Insurance

  • April 1, 2011

    Hartford Can't Dodge $10M Student Loan Bond Suit

    Hartford Fire Insurance Co. lost its bid Thursday to nix a lawsuit brought by Royal Indemnity Co. over $10 million in bond coverage related to criminal wrongdoing by employees at a bankrupt student loan company.

  • March 31, 2011

    Lloyd's, Others Sue Exxon Over NJ Cleanup Coverage

    A group of London insurers, including Lloyd's of London underwriters, sued Exxon Mobil Corp. Thursday in New York, asking the court to decide who will ultimately pay for an environmental cleanup in New Jersey.

  • March 31, 2011

    9th Circ. Affirms Toss Of CalStar Suits

    The Ninth Circuit backed the dismissal Thursday of suits brought by a California air ambulance rescue provider accusing insurers and employers of underpaying for its services, finding that the cases are not subject to federal jurisdiction.

  • March 31, 2011

    Hours Don't Count In First-To-File Law: EU Adviser

    The exact time that a European Union trademark application is filed is not relevant for determining who has priority over the trademark, a legal adviser to the European Court of Justice said Thursday, dealing a blow to a Spanish insurer.

  • March 31, 2011

    AIG Can't Ditch Pension Plan Action

    A New York federal judge on Thursday largely left intact a consolidated class action against American International Group Inc. and others alleging that the insurer's employee pension plans improperly invested in its own poorly performing stock.

  • March 31, 2011

    Agencies Assemble Antitrust Guidance For ACOs

    Federal antitrust regulators released draft guidance Thursday creating a so-called antitrust safety zone for accountable care organizations, as health care providers question how far they can go to collaborate to control prices without being deemed anti-competitive.

  • March 31, 2011

    Rising Star: McDermott's Ryan Smethurst

    McDermott Will & Emery LLP partner Ryan Smethurst played a lead role in drafting the $712.5 million insurance settlement with cleanup workers who claimed they got ill at the World Trade Center after the Sept. 11 terrorist attacks, earning him a place on Law360's list of five insurance attorneys under 40 to watch.

  • March 31, 2011

    QBE Sued Over Refusal To Cover Wilma Damage

    A condominium association slapped QBE Insurance Corp. with a suit Wednesday in Florida over allegedly unfair and deceptive insurance practices stemming from its failure to cover building damage caused by Hurricane Wilma in 2005.

  • March 31, 2011

    Conseco Gets Securities Fraud Action Booted

    A New York federal judge on Wednesday tossed a putative shareholder class action over Conseco Inc.'s restatement of several years of financial results in 2008, agreeing with the insurer that the suit failed to allege fraud.

  • March 31, 2011

    LA County Owes Earthquake Insurers $6M, Court Affirms

    A California appeals court on Wednesday upheld an order requiring Los Angeles County to pay $5.9 million to cover its insurers' litigation costs in a sprawling, 14-year-old lawsuit over damage from a 1994 earthquake.

  • March 31, 2011

    NY Approves Merger Of Insurance, Bank Regulators

    With the passage of the 2011-2012 budget by New York lawmakers late Wednesday, the state is moving forward with Gov. Andrew Cuomo's plan to combine insurance and banking regulators into a single office with new fraud-fighting authority.

  • March 30, 2011

    NY Fed Rejects $15.7B AIG Bid To Rebuy MBS

    The Federal Reserve Bank of New York announced on Wednesday that it had declined an offer from American International Group Inc. to buy a group of mortgage-backed securities for $15.7 billion.

  • March 30, 2011

    Insurer Trims Claims In A&F Derivative Coverage Suit

    Federal Insurance Co. convinced an Ohio federal judge Wednesday to whittle down a lawsuit over its refusal to defend Abercrombie & Fitch Co. in a shareholder derivative suit, nixing a bad faith claim but failing to eliminate breach of contract claims.

  • March 30, 2011

    Liberty Scores 5th Circ. Win On Contractors' Coverage

    The Fifth Circuit on Wednesday upheld a ruling that a group of former Quixtar Inc. independent contractors' Liberty Mutual Fire Insurance Co. policy does not cover a fight with the multilevel marketing company over noncompete agreements.

  • March 30, 2011

    Insurer Needn't Pay NYC $21M Bond, Judge Says

    A New York federal judge ruled Monday that Federal Insurance Co. was relieved of its obligation to pay a $21 million performance bond when the New York City Economic Development Corp. and a contractor materially altered the terms of a subcontract.

  • March 30, 2011

    Rising Star: Ropes & Gray's Catherine Mondell

    Ropes & Gray LLP's Catherine A. Mondell has helped insurers defeat hundreds of millions of dollars' worth of business interruption claims after Sept. 11 and Hurricane Katrina, earning her a place on Law360's list of five insurance attorneys under 40 to watch.

  • March 30, 2011

    Clyde & Co. Gets 2 More Cozen Insurance Attys

    Clyde & Co. LLP announced Monday that two Cozen O'Connor insurance lawyers have joined its Florham Park, N.J., office, including a new partner who brings expertise in insurance coverage for food contamination, product recalls, pollution and environmental claims.

  • March 29, 2011

    Swiss Re Unit Ends Suit Over Pizza Hut Storm Losses

    A Swiss Re affiliate on Tuesday resolved a suit against one of the U.S.' largest Pizza Hut franchisees over coverage for nearly 40 restaurants and take-out locations in Florida damaged during the 2004 hurricane season.

  • March 29, 2011

    Mortgage Insurer Fights Countrywide Arbitration Bid

    An attorney for Republic Mortgage Insurance Co. told a New York state appeals court Tuesday that the insurer shouldn't have to arbitrate its dispute with Bank of America Corp.'s Countrywide and Bank of New York Mellon Trust Co. NA.

  • March 29, 2011

    Insurer Sheds Claims Over Factory Cleanup Coverage

    A federal judge granted partial summary judgment Monday to American International Specialty Lines Insurance Co. in a coverage suit over a former New Jersey razor factory's cleanup, ruling that $928,000 in rejected claims were billed after the policy at issue expired.