Insurance

  • August 14, 2013

    Ex-Insurance Exec Gets Probation For Insider Trading

    A Colorado federal judge sentenced a former insurance executive to five years' probation Wednesday for his role in an insider trading scheme involving Delta Petroleum Corp. securities even though prosecutors wanted him locked up for a year.

  • August 14, 2013

    Lawrence Graham Adds London Finance, Insurance Partners

    Lawrence Graham LLP has picked up two new partners for its London headquarters, hiring a real estate financing specialist with experience guiding both banks and borrowers and an up-and-coming insurance coverage litigator, the firm announced Sunday.

  • August 14, 2013

    Pa. High Court Won't Touch Consumer Law Jury Trial Row

    A Pennsylvania appellate court ruling that the state’s consumer protection statute does not give an automatic right to a jury trial will stand, this after the Supreme Court announced Wednesday it would not hear an appeal in a case stemming from an insurance dispute.

  • August 14, 2013

    Apollo Unit Vows To Protect NY Aviva Life Customers

    Investment management giant Apollo Global Management LLC has agreed to heightened policyholder protections, including the implementation of stronger capital standards to protect against insolvency, as part of its plan to acquire Aviva Life and Annuity Co. of New York, state Department of Financial Services regulators said Wednesday.

  • August 14, 2013

    NJ Appeals Court Frees Zurich From Asbestos Cleanup Claim

    A New Jersey appeals court on Wednesday sided with Zurich American Insurance Co. in its coverage fight with a school district over an asbestos cleanup, calling the district's arguments "far-fetched."

  • August 14, 2013

    Photocopier Mishap Leads Insurer To Ink $1.2M HIPAA Deal

    New York insurer Affinity Health Plan will pay $1.2 million to resolve allegations it breached the Health Insurance Portability and Accountability Act by returning leased photocopiers without scrubbing their hard drives of protected data involving 345,000 patients, federal regulators said Wednesday.

  • August 14, 2013

    Health Insurer Again Evades TCPA Suit Over Jobs Calls

    A California federal judge dismissed a putative class action on Tuesday against United American Insurance Co. that alleged its prerecorded telephone calls advertising job openings violated the Telephone Consumer Protection Act, ruling the plaintiff had failed to state an actionable claim.

  • August 14, 2013

    Consumer Group Wants Insurers Forced To Cover Autism Care

    Nonprofit consumer group Consumer Watchdog urged a California appellate court Wednesday to revive a lawsuit seeking to force insurers to pay for an autism treatment, arguing that a trial court erroneously ruled that patients may only receive coverage if a state-licensed therapist administered the treatment.

  • August 14, 2013

    DOD Will Offer Same-Sex Spouses Benefits By September

    The U.S. Department of Defense announced Wednesday that it will extend benefits to same-sex spouses of uniformed service members and DOD civilian employees, with coverage beginning in September.

  • August 14, 2013

    St. Paul Settles Coverage Fight Over Toxic Waste Case

    St. Paul Fire and Marine Insurance Co. and oil and gas waste transporter Bear Productions Inc. on Tuesday settled a coverage dispute related to a proposed class action alleging Bear polluted soil and water in Oklahoma with toxic waste from its operations.

  • August 13, 2013

    Texas Wind Insurance Pool Votes To Hike Premiums

    Leaders at Texas’ coastal windstorm insurance pool voted Tuesday to raise premium rates charged to consumers by 5 percent while narrowly rejecting a proposal to restore the association’s strained coffers through a $575 million assessment against member insurance companies.

  • August 13, 2013

    BofA, Countrywide Settle Remnants Of RICO Class Action

    Bank of America Corp. and its Countrywide Financial unit have reached a deal resolving what remained of a racketeering class action brought by a married couple who claimed they were deceived into taking out a subprime loan that ultimately dragged their house into foreclosure, according to court documents filed Tuesday in California federal court.

  • August 13, 2013

    Apt. Owner Sues Over Coverage For $7.5M In Ike Damage

    A Houston apartment owner on Monday hit Commercial Insurance Solutions Group LP and Southwest Risk LP with a lawsuit alleging the insurers misled it into believing it had full coverage for its properties and was then stiffed for repair costs after Hurricane Ike in 2008.

  • August 13, 2013

    Hawaii's Fix For Construction Defect Coverage Falls Short

    In a drastic step, the Hawaii Legislature passed a law in 2011 to override an appeals court ruling that jeopardized insurance coverage for construction defects. But far from achieving its goal of providing certainty to builders, the statute has further muddled the litigation landscape, experts say.

  • August 13, 2013

    UPMC Blasts Highmark's Jurisdiction Claims In Deal Dispute

    The University of Pittsburgh Medical Center on Monday urged a Pennsylvania federal court to enforce a settlement obligating Highmark Inc. to drop antitrust claims against the hospital system after completing an affiliation deal with a UPMC rival, saying Highmark had wrongly claimed that the court lacks jurisdiction.

  • August 13, 2013

    Domino's Founder Should Cover Birth Control, 6th Circ. Told

    The National Health Law Program and other nonprofit organizations on Tuesday urged the Sixth Circuit to reverse a ruling exempting the founder of Domino's Pizza from implementing the Affordable Care Act's contraception mandate at an office complex he owns, saying access to contraception is critical to women's health.

  • August 13, 2013

    Mass. High Court Sends Investment Fraud Suit To Arbitration

    The Massachusetts Supreme Court on Monday ordered a suit brought by a woman who claims she was duped by an LPL Financial LLC broker into investing in an unsuitable life insurance policy into arbitration, saying federal law governs the enforceability of an arbitration provision.

  • August 13, 2013

    Texas Atty Faces 42 Counts Of Health Care Theft, Fraud

    A Texas attorney has been indicted on charges that he ran a Ponzi-like scheme that scammed insurance plan managers and their clients out of millions intended for stop-loss insurance for health care benefit programs, instead spending the money on credit card and mortgage payments.

  • August 13, 2013

    Miami Airport Contractors Can't Extinguish Fuel-Fire Suit

    A Florida judge on Monday denied a construction company's bid to dismiss a negligence suit over a March 2011 fire in Miami International Airport's fuel storage system, saying an earlier settlement agreement didn't clearly bar the current claims.

  • August 13, 2013

    IRS Issues Final ACA Taxpayer Data-Sharing Rule

    The Internal Revenue Service on Monday finalized its regulations for the disclosure of personal tax information used to determine eligibility for health insurance subsidies under the Affordable Care Act, making only minor tweaks to its initial proposal despite growing lawmaker concerns over how the government will protect such data.