A putative class action pending in Florida federal court against HCA Holdings Inc. for alleged overcharging of patients' personal insurance protection at one of its Florida hospitals has been expanded to include two additional facilities in the state.
The judge presiding over Detroit’s bankruptcy case said Monday that the city will likely find out in less than three weeks if it can exit the largest Chapter 9 in history under a plan that would erase more than $7 billion in debt and reinvest in essential services to reverse a half-century of civic decline.
The initial public offering for Australian state-owned health insurer Medibank Private is expected to be worth AU$4.3 billion to AU$5.5 billion (US$3.7 billion to US$4.8 billion), making it one of the top 100 companies on the Australian Securities Exchange and a potential magnet for foreign investors, the government said Monday.
A New York state judge has ruled that Century Indemnity Co. must use a pro rata allocation formula to determine cleanup costs for polluted manufactured gas plant sites on Long Island, New York, in a 17-year-old dispute pitting Century and others against current policyholder KeySpan Corp.
In a flurry of decisions Friday, same-sex couples can now marry in Alaska and Arizona, while a federal judge in Wyoming struck down that state’s gay marriage ban, but stayed the ruling for a week pending an appeal.
A Florida federal judge on Thursday denied Guarantee Insurance Co.'s bid for sanctions against its insurance agent and broker over alleged discovery violations, ruling the defendants had not acted in bad faith in the dispute over the handling of an underlying workers’ compensation claim.
Massachusetts Mutual Life Insurance Co. on Friday asked a federal judge to cancel JPMorgan Chase & Co.’s trademarks for its “SmartRetirement” services and called for a declaration that the insurer’s own retirement services under the name "RetireSmart" don’t infringe those marks.
Former American International Group Inc. CEO Edward Liddy argued Friday that the only alternative the company had to accepting the Federal Reserve’s “relatively harsh” 2008 bailout offer was bankruptcy, saying even with its stringent conditions shareholders had ultimately benefited from the deal.
MetLife Inc. faces an uphill battle in its challenge to its proposed designation as a systemically important financial institution subject to Federal Reserve oversight, given factors such as the highly deferential standard of review favoring federal regulators, experts say.
American International Group Inc. on Tuesday bashed the IRS for alleging that several transactions AIG used for foreign tax credits lacked economic substance, telling the Second Circuit the doctrine doesn't apply to the $306 million refund fight because the company complied with congressional standards.
Two United HealthCare Services Inc. units could face $2.5 billion in damages at a trial beginning Monday in Nevada over allegations they exposed customers to hepatitis C by knowingly referring them to contaminated endoscopy clinics, after a similar trial last year resulted in a historic $524 million verdict.
Northrop Grumman Corp. has dropped claims against Travelers Indemnity Co. for coverage of environmental cleanup costs at two southeast U.S. sites, according to a Thursday order filed in New York federal court, as the parties prepare for settlement discussions concerning other sites along the East Coast.
International insurance giant Old Mutual PLC is set to acquire private equity-backed investment manager Quilter Cheviot for up to £585 million ($941.2 million), the companies said Friday, moving Old Mutual one step closer to its goal of becoming a leading wealth management player in the U.K.
Genesis Merchant Partners LP, a fund seeking security interests on a mortgage and in a portfolio of 23 life insurance policies, hit Gilbride Tusa Last & Spellane LLC with a negligence and breach of contract suit in Manhattan on Wednesday, claiming the firm was "completely oblivious" to the process and cost the fund some $85 million.
The West Virginia Supreme Court ruled Wednesday that an insurance company must pay $3 million in addition to a global settlement of the same amount over malpractice claims brought against a surgeon employed by United Health Professionals Inc., finding the settlement didn't exhaust the company's policy.
An Ohio federal judge on Thursday kept alive the bulk of a $650 million suit claiming JPMorgan Chase Bank NA discarded internal risk guidelines to sell billions of dollars in securitized mortgage loans, finding that most claims are timely and contain enough detail.
Former American International Group Inc. CEO Edward Liddy on Thursday defended the company’s close relationship with the Federal Reserve following the insurer’s 2008 bailout, arguing that AIG had not acquiesced to every Fed request and that the “partnership” had benefited the company.
A magistrate judge on Thursday advised a New York federal court to sanction an attorney who had made unsupported False Claims Act allegations by tossing his qui tam suit accusing companies including Allstate Insurance Co. and FedEx Corp. of Medicare fraud.
A Minnesota federal judge on Wednesday declined to allow two insurers to immediately appeal his refusal to take the duo off the hook for covering part of U.S. Bancorp’s $55 million class settlement of overdraft fee litigation.
The Fifth Circuit on Thursday dismissed Texas Brine Co. LLC’s appeal seeking a stay in a $50 million coverage battle over claims arising from a class action that accused the salt producer and an oil and gas company of causing a sinkhole, ruling the court does not have jurisdiction to hear the challenge.
The recent pro-coverage ruling in RSUI Indemnity Company v. Sempris LLC and Provell Inc. is due to the case's factual differences, which were critical against a backdrop of strong Delaware precedent supporting a broad interpretation of common “relatedness” policy language, says Jan Larson of Jenner & Block LLP.
In the wake of the Affordable Care Act, plaintiffs’ attorneys will likely use Section 510 of the Employee Retirement Income Security Act to sue employers that have reduced hours to limit their own liability under the employer mandate — such suits may even expose employers to class action liability, say attorneys at Epstein Becker & Green PC.
California policyholders should be aware that insurers may utilize Section 10088 of the state insurance code as a basis to argue for the application of earthquake exclusions in a variety of circumstances, say John Hagan and Ngofeen Mputubwele of K&L Gates LLP.
The Federal Courts Jurisdiction and Venue Clarification Act grants a federal district court discretion to permit removal after the one-year period if it finds a plaintiff has “acted in bad faith” to prevent removal, but it didn’t come with a clear definition of "bad faith." Recent case law offers some minimal guidance on how the exception should be interpreted, say Ugo Colella and Todd Seaman of Thompson Hine LLP.
A recent consent order from the Consumer Financial Protection Bureau against Lighthouse Title Inc. raises troubling questions about how the agency interprets Section 8 of the Real Estate Settlement Procedures Act, and at the same time, provides several significant reminders about what not to do in structuring and entering into a marketing services agreement, say Phillip Schulman and Holly Spencer Bunting of K&L Gates LLP.
The New Jersey Supreme Court's recent decision in IMO Industries Inc. v. Transamerica Corp. underscores the continued applicability of the court's observation on environmental coverage law with respect to allocation — just as one important issue is resolved at least two new issues rise to take its place, says Scott Seaman of Meckler Bulger Tilson Marick & Pearson LLP.
Surely the epitaphs for the financial guaranty insurance industry were not penned prematurely. Certainly those insurance companies must have the good grace to comprehend that their day has passed. Yet the expectations — nay the certitude — of market-watchers appears likely to be foiled, says Jeffrey Stern, leader of the structured products group at Pillsbury Winthrop Shaw Pittman LLP.
Recently, the clear trend has been for courts to narrow insurers’ restitution/disgorgement defense considerably. A Minnesota federal court's decision in U.S. Bank v. Indian Harbor Insurance Co. takes the trend one step further, rejecting the defense outright, say Peter Gillon and Vernon Thompson Jr. of Pillsbury Winthrop Shaw Pittman LLP.
Recent publicly released payment data on health care practitioners by the Center for Medicare & Medicaid Services has the potential to thwart whistleblower suits under the False Claims Act, because the law's public disclosure bar mandates the dismissal of any action, says Scott Grubman of Rogers & Hardin LLP.
Policyholders litigating in a jurisdiction where the law regarding allocation is undecided should be aware of a perception by some courts that an all sums approach is unfair and remind them that the insurer drafted the policy and that no single insurer will actually be left with an obligation to cover all sums, say David Elkind and Daniel Streim of Orrick Herrington & Sutcliffe LLP.