Insurance

  • January 4, 2011

    Insurers Sue Toyota Over Gas Pedal Defect Suits

    American Automobile Insurance Co., Fireman's Fund Insurance Co. and five other insurers are suing Toyota Motor Corp. to recover money they paid out to cover crashes allegedly caused by a gas pedal defect that led to sudden acceleration.

  • January 4, 2011

    Insurer Skimped On Pepsi's Defense Costs, Judge Says

    A federal judge has ruled Century Indemnity Co. failed to properly reimburse Pepsi-Cola Metropolitan Bottling Co. Inc. for attorneys' fees in a slew of chromium contamination suits, but ordered arbitration to determine whether the extent of the fees was reasonable.

  • January 4, 2011

    8th Circ. Puts Insurers On Hook For Silo Damage

    The Eighth Circuit has ruled Ace American Insurance Co. and National Union Fire Insurance Co. of Pittsburgh, Pa., must indemnify Lexicon Inc. for part of the $4 million in damage caused by a silo collapse at a Trinidad iron plant.

  • January 4, 2011

    AT&T, USSIC End $10M Coverage Dispute

    AT&T Corp. has agreed to end a $10 million legal fight with U.S. Specialty Insurance Co. over a 2005 settlement the telecommunications giant claimed the insurer should partially cover.

  • January 4, 2011

    11th Circ. Revives Insurance Suit Over Plane Engines

    The Eleventh Circuit has given aviation repair company Aero Technologies LLC another chance to assert contract claims against an insurance broker in connection with the loss of nine aircraft engines that were confiscated by the Mexican government after the company leased them to a now-defunct Mexican airline.

  • January 4, 2011

    Huron, Empire Can't Shake St. Vincent False Claims Suit

    A federal judge has refused to throw out allegations that Huron Consulting Group Inc. and Empire HealthChoice Assurance Inc. overbilled Medicare and Medicaid $50 million while running St. Vincent Catholic Medical Centers into the ground.

  • January 4, 2011

    Wis. Joins Fight Against Health Care Reform

    Wisconsin is set to join more than 20 states in the fight against the recently enacted health care reform bill, contending that its mandate for individuals to purchase health insurance or pay a penalty is an unprecedented power grab by the federal government.

  • January 3, 2011

    2nd Circ. Says Unsigned Contract Means No Coverage

    A federal appeals court has reversed a lower court's finding that a building's owner and construction manager are covered under a Mountain Valley Indemnity Co. primary insurance policy issued to their contractor, ruling that the firms' construction agreement with the contractor was never "executed" as required by the policy.

  • January 3, 2011

    Insurers' Plane Crash Suit Against Cirrus Grounded

    A federal judge has dismissed a suit brought against airplane maker Cirrus Design Corp. by two insurers looking to recover over $11 million they paid out after the plane crash that claimed the lives of New York Yankees pitcher Cory Lidle and a flight instructor in 2006, but left the door open for the plaintiffs to amend their complaint.

  • January 3, 2011

    Liberty Mutual Settles Kickback Claims For $7.5M

    Liberty Mutual Insurance Co. on Monday announced it would pay $7.5 million to settle bid-rigging and kickback claims from New York and Connecticut officials.

  • January 3, 2011

    4 Insurer Groups Settle Overcharging Claims For $120M

    The ACE Group, Zurich Financial Services Group, the Pennsylvania Manufacturers' Association Insurance Group and CNA Financial Corp. have agreed to pay nearly $120 million to New York state to settle claims that the four insurance groups overcharged policyholders for workers' compensation coverage.

  • January 3, 2011

    Travelers Says Other Insurers Must Cover Plastics Suit

    Travelers Property Casualty Co. of America has hit four other insurers with a suit claiming the companies owe defense costs in underlying litigation over the defective manufacturing of plastic parts for slides.

  • January 3, 2011

    Dewey Can Enforce Subpoena In $1B Legal Advice Suit

    Dewey & LeBoeuf LLP has won the right to enforce a subpoena against the Missouri insurance commissioner in a $1 billion case over the firm's advice to collapsed General American Life Insurance Co.

  • January 1, 2011

    AIG Led Insurer Payouts In 2010

    The leading settlements and verdicts in the insurance industry in 2010 arose from the alleged financial misdeeds and improper practices of insurers instead of traditional policyholder claims, with payouts involving American International Group Inc. that totaled more than $1 billion among the top examples.

  • January 1, 2011

    Insurance Cases To Watch In 2011

    The biggest insurance cases in 2011 probably will spring not from earthquakes or flooding, but from man-made disaster, as fraud claims stemming from the financial crisis — particularly against directors and officers — ripen and receivers, banks, bond insurers and investors struggle to recoup their losses.

  • January 1, 2011

    Insurance Legislation, Regulation To Watch In 2011

    Lawyers anticipate a busy 2011 for insurance legislation and regulation, both at the national and state levels, resulting from the recent shift in power in Congress and the financial reform legislation.

  • January 1, 2011

    Insurers Gained Ground In Key 2010 Rulings

    The most important insurance rulings in 2010 came in cases concerning failed banks, reinsurers' settlement obligations, and directors and officers policies, with courts settling law in many gray areas and giving insurers cause for comfort.

  • December 23, 2010

    UBS Must Pay CNA Exec $2.2M For Lehman Losses

    An arbitration panel reportedly has ruled that a UBS AG subsidiary must pay more than $2.2 million to the head of insurer CNA Financial Corp. for personal investment losses related to so-called structured products underwritten by now-defunct Lehman Brothers Holdings Inc.

  • December 23, 2010

    MBIA Gets OK To Use Stats In Countrywide Fraud Suit

    A New York judge has agreed to allow bond insurer MBIA Insurance Corp. to use statistical sampling to support fraud and breach of contract claims in a suit accusing Countrywide Financial Corp. of baiting it into insuring more than $20 billion in mortgage-backed securities.

  • December 23, 2010

    WaMu Bondholders Take JPMorgan Suit TO DC Circ.

    American National Insurance Co. has told a federal appeals court that a lower court improperly barred it from pursuing claims that JPMorgan Chase & Co. obtained an unlawful profit of at least $1.9 billion through a scheme to strip away the contract rights of bondholders in failed Washington Mutual Bank NA.