Insurance

  • May 4, 2011

    3rd Circ. Says Insurers Can Challenge GIT Ch. 11 Plan

    The Third Circuit ruled Wednesday that a group of insurers can challenge asbestos claims provisions of Global Industries Technologies Inc.'s bankruptcy plan, a precedential move dissenting judges say improperly lowers the threshold for claiming injury in bankruptcy proceedings.

  • May 4, 2011

    MetLife Intervenes In Protest Of $2B Dental Contract

    Metropolitan Life Insurance Co., which was awarded a contract worth up to $1.9 billion to provide dental care to military families in January, intervened Wednesday in a U.S. Court of Federal Claims suit challenging the award.

  • May 3, 2011

    AIG Must Pay $87M In Coverage Dispute, Panel Says

    American International Group Inc. must pay $86.7 million to a subsidiary of Belgium's KBC Group NV, an arbitration panel has said, finding that AIG broke a deal to provide KBC with coverage related to purchases of so-called life-settlements.

  • May 3, 2011

    Axiom Claims Disparaging Email Breached Settlement

    Axiom Insurance Managers Agency LLC stepped up its legal battle against a competing insurance company in the bar and restaurant industry with a lawsuit Tuesday in Illinois accusing the company of violating a settlement agreement through a disparaging email.

  • May 3, 2011

    Blank Rome Snags Ex-Cozen Life Sciences Chair

    Blank Rome LLP said Tuesday that the former chair of Cozen O'Connor's life sciences practice group had joined the firm's Philadelphia office as vice chair of its life sciences team and partner in its product liability, mass torts and insurance group.

  • May 3, 2011

    7th Circ. Orders Near North Fraudster Sentence Review

    The Seventh Circuit on Tuesday asked an Illinois federal judge to revisit whether a 121-month sentence handed to Near North Insurance Brokerage Inc. fraudster Michael Segal included punishment for honest services fraud, and to shorten it if it did.

  • May 3, 2011

    NYID Must Comply With Email Discovery In $5B MBIA Suit

    A New York appeals court judge ruled Tuesday that the state Insurance Department must comply with a November order that it participate in an email discovery process in a $5 billion suit over the restructuring of MBIA Inc.

  • May 3, 2011

    ProCentury Drops Coverage Suit Over SEC Probe

    Insurance holding company ProCentury Corp. on Tuesday dropped a suit in Michigan that sought to force Federal Insurance Co. to cover defense costs incurred during a securities investigation of ProCentury's financial statements.

  • May 3, 2011

    Congress Asks To Join Same-Sex Partner Benefits Suit

    A congressional body sought to intervene Monday to defend the Defense of Marriage Act in a proposed class action brought by California workers over tax provisions denying same-sex partners long-term care insurance.

  • May 3, 2011

    Travelers Wants Off Hook For Popcorn Lung Suits

    An attorney for Travelers Property Casualty Co. of America told a New York judge Tuesday that the insurer shouldn't have to defend against nine lawsuits over popcorn lung because flavoring maker Kerry Inc. didn't acquire Travelers insurance policies in a 2002 acquisition.

  • May 3, 2011

    Surety Insurer Rips Vitro Ch. 11 Sale Of US Assets

    The U.S. debtor affiliates of Vitro SAB de CV are separate entities and should not be sold together, an insurer that issued more than $100 million in surety bonds to the bankrupt Mexican glass manufacturer told a Texas bankruptcy court Monday.

  • May 3, 2011

    Gateway Seeks Quick Win In D&O Row Over SEC Defense

    Gateway Inc. moved for summary judgment Tuesday in its California federal court suit against Travelers Indemnity Co., saying the insurer improperly denied excess coverage for the defense of Gateway's executives during an investigation and lawsuit by the U.S. Securities and Exchange Commission.

  • May 3, 2011

    Insurers Want $20M For Allegedly Defective Power Pipes

    Insurers of New England’s largest public utility accused manufacturer The Babcock & Wilcox Co. in Connecticut on Monday of selling the utility defective tubing that caused more than $20 million in damage to a coal-fired power plant.

  • May 2, 2011

    NY Life Genocide Action Survives For Now

    A California federal judge on Monday indicated she would not dismiss a putative class action alleging New York Life Insurance Co. improperly restricted claims by heirs of policyholders who died in Ottoman Empire genocides in the early 20th century.

  • May 2, 2011

    Dewey Fails To Revive Claim In $1B Malpractice Suit

    A Missouri appeals court ruled Friday that a lower court erred when it allowed Dewey & LeBoeuf LLP to appeal the dismissal of one of its counterclaims in a $1 billion legal malpractice suit brought by the state insurance commissioner over the collapse of General American Life Insurance Co.

  • May 2, 2011

    Judge Tosses Pilots Union's $44M Suit Against UAL

    A New York state judge on Thursday threw out an airline pilots union’s breach of contract suit against UAL Corp., the holding company for United Air Lines Inc., seeking indemnification for a $44 million settlement the union paid to resolve a putative class action by its members.

  • May 2, 2011

    Supplement Co. Says Chubb Must Cover 'Shape Up' Suit

    CSA Nutraceuticals GP LLC argued in Texas on Monday that Chubb Custom Insurance Co. was obligated to defend it in a class action alleging that Shape Up! nutritional supplements, endorsed by TV's Dr. Phil, didn't help consumers lose weight as advertised.

  • May 2, 2011

    Counterclaims Can't Trigger CAFA Removal: 9th Circ.

    The Ninth Circuit ruled Monday that the Class Action Fairness Act doesn't allow a party joined to an action as a counterclaim defendant to remove the case to federal court, affirming the remand of a student loan dispute with class counterclaims.

  • May 2, 2011

    Jones Day Lures M&A Pro From Edwards Angell

    Jones Day said Monday it had snagged a mergers and acquisitions attorney specializing in the insurance, financial services and life sciences arenas from Edwards Angell Palmer & Dodge LLP.

  • May 2, 2011

    Milberg Negligence Suit Survives 2nd Dismissal Bid

    An Arizona federal judge on Friday denied a second motion to dismiss a proposed class action accusing Milberg LLP and others of malpractice leading to the decertification and dismissal of a securities suit against an American International Group Inc. subsidiary.