Insurance

  • July 3, 2012

    Former La. Insurance Official Charged With Taking Bribes

    Federal prosecutors on Monday charged a former deputy commissioner at the Louisiana Department of Insurance for using his position to steer insurance business from municipalities in exchange for bribes.

  • July 3, 2012

    Benefits Broker Wants SEC Sanctioned Over Witness Subpoena

    Life insurance settlement broker Life Partners Holdings Inc. asked a Texas federal court Monday to sanction the U.S. Securities and Exchange Commission in its accounting fraud suit against Life Partners for allegedly improperly issuing a subpoena to obtain testimony from a witness.

  • July 3, 2012

    Retail Group Urges Obama To Fast-Track ACA Employer Regs

    A retail industry group on Monday urged President Barack Obama to prod his administration to release employer requirements under the health care reform law, claiming their delay jeopardizes the future of employer-sponsored health coverage.

  • July 3, 2012

    Jones Day Bolsters London Office With 2 New Partners

    Jones Day has expanded its global disputes practice in London with the addition of a Simmons & Simmons LLP partner specializing in financial and insurance litigation and a Crowell & Moring LLP partner specializing in commercial arbitration, Jones Day announced Friday.

  • July 2, 2012

    Opting Out Of Medicaid Expansion Is Tough Call For States

    The U.S. Supreme Court may have made it easier for states to opt out of the health care law's Medicaid expansion, but those states are now facing a knotty set of questions about how opting out could affect their hospitals, their residents and their budgets.

  • July 2, 2012

    Chubb Tells 5th Circ. Diet Aid Coverage Suit Is Time-Barred

    Chubb Custom Insurance Co. told the Fifth Circuit on Friday that it should have been granted summary judgment in a suit over $20 million in coverage in a settled class action against CSA Nutraceuticals GP LLC claiming its diet aid didn't work, saying CSA waited until a statute of limitations had expired to file its claims.

  • July 2, 2012

    EU Agency Calls For Kick-Start To Cyberinsurance Market

    A European cybersecurity agency on Friday proposed sparking growth in the continent's fledgling cyberinsurance market by allowing class actions over data breaches and requiring companies that bid on government contracts to carry insurance against cyber-risks.

  • July 2, 2012

    Contract Claim Survives In EquiTrust Fraud Class Suit

    A California judge on Monday rejected calls to trim a consumer class action accusing EquiTrust Life Insurance Co. of falsely marketing deferred annuities as having no sales fees, saying a breach of contract cause of action could move forward with fraud and unfair competition claims.

  • July 2, 2012

    Meat Supplier Must Cover Sizzler In E. Coli Suit, Court Says

    The Wisconsin Supreme Court on Friday affirmed that a meat supplier responsible for an E. coli outbreak that killed a 3-year-old girl owes Sizzler USA Franchise Inc. more than $7.1 million but needn't reimburse an insurer's payments on behalf of a franchisee.

  • July 2, 2012

    Title Insurance Customers Drop 3rd Circ. Rate-Fixing Appeal

    Title insurance purchasers in a price-fixing class action agreed Monday to drop their Third Circuit appeal of a ruling that a Pennsylvania law allows collective rate setting, preventing the plaintiffs from seeking damages from their insurers, including Fidelity National Title Insurance Co.

  • July 2, 2012

    Watchdogs Float Framework To Supervise Global Insurers

    The International Association of Insurance Supervisors on Monday unveiled its latest version of a framework for coordinating international supervision of large global insurers, a draft that a major insurance industry group says doesn't go far enough to nix duplicative regulations.

  • July 2, 2012

    9th Circ. Urged To Revisit Ruling On Mandatory Mental Care

    California health care industry groups on Thursday urged the Ninth Circuit to reconsider a recent ruling that found an anorexic woman was entitled to extensive residential care, saying it will vastly expand the services insurers must provide and cause rates to skyrocket.

  • July 2, 2012

    Ex-Agent Sues Allstate For $15M Over Agency Takeover

    A former Allstate Corp. insurance agent on Friday slapped the insurance giant with a $15 million breach of contract and fraud lawsuit, alleging the company methodically severed its yearslong relationship with him in order to redirect his business to a newer, younger agent.

  • July 2, 2012

    2nd Circ. Rules For Airline Insurers Over Lost Parts

    The Second Circuit on Monday upheld a New York federal judge's finding that nine insurers did not owe coverage to aircraft equipment lessor Fleet Business Credit LLC for the loss of parts rented to now-defunct airline Tower Air Inc.

  • June 29, 2012

    Ex-Stroock Partner Can't Get Retirement Benefits

    An arbitrator determined Wednesday that a former Stroock & Stroock & Lavan LLP securities and insurance partner was not entitled to receive retirement benefits under the partnership agreement after he withdrew from the firm to join Locke Lord LLP.

  • June 29, 2012

    Texas High Court Limits Coverage For Organ Charities

    The Texas Supreme Court ruled Friday that loss of the use of a deceased person's tissues, organs, bones and body parts by a next of kin or a deceased person's estate does not count as property damage covered under an insurance policy, dealing a blow to organ donation charities in the state.

  • June 29, 2012

    5th Circ. Frees Nautilus From Oil Project Coverage Fight

    Nautilus Insurance Co. does not have to pick up the tab for litigation over a botched oil drilling project brought against policyholder Downhole Navigator LLC after Downhole turned down the chance to be represented by attorneys hand-picked by the insurer, the Fifth Circuit ruled Friday.

  • June 29, 2012

    NJ Court Tosses Clinic's Benefits Suit Against Auto Insurer

    A New Jersey medical center's attempt to pursue class action claims that IFA Insurance Company illegally paid adjusters with personal injury protection funds was thwarted Friday when an appellate court said the company suffered no damages.

  • June 29, 2012

    Care Providers Wary Of States Bucking Medicaid Expansion

    An unexpected twist in the U.S. Supreme Court's health law ruling may make it easier for states to opt out of the law's Medicaid expansion, a prospect that health care providers say could do serious damage to their bottom lines.

  • June 29, 2012

    Consumer Class Actions Survive Brush With High Court

    Lost in the shuffle of the U.S. Supreme Court's landmark health care ruling Thursday was a decision not to rule on a case that could have severely limited the power of consumer advocates to bring class actions accusing corporations of violating a statute even if consumers suffered no direct financial harm.