The trustees of the defunct Newark Watershed Conservation and Development Corp. alleged in a bankruptcy filing Monday that the agency's insurer wrongly denied it coverage of claims that corruption and mismanagement by its board members, employees, vendors and outside professionals forced the agency into insolvency.
Airlines sued by World Trade Center Properties LLC in connection with the 9/11 attacks have asked a federal court not to recalculate how much money the property developer collected from insurers after the attacks, saying a Second Circuit ruling last year upheld the court’s initial calculations.
The U.S. Supreme Court on Monday declined to review a Ninth Circuit’s panel’s ruling on how to determine whether an employer is responsible for a predecessor’s liability for withdrawing from a pension plan under a federal law.
An ammonium nitrate maker that has been bombarded with litigation alleging a deadly 2013 explosion at a Texas fertilizer plant was caused in part by its product turned the tables on Friday, accusing three of its insurers of unfairly refusing to cover the company’s defense costs.
Allied World National Assurance Co. continued to urge the Ninth Circuit on Friday to overturn a lower court's ruling that it can't recoup nearly $8 million it paid to defend St. Luke's Health System Ltd. in a Federal Trade Commission antitrust suit, asserting that the claims against the hospital network are excluded from coverage.
A Rhode Island federal judge on Friday allowed Ironshore Specialty Insurance Co. to proceed with a claim that Columbia Casualty acted in bad faith by failing to settle a medical malpractice action against a hospital within its policy limits, which ultimately led the insurers to resolve the case for $31.5 million following a hefty jury verdict.
The outline for insurance company capital regulation that a top Federal Reserve official unveiled Friday showed that compliance costs may not be as high as feared, but questions remain about whether the Fed is going to impose bank-like regulation on an industry with different risks.
Bank of America Corp. on Friday asked a Pennsylvania federal judge to dump a proposed class action over alleged kickbacks garnered from overpriced mortgage insurance, saying that the Racketeer Influenced and Corrupt Organizations Act suit came too late.
A Michigan federal judge freed the state’s Blue Cross Blue Shield affiliate Thursday from a tribe's claims that hidden fees tacked on to employee benefit costs violated the Employee Retirement Income Security Act, saying the tribe’s effort to bundle ERISA and state-law claims involved “contradictory” arguments.
A Ninth Circuit panel on Thursday affirmed a lower court ruling that an insurance company’s dispute with the New Orleans Saints over an injury settlement for former National Football League offensive lineman Jim Rourke doesn't belong in court and sent the case for a hearing before a workers’ compensation board.
The Eighth Circuit affirmed Friday that a Minnesota bank is entitled to coverage under a BancInsure financial institution bond for a loss due to a fraudulent transfer carried out by a hacker, finding that, although bank employees failed to secure a computer network, the hacker's criminal acts were still the main cause of the loss.
The U.S. Federal Trade Commission and the state of Pennsylvania on Thursday urged the Third Circuit to halt two hospitals from merging after a district judge signed off on the plan, saying that he overlooked the reality that the tie-up would force insurers to pay higher rates to gain access to the hospitals.
RXR Realty LLC has finalized a deal to purchase 1285 Sixth Ave. in New York from an AXA Financial-JPMorgan joint venture for a whopping $1.65 billion in one of the year's largest U.S. real estate deals, a source with knowledge of the matter told Law360 on Friday.
A Florida jury’s finding that security company Tyco wasn’t liable to Eli Lilly’s insurer for the theft of $60 million in Prozac and Zyprexa from the pharmaceutical giant’s Connecticut warehouse was overwhelmingly supported by the evidence and shouldn’t be overturned, Tyco told a Florida judge Thursday.
An Illinois federal judge has issued a directed verdict letting AIG subsidiary Lexington Insurance Co. escape a $7 million payment to Horace Mann Insurance Co., which was hit in 2011 with a bad faith claim stemming from an auto accident but failed to properly notify its insurer.
A warehouse company must face a suit seeking reimbursement for a $55 million claim a CNA Financial Corp. insurance unit paid to a company that had its property destroyed by a fire while leasing a warehouse, an Ohio federal judge said Thursday.
Westport Insurance Co. on Thursday hit back at Stevens & Lee PC’s claims in Pennsylvania federal court that the insurer has acted inappropriately in its efforts to void a $10 million malpractice policy, saying it's been defending the firm against claims stemming from work on a class action against bankrupt AgFeed Industries Inc.
A bill intended to give the state of New Jersey greater oversight of ride-hailing businesses like Uber and Lyft and establish industry safety and consumer protection standards was released from an Assembly committee Thursday after lengthy discussion over thorny issues like driver background checks and data collection.
Cleveland Construction Inc. sued Stellar Group Inc. and Liberty Mutual Insurance Co. in Georgia federal court Thursday over a $7.5 million U.S. Army base subcontract that Cleveland says Stellar never fully paid it for.
Ace American Insurance Co. was hit with a Texas federal court suit Wednesday slamming the insurer for refusing to defend a recruitment company against claims brought by the family of a worker killed during a 2013 terrorist attack at a BP plant in Algeria.
The combined potential tax savings, premium savings and underwriting savings may or may not outweigh the burdens of forming and operating a captive insurer specifically to insure cyber liability. But there are enough possible cost-saving variables that companies frustrated with the commercial cyberinsurance market may find it an option worth investigating, says John Pitblado at Carlton Fields Jorden Burt PA.
Corporate legal departments are in the midst of a “golden age,” while law firms are feeling the squeeze. Let's take a look at the causal connection, says Mark A. Cohen, an adjunct professor at Georgetown Law School and founder of Legal Mosaic LLC.
Insurers have increasingly adopted provisions within general liability policies that provide for "wasting limits" — provisions that reduce the available limits of coverage as defense costs are incurred — but though such policies provide certainty for insurers with regard to how much will be spent on defense, the policies may expose the insurer to bad faith liability, says Rory Jurman at Fowler White Burnett PA.
New York workers who have been hurt on the job already struggle to make ends meet with payments provided by the state's current workers’ compensation system. Although recently defeated, New York Gov. Andrew Cuomo's suggested changes to the program — which would create additional limitations on worker's compensation benefits — will likely be part of legislature and lobbying again this year, says Brian Mittman at Markhoff & Mittman PC.
Though the Federal Rules of Civil Procedure prohibit and courts discourage boilerplate objections to discovery requests, attorneys continue to include these types of objections in their discovery responses, especially during insurance litigation, says Jennifer Hoffman at Zelle LLP.
The opportunity presented by the cyberinsurance market intersects a period in history where brokers are facing ever greater errors and omissions risk as they market themselves more and more as providing specialized expertise, and this risk is only enhanced by the dynamically changing nature of the type and scope of risk presented by the cyberinsurance industry, say attorneys at Golberg Segalla LLP.
It is time for the “repeat players” in securities litigation defense — insurers, defense lawyers and economists — to make some fundamental changes to how we do things. Unless some changes are made, securities litigation will pose greater and greater risk to individual directors and officers, says Douglas Greene of Lane Powell PC.
For most observers, questions about the proposed Anthem-Cigna merger can be boiled down to this: How will these combinations affect the cost and quality of health care services? When it comes to this question, evidence suggests that the critics of this merger are off base, say Maurice Stucke and Allen Grunes, co-founders of The Konkurrenz Group and former federal prosecutors.
In Darwin National Assurance v. Fahy Choi — an unfortunate case involving a New Jersey lawyer who committed suicide — Darwin avoided having to cover the attorney’s estate for legal malpractice claims because its policy with Fahy Choi included a prior knowledge condition, which gave the company leverage in negotiating a settlement, says Curtis Cooper at Lawyers Insurance Group.
Even complex patent and class action cases have not knocked the Eastern District of Virginia off the medal stand when it comes to remaining the fastest trial docket in the nation. Yet it can’t be overlooked that the No. 1 rocket docket has also slowed down a bit. In his annual review, Hunton & Williams LLP partner Robert Tata looks at the numbers and what some Virginia judges have to say about them.