Insurance

  • December 10, 2010

    HHS Clamps Down On Mini-Med Insurance Plans

    Health insurers will have to curtail sales of so-called mini-med plans and tell consumers that the plans only offer extremely limited benefits, new U.S. government guidelines say.

  • December 10, 2010

    Westport Must Cover Hotel's Negligence Suit Defense

    A federal judge has ruled that Westport Insurance Corp. has a duty to defend Choice Hotels International Inc. and VN Hotel Group LLC in a pair of lawsuits accusing them of neglecting sanitary conditions to the point that some guests developed Legionnaires' disease while staying at a Quality Suites in Orlando, Fla.

  • December 10, 2010

    Insurer Can't Shake Coverage Bid For Bondholder Suit

    A federal judge has shot down efforts by National Union Fire Insurance Co. of Pittsburgh, Pa., to revive a summary judgment bid and free the insurer from covering a $40 million settlement in securities litigation over a bankrupt Internet provider partially controlled by Cox Communications Inc.

  • December 10, 2010

    Bankrupt QOC Wins Approval Of Wells Fargo Deal

    The judge overseeing life insurance investment company QOC I LLC's bankruptcy proceedings has greenlighted a settlement with Wells Fargo Bank NA that will send substantially all of QOC's assets to a Wells Fargo affiliate and wrap up its Chapter 11 case.

  • December 10, 2010

    Merrill Lynch Squandered Funeral Investments: Suit

    Bank of America NA and subsidiary Merrill Lynch & Co. Inc. created a crisis in the funeral industry by wasting $100 million in funeral planning investments on junk life insurance policies, an Illinois funeral home claims in a new class action.

  • December 10, 2010

    Humana Drops Walgreen Drug Plan Comparisons Suit

    Humana Inc. has ended a recently filed suit that accused Walgreen Co. of spreading false information about the health insurer's drug plans through a Web feature for Medicare consumers, with the plan comparison feature at issue no longer available on the company's site.

  • December 9, 2010

    CSIC Sues Sanford Wittels Over Malpractice Defense

    An insurance unit of Alleghany Corp. has sued Sanford Wittels & Heisler LLP and a founding partner at the firm, saying it has no duty to defend or indemnify them for malpractice and breach of contract claims arising out of a race discrimination class action against the U.S. Department of Commerce.

  • December 9, 2010

    NJ Doctors To Take Health Reform Suit To 3rd Circ.

    A nonprofit doctors group in New Jersey has said it will appeal its challenge to the federal health care reform law's mandatory minimum insurance requirement, following a federal judge's dismissal of the case Wednesday.

  • December 9, 2010

    Senate Republicans Block 9/11 Health Bill

    U.S. Senate Republicans blocked a bill Thursday that would reopen the compensation fund set up for victims of the 9/11 attacks, limit the liability of contractors and their insurers, and improve medical monitoring for first responders who have developed illnesses from the toxic smoke and dust at the World Trade Center site.

  • December 9, 2010

    MetLife To Pay $2.3M In Wage Deduction Action

    A federal judge has granted initial approval on a $2.3 million settlement between Metropolitan Life Insurance Co. and insurance agents who alleged the company made improper deductions from their wages.

  • December 9, 2010

    6th Circ. Affirms Toss Of Blue Cross ERISA Action

    A federal appeals court has affirmed a lower court's decision to nix a putative class action against Blue Cross Blue Shield of Michigan, finding that the company was not acting as a fiduciary under the Employee Retirement Income Security Act when it negotiated a deal that resulted in higher rates for participants in its self-insured plans.

  • December 8, 2010

    Senate Delays Medicare Cuts To Doctor Rates By 1 Year

    The U.S. Senate reportedly passed a measure Wednesday that would prevent a cut in Medicare physician payment rates for one year.

  • December 8, 2010

    Rolls-Royce Defect Coverage Suit Dismissed In US

    A federal judge has dismissed a suit brought by Rolls-Royce PLC against 16 insurers over hundreds of millions of dollars in claims stemming from litigation over the allegedly defective Mermaid ship propulsion system, siding with the insurers' contention that the case should be tried in the U.K.

  • December 8, 2010

    LandAmerica Can Keep 'Privileged' Docs From CDC

    A bankruptcy court has stopped short CDC Glendale LP's quest for allegedly privileged documents in a suit against bankrupt title insurer LandAmerica Financial Group, ruling that the documents could compromise a LandAmerica trustee's proceedings against an insurer.

  • December 8, 2010

    Judge OKs Excess Insurer's Suit Against SafeNet

    A federal judge has ruled that Federal Insurance Co. can move forward with a suit against SafeNet Inc. that argues the cybersecurity company voided its right to $10 million of excess liability insurance when it settled a stock options backdating case with the U.S. Securities and Exchange Commission.

  • December 8, 2010

    Madoff Trustee Seeks $635M From UK Unit, UBS

    The trustee of the now-defunct Bernard L. Madoff Investment Securities LLC and his British counterpart have filed a complaint for $80 million in recoveries from parties connected to Madoff's London operation, as well as complaints against UBS AG for $555 million and a Madoff feeder fund tied to Massachusetts Mutual Life Insurance Co.

  • December 8, 2010

    AGL, Markel Off Hook For Intel Antitrust Defense

    A federal judge has ruled that two excess insurers have no duty to cover Intel Corp.'s defense in antitrust suits brought by rival Advanced Micro Devices Inc. and consumers, overturning his own earlier judgment in favor of the microprocessor giant.

  • December 8, 2010

    Citizens Claims No Indemnity In Uncommon IP Fight

    Citizens Insurance Co. of America has sued policyholder Uncommon LLC, seeking a declaration that it owes no duty to indemnify it for underlying trademark infringement allegations from furniture and jewelry seller UncommonGoods LLC.

  • December 8, 2010

    MBIA Targets Morgan Stanley In Latest MBS Suit

    In its ongoing litigation battle against major investment banks, MBIA Inc. has hit Morgan Stanley & Co. Inc. with a suit alleging that the bank misrepresented the quality of mortgages in a 2007 mortgage-backed securities offering that has cost the insurer more than $71.2 million in claims.

  • December 7, 2010

    Tronox Seals Bankruptcy Deals With Chartis, Others

    The judge overseeing Tronox Inc.'s bankruptcy reorganization has signed off on three agreements the pigment producer made in the days immediately following approval of its reorganization plan.