Insurance

  • March 16, 2011

    11th Circ. Nixes St. Paul Win In Bank's Bond Suit

    The Eleventh Circuit on Wednesday overturned a judgment in favor of St. Paul Mercury Insurance Co. in a coverage dispute over a bank's loss after the default of a loan that was secured by a forged guaranty.

  • March 16, 2011

    Attys Skimmed $1M From Genocide Deals, Suit Claims

    Two attorneys filed a breach of contract suit in California on Friday, accusing their co-counsel in two class actions over unpaid life insurance policies to Armenian Genocide victims of skimming $1 million from settlements.

  • March 16, 2011

    NY Assembly Challenges Cuomo's Malpractice Cap

    The New York State Assembly on Tuesday rejected Gov. Andrew Cuomo's proposal to cap noneconomic damages in medical malpractice suits at $250,000, setting up a showdown between the two government branches as final 2011-2012 budget negotiations begin.

  • March 16, 2011

    Obama Accused Of Passing Health Law Regs In Secret

    Sen. Orrin Hatch, R-Utah, on Wednesday released a report from the Library of Congress that he said revealed the Obama administration was circumventing the public rulemaking process in order to enact the health care overhaul.

  • March 15, 2011

    FDIC Sets Up Clawback Rules For Failed Bank Execs

    The Federal Deposit Insurance Corp. on Tuesday set out guidelines for bank regulators to claw back money from top executives at failed banks as part of a proposed rule clarifying wind-down procedures for so-called too-big-to-fail financial institutions.

  • March 15, 2011

    7th Circ. Revives Auxiant ERISA Action

    The Seventh Circuit on Tuesday found that a lower court erred in dismissing a putative class action accusing Medical Benefits Administrators Group Inc., also known as Auxiant, of routinely denying claims for preauthorized medical procedures.

  • March 15, 2011

    9/11 Plaintiffs' Firm Must Work With Other Atty: Judge

    The federal judge handling a $713 million settlement between ailing ground zero workers and New York City and its insurers insisted Friday that 59 plaintiffs ineligible for the settlement be represented by the special counsel he appointed.

  • March 15, 2011

    Construction Co. Sued For OT On Public Projects

    Workers hit M.A. Angeliades Inc. and its insurer with a class action Monday, accusing the construction company of failing to pay them overtime for projects under contracts with New York state agencies.

  • March 15, 2011

    AIG Seeks Quick Win In Ex-Real Estate Head's Suit

    American International Group Inc. asked a New York federal court Monday for partial summary judgment on four contract and fiduciary duty claims in a suit brought by the former head of its real estate arm alleging breach of an employment agreement.

  • March 14, 2011

    DOJ Contests Va. Health Care Law Appeal

    The U.S. Department of Justice said Monday that Virginia's appeal of its challenge to the Patient Protection and Affordable Care Act should not be allowed to leapfrog the Fourth Circuit to the U.S. Supreme Court.

  • March 14, 2011

    Insurers Likely To Avoid Japanese Nuclear Claims

    As Japan races to prevent nuclear disaster in the wake of a devastating earthquake and tsunami on Friday, insurers say they likely won't have to pay any claims related to a reactor meltdown. But that could change if claims hit U.S. courts, according to observers.

  • March 14, 2011

    Pa. Action Over Dead Health Care Plan Targets Pols

    Pennsylvania Gov. Tom Corbett and other state legislators were hit with a proposed class action Monday alleging that they violated the 2001 Tobacco Settlement Act by doing away with the adultBasic health care plan for low income workers.

  • March 14, 2011

    Trustee, Insurers Attack Asbestos Firms' Fees Bid

    A U.S. trustee and certain insurers are objecting to an attempt by two asbestos plaintiffs firms to take home at least $7 million in contribution money for their work on the Thorpe Insulation Co. bankruptcy.

  • March 14, 2011

    Former NY Regulators Slam Approval Of MBIA Split

    Four former New York state insurance superintendents testified Sunday that they would not have approved the restructuring of MBIA Inc. that split the bond insurer into two companies, saying the transaction unfairly enriched company executives and shareholders at policyholders' expense.

  • March 14, 2011

    Jenner & Block Lands Dickstein Insurance Atty

    Jenner & Block LLP announced Thursday that it was adding insurance litigator Linda D. Kornfeld to the roster at the firm's Los Angeles office, where she will reunite with former Dickstein Shapiro LLP colleague Jerry Oshinsky.

  • March 14, 2011

    2nd Circ. Nixes Insurer’s Appeal Of Spill Coverage

    A federal appeals court on Monday dismissed a pollution insurer’s appeal for lack of jurisdiction in a dispute over coverage for a $130 million American Commercial Lines Inc. oil spill.

  • March 14, 2011

    Champion Seeks Quick Win In PCB Cleanup Suit

    Champion Environmental Services Inc. on Friday sought summary judgment in a manufacturer's contract suit against the company and its insurer related to PCB contamination at an industrial site in Wisconsin.

  • March 11, 2011

    Wis. Insurance Co. CEO To Admit To Fraud

    The former CEO of Wisconsin's Manson Insurance will plead guilty to defrauding a bank with phony financial documents, according to a plea bargain filed Friday.

  • March 11, 2011

    11th Circ. Fast-Tracks Health Care Reform Fight

    The Eleventh Circuit decided Friday to speed up the appeal of a Florida federal judge's ruling that struck down the entire health care reform law as unconstitutional because it requires individuals to buy health insurance or pay a penalty.

  • March 11, 2011

    2nd Circ. Kills B&L Indemnity Bid, Not Defense Claim

    The Second Circuit shot down Bausch & Lomb Inc.'s argument Friday that Lexington Insurance Co. has a duty to indemnify it against suits over infections linked to ReNu MoistureLoc contact lens solution, while reviving the company's bid for defense cost coverage.