Insurance

  • May 3, 2012

    90 Women Sue Wash. AG For Challenging Health Care Reform

    Nearly 90 women sued Washington’s Republican attorney general Thursday for joining a constitutional challenge to health care reform, saying he broke ethical rules and should be ordered to reverse course in hopes of preserving beneficial provisions of the law.

  • May 3, 2012

    Cert. Denied In Antitrust Suit Against State Farm, Others

    A California federal judge on Wednesday again refused to certify a class of auto owners who allege State Farm Mutual Automobile Insurance Co. and other insurers violated antitrust law by selling inferior repair parts to policyholders.

  • May 3, 2012

    Atty Tied To $1B Mutual Benefits Scam Settles SEC Suit

    The U.S. Securities and Exchange Commission on Wednesday settled a suit in Florida against an imprisoned Mutual Benefits Corp. attorney over his part in an offering fraud that scammed investors out of more than $1 billion by misrepresenting securities backed by life insurance policies.

  • May 2, 2012

    Calif. Judge Trims Insurer From Arrow Cleanup Coverage Suit

    A Los Angeles judge on Wednesday dismissed Certain Underwriters at Lloyd’s, London from Arrow Electronics Inc.’s suit seeking insurance coverage for cleaning up groundwater contamination at a 429-acre Norco, Calif., site but declined to let Century Indemnity Co. out of the suit.

  • May 2, 2012

    MF Global Customer Challenges Execs' Defense Coverage Bid

    An MF Global Holdings Ltd. customer said Tuesday that allowing the collapsed brokerage's executives to access $120 million in professional liability coverage for legal defense costs would be an “improper waste,” claiming the policies cover MF Global's liability to customers for its failure to safeguard their funds.

  • May 2, 2012

    SmithAmundsen Snags 2 New Partners From Gallop, Lashly

    SmithAmundsen LLC has added two new partners with expertise in real estate, product liability and insurance from Gallop Johnson & Neuman LC and Lashly & Baer PC in an effort to expand its St. Louis office, the firm said Wednesday.

  • May 2, 2012

    Treasury, Calif. Strike Deal On Insurance Info Sharing

    The U.S. Department of the Treasury's criminal enforcement arm announced Wednesday that it has signed off on an information-sharing agreement with California's insurance commissioner — part of the agency's effort to get the insurance industry to comply with anti-money laundering regulations.

  • May 2, 2012

    Pool Co. Hits Gordon & Rees With $8M Malpractice Suit

    Blue Haven National Management Inc. hit Gordon & Rees LLP with an $8.2 million malpractice suit last week, saying the firm repeatedly ignored Blue Haven's interests in defending the pool company against allegations brought by an employee while representing its insurer at the same time.

  • May 2, 2012

    Intact Ponies Up $536M For Westaim Insurance Unit

    Intact Financial Corp., Canada's biggest property and casualty insurer, inked a CA$530 million ($536 million) cash deal for a unit of The Westaim Corp. that provides specialty and niche insurance products for Canadian customers, Intact announced Wednesday.

  • May 2, 2012

    Nationwide Shakes Off Agents' 2nd Benefit Suit Attempt

    Nationwide Mutual Insurance Co. on Monday once again fended off a Pennsylvania federal lawsuit brought by an insurance agents' association that claimed the insurer altered agents' contracts in an attempt to unfairly coerce them into signing away deferred compensation benefits.

  • May 2, 2012

    Merge Healthcare Unit Wins $3M In Attys' Fees From Insurer

    Carolina Casualty Insurance Co. must pay Merge Healthcare Solutions Inc. the full amount of a $3.15 million attorneys' fees award in settled securities litigation challenging the proposed sale of the company's predecessor, an Illinois federal judge ruled Monday.

  • May 2, 2012

    H&R Block Says Insurer Must Pay Up For False Ad Settlement

    H&R Block Inc.'s suit alleging its excess insurer must cover the settlement of a false advertising suit brought by competitor Jackson Hewitt Tax Service Inc. was removed Tuesday to Missouri federal court, which will decide whether H&R Block withheld essential information from the insurer.

  • May 2, 2012

    Lloyds Says Scottish Widows Isn't For Sale, Denies PE Bid

    Downsizing British lender Lloyds Banking Group PLC denied reports Wednesday that it had received an offer from a U.K. private equity fund for its Scottish Widows life insurance and pensions business, stressing that the unit is not for sale.

  • May 2, 2012

    GMAC Insurance Scheme Bilked Homeowners, Suit Claims

    GMAC Mortgage LLC was hit Monday with a putative class suit in New York alleging it received kickbacks from a hazard insurer that forced homeowners to obtain expensive policies, joining the ranks of top lenders to face such claims.

  • May 1, 2012

    Texas AG Fights State Farm Suit Over Gulf Coast Policies

    Texas Attorney General Greg Abbott on Tuesday vowed to continue to investigate State Farm Lloyds Inc.'s recent proposal to deny renewed coverage to 11,000 Gulf Coast homeowners despite the insurer's lawsuit protesting the civil subpoenas.

  • May 1, 2012

    Big Biz Hails Obama's Order To Align International Regs

    Targeting a worldwide web of red tape, President Barack Obama on Tuesday issued an executive order seeking to standardize international regulations, winning cheers from the business community.

  • May 1, 2012

    3rd Circ. Lets Federal-Mogul Move Policies To Asbestos Trust

    The Third Circuit on Tuesday approved bankrupt auto parts maker Federal-Mogul Global Inc.'s decision to transfer some of its insurance policies to an asbestos trust, ruling that bankruptcy law trumped the policies' anti-assignment provisions.

  • May 1, 2012

    Mutual Benefits Atty Linked To $1B Scheme Faces SEC Suit

    The U.S. Securities and Exchange Commission on Tuesday sued an imprisoned Mutual Benefits Corp. attorney for his involvement in an offering fraud that bilked more than $1 billion from investors worldwide who bought life insurance policies from the terminally ill and seniors.

  • May 1, 2012

    DOJ Probing Humana Medical Claims, Doctor Loans in Fla.

    Humana Inc. on Monday said the U.S. Department of Justice has opened an investigation into it and its affiliates’ loans to physician practices and their coding of medical claims by one or more South Florida medical providers.

  • May 1, 2012

    OneBeacon Off Hook For $7M Lead Paint Lobbying Tab

    NL Industries Inc. can't make OneBeacon America Insurance Co. reimburse the manufacturer for $7 million it spent on a campaign to fend off potential lead-based paint liabilities in state legislatures and municipalities, a New York state judge ruled Tuesday.