Insurance

  • October 22, 2013

    Axis Off The Hook In Psychic Fight, 11th Circ. Says

    The Eleventh Circuit on Tuesday affirmed a ruling backing Axis Surplus Insurance Co.'s refusal to cover costs in a lawsuit brought by Psychic Friends Network co-host Linda Georgian alleging that a psychic telephone hotline used her likeness long after their endorsement deal ended.

  • October 22, 2013

    11th Circ. Says Law Firm Liable For $10M Over Film Project

    The Eleventh Circuit affirmed a lower court’s decision to hold the McCain Law Firm liable for $10 million a Saudi investor lost in a failed film project, saying Monday that the law firm hadn’t disclosed to its insurance company that it took the funds out of escrow.

  • October 22, 2013

    4 Hurdles For Hospitality Cos. Under The ACA's 30-Hour Rule

    The Affordable Care Act's definition of a full-time employee as one who works an average of 30 hours per week rather than 40 has big implications for hotels and restaurants with fluctuating workforces, and hospitality companies should use the next year to tackle four major compliance issues raised by the law, attorneys warn.

  • October 22, 2013

    Insulation Co. Sues 15 Insurers For Asbestos Coverage

    Contract insulation installer Eagle Inc. sued 15 insurance carriers in Louisiana federal court Tuesday in an effort to lock down the broadest possible coverage for waves of underlying asbestos injury suits.

  • October 22, 2013

    DC Metro Settles Insurance Fight Over Deadly 2009 Crash

    The Washington Metropolitan Area Transit Authority on Thursday settled a $9 million lawsuit accusing insurance adviser Aon Risk Services Inc. of failing to recommend a policy that would have shielded it from liability in a fatal 2009 crash.

  • October 22, 2013

    OneBeacon Off Hook In Fla. City's Construction Dispute

    A Florida federal court ruled Friday that reinsurer OneBeacon Insurance Co. did not have to reimburse an insurer for defense costs in a Florida city's billing fight with a contractor, after finding the insurer mistakenly provided coverage to the city under an errors and omissions policy.

  • October 22, 2013

    UnitedHealth Must Pay MRI Scan Claims, Suit Says

    UnitedHealthcare Services Inc. is facing a lawsuit arguing that it owes almost $200,000 in unpaid claims for insureds who received magnetic resonance imaging and computed tomography scan services from Image Connection LLC, according to a Monday filing in Texas state court.

  • October 22, 2013

    Cigna Can't Tag Its Insurers In ERISA Class Action, Judge Says

    A Pennsylvania state judge on Monday threw out an effort by Cigna Corp. to force its excess insurers to cover liability arising from a national class action brought by the company’s employees over benefit plan changes, ruling that coverage is barred by a fraud exemption.

  • October 22, 2013

    Ace Tells 6th Circ. Call Recordings Not Covered If Secret

    Ace Property & Casualty Insurance Co. asked the Sixth Circuit on Monday to revoke defense coverage that customer services provider Convergys Corp. won for two telephone recording class actions, saying alleged wiretapping alone doesn't implicate its policy.

  • October 22, 2013

    Goldman Passes UK Insurance Unit To Blackstone, Others

    Goldman Sachs Group Inc. said Tuesday it would unload a majority stake in U.K. pension insurance unit Rothesay Life to a group of big-name investment firms, making good on plans unveiled over the summer to shed the business to match new regulations.

  • October 22, 2013

    US Can't Duck Suit Over ACA Subsidies For Opt-Out States

    A Washington, D.C., federal judge said Tuesday that he won't dismiss a suit by small-business owners and individuals alleging that an Internal Revenue Service rule unlawfully expands Affordable Care Act insurance subsidies and penalties, but he declined to issue an order enjoining the rule. 

  • October 22, 2013

    White House Eyes Delay Of ACA Individual Mandate

    The Obama administration may soon announce a brief delay of the Affordable Care Act's individual mandate, a government source said Tuesday, a move that might calm complaints over glitchy health insurance exchanges and erase confusion over the deadline to find coverage.

  • October 21, 2013

    Insurance Cos. Withdraw Claims To $103M In Laundering Suit

    Several insurance companies have agreed to drop claims to $103 million in assets the U.S. seized from Lebanese Canadian Bank and others during an investigation into a money laundering and drug trafficking scheme tied to a terrorist group, according to documents filed in New York federal court Monday. 

  • October 21, 2013

    Insurer Fights For 6th Circ. To Rehear Indians Fan Death Suit

    The Sixth Circuit ruling that found CSI Insurance Group might be liable for the damages incurred by the Cleveland Indians Baseball Company LP after a spectator was killed at a pregame event improperly expands Michigan state law, the insurer said in a brief Friday.

  • October 21, 2013

    HHS Urges 11th Circ. To Enforce ACA Contraception Mandate

    The Department of Health and Human Services on Monday urged the Eleventh Circuit to let it enforce against Beckwith Electric Co. the Affordable Care Act’s requirement that employer-provided health insurance cover emergency contraceptives, arguing a district court injunction wrongly conflated the rights of the company and its owner.

  • October 21, 2013

    NAMIC Battles Proposed Changes In Insurance Accounting

    A large trade group representing insurers on Friday blasted a proposal to change financial reporting of insurance contracts, arguing that it would create unnecessary challenges and costs.

  • October 21, 2013

    Insurers, Mortgage Lender Challenge ResCap Ch. 11 Plan

    Objections to Residential Capital LLC’s Chapter 11 plan came piling in Monday afternoon challenging provisions that the opponents say prohibit claims against the fallen mortgage lender’s former parent and don’t allow adequate protection for insurers.

  • October 21, 2013

    Insurance Watchdog Seeks Input On Global Oversight Plan

    A global insurance watchdog on Friday released details on a proposed framework for coordinating oversight of large, internationally active insurers, seeking input on the plan from stakeholders while also ramping up efforts to ensure even implementation of its standards

  • October 21, 2013

    Pa. Attys Accused Of Squeezing Out Insurance Co. Owners

    Two shareholders in an automobile insurance business launched a lawsuit in Pennsylvania state court Friday accusing principals at Salaman Grayson PC of violating professional ethics rules by orchestrating a scheme to oust the company’s board of directors and assume managerial and ownership roles for themselves.

  • October 21, 2013

    US, Japan Open Talks On Auto, Insurance Barriers

    The U.S. and Japan started a round of discussions Monday concerning access to Japan's automotive and insurance markets, along with other thorny issues the two sides are aiming to address parallel to talks for the proposed Trans-Pacific Partnership.