Insurance

  • July 5, 2012

    Calif. Assembly Advances 2 Health Bills Expanding On ACA

    Days after the U.S. Supreme Court upheld the Patient Protection and Affordable Care Act, two high-profile health care reform bills — one that would set essential health benefits for Californians under the ACA and one that would reform individual coverage in the state — cleared a state Assembly committee on Tuesday.

  • July 5, 2012

    NY GOP Could Still Shape Health Insurance Exchange

    New York Republican lawmakers who refused to create a health benefits exchange — forcing Gov. Andrew Cuomo to do so via executive order — could still have a say in the future of the exchange even after the U.S. Supreme Court dashed their hope that the nation's health reform law would be swept away, experts said Thursday.

  • July 5, 2012

    Calif. Insurance Head Vetoes Blue Shield's Policy Shutdown

    California Insurance Commissioner Dave Jones on Tuesday denied Blue Shield of California's plan to close several of its health policies to new customers, saying it violated state rules designed to protect consumers from large rate increases.

  • July 5, 2012

    Fla. High Court Ends 48-Hour Lockout For Claims Adjusters

    Florida's highest court on Thursday affirmed an appeals court's nullification of a 2008 law that forced public insurance adjusters to wait until 48 hours after a catastrophic event to contact potential claimants.

  • July 5, 2012

    Obama Says Health Care Law Is 'Here To Stay'

    Speaking in Ohio one week after the U.S. Supreme Court upheld the bulk of his Patient Protection and Affordable Care Act, President Barack Obama told supporters the health care reform law isn't going anywhere but left the door open to improvements.

  • July 5, 2012

    Concrete Co. Seeks $2.4M From Army Contractor, Insurers

    Rebarco Inc. sued CH2M Hill Constructors Inc. in North Carolina federal court Wednesday, claiming it was stiffed out of $2.4 million worth of subcontracting work on a $53 million construction project at a U.S. Army base in Fort Bragg, N.C.

  • July 5, 2012

    UK Insurer Aviva To Narrow Focus, Shed 16 Business Units

    The U.K.'s second largest insurer, Aviva AV, announced a new strategy for the company Thursday to narrow its focus and improve its financial performance, including shedding 16 business segments, about a third of its businesses.

  • July 5, 2012

    Insurer Sues MGA For Slice Of $140M Bratz Fees Award

    Following the lead of four other MGA Entertainment Inc. insurers, Evanston Insurance Co. has launched a suit in California to recover part of the $140 million in attorneys' fees and costs that MGA won in its Bratz trade secrets war with Mattel Inc.

  • July 5, 2012

    Westchester, Anco Settle Asbestos Claims Coverage Suit

    Anco Insulations Inc. and two of its primary insurers told a Louisiana federal judge on Tuesday they had resolved their claims that excess insurer Westchester Fire Insurance Co. failed to cover its part of the cost Anco racked up fighting asbestos litigation.

  • July 3, 2012

    Health Insurer Says Computer Fraud Policy Covers $18M Scam

    Attorneys for health insurance company Universal American Corp. on Tuesday told a New York state judge that language in a computer fraud policy issued by National Union Fire Insurance Co. of Pittsburgh clearly provides coverage for losses incurred in an $18 million Medicare-related fraud.

  • July 3, 2012

    EU Floats New Consumer Financial Protection Regs

    The European Commission on Tuesday unveiled consumer protection legislation to simplify disclosures and tighten guidance requirements related to investments and insurance products, taking cues from sweeping U.S. financial reform in an attempt to harmonize EU member state regulations.

  • July 3, 2012

    Medicare Likely Pays Twice for Hospice Drugs, Audit Says

    A government watchdog said Tuesday that Medicare could be paying twice for prescription drugs for hospice patients, claiming that Medicare's prescription drug plan paid nearly $34 million for such drugs in 2009 that should have been covered under traditional Medicare insurance.

  • July 3, 2012

    Greenberg’s $25B Suit Over AIG Bailout Wins Court OK

    A federal judge on Monday gave the go-ahead to a $25 billion suit that an insurance company run by former American International Group Inc. CEO Maurice “Hank” Greenberg brought against the federal government over the AIG bailout.

  • July 3, 2012

    House Panel Sees Tax Implications In High Court ACA Ruling

    The chairman of the U.S. House of Representatives Ways and Means Committee on Tuesday announced the first congressional hearing to focus on the Supreme Court's health care decision, saying the committee will consider the ruling's implications for the power of Congress to impose taxes.

  • July 3, 2012

    Title Insurance Cos. Beat Kickback Suit At 2nd Circ.

    The Second Circuit on Tuesday upheld the dismissal of a putative class action accusing Fidelity National Title Insurance Co. and other title insurers of taking kickbacks, saying the plaintiffs had no concrete allegations.

  • 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.