steps that should be on the firm's radar from the moment the decision to dissolve is made, says Janis Meyer, a partner with Hinshaw & Culbertson LLP who helped oversee Dewey & LeBoeuf's 2012 bankruptcy filing and the subsequent wind-down of the firm.

  • When Oil Prices Drop, Make Sure Your Insurance Tank Is Full

    Allen R. Wolff

    Tumult in the energy industry could have long-lasting implications for oil patch companies, especially their officers and directors. As shareholder discontent rises, so will the potential for coverage under directors and officers liability policies, say Allen Wolff and John Leonard at Anderson Kill PC.

  • Evolving Insurance Coverage For Nanotechnology Risks

    Marialuisa Gallozzi

    Although nanomaterials and nanotechnology are proliferating across traditional manufacturing, medical technology and defense fields, the management of associated risks has lagged behind, say Marialuisa Gallozzi and Charles Fischette at Covington & Burling LLP.

  • The Smart Money Is Not Following Traditional Law Firms

    MarkACohen.jpg

    A recent survey by Deloitte shines a light on where legal delivery is headed. Demand for services is robust, but satisfaction with the incumbent delivery model is low. This disconnect underscores the opportunity for disruption, says Mark A. Cohen, founder of Legal Mosaic LLC.