Insurance RSS

  • June 25, 2010

    Bally Loses Bid For Excess Coverage Of Legal Fees

    A federal judge has granted summary judgment to Ace American Insurance Co. and Fireman's Fund Insurance Co., dismissing them from a case over who should pay the $33 million in legal fees racked up by Bally Total Fitness Holding Corp. during suits alleging accounting fraud at the company.

  • June 25, 2010

    2nd Circ. Backs Insurer In Arbitration Panel Spat

    An arbitrator's resignation from an arbitration panel does not necessitate convening a whole new panel, a federal appeals court has ruled, rejecting two reinsurers' bid for a new panel in their dispute with Public Service Mutual Insurance Co. over coverage for pollution claims.

  • June 25, 2010

    Quarles Moves To Nix Contract, Process Abuse Claims

    Quarles & Brady LLP and two of its attorneys have moved to dismiss tortious interference and abuse of process claims that a short-term lender brought against them, another law firm and two title insurers in a dispute over a loan for an apartment-to-condominium conversion project.

  • June 25, 2010

    AIG, Others Face New Phoenix Suit Over Marketing IP

    American International Group Inc. and Huntington National Bank are among Phoenix Licensing LLC's latest targets as it continues its patent infringement crusade against insurers and financial institutions over marketing technology.

  • June 25, 2010

    Sens. Press DOJ For Deputy AG Nominee's AIG Files

    Republican senators are continuing to grill deputy attorney general nominee James Cole about his relationship with American International Group Inc. and are now seeking access to confidential records detailing his role as the bailed-out insurer’s independent monitor.

  • June 25, 2010

    Finance Reform Deal Emerges From Marathon Talks

    Negotiators from the U.S. House of Representatives and Senate announced early Friday that they had finished hashing out differences between their versions of financial regulatory reform legislation, sending the sweeping final bill back to both chambers for a final up-or-down vote before the end of July.

  • June 24, 2010

    Akin Gump Advises Goldman In Weinstein Debt Deal

    The Weinstein Co. reportedly has worked out a significant debt restructuring that entails handing over its library of more than 200 films to Goldman Sachs Group Inc. and insurer Assured Guaranty Ltd.

  • June 24, 2010

    Ohio Farmers Retirees Win Class Cert. In ERISA Suit

    A federal judge has granted a bid for class certification in a suit brought by two former employees at Ohio Farmers Insurance Co. who alleged the insurer got them to retire early by promising them lifetime benefits but then failed to deliver.

  • June 24, 2010

    ASG Sues Zurich For Coverage Of Fraud Suits

    America Service Group Inc. has taken Zurich American Insurance Co. to court to obtain coverage for losses racked up in shareholder and derivative lawsuits, including a $10.5 million class action settlement.

  • June 24, 2010

    Norton Rose Reps AXA In $4.1B Resolution Deal

    British buyout vehicle Resolution Ltd. has announced its plan to pick up French insurer AXA SA’s life and savings businesses in the U.K. in a $4.1 billion deal.

  • June 24, 2010

    Chubb CERCLA Suit Against Ford, Chevron Tossed Again

    A federal judge has again dismissed a $2.4 million environmental cleanup suit brought by Chubb Custom Insurance Co. against Ford Motor Co., Sun Microsystems Inc. and Chevron Corp., ruling that the insurer's complaint is still not adequate.

  • June 24, 2010

    Ironshore Wants Rothstein Investor's Policy Nixed

    Ironshore Indemnity Inc. is asking a Florida federal court to rescind an excess insurance policy issued to Banyon Capital LLC, a hedge fund with alleged ties to convicted Ponzi schemer Scott W. Rothstein, just a week after another court tossed a similar case for failure to state a controversy.

  • June 23, 2010

    Fed. Circ. Nixes $13M Lincoln National Patent Award

    A federal appeals court has reversed a significant ruling relating to business method patents, finding that Transamerica Life Insurance Co. did not infringe a Lincoln National Life Insurance Co. system and sending the dispute back to district court with directions to vacate a $13 million jury award.

  • June 23, 2010

    NJ County Compels Insurer To Bring 'Fronting' Witness

    A magistrate judge has ordered State National Insurance Co. to produce an insurance expert for deposition in its suit against Camden County, N.J., over coverage for a legal defense team that lost a $19.5 million verdict in a personal injury case.

  • June 23, 2010

    House Passes Extension For Flood Insurance Program

    The U.S. House of Representatives has approved a short-term extension to the National Flood Insurance Program, leaving the fate of the lapsed program in the hands of the Senate.

  • June 23, 2010

    Ritz Carlton Seeks Katrina Damage Coverage From Ace

    WH Holdings LLC, the owner of The Ritz Carlton New Orleans, and several of its insurers have asked a federal judge to declare that Ace American Insurance Co. is the insurance company that should cover damage to the hotel caused by Hurricane Katrina.

  • June 23, 2010

    Claims Pared In Gas Spill Coverage Dispute V. Liberty

    Liberty Surplus Insurance Corp. has won its bid to nix unjust enrichment and bad faith claims in Penn Tank Lines Inc.'s suit seeking coverage for an environmental cleanup related to a truck crash that released 8,800 gallons of gasoline on a Florida highway.

  • June 23, 2010

    Supporters Pitch $713M Deal To 9/11 Rescue Workers

    Supporters of an up to $712.5 million settlement between the WTC Captive Insurance Co. and 9/11 rescue and cleanup workers sought to sell the deal to roughly 10,000 claimants in a hearing Wednesday.

  • June 22, 2010

    Congoleum's $25M Pact With Insurers Upheld

    A federal appeals court has dismissed an appeal by a representative of future asbestos claimants against Congoleum Corp. that contested the terms of the bankrupt flooring company's $25 million settlement regarding asbestos-related claims that may be asserted against a pair of the debtors' insurers.

  • June 22, 2010

    St. Louis Diocese Wants Insurer's Docs In Abuse Case

    The Archdiocese of St. Louis has asked a federal court to compel Chicago Insurance Co. to produce documents the church claims are relevant to the plaintiffs' motion for judgment on the pleadings that is currently pending before the court.