Insurance

  • August 3, 2012

    Zurich, Amerisure Avoid Tab In Cement Cos.' Antitrust Suits

    A New York federal judge on Friday tossed three cement companies' claims against Zurich Insurance Co. Ltd. and Amerisure Insurance Co. seeking defense costs for underlying antitrust class actions, saying their policies did not cover allegations that they lied about a price-fixing scheme.

  • August 3, 2012

    Injunction Can't Ax Dismissal Bid In Contraception Suit: US

    An injunction temporarily shielding a Colorado business from the Affordable Care Act's contraception mandate because of the owners' religious beliefs wouldn't preclude the case's dismissal for the plaintiff's failure to state a claim, the government said Thursday.

  • August 3, 2012

    Lexington Wants No Part In $285M Pella Class Action

    The Lexington Insurance Co. on Thursday said it has no responsibility to defend or indemnify window and door maker Pella Corp. in the company’s fight against a $285 million Canadian class action alleging its products are susceptible to condensation, wood rot and leaks.

  • August 3, 2012

    Hartford Can't Shake Claims Of Inflated Insurance Costs

    A Pennsylvania federal judge ruled Wednesday that a putative class action against Trumbull Insurance Co. and Hartford Financial Services Group Inc. over allegedly inflated workers' compensation insurance premiums could move forward, denying the defense's motions to dismiss claims of unjust enrichment and breach of contract.

  • August 3, 2012

    Velsicol Chemical Wants Chartis To Cover Cleanups At 3 Sites

    Velsicol Chemical LLC on Thursday sued Chartis Specialty Insurance Co. in Illinois court, alleging the insurer improperly denied its requests for coverage of three environmental cleanups in violation of policies held by the chemical manufacturer.

  • August 2, 2012

    House GOP Slams IRS On Federal Health Exchange Subsidies

    House Republicans on Thursday escalated their campaign to block subsidies for consumers shopping on health insurance exchanges created by the federal government, grilling the head of the Internal Revenue Service over legal justification for the disputed policy.

  • August 2, 2012

    AIG Sued For Tapping 3rd Party Before Making Insured Whole

    A Brooklyn couple filed a putative class action against American International Group Inc. and subsidiary New Hampshire Insurance Co. in New York state court Wednesday, claiming the companies violated state insurance law by taking money from third-party wrongdoers before making their policyholders whole.

  • August 2, 2012

    GOP Bill To Curb Dodd-Frank Rule Risks Repeat Of 2008

    Congressional Republicans on Thursday introduced legislation that would bar federal regulators from placing insurance companies and other nonbanks under the Federal Reserve’s supervision by designating them systemically significant, but critics say such a move risks a financial panic similar to 2008.

  • August 2, 2012

    New MGIC Biz In Limbo As Wis. Opposes Freddie Mac Rules

    Mortgage insurer MGIC Investment Corp.'s plan to sell insurance through a spinoff company is in danger because Freddie Mac’s approval is contingent on some conditions that aren’t palatable to Wisconsin regulators, MGIC said Thursday.

  • August 2, 2012

    Diet Aid Co.'s Insurance Claim Not Time-Barred, 5th Circ. Told

    CSA Nutraceuticals GP LLC on Wednesday told the Fifth Circuit its insurance claim for $20 million in defense coverage for a diet aid class action wasn't time-barred, arguing Chubb Custom Insurance Co.'s time limit argument relies on wrong dates and immaterial differences.

  • August 2, 2012

    Louisiana-Pacific Can Seek Only $2M In Faulty Heater Case

    A Tennessee federal judge on Thursday limited the damages wood products manufacturer Louisiana-Pacific Corp. can seek against The Teaford Co. Inc., which installed an allegedly faulty heating system that exploded at a Louisiana-Pacific plant, to $2.3 million, saying a contract partially shielded Teaford.

  • August 2, 2012

    DLA Piper Hires Blank Rome Gov't Relations Ace In Philly

    DLA Piper has added a Blank Rome LLP attorney and government relations veteran with wide expertise handling government contracts, patents and intellectual property, insurance, and environmental law to its Philadelphia office as a partner, the firm announced Thursday.

  • August 2, 2012

    Ex-County Officials Plead Guilty In Kickback Scandal

    Two former El Paso County, Texas, officials pled guilty Wednesday to federal corruption charges that they directed more than $100 million in government health insurance contracts to a subsidiary of Access Plans USA Inc. in exchange for bribes.

  • August 2, 2012

    Judge Endorses Settlement In ROA Racketeering MDL

    A Tennessee federal judge on Wednesday paved the way for final approval of a confidential agreement settling part of a racketeering multidistrict litigation over the collapse of reinsurer Reciprocal of America, rebuffing objections from Milliman Inc. and General Reinsurance Corp. concerning language that could allow more claims.

  • August 2, 2012

    Fla., Texas Lead In Shady Medicare Billing For Home Care

    Florida and Texas are dramatically outpacing the national average when it comes to questionable billing of Medicare for home health services, according to a government audit issued Thursday that recommends temporarily halting enrollment of new providers and suppliers in the states.

  • August 2, 2012

    Arbitrating Cigna Sex Bias Suit Limits Rights, Worker Says

    A woman who lodged a proposed $100 million sex bias class action against Cigna Corp. told a Massachusetts federal court on Wednesday that an earlier ruling that forces her to arbitrate her claims individually would restrict her rights under the Civil Rights Act.

  • August 1, 2012

    Transocean Insurers Launch New Suit Over BP Spill Claims

    Eight excess insurers of Transocean Ltd. on Tuesday brought a suit in a federal court in Louisiana, asking for guidance on handling Deepwater Horizon oil spill claims from Transocean and BP PLC while their coverage battle with BP plays out before the Fifth Circuit.

  • August 1, 2012

    Insurer Revisits 5th Circ. Win After Uproar Over Exclusions

    Amerisure Insurance Co. took the rare step Monday of asking the Fifth Circuit to let the Texas Supreme Court decide key questions raised in a coverage suit it already won against a construction company, after construction industry groups and insurance brokers decried the ruling for broadening the scope of contractual liability exclusions.

  • August 1, 2012

    Texas Mulls How To Fund ACA, Seeks Feds' Input On Exchanges

    Texas' top insurance regulator on Wednesday said state lawmakers must confront how to fund costs imposed by the Patient Protection and Affordable Care Act and that federal guidance is needed on the mechanics of a mandated insurance exchange.

  • August 1, 2012

    Futures Insurance Seen As Band-Aid For Brokerage Failures

    U.S. lawmakers are weighing whether to establish an insurance fund for futures customers similar to those available for securities investors and bank depositors, but experts say the move, while welcome, would do little to address the lapses that led to the failures of MF Global Inc. and Peregrine Financial Group Inc.