A New York bankruptcy judge denied a motion to compel arbitration of a dispute surrounding Hostess Brands Inc.’s bid to dip into cash collateral related to a workers' compensation and auto insurance program, according to an order filed Wednesday.
A Texas appeals court on Friday refused to rehear RSUI Indemnity Co.’s fight to avoid paying $7.5 million in excess coverage to The Lynd Co. for damage caused during 2005’s Hurricane Rita — despite a sharp dissent that said the result was “absurd.”
A Goldman Sachs Group Inc. attorney urged a New York state appeals court Wednesday to shut down ACA Financial Guaranty Corp.'s $120 million suit over the so-called Abacus mortgage-backed transaction, arguing that ACA should've done its homework before insuring the deal.
An attorney for Farmers Mutual Fire Insurance Co. on Wednesday urged the New Jersey Supreme Court to reverse an appellate division finding that solvent insurers have to exhaust their coverage of environmental cleanup costs before a state guaranty association for insolvent carriers must contribute.
The Republican speaker of the U.S. House of Representatives said Wednesday the House would vote to approve billions of dollars in aid to victims of Superstorm Sandy in two steps after his initial refusal to bring up the $60 billion measure was met with fury in New York and New Jersey.
Insurance companies waiting to see how the Dodd-Frank Act's regulatory reforms treat their in-house banking units likely will get answers in 2013, and the final rules may push them to ditch those units rather than adhere to the toughened bank capital and other standards, attorneys say.
Delay damages awarded in insurance disputes must be calculated based on verdicts molded around policy limits and not on awards made directly by juries, Pennsylvania’s highest court said Friday in a decision upending a ruling by the state’s Superior Court.
A Texas appellate court on Friday said a cellphone tower siting business is time-barred from suing its former law firm for claims it improperly structured a real estate deal that was intended to provide tax relief but cost the business $2 million when a holding company went bankrupt.
In a long-awaited move, the Internal Revenue Service on Wednesday revealed how it will decide whether companies are subject to the health reform law’s mandate for large employers to provide affordable health insurance and what levels of coverage must be provided.
A New Jersey federal judge on Monday trimmed an unjust enrichment claim from a proposed class action against PHH Mortgage Corp. over its alleged practice of taking kickbacks and commissions from force-placed insurance providers, but left intact some breach of contract and consumer fraud claims.
Edwards Wildman Palmer LLP revealed Wednesday that it has picked up a former Day Pitney LLP attorney with experience in mergers and acquisitions and securities transactions as a partner in its insurance and reinsurance department in New York.
In the wake of Hurricane Sandy, Maryland's insurance regulator proposed a rule Friday to specify when carriers could apply hurricane deductibles, which are higher than standard deductibles.
While insurers will keep a sharp eye on how federal regulators implement Dodd-Frank rules in 2013, they will also fight for a reauthorization of a federal backstop for terrorism insurance and closely watch policy proposals for tackling catastrophes in the wake of Hurricane Sandy.
Insurers and policyholders will spend much of 2013 brawling over who should foot the multibillion-dollar bill for Hurricane Sandy losses, while attorneys also expect a hotbed of litigation over cyberliability claims, including more infighting among carriers.
Law360 is pleased to announce the winners of this year’s Practice Groups of the Year award.
A Connecticut federal judge on Thursday ordered Cigna Corp. to make changes in its retirement plan and also denied the health care company's bid to decertify a class of roughly 25,000 workers in a long-running lawsuit accusing it of shortchanging employee pensions.
A federal judge returned to New Jersey state court a suit filed by Prudential Financial Inc. units claiming they were fraudulently sold $523 million in residential mortgage-backed securities by JPMorgan Chase & Co. units, saying in a decision filed Thursday that federal law didn't cover the dispute.
A West Virginia jury sided with CSX Transportation Inc. on Thursday on its racketeering, conspiracy and fraud claims against two lawyers who the railroad company accused of hatching a plot with a radiologist to fabricate asbestos claims.
The Second Circuit's Wednesday ruling that Olin Corp.'s excess insurance policy could be triggered by environmental damage occurring outside the policy period shows that insureds in New York can use contract language to counteract the pro rata allocation method for long-tail claims and put carriers on the hook for more losses, experts say.
The Fifth Circuit on Thursday vacated a lower court’s $43 million judgment in a Medicare fraud suit after finding the figure exceeded insurers’ actual losses, which the defendants argued were less than half that amount.