Insurance

  • June 17, 2013

    Estee Lauder Unit Escapes Insurer's Suit Over Attys' Costs

    OneBeacon Insurance Group can't recoup from a noninsured affiliate of Estee Lauder Company some of the $3.8 million in defense costs the insurer paid in litigation over Estee Lauder's alleged hazardous waste dumping, according to a New York state court order posted Monday.

  • June 17, 2013

    Conn. High Court Slashes Coverage For Nursing Home Fire

    The Connecticut Supreme Court has sharply reduced the amount of insurance available for wrongful death and injury claims stemming from a nursing home fire set off by a resident, holding in an opinion to be published Tuesday that coverage was limited to $1 million, not $10 million, as a lower court had ruled.

  • June 17, 2013

    JPMorgan Can't Shake MBS Fraud Claims In $300M Ambac Suit

    Ambac Assurance Corp. can pursue fraud claims against JPMorgan Chase & Co. over residential mortgage-backed securities it insured because the deal closed so quickly that the bond insurer might not have had a chance to review the loan files, a New York state judge ruled Monday.

  • June 17, 2013

    Q&A With Barger & Wolen's Royal Oakes

    The use of the “genuine dispute” doctrine has been a huge step forward in dealing with dubious “bad faith” suits, says Royal Oakes, a partner with Barger & Wolen LLP specializing in insurance law.

  • June 17, 2013

    ACA Medicaid Expansion Passes In Calif. Legislature

    The California State Legislature voted on Saturday to expand Medicaid benefits to 1.4 million low-income residents, approving a provision of the federal Affordable Care Act.

  • June 17, 2013

    Pillsbury Adds Lowenstein Policyholder Pro In NY

    Pillsbury Winthrop Shaw Pittman LLP has snapped up a former Lowenstein Sandler PC insurance specialist as a partner in its New York office, expanding its offerings for commercial policyholders suing their insurers, Pillsbury said Monday.

  • June 14, 2013

    Texas High Court Won't Review $2M RE Malpractice Claim

    The Texas Supreme Court on Friday said it would not hear arguments that the state should extend the time to file legal malpractice claims that come from transactional work as well as litigation, in a case involving real estate tax advice that allegedly cost a business $2 million when a holding company went bankrupt.

  • June 14, 2013

    1st Circ. Stands By Award Of Premium For Sham Policy

    The First Circuit on Friday refused to reconsider its published ruling allowing a Phoenix Cos. Inc. life insurer to keep the premium for a $5 million policy it rescinded after learning the policyholder was not the wealthy real estate investor he claimed to be.

  • June 14, 2013

    CMS Opens Door To Bifurcated ACA Health Exchanges

    The Centers for Medicare and Medicaid Services on Friday said it will allow states to run the Affordable Care Act's health insurance exchanges for small businesses while leaving the federal government responsible for online marketplaces serving individuals, the latest bid to encourage wider participation.

  • June 14, 2013

    Dems Introduce Bill Giving Churches ACA Tax Credits

    Two Democrat senators introduced a bill Friday that would allow churches to receive small-employer tax credits under the Affordable Care Act without changing their current health plans.

  • June 14, 2013

    Berkshire Offers Up Insurance Claim Details After SEC Probe

    Warren Buffett's Berkshire Hathaway Inc. has agreed to be more transparent with shareholders about its catastrophe insurance claims and its reserve adjustment policies in response to a U.S. Securities and Exchange Commission inquiry, according to documents made available Thursday.

  • June 14, 2013

    Insurer-Picked Firm Shut Out From Faulty Construction Suit

    A California appeals court has disqualified a law firm hired by CastlePoint National Insurance Co. from defending a construction defect suit against CastlePoint's policyholder after holding in an opinion published Thursday that the firm faced a conflict of interest.

  • June 14, 2013

    Title Insurer Convinces Calif. Court To Overturn $1M Defeat

    A California appeals court has reversed a judgment of more than $1 million against Chicago Title Insurance Co. in a coverage dispute with Liberty National Enterprises LP over a suit claiming fraud, according to a decision published Thursday that rejected Liberty's efforts to distinguish a significant 1981 ruling.

  • June 14, 2013

    Deals Rumor Mill: Vodafone, Siemens, KKR

    Vodafone could pad its $9.6 billion buyout bid for Kabel Deutschland after the Germany company spurned the initial offer, while Siemens is looking for a way out of its 50-50 joint venture with Nokia that carries an estimated worth of $9.4 billion.

  • June 14, 2013

    Q&A With Dickstein Shapiro's John Heintz

    I think issues arising out of an insurer’s duty to defend or pay defense costs will always be critical under all forms of liability insurance. Securing and implementing an insurer’s defense obligation is a persistent problem, says John Heintz, leader of Dickstein Shapiro LLP's insurance coverage group.

  • June 13, 2013

    Winston & Strawn DQ'd From San Bernardino Bankruptcy

    Winston & Strawn LLP was reportedly disqualified Thursday from representing bond insurer National Public Finance Guarantee Corp. — a creditor in the San Bernardino, Calif., bankruptcy — after the California Public Employees' Retirement System claimed the firm had hired attorneys who switched sides after representing CalPERS.

  • June 13, 2013

    Stockton Bankruptcy Judge Slings Sharp Words At Assured

    The California bankruptcy judge overseeing the largest-ever municipal bankruptcy on Wednesday refused a request by Assured Guaranty Corp. to change his determination that the bond insurer failed to negotiate in good faith with the city of Stockton.

  • June 13, 2013

    Condo Exec Personally Liable For $4M Loss: NY Appeals Court

    There was no ambiguity about a real estate executive's intent when he signed an indemnification agreement tied to debt that was supposed to fund Florida condos, a New York appeals court ruled Wednesday, awarding summary judgment to a bond insurer seeking to hold the executive personally liable for $3.9 million in losses. 

  • June 13, 2013

    Union Can Launch Revised Campaign Pay Suit Against Kaiser

    A California federal judge Wednesday revived a previously dismissed suit brought by a Kaiser Foundation Health Plan Inc. union accusing the company of illegally paying workers to advocate for a rival union, saying plaintiffs can add allegations that Kaiser paid hundreds more workers to campaign than initially claimed.

  • June 13, 2013

    Calif. Watchdog Wants Anthem Blue Cross Out Of Exchange

    California's insurance commissioner Thursday urged the state agency implementing its Affordable Care Act health exchange to bar Anthem Blue Cross Life and Health Insurance Co. from participating in the small business market due to its unreasonable rate hikes in the past.