Insurance

  • February 10, 2016

    Texas Appeals Court Axes Atty Fees In Real Estate Blog Row

    A Texas appeals court found Tuesday that when a plaintiff drops claims to avoid having them dismissed as baseless under Texas law, this doesn't make the defendant a prevailing party entitled to attorneys' fees, tossing fees awarded to a real estate blog in a fight with the former president of a homeowners association.

  • February 10, 2016

    Yellen Says Insurance Capital Rules Likely Coming Soon

    Federal Reserve Chair Janet Yellen on Wednesday told members of Congress that she hopes her agency will release capital rules for insurers that it now oversees sometime in the near future.

  • February 10, 2016

    Ace Says Exclusion Applies In Facebook IPO Coverage Row

    Ace American Insurance Co. on Tuesday struck back against a fellow insurer’s bid to put it on the hook for part of Nasdaq’s $31 million settlement with a class of investors who sued over Facebook’s botched initial public offering, saying the evidence shows a policy exclusion applies.

  • February 9, 2016

    BofA To Pay $3M To Settle Homeowners' Insurance Suit

    An Oklahoma federal judge on Tuesday approved Bank of America NA's proposed agreement to pay $3 million to settle a putative class action accusing the bank of improperly holding back insurance payments from homeowners who needed them for property repairs.

  • February 9, 2016

    Geico Settles Fraud Suit Over Roadside X-Ray Vans

    A New York federal judge on Monday dismissed Geico’s suit against a number of health care providers over about $1.2 million in paid and pending claims for fraudulent X-rays provided out of roadside vans, saying the parties had settled the case.

  • February 9, 2016

    Fishing Co. Sues Chubb Over Denial Of Collapse Coverage

    Alaskan fishing company Copper River Seafoods Inc. sued its insurer, Chubb Custom Insurance Co., on Monday in Alaska federal court, saying the insurer refused to cover a May 2015 building collapse under a policy with a $15 million primary limit.

  • February 9, 2016

    Life Partners Investors Say Trustee Derailing Ch. 11 Plan

    Multiple creditors of Life Partners Holdings Inc. on Monday came out against its current Chapter 11 reorganization plan, with one informal group of investors telling a Texas bankruptcy court the estate trustee essentially forced their objection by insisting that he be appointed to control several trusts proposed in the plan.

  • February 9, 2016

    'Uber Bill' Passes 2nd Fla. Senate Committee Stop

    A bill that would require drivers of ride-hailing services such as Uber Technologies Inc. and Lyft Inc. to carry the same levels of insurance as traditional taxi companies passed its second committee stop in the Florida Senate on Tuesday.

  • February 9, 2016

    T-Mobile, Class Action Lead Slam Protest To $4.2M Deal

    T-Mobile USA Inc. and a woman who sued it over cellphone insurance joined forces Monday in urging a California federal judge to toss the lone protest to their $4.2 million class action settlement, saying the protester received sufficient notice and that his attorney is a "serial objector" who faces suspension.

  • February 9, 2016

    Calif. Court Axes Insurance Broker's Win In Negligence Case

    A California appeals court on Tuesday vacated a lower court decision freeing an insurance broker from a lawsuit alleging it negligently failed to secure fire coverage for a client's commercial building, holding that there are still factual issues regarding whether the client requested coverage before the blaze.

  • February 9, 2016

    Mom Allowed To Join Mental Health ERISA Suit Against UHC

    A California federal judge on Tuesday allowed a mother, who says her son died after United Behavioral Health refused to cover rehabilitation treatment, to join a proposed class action alleging the company’s mental health coverage practices violate the Employee Retirement Income Security Act.

  • February 9, 2016

    Beazley Says Ace Owes For Nasdaq's Facebook Settlement

    Beazley Insurance on Tuesday continued its push to force two other insurers to cover Nasdaq’s $31 million settlement with a class of investors who sued over Facebook’s bungled initial public offering, claiming that Ace American Insurance Co. can’t apply an exclusion from its policy to duck coverage.

  • February 9, 2016

    Ex-Fox Rothschild Atty Felled By Firm Policy Violations

    Evidence that a former Fox Rothschild LLP partner violated internal policies by buying and selling stock of a publicly held client likely helped sway Pennsylvania federal jurors on Friday as they found him guilty for trading ahead of an insurance industry merger the firm helped handle.

  • February 9, 2016

    Texas Court Revives Workers' Comp Bid In 'Imbecility' Case

    A Texas appellate court ruled Tuesday that a state judge had applied an overly restrictive definition of “imbecility” — a vague 100-year-old term used in a state law governing workers' compensation claims — and revived an injured man’s suit seeking benefits from Amerisure Mutual Insurance Co.

  • February 9, 2016

    Dave & Buster’s Can’t Duck Obamacare ERISA Class Action

    A New York federal judge on Tuesday said amusement chain Dave & Buster’s can’t duck a proposed class action over claims it slashed employees’ hours to avoid increased health care costs stemming from Obamacare, saying the employees have a case under the Employee Retirement Income Security Act.

  • February 9, 2016

    Investors Rip Genworth’s 'Recantation' Claims In IPO Suit

    A proposed class of Genworth investors asked a New York federal court not to toss their stock-drop suit over claims the insurer misled them ahead of delaying a subsidiary’s initial public offering in 2012, saying the “recantations” by two confidential witnesses the insurer is relying on were flimsy and unfairly obtained.

  • February 9, 2016

    AIG Unit Can't Escape Valspar Benzene Defense At 8th Circ.

    The Eighth Circuit on Tuesday refused to disturb a Minnesota federal judge's ruling that an American International Group Inc. unit has a duty to defend The Valspar Corp. in litigation brought by former employees and others over alleged benzene exposure injuries and to contribute to Continental Casualty Co. for defense costs that insurer already incurred.

  • February 9, 2016

    UnitedHealth Out Of Ammo To Fight Judge DQ Bid, Court Told

    A former doctor embroiled in litigation with UnitedHealth over the responsibility of insurers to pay for weight loss surgeries under worker health plans told a California federal court Monday that the insurer has no “valid rationale” to respond again to his push for disqualification of a judge.

  • February 9, 2016

    MusclePharm Says Liberty Unquestionably Owes For SEC Probe

    MusclePharm Corp. told a Colorado federal judge on Monday that its policy from Liberty Insurance Underwriters Inc. “could not more clearly cover” costs stemming from a U.S. Securities and Exchange Commission investigation into the sports nutrition company, resisting a motion for summary judgment.

  • February 8, 2016

    Insurer Needn't Front Impac Defense In MBS Suits, 9th Circ.

    The Ninth Circuit on Monday affirmed Houston Casualty Co. isn’t obligated to front defense costs to Impac Mortgage Holdings Inc. in a trio of actions over its purported mishandling of mortgage-backed securities offerings, rejecting Impac’s interpretation of a covered security in its directors and officers policy.

Expert Analysis

  • Price Optimization: 2015 In Review And A Look Ahead

    Thomas W. Curvin

    This year, the remaining states will join Maryland and 18 other states in issuing guidance to property and casualty insurers with respect to price optimization, while regulators' focus on big data may expand beyond price optimization to the use of big data in insurance rate-making, say attorneys at Sutherland Asbill & Brennan LLP.

  • Federal Rule Changes Should Not Affect Subpoena Practice

    Elizabeth Banzhoff

    Parties serving subpoenas may argue that the recent changes to party document discovery under Rule 34 should be read into nonparty subpoena practice under Rule 45, but — if history is any indication — they likely will not be, say Elizabeth Banzhoff and Amanda Tessar of Perkins Coie LLP.

  • REBUTTAL: When Insurance Policies Are Enforced As Written

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    A recent Law360 guest article argued that a Massachusetts appeals court interpretation of the “resulting loss” exception to a faulty workmanship exclusion in HP Hood v. Allianz Global supposedly rendered the exception “illusory.” That critique is clearly unfounded, say Jeffrey Weinstein and Jared Markowitz at Mound Cotton Wollan & Greengrass LLP.

  • How Insurance Mergers Could Affect Your Business

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    Market consolidation — which dominated the insurance industry last year and will likely continue this year — could have a dramatic impact on business coverage, especially in management liability lines such as directors and officers, cyber, fiduciary liability, and errors and omissions insurance, says Thomas Bentz at Holland & Knight LLP.

  • 3 Traits Of Best-In-Class General Counsel

    Cynthia Dow

    New research paints an interesting picture of the attributes that facilitate the success of best-in-class general counsel. For one, best-in-class general counsel are 36 percent more likely to cut through bureaucracy. This is an astounding finding given that GCs are generally seen as the greatest champions of rules and regulations, say Cynthia Dow and Melissa Swift of Russell Reynolds Associates.

  • FinCEN Cracks Down On Real Estate Secrecy

    Matthew D. Lee

    With the issuance of a little-known yet incredibly powerful anti-money laundering tool called a “geographic targeting order,” the Financial Crimes Enforcement Network has trained its sights on all-cash high-end real estate deals in New York and Miami. Depending on the quality of the information reported, FinCEN may well expand the geographic reach of these orders, say Matthew Lee and Jed Silversmith of Blank Rome LLP.

  • What The Demise Of Insurance Co-Ops Says About The ACA

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    2015 proved to be a financial challenge for consumer operated and oriented plans established under the Affordable Care Act, with 14 co-ops closing their doors and most of the rest placed in rehabilitation, likely leading to an increasingly unstable health insurance marketplace, says Cynthia Borrelli at Bressler Amery & Ross PC.

  • How Insurance Cos. Can Benefit From Innovative Outsourcing

    Brad L. Peterson

    Cloud computing has spawned a burst of innovation opportunities for insurers, like big data, cognitive computing and the Internet of Things, but traditional outsourcing models are not well suited to delivering the benefits of those innovations to insurers, say Brad Peterson and Mark Prinsley at Mayer Brown LLP.

  • 'Old School' Tools May Hinder Attorney Collaboration

    Clare Foley

    Collaboration is both commonplace and highly valued among legal professionals, yet the tools and methods that teams use to perform case analysis and deposition preparation can be frustratingly primitive. That’s one of the key findings of a recent litigation practices survey of 650 U.S. legal professionals, according to Clare Foley of Opus 2 International Inc.

  • 6 Types Of Legal 'Mumbo-Jumbo' Attorneys Must Avoid

    Martin A. Schwartz

    Lawyers may be offended that the product of their craft is not appreciated by the general population, but should they be offended if they draft their documents in a language other than modern English? Martin Schwartz of Bilzin Sumberg Baena Price & Axelrod LLP describes some common legalisms that make it difficult, if not impossible, for an ordinary English speaker to glean the substance of a legal document.