A New York state judge on Friday ruled that MBIA Inc. must turn over all documents pertaining to its interactions with confidential witnesses who bolstered its allegations that Credit Suisse AG affiliates stuffed MBIA-insured securities with shoddy mortgages.
A Florida federal judge granted preliminary approval Friday for a $300 million settlement between a class of homeowners and JPMorgan Chase NA and Assurant Inc. over their forced-place business insurance, which was allegedly over-priced due to kickbacks between insurers and lenders.
The Tenth Circuit ruled Thursday that a Catholic-owned company is temporarily exempt from the Affordable Care Act's birth control coverage mandate, following its earlier ruling that companies aren't required to provide health plans covering contraceptives if doing so would violate their owners' Christian beliefs.
The Washington Supreme Court on Thursday killed a title insurer's malpractice suit against a law firm that had defended the insurer's bank policyholder against a construction company's claims, finding the law firm was shielded from the suit because it had no duty to the insurer.
A New York state judge said Thursday that there are too many disputed factual issues about a 1993 Monsanto Co. environmental settlement for him to decide now if Everest Reinsurance Co. should help American International Group Inc. pay for a later $140 million Monsanto deal.
The main parties in the Oracle Corp. shareholder lawsuit over the software giant's acquisition of Pillar Data Systems Inc. announced a proposed settlement late Wednesday, but the deal hinges on D&O insurer Beazley agreeing to cover $19.9 million in attorneys' fees for the plaintiffs, an idea it has rejected.
Bankrupt construction products purveyor Flintkote Co. on Monday succeeded in pushing Aviva PLC and a British subsidiary into arbitration over more than $20 million in disputed asbestos liability coverage, with a Delaware judge binding Aviva to an arbitration agreement it never signed.
Maryland-based health care and insurance management firm Coventry Health Care Inc. on Wednesday agreed to pay $3.6 million to resolve a proposed class action accusing it of violating the Employee Retirement Income Security Act by concealing severe business setbacks from investors.
Carolina Casualty Insurance Co. has agreed to cough up $12.5 million to Omeros Corp. to settle a coverage dispute arising from False Claims Act litigation brought by the biopharmaceutical company’s former chief financial officer, Omeros said Thursday.
A New Jersey federal judge last week kept alive a Superstorm Sandy victim's claim that an insurance broker misrepresented the level of flood coverage available to the homeowner, refusing to hold that the claim was preempted by the National Flood Insurance Act.
A Louisiana appeals court on Wednesday found that Admiral Insurance Co., Steadfast Insurance Co. and Ace American Insurance do not owe a duty to defend Oracle Oil LLC in pollution litigation, reversing a lower court’s opinion.
A Texas federal court on Friday freed Axis Surplus Insurance Co. from defending a mortgage broker against a nearly $5 million lawsuit over misappropriated investments, finding that the underlying claim stemmed from services that were not insured by a professional liability policy.
State Farm General Insurance Co. incurred no duty to defend a California residential community association until two ousted board members explicitly sought compensation for its alleged dereliction of parking enforcement, a state appeals court ruled Tuesday, saying coverage wasn't triggered by the mere potential for damages.
A New York state judge on Tuesday put U.S. Fire Insurance Co. on the hook for roughly $10 million that affiliates of a family investment office sunk into Bernard L. Madoff's Ponzi scheme, ruling the losses did not fall under a policy exclusion for dishonest securites brokering.
A New York state appeals court ruled Tuesday that a computer insurance fraud policy an American International Group Inc. subsidiary provided to health insurer Universal American Corp. covered hackers but not an $18 million Medicare fraud.
A New York state judge said during a hearing Tuesday he won't recuse himself from the state attorney general's suit against American International Group Inc.'s former CEO and chief financial officer, saying he had no reason to believe he couldn't be impartial.
Insurers do not have a right to pursue subrogation suits against third parties to recover damages paid out as workers’ compensation claims without independent legal action by the injured employee, the Pennsylvania Superior Court ruled on Friday.
A New York federal judge on Wednesday freed an XL Specialty Insurance Co. subsidiary from covering three suits over gas leaks from the city of San Diego's sewage system into homes and properties, ruling that a 2009 state law on late notice didn't touch the city's pollution policy because the policy was issued outside of New York.
A divided Pennsylvania Supreme Court said Thursday that a more deeply developed evidentiary record was needed before it could determine whether a 2009 state law transferring $100 million from a statutorily created malpractice insurance fund violated the due process rights of hospitals and health care practitioners.
The U.S. Court of Federal Claims on Friday said the government waited too long to request an interlocutory appeal of the court's refusal to toss direct shareholder claims against it in Starr International Inc.'s $55.5 billion class action over the bailout of American International Group Inc.
If class action firms advance the regulators’ view that banks may somehow be accountable for deciphering the DNA of every automated clearing house transaction, the strength of compliance management may become as critical to the defense of private litigation as it is to regulatory supervision, say Richard Gottlieb and Valerie Hletko of BuckleySandler LLP.
Although the government shutdown and the debt ceiling crisis are occasionally conflated, they have distinct effects on government operations and on parties interacting and transacting with the government, says Boris Bershteyn, of counsel with Skadden Arps Slate Meagher & Flom LLP and former general counsel of the White House Office of Management and Budget.
For a while, it appeared as though the life insurance industry was willing to accept the Social Security Administration's Death Master File searches as the new normal. Recent events, however, suggest that may not be true as life insurers have vigorously defended against regulators’ claims in court and asserted affirmative claims challenging the regulators’ position, say attorneys with Drinker Biddle & Reath LLP.
While the result in the recent decision of St. Paul Mercury Insurance Co. v. Miller is a noteworthy departure from other decisions ruling that claims brought by the Federal Deposit Insurance Corp. as a receiver do not trigger insured v. insured exclusions, the U.S. District Court for the Northern District of Georgia's opinion is seriously flawed for several reasons, say attorneys with Covington & Burling LLP.
The recent decision in Potomac Insurance Co. of Illinois v. Pennsylvania Manufacturers’ Association Insurance Co., among other things, allows an insurer to provide a vigorous defense for its insured by paying more than its share of defense costs, knowing that it will have a remedy against other, nondefending co-insurers, say Jon Neumann and Natalya Seay of Steptoe & Johnson LLP.
Currently, the government or private plaintiffs can seek to prove violations of the Fair Housing Act by showing either actual disparate treatment or a resulting disparate impact. These are distinctly different standards of liability, and the current lack of clarity on how they may be applied to financial institutions will impact the offering and availability of credit, say attorneys with Dechert LLP.
Practitioners before the Judicial Panel on Multidistrict Litigation should note that the basis for denying or granting MDL motions is not unique to an industry or set of cases. Rather, patterns regarding the denial and grant of MDL motions — such as the recent denial of two new food industry MDL proceedings arising from “All Natural” marketing campaigns — cut across industry lines and have certain common characteristics, says Alan Rothman of Kaye Scholer LLP.
A recent survey of more than 1,000 chief legal officers found that 87 percent of in-house counsel indicated ethics and compliance as one of the leading issues keeping them up at night. Government and regulatory changes followed as a top concern now and in the year ahead. This is not because companies intend on breaking laws — but because the laws vary, make compliance a challenge, says James Merklinger, vice president and general counsel of the Association of Corporate Counsel.
Although it may take some time for the Insurance Services Office's new data breach exclusionary endorsements to make their way into general liability policies, they provide another reason for companies to carefully consider specialty cyber insurance. Even where insurance policies do not contain the newer limitations or exclusions, insurers may argue that cyber risks are not covered under traditional policies, says Robert Anderson of K&L Gates LLP.
The procedural nature of a wrongful death action is fairly simple when all of a decedent’s beneficiaries file the action but may become complicated if any of the beneficiaries are not included. When a defendant knows that a beneficiary has filed to include another known beneficiary, he or she should raise the issue as it will be advantageous for three reasons, say Michael Blumenfeld and Lee Douthitt of Miles & Stockbridge PC.