American Automobile Insurance Co., Fireman's Fund Insurance Co. and five other insurers are suing Toyota Motor Corp. to recover money they paid out to cover crashes allegedly caused by a gas pedal defect that led to sudden acceleration.
A federal judge has ruled Century Indemnity Co. failed to properly reimburse Pepsi-Cola Metropolitan Bottling Co. Inc. for attorneys' fees in a slew of chromium contamination suits, but ordered arbitration to determine whether the extent of the fees was reasonable.
The Eighth Circuit has ruled Ace American Insurance Co. and National Union Fire Insurance Co. of Pittsburgh, Pa., must indemnify Lexicon Inc. for part of the $4 million in damage caused by a silo collapse at a Trinidad iron plant.
AT&T Corp. has agreed to end a $10 million legal fight with U.S. Specialty Insurance Co. over a 2005 settlement the telecommunications giant claimed the insurer should partially cover.
The Eleventh Circuit has given aviation repair company Aero Technologies LLC another chance to assert contract claims against an insurance broker in connection with the loss of nine aircraft engines that were confiscated by the Mexican government after the company leased them to a now-defunct Mexican airline.
A federal judge has refused to throw out allegations that Huron Consulting Group Inc. and Empire HealthChoice Assurance Inc. overbilled Medicare and Medicaid $50 million while running St. Vincent Catholic Medical Centers into the ground.
Wisconsin is set to join more than 20 states in the fight against the recently enacted health care reform bill, contending that its mandate for individuals to purchase health insurance or pay a penalty is an unprecedented power grab by the federal government.
A federal appeals court has reversed a lower court's finding that a building's owner and construction manager are covered under a Mountain Valley Indemnity Co. primary insurance policy issued to their contractor, ruling that the firms' construction agreement with the contractor was never "executed" as required by the policy.
A federal judge has dismissed a suit brought against airplane maker Cirrus Design Corp. by two insurers looking to recover over $11 million they paid out after the plane crash that claimed the lives of New York Yankees pitcher Cory Lidle and a flight instructor in 2006, but left the door open for the plaintiffs to amend their complaint.
Liberty Mutual Insurance Co. on Monday announced it would pay $7.5 million to settle bid-rigging and kickback claims from New York and Connecticut officials.
The ACE Group, Zurich Financial Services Group, the Pennsylvania Manufacturers' Association Insurance Group and CNA Financial Corp. have agreed to pay nearly $120 million to New York state to settle claims that the four insurance groups overcharged policyholders for workers' compensation coverage.
Travelers Property Casualty Co. of America has hit four other insurers with a suit claiming the companies owe defense costs in underlying litigation over the defective manufacturing of plastic parts for slides.
Dewey & LeBoeuf LLP has won the right to enforce a subpoena against the Missouri insurance commissioner in a $1 billion case over the firm's advice to collapsed General American Life Insurance Co.
The leading settlements and verdicts in the insurance industry in 2010 arose from the alleged financial misdeeds and improper practices of insurers instead of traditional policyholder claims, with payouts involving American International Group Inc. that totaled more than $1 billion among the top examples.
The biggest insurance cases in 2011 probably will spring not from earthquakes or flooding, but from man-made disaster, as fraud claims stemming from the financial crisis — particularly against directors and officers — ripen and receivers, banks, bond insurers and investors struggle to recoup their losses.
Lawyers anticipate a busy 2011 for insurance legislation and regulation, both at the national and state levels, resulting from the recent shift in power in Congress and the financial reform legislation.
The most important insurance rulings in 2010 came in cases concerning failed banks, reinsurers' settlement obligations, and directors and officers policies, with courts settling law in many gray areas and giving insurers cause for comfort.
An arbitration panel reportedly has ruled that a UBS AG subsidiary must pay more than $2.2 million to the head of insurer CNA Financial Corp. for personal investment losses related to so-called structured products underwritten by now-defunct Lehman Brothers Holdings Inc.
A New York judge has agreed to allow bond insurer MBIA Insurance Corp. to use statistical sampling to support fraud and breach of contract claims in a suit accusing Countrywide Financial Corp. of baiting it into insuring more than $20 billion in mortgage-backed securities.
American National Insurance Co. has told a federal appeals court that a lower court improperly barred it from pursuing claims that JPMorgan Chase & Co. obtained an unlawful profit of at least $1.9 billion through a scheme to strip away the contract rights of bondholders in failed Washington Mutual Bank NA.