Insurance

  • May 26, 2015

    CMS To Update Managed Care For First Time In Decade

    The Centers for Medicare and Medicaid Services put forth a proposal Tuesday that would update the way managed care organizations are regulated for the first time in a decade in order to align the service with the experience provided by the private marketplace and Medicare Advantage plans.

  • May 26, 2015

    Fla. Senate Aims For Fast Action With Health Plan Tweaks

    The Florida Senate on Tuesday announced compromises in its proposal for expanding health coverage to more than 800,000 state residents, as the upper chamber looks to work rapidly toward a solution when the Legislature reconvenes for a special session next week.

  • May 26, 2015

    IRS Can't Tax Foreign Reinsurance Policies, DC Circ. Says

    The D.C. Circuit on Tuesday ruled that the Internal Revenue Service may not collect an excise tax on reinsurance policies between two foreign entities, saying there's no indication that Congress intended the tax to apply to completely foreign companies.

  • May 26, 2015

    Fluor Urges Calif. Justices To Rethink Henkel Insurance Ruling

    Fluor Corp. urged the California Supreme Court on Tuesday to rethink its 2003 ruling in Henkel Corp. v. Hartford, arguing in its asbestos coverage case against Hartford Accident and Indemnity Co. that the decision clashes with an 1872 insurance law governing liability amid corporate restructurings.

  • May 26, 2015

    ING Cuts Insurance Co. Stake With $1.3B Offering

    Dutch bank ING Groep NV said Tuesday it plans to sell about €1.18 billion ($1.29 billion) worth of shares in NN Group, an insurance company spun off from ING after its $13 billion bailout, continuing its regulator-mandated divestment of nonbanking interests.

  • May 26, 2015

    Guatemalan Banking, Insurance Group Files For $300M IPO

    The banking and insurance conglomerate that owns Banco Industrial SA, the largest bank in Guatemala, has tapped Cleary Gottlieb Steen & Hamilton LLP to help it raise up to $300 million in an initial public offering, the company said Friday.

  • May 26, 2015

    Lumber Liquidators Says Coverage Dispute Belongs In Wis.

    Lumber Liquidators Inc. urged a Virginia federal court Friday to dismiss Liberty Mutual Fire Insurance Co.'s suit challenging coverage for putative class actions over the retailer's sale of Chinese-made laminate flooring containing potentially dangerous levels of formaldehyde, asserting that the dispute should be heard in Wisconsin.

  • May 26, 2015

    Secure Income Sells Madame Tussauds Property For $512M

    Secure Income REIT has sold a central London tourist site occupied by popular wax museum Madame Tussauds to expansion-minded Taiwanese insurer Fubon Life Insurance for £332.5 million ($511.8 million), the company said Tuesday.

  • May 26, 2015

    Italian Insurer UnipolSai Pays $312M For Una's Hotel Biz

    Italian insurer UnipolSai Assicurazioni SpA said Monday it will drop €286.6 million ($312 million) to acquire Una SpA’s hotel management unit and real estate portfolio, allowing UnipolSai to diversify its business lines with a combination that creates a leading Italian hotelier.

  • May 26, 2015

    Pfizer MDL Plaintiffs Blast Bernstein Liebhard's Fee Bid

    The plaintiffs’ steering committee in the multidistrict litigation against Pfizer over its alleged illegal marketing of Neurontin for off-label use told a Massachusetts federal judge Friday that Bernstein Liebhard is seeking more money than it legally deserves.

  • May 26, 2015

    5 Insights From CBRE General Counsel Laurence Midler

    We keep a close eye on issues regarding conflicts of interest, professional negligence, privacy and trade secrets, as well as specific areas of employment. These topics are all germane to how CBRE operates its business, says Laurence Midler, executive vice president and general counsel at CBRE Group Inc.

  • May 22, 2015

    Centex's Atty Choice Claims Unripe, Calif. Court Affirms

    A California appellate court upheld a lower court's dismissal of Centex Homes' claims that a Travelers Cos. unit is manipulating its defense in an underlying construction defect suit, thereby entitling it to independent counsel, holding on Friday that the builder didn't sufficiently back up its allegations.

  • May 22, 2015

    Blue Cross Settles Aetna's $2B Antitrust Suit At 11th Hour

    Blue Cross Blue Shield of Michigan has reached an eleventh hour confidential deal with Aetna Inc. to end its rival’s $2 billion antitrust suit alleging Blue Cross harmed consumers by signing most-favored-nation contracts with hospitals, according to documents filed in Michigan federal court Friday.

  • May 22, 2015

    Mich. AG Asks High Court To Grant Workers' Comp Appeal

    Michigan's attorney general has told the U.S. Supreme Court that it should grant an appeal of a Second Circuit decision freeing two insurers from certain workers' compensation liabilities of previously bankrupt Delphi Corp., saying this exercise of judicial power supplanted the state’s administrative regime.

  • May 22, 2015

    Insurance Co. Balks At Allied Nevada Ch. 11 Disclosures

    Westchester Fire Insurance Co. took issue Friday with precious metal miner Allied Nevada Gold Corp.’s Chapter 11 plan disclosure statement, arguing that it appears to mistakenly presume that $52 million in surety bonds it provided can be assumed by the reorganized debtor without the insurance company’s consent.

  • May 22, 2015

    5th Circ. Pares Claims In Hurricane Ike Coverage Row

    The Fifth Circuit on Friday trimmed a couple's suit against Fidelity National Property & Casualty Insurance Co. over coverage for property damage from Hurricane Ike, holding that state law claims relating to the insurer's claims handling are preempted by federal law, but that those pertaining to the sale of the policy are not.

  • May 22, 2015

    Fla. Court Reverses Geico Loss, Punts On Estoppel Question

    A Florida appeals court on Friday agreed with Geico that a reversal in one denial-of-coverage suit over car accident injuries required the reversal of a “wait and see” case involving the same accident and the same policy, but it didn’t rule on the insurer’s request to relitigate without collateral estoppel.

  • May 22, 2015

    Faulty Work Precedent Applies Retroactively: W.Va. High Court

    The West Virginia Supreme Court has ruled its precedential holding that liability policies may cover defective construction can be applied retroactively, dealing Nationwide Mutual Insurance Co. a blow in a dispute over coverage for losses stemming from the collapse of an access road.

  • May 22, 2015

    Pa. Dems Back State's Intervention In Highmark, UPMC Row

    Democrat leaders of the Pennsylvania General Assembly fired off an amicus brief on Friday supporting the state’s bid to force the University of Pittsburgh Medical Center to reverse its decision ending a series of Medicare Advantage contracts between its hospitals and rival insurer Highmark Inc.

  • May 22, 2015

    Insurer Says Defective Jeep Caused Massive Calif. Wildfire

    An insurance company sued Chrysler Group LLC on Thursday in federal court, alleging that the automaker caused a massive California wildfire that consumed 7,000 acres and destroyed 122 homes by failing to recall an allegedly defective Jeep Wrangler that it claims sparked the blaze.

Expert Analysis

  • Beyond Standing: Economic Experts In Breach Class Actions

    Mike Kheyfets

    The variety of the claims made in the 17 data breach class actions brought against Anthem Inc. and the sizes of the proposed classes underscore the importance of rigorous expert analysis at the class certification stage, says Mike Kheyfets of Edgeworth Economics LLC.

  • Court-Appointed Experts — A Powerful But Rarely Used Tool

    Philip Woo

    The Tessera Inc. patent case highlights a useful procedure seldom used in the federal court system — Federal Rule of Evidence 706, which allows for a court-appointed expert. But Rule 706 provides little guidance on when to use such an expert, how to select one or how to work with one. Here are some tips, say Philip Woo and Nathan Greenblatt of Sidley Austin LLP.

  • A Long Arm And Short Leash For Coverage Territory Clauses

    Walter J. Andrews

    Policyholders should be mindful of the potential reach and limitations that coverage territory provisions — and court interpretations of such provisions — can have on available coverage in order to determine whether to negotiate an endorsement to their policies or to purchase additional coverage, say Walter Andrews and Matthew McLellan of Hunton & Williams LLP.

  • Insurer Considerations On ACA Narrow Exchange Networks

    Lauren D’Agostino

    Looking to strike a balance between offering insurance products in accordance with the Affordable Care Act with attractive premiums while adhering to narrow exchange network adequacy standards, insurers must assess consumer price sensitivity versus network size and consider if increased patient volume will offset reduced payment rates, say attorneys at McDermott Will & Emery LLP.

  • Fla. Breathes New Life Into Assisted Living Reform

    I. Paul Mandelkern

    After several years of trying, the Florida Legislature recently passed comprehensive assisted living facility reform which will significantly impact the licensure and operation of assisted living facilities, says Paul Mandelkern of Lowndes Drosdick Doster Kantor & Reed PA.

  • Texas High Court Clarifies Multiple Perils Coverage Scope

    David B. Winter

    Although the Supreme Court of Texas' recent ruling in JAW the Pointe LLC v. Lexington Insurance Co. dealt with the common example of wind and flood damage, the holding can be applied to any case where an anti-concurrent causation provision is present, says David Winter of Zelle Hofmann Voelbel & Mason LLP.

  • Pros And Cons Of Telematics, Usage-Based Auto Insurance

    John Pitblado

    Recently, auto insurers have discovered telematics as a means for better understanding the risks they are insuring. Information about actual driving experience allows insurers to much more accurately price their products and predict risks, says John Pitblado of Carlton Fields Jorden Burt.

  • Law Firms Could Learn A Lot From The NFL Draft

    Mark Levin

    The NFL draft is the culmination of months of research and often years of watching top player prospects, all in the hopes of making the right decision on draft day and assembling the right athletes for a shot at a championship season. Law firm management, does this sound familiar to you? asks Mark Levin, co-founder of The Right Profile LLC and a former chief business development officer for two Chicago law firms.

  • MassMutual Case May Pave Way For Earlier Tax Deductions

    Alan J.J. Swirski

    Massachusetts Mutual Life Insurance Co. v. U.S. is important because it confirms that, under the right circumstances, a guaranteed minimum amount of a liability payable to a class of recipients can be deductible in the year the liability is declared, even though it may not be known until after the year ends who in the class will actually receive a payment or how much they will get, say attorneys at Skadden Arps Slate Meagher & Flom LLP.

  • To Certify, Or Not To Certify, That Is The Question

    Charles M. Cannizzaro

    While interjurisdictional certification may seem like a great solution for murky and debatable issues of state law, it often requires a heightened attention to detail and a sophisticated understanding of appellate rules. Once appellate lawyers initiate this process, they also risk losing control over the issues presented and the ability to moot an issue on appeal, says Charles Cannizzaro of Robins Kaplan LLP.