Insurance

  • July 12, 2013

    Nabors Ducks Encana Subcontractor Claims In Appeals Court

    A Texas appeals court on Thursday said Nabors Drilling USA LP isn’t required to indemnify Encana Oil & Gas USA Inc. for settlements Encana subcontractors made with Nabors workers injured at a drilling site, reversing a trial judge’s interpretation of the contracts at issue.

  • July 12, 2013

    Conflict-Of-Interest Rule Finalized For Exchange Outreach

    The Obama administration on Friday finalized policies designed to restrict insurers from influencing consumer assistance in the Affordable Care Act’s health insurance exchanges, barring so-called navigators who will guide shoppers from having any significant ties to the industry.

  • July 12, 2013

    Glass-Steagall Revival Opens Door To Tough New Bank Rules

    The recent bipartisan effort to resurrect the Glass-Steagall Act’s firewall between commercial and investment banking may ultimately be doomed, but experts say the high-profile push will reframe the debate over bank size and function and give lawmakers room to toughen bank regulation.

  • July 12, 2013

    3rd Circ. Urged To Revive Prudential War Policies Suit

    A pair of former defense contractor workers on Thursday urged the Third Circuit to revive their putative class action accusing their employer and Prudential Insurance Co. of America of selling them worthless disability insurance policies, saying a lower court judge had wrongly found their claims were preempted.

  • July 12, 2013

    Texas Regulator Attacks Starr Subpoena In AIG Bailout Suit

    A Texas regulator on Thursday put up a fight against Starr International Co. Inc.'s demand for information to advance its $55.5 billion lawsuit over American International Group Inc.'s bailout, arguing the request was overly broad and burdensome.

  • July 12, 2013

    In Win For Zurich, Judge Enforces Strict Reporting Deadline

    Companies that renew their claims made and reported policies must still notify insurers of claims during the policy period they are made, a federal judge ruled Tuesday, predicting South Carolina's Supreme Court would side with Zurich American Insurance Co. and refuse to extend an environmental consulting firm's reporting deadline.

  • July 12, 2013

    Progressive Beats Underinsured Driver Coverage Class Action

    A Pennsylvania federal judge axed a putative class action Wednesday accusing Progressive Northern Insurance Co. of failing to let customers waive uninsured motorist coverage for vehicles added to existing policies, ruling state law only required a waiver for newly purchased policies.

  • July 12, 2013

    Deals Rumor Mill: Smithfield, Swiss Re, GLG

    Bankers are in a frenzy over Smithfield Foods' $7 billion sale deal and are running up a loan raising for its Chinese suitor, while a $4.53 billion merger between a Swiss Re unit and Phoenix Group is being negotiated.

  • July 12, 2013

    WellPoint Pays $1.7M Over Patient Data Breach

    WellPoint Inc. has agreed to pay $1.7 million to settle claims over potential privacy violations related to the personal data of more than 612,000 of its customers due to an allegedly improperly secured online database, the U.S. Department of Health and Human Services announced Thursday.

  • July 11, 2013

    4th Circ. Rejects Religious Challenge To Health Reform

    The Fourth Circuit on Thursday struck down a Christian university's challenge of the Affordable Care Act, ruling the legislation doesn't impede the school's religious freedom and that its so-called employer mandate doesn't exceed Congress' authority to regulate commerce.

  • July 11, 2013

    Pa. Justices To Weigh Who Can Appeal Autism Case Denials

    The Pennsylvania Supreme Court announced Thursday that it would hear a case that will clarify whether families can appeal an insurer's denial of coverage for autism treatment, after the state's Superior Court determined that only insurers could bring court appeals over decisions made by independent evaluators.

  • July 11, 2013

    Clyde & Co. Launches 4th US Office With Insurance Duo

    London-based law firm Clyde & Co. LLP recently launched its fourth U.S. office with an outpost in Atlanta led by an insurance duo from Robins Kaplan Miller & Ciresi LLP specializing in complex insurance, reinsurance and recovery claims.

  • July 11, 2013

    Sens. Float Bill Renewing Glass-Steagall Act

    A group of U.S. senators led by Sens. Elizabeth Warren, D-Mass., and John McCain, R-Ariz., on Thursday introduced legislation that would reinstitute a modernized version of the Glass-Steagall Act, which separated retail from investment banking.

  • July 11, 2013

    Boehner Says 'Hell No' To ACA Mandate As GOP Preps Vote

    The U.S. House of Representatives will vote next week on delaying the Affordable Care Act's mandate that all Americans obtain health insurance, Republicans said Thursday, a proposal billed as the only fair response to the postponement of a requirement for large employers to supply coverage.

  • July 11, 2013

    SAG Stuck With Bill From 'Leave It To Beaver' Star's Suit

    A California federal judge ruled Thursday that a The Chubb Corp. subsidiary doesn't have to reimburse the Screen Actors Guild-American Federation of Radio and Television Artists for attorneys' fees from a settlement resolving a "Leave It to Beaver" actor's class action over foreign royalties.

  • July 11, 2013

    Mass. High Court Limits Title Insurers' Duties

    The Massachusetts Supreme Court dramatically narrowed the defense obligations of title insurers Thursday, while saving First American Title Insurance Co. from covering a lawsuit accusing Deutsche Bank NA and others of a predatory lending scheme.

  • July 11, 2013

    Senate Panel Clears $165B Bill Funding ACA, Job Training

    A Senate committee on Thursday advanced a $165.6 billion health, labor and education appropriations bill meant to support full implementation of the Affordable Care Act and up funding for job training programs, among other measures, amid lawmaker wrangling over several provisions.

  • July 11, 2013

    Mortgagee Demands Sandy Payout Issued To Loan Recipient

    The mortgagee of a New Brunswick, N.J., property has sued Hudson Insurance Group to secure a more than $900,000 payout for Superstorm Sandy damage that contends improperly went to a loan recipient.

  • July 11, 2013

    Pa. AG Won't Defend Gay Marriage Ban Against ACLU Suit

    Pennsylvania Attorney General Kathleen Kane announced Thursday that she would not defend the state’s law banning gay marriage against a legal challenged launched by the American Civil Liberties Union, citing her obligation to defend the constitutional rights of the state’s citizens.

  • July 11, 2013

    Macquarie Can't Nix Syncora Suit Over $500M Toll Road Deal

    Bond insurer Syncora Guarantee Inc.’s suit claiming Macquarie Group Ltd. paid a consultant to help dupe it into backing a $500 million toll road financing agreement is strong enough to survive an early dismissal bid, a Manhattan judge said in a decision published Wednesday.