Insurance

  • April 17, 2014

    Debating ALI's Take On Pro Rata And All Sums Methods

    Whether the American Law Institute should back the pro rata or all sums method for allocating long-tail claims across multiple policy periods, is one of the high-stakes questions stirring up debate ahead of the body's annual meeting in May, when members will mull the latest draft of the ALI's liability insurance principles.

  • April 17, 2014

    Embattled Fla. Judge Sues Commission Over Ethics Probe

    The Florida judge whose removal was recommended Tuesday by the state's Judicial Qualifications Commission because of her involvement as an attorney in a $14.5 million settlement with an insurer has now sued the JQC, claiming its investigation violated her due process rights.

  • April 17, 2014

    Prudential's $2B RMBS Suit Against BofA Mostly Survives

    Most of the claims lodged by Prudential Insurance Co. alleging Bank of America Corp. sold it $2 billion in fraudulent residential mortgage-backed securities survived a motion to dismiss Thursday in New Jersey federal court.

  • April 17, 2014

    Insurers Can Rescind $20M From Fraudster's Firm, Judge Says

    A California federal judge on Monday let four insurers rescind $20 million of commercial crime policies issued to Namco Financial Exchange Corp., a bankrupt real estate firm whose founder was convicted of fraud, finding that Namco had lied on its insurance applications.

  • April 17, 2014

    TIG Sues NHL, 11 Insurers Over Concussion Injury Coverage

    TIG Insurance Co. on Tuesday sued the National Hockey League and nearly a dozen insurers in New York state court, contesting that it owed coverage for two class actions brought by hockey players over concussion injuries.

  • April 17, 2014

    New Zurich American HQ Pulls In $333M In Financing

    St. Louis construction firm Clayco Inc. and landlord Stonemont Financial Group LLC secured more than $333 million to fund land acquisition and development for insurance giant Zurich American Insurance Co.’s new North America headquarters outside Chicago, financing arranger Jones Lang LaSalle announced Wednesday.

  • April 17, 2014

    LeClairRyan Bags Seasoned Med Mal Trial Lawyer In NYC

    LeClairRyan has snagged an experienced McAloon & Friedman PC medical malpractice trial lawyer, who's also a former New York City criminal prosecutor, to join its medical malpractice defense and health care teams, the firm said Monday.

  • April 17, 2014

    ACA Sign-Ups Hit 8M In Win For Health Care Industry

    President Barack Obama announced Thursday that 8 million Americans found private health insurance during the Affordable Care Act’s first open enrollment period, a big win for drugmakers, insurers and hospitals that helped bankroll the law and ended up with more new customers than most expected.

  • April 17, 2014

    AIG, Auto Firms, Homeowners Drove $27B Bailout Loss: CBO

    The Congressional Budget Office on Thursday said the unprecedented 2008 federal bailouts will end up costing the government and taxpayers $27 billion, with most of those losses stemming from assistance to American International Group Inc., General Motors Co., Chrysler LLC and homeowners rather than to banks.

  • April 17, 2014

    Monmouth, Ocean Counties Seeing Most NJ Sandy Suits

    New Jersey state courts have seen at least 1,011 cases stemming from Hurricane Sandy since the storm struck in October 2012, with the hard hit, shore-area counties of Ocean and Monmouth bearing the bulk of those actions, according to figures provided by the judiciary Thursday.

  • April 17, 2014

    TRIA Changes Won't Shake Up Market, Working Group Says

    President Barack Obama's working group for financial markets said Thursday that letting the Terrorism Risk Insurance Act's federal reinsurance program expire would make terrorism insurance more expensive and less widely available, but also that insurers could gradually shoulder more responsibility.

  • April 17, 2014

    Auto Shops Fight State Farm's Bid To Exit Antitrust Suit

    A group of car repair shops on Thursday in a Florida federal court fired back at bids to dismiss their antitrust suit against State Farm Mutual Automobile Insurance Co., Allstate Insurance Co. and other insurers, contending that their allegations that the insurers conspired to drive down repair costs are supported by sufficient facts.

  • April 17, 2014

    Calif. Officials Approve Autism Coverage Regulation

    California officials have approved a regulation requiring health plans to cover behavioral health treatments for autism, proposed last year after allegations that some insurers had declined coverage for such treatments in spite of state law, the state’s insurance regulator announced Wednesday.

  • April 17, 2014

    Pfizer, Kaiser End Neurontin Off-Label Suit With Fee Deal

    Pfizer Inc. agreed on Wednesday to settle the remaining claims for attorneys’ fees in Kaiser Foundation Health Plan Inc.’s suit against the drugmaker in multidistrict litigation over the allegedly deceptive marketing of Neurontin, after the First Circuit determined that the off-label prescriptions harmed Kaiser and others.

  • April 17, 2014

    Conn. Looks To Police Hospital-Doc Tie-Ups More Strictly

    Connecticut's attorney general on Wednesday issued a wide-ranging report spotlighting potential antitrust concerns and consumer price-gouging stemming from hospital acquisitions of physician practices, calling on state lawmakers to pass two bills aimed at protecting the pocketbooks of patients with private health coverage.

  • April 17, 2014

    Female Powerbrokers Q&A: Dorsey's Annette Jarvis

    A woman associate asked how I was able to get the men in my firm to listen to me and to be deferential. I laughed and informed her that I had mentored and trained them all, says Annette Jarvis, head of Dorsey & Whitney LLP's Salt Lake City office and a member of the firm's management committee.

  • April 17, 2014

    Female Powerbrokers Q&A: Jenner's Barbara Steiner

    Figure out what you want to be “famous” for and figure out a game plan to get yourself there. Don’t assume the assignments you want will fall into your lap, and don’t assume that when you do good work or achieve some success, people will know about it, says Barbara Steiner, co-chairwoman of Jenner & Block LLP's complex commercial litigation practice.

  • April 17, 2014

    EQT Must Defend Drilling Subcontractor In Fracking Suit

    An Ohio federal judge on Wednesday ruled that natural gas well owner Equitable Production Co., now known as EQT Production Co., must defend its drilling subcontractor in settled litigation over alleged fracking fluids contamination, finding that the drilling contract requires EQT to defend against any contamination claims.

  • April 17, 2014

    Aspen Seeks Poison Pill After Rival's Hostile $3.2B Offer

    Aspen Insurance Holdings Ltd. said Thursday its board approved a shareholder rights plan to ward off unwanted takeover offers, a move that came just three days after it rejected a $3.2 billion buyout offer from rival insurer Endurance Specialty Holdings Ltd.

  • April 16, 2014

    Allstate Wins Atty Records Bid In Health Care Kickback Suit

    A California judge on Wednesday ruled that an attorney can't block Allstate Insurance Co. from obtaining records of payments made from Allstate through the attorney's office to Prima Care Medical Group Inc., which the insurer alleges engaged in a kickback scheme to defraud insurers.