Insurance

  • December 20, 2011

    Signature's $43M Insurance Claims Snuffed

    A California federal judge on Tuesday tentatively ruled that Signature Group Holdings Inc. isn't entitled to payouts from Continental Insurance Co. and three other insurers for losses stemming from $43 million in loans it issued to dishonest former employees perpetrating mortgage fraud schemes.

  • December 20, 2011

    Cessna Sued For Negligence Over 2008 Runway Crash

    WM Aviation LLC and Tricor International Corp. launched a negligence and antitrust suit against Cessna Aircraft Co. on Monday in connection with a 2008 runway plane crash, weeks after the aviation charter firms settled a dispute with their insurers over coverage for the crash.

  • December 20, 2011

    Insurers Buck Defense Costs For Budget Credit Card Action

    Travelers Property Casualty Co. of America and St. Paul Fire and Marine Insurance Co. sued a Budget Rent A Car licensee Monday in Georgia, saying they won't defend the company in a putative class action alleging it improperly printed customers' credit card information on receipts.

  • December 20, 2011

    LA Ordered To Give Up Daily Reports In Water Main Spat

    A federal judge in California ordered the city of Los Angeles on Tuesday to hand Safeco Insurance Co. hundreds of documents chronicling work performed on a $29.9 million water main in the months after the city terminated Safeco's construction contract on the project.

  • December 20, 2011

    Ex-Policyholders Trimmed From Conseco Insurance Action

    A California federal court trimmed former policyholders on Tuesday from a consumer class in a breach of contract suit against Conseco Life Insurance Co., citing the Supreme Court's ruling in Wal-Mart v. Dukes, which tightened the rules on class certifications.

  • December 20, 2011

    Food Co., Insurers Hit Navy With $365M Flare Damage Suit

    Smithfield Foods Inc. and several insurers hit the U.S. Department of the Navy on Tuesday with a $365 million suit alleging a fire caused at a Smithfield facility by a Marine Corps reservist caused $326 million in damages.

  • December 20, 2011

    Aon To Fork Over $16M In Deal Ending FCPA Case

    Aon Corp., one of the world's largest insurance brokerage firms, will pay $16.3 million to resolve criminal and civil allegations that it doled out improper payments and benefits to officials in Costa Rica and other foreign countries, federal regulators announced Tuesday.

  • December 20, 2011

    La. Insurance Czar Blasts Restored $93M Katrina Award

    Louisiana's insurance commissioner said Tuesday that he would ask the state's high court to review its reinstatement of a $92.8 million judgment against a state-chartered insurer for neglecting to adjust property owners' claims on time after Hurricane Katrina.

  • December 20, 2011

    Insurer Must Face Class Action Over Slyly Reduced Benefits

    A South Carolina federal judge refused on Monday to toss a proposed class action claiming that CUNA Mutual Insurance Society and others replaced credit insurance plans with insurance that provided far fewer benefits without adequately informing plan holders.

  • December 20, 2011

    9th Circ. Remands Calif. Workers' Health Insurance Suit

    The Ninth Circuit on Monday returned a suit filed by retired California workers to a lower court following a ruling by the California Supreme Court that it was possible a state law bound a county to an implied health insurance contract with its employees. 

  • December 20, 2011

    Simplyhealth To Buy Axa Dental Unit For $180M

    British health insurance company Simplyhealth Group Ltd. has agreed to purchase Denplan Ltd., the largest dental insurance provider in the U.K., from Axa SA for about €137 million ($180 million) in cash, Simplyhealth announced Tuesday.

  • December 19, 2011

    Zurich Sanctioned In Abestos Coverage Suit

    A Minnesota federal judge on Monday sanctioned Zurich American Insurance Co. and compelled it to produce corporate witnesses to testify on certain issues in insulation company API Inc.’s suit against the insurers for more than $70 million in asbestos-related coverage claims.

  • December 19, 2011

    Wells Fargo Force-Placed Home Insurance Action Nixed

    Just days after the complaint was filed, a Florida federal judge on Monday tossed a putative class action over Wells Fargo Bank NA's allegedly unlawful force-placed, competition-dampening insurance policies on jurisdictional grounds.

  • December 19, 2011

    Sabre's Coverage Row With AIG Unit Sent To Federal Court

    An American International Group Inc. subsidiary on Monday removed to Texas federal court Sabre Inc.'s suit seeking coverage for defense costs it has incurred in two antitrust suits filed by American Airlines Inc. against the airline ticket distributor.

  • December 19, 2011

    Marketing Co. Seeks Coverage For Hidden Fee Actions

    Clarus Marketing Group LLC sued Philadelphia Indemnity Insurance Co. in California federal court Friday, seeking coverage under a professional liability policy for class actions claiming the marketing company surreptitiously enrolled consumers in a membership program that cost up to $20 a month.

  • December 19, 2011

    Pipeline Maker Settles $2M Suit Over Faulty Gas Line

    A trio of companies working on a natural gas extraction project in Louisiana settled their lawsuit against pipeline manufacturer PolyFlow Inc. for allegedly providing faulty equipment for the venture, but their case against PolyFlow's insurer continues, according to court documents filed Friday.

  • December 19, 2011

    Supreme Court Sets Arguments In Health Care Fight

    The U.S. Supreme Court on Monday announced its schedule for oral arguments in its review of challenges to the Patient Protection and Affordable Care Act, setting aside three days in late March to review the constitutionality of President Barack Obama's signature health care overhaul.

  • December 19, 2011

    ACE Insurance Units Fined $9M For Faulty Practices

    British and Irish financial regulators on Monday fined two ACE Group Combined Insurance Co. units about $8.7 million for failing to protect consumers by properly overseeing their sales agents and handling claims and complaints.

  • December 19, 2011

    Electrolux Dryers Led To $12M In Fire Damage: State Farm

    State Farm Fire and Casualty Co. sued Electrolux Home Products Inc. in Illinois federal court on Friday, accusing the appliance manufacturer of selling faulty clothes dryers that caught fire and caused more than $12 million in damage to policyholders' homes.

  • December 16, 2011

    Ace Exits Insurance Bid-Rigging Suit For $2M

    Ace American Insurance Co. agreed Friday to pay nearly $2 million to settle allegations in Ohio state court that it conspired with other insurers to eliminate competition in the commercial casualty insurance industry.