Insurance

  • March 23, 2012

    States Enact Early Health Reforms As Tougher Terms Loom

    Nearly all states have developed effective strategies to implement new insurance standards set by the 2010 health care overhaul, but questions linger about whether states properly can enforce more complex mandates that take effect in 2014, according to Commonwealth Fund report published Thursday.

  • March 23, 2012

    Nonparty Insurers Can Seek FINRA Arbitration, Court Rules

    A California appeals court on Friday said insurers involved in investment disputes may proceed before a Financial Industry Regulatory Authority arbitration panel if they are acting as agents for a party with an arbitration agreement even if the insurance company itself is not.

  • March 23, 2012

    Health Care Reform Faces Ultimate Test In High Court

    As the Obama administration's health reform law celebrates its second anniversary, it also faces its greatest challenge as Supreme Court oral arguments examining the constitutionality of the mandate start Monday.

  • March 23, 2012

    AXA Fights For Punitive Damages In $1.5B ING Row

    An AXA SA unit argued in a New York state appeals court Friday that it should be able to seek punitive damages from an ING Groep NV subsidiary, which AXA claims misled it into paying $1.5 billion for a Mexico-based insurer.

  • March 23, 2012

    Lawmaker Says Bill Would Shrink Medicare Part C Costs

    The Democratic ranking member of the U.S. House Committee on Ways and Means introduced a bill on Thursday he says would help end overpayments to private insurers in the Medicare Advantage program, saving taxpayers $20 billion over the next 10 years.

  • March 23, 2012

    Cryobank Denied Coverage In Fighting Investor Fraud Claims

    A California judge ruled Friday that Continental Casualty Co. isn't required to provide coverage to Lifeforce Cryobank Sciences Inc. as it fights claims it siphoned millions from another company and defrauded its shareholders, deciding Lifeforce's president was acting independently when the fraud was committed.

  • March 23, 2012

    Linkin Park's $2.4M Coverage Suit Against Lloyd's Stays Alive

    A California state judge ruled Friday that rock band Linkin Park can continue to pursue claims that Certain Underwriters at Lloyd’s, London wrongfully denied a $2.4 million insurance claim over a cancelled China tour, saying disputes about the singer's health supported proceeding to trial.

  • March 23, 2012

    Day Pitney Pulls Boston Insurance Pro From Choate Hall

    Day Pitney LLP has lured insurance and reinsurance pro Michael Mullins from Choate Hall & Stewart LLP to join its Boston office as partner, the firm said Thursday.

  • March 23, 2012

    Rising Star: ACE Bermuda's Joshua Schwartz

    ACE Bermuda Insurance Ltd. associate general counsel Joshua Schwartz began serving as the insurer’s regional compliance officer in 2011, ensuring the company complies with Bermuda and U.S. regulations, and also found time to mediate a high-profile bankruptcy settlement, work that won him a spot among Law 360’s top five insurance attorneys under 40.

  • March 23, 2012

    Tax Benefits Biased Under DOMA, Calif. Employees Say

    The Defense of Marriage Act unconstitutionally discriminates against the family choices of same-sex spouses and domestic partners by denying federal tax benefits for long-term care insurance, a class of California state employees told a federal judge Thursday.

  • March 23, 2012

    Judge Sees MBIA-Countrywide Trial Delay Of Up To 9 Months

    MBIA Inc.'s push to squeeze more documents from Bank of America Corp.'s Countrywide unit in the insurer's multibillion-dollar lawsuit over securitized mortgages that MBIA insured could delay the trial by six to nine months, a New York state judge said Friday.

  • March 23, 2012

    Insurer Can Leave Steelers Shirtmaker Uncovered In IP Scrum

    American Economy Insurance Co. does not have to cover a Pennsylvania T-shirt maker who lost a suit alleging his "Terrible T-shirt" infringed the famous Pittsburgh Steelers Terrible Towel trademark, a federal judge ruled Friday.

  • March 22, 2012

    HHS Calls Out Two Insurers For 'Unreasonable' Rate Hikes

    Two insurance companies have raised their premiums an “unreasonable” amount on individual and small group policyholders in nine states, the U.S. Department of Health and Human Services said Thursday, and called on the companies to rescind their rate hikes.

  • March 22, 2012

    Insurer Pays $11M To Settle Row Over Salmonella Recall

    Employers Fire Insurance Co. will pay $11 million as part of a larger settlement filed Thursday that resolves its coverage dispute with Basic Food Flavors Inc. and $34 million in claims against the flavor enhancer stemming from the recall of a salmonella-tainted product.

  • March 22, 2012

    Dukes Ruling Prompts Title Agent Class Decertification

    A federal judge on Thursday decertified a class of title agents seeking to exclude nonattorneys from acting as agents for several title insurance companies after the insurers argued the U.S. Supreme Court’s recent ruling in Wal-Mart Stores Inc. v. Dukes invalidated the class.

  • March 22, 2012

    Smithfield Seeks $326M For Factory Fire Started By Marine

    Smithfield Foods Inc. and its insurers on Thursday launched a suit against the U.S. government in California that they had previously filed in Wisconsin, trying again to recoup $326 million in losses from a fire at a pork processing plant that started when a U.S. marine fired a military-issue flare.

  • March 22, 2012

    JPMorgan Settles Action Over Forced Insurance Policies

    JPMorgan Chase & Co. settled a putative class action Wednesday in California federal court that accused the banking giant of fraudulently selling insurance policies to its customers without their permission and deducting the policies’ costs from their bank accounts.

  • March 21, 2012

    GOP Zeroes In On Agency Implementing Health Care Law

    Republican lawmakers took a nuts-and-bolts approach to attacking the president's health care reform law Wednesday in a hearing where they grilled the director of the agency charged with implementing many of the law's provisions.

  • March 21, 2012

    Insurers Stuck In Asbestos Duty-To-Defend Suit

    A Pennsylvania federal judge said Wednesday that insurers for General Refractories Co. could not exit the company's suit seeking coverage for underlying asbestos litigation, saying a meaningful dispute existed over the language of exclusions in the insurance policies.

  • March 21, 2012

    FDIC OK'd $8B In Failed Bank Official Suits Since 2009

    The FDIC on Wednesday said that it has filed lawsuits against 369 directors and officers of failed banks totaling nearly $8 billion, vastly outpacing lawsuit totals from before the recession.