Insurance

  • 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.

  • June 29, 2012

    HHS Unveils New Grants To Build State-Based Exchanges

    A day after the U.S. Supreme Court upheld the health care law, bringing new urgency to states that have not yet started shaping their insurance exchanges, federal health officials announced another round of funding Friday to help states begin that work.

  • June 29, 2012

    NJ Town Official Admits Laundering Bribe To Mayor

    A former Hamilton Township, N.J., official admitted Friday that he laundered a bribe from an insurance broker to the town's mayor, who has been accused of pocketing bribes to influence a local school district's award of a health insurance brokerage contract.

  • June 29, 2012

    XL Must Yield Docs In Workers' Comp Row: Texas High Court

    The Texas Supreme Court ruled Friday that attorney-client privilege does not protect communications between XL Specialty Insurance Co.'s lawyer and Cintas Corp. made during a worker's compensation proceeding and may not be withheld from the worker, who is now suing the insurer.

  • June 29, 2012

    Grubb & Ellis Allows Cleanup Workers' 9/11 Suits To Proceed

    Bankrupt commercial real estate advisory firm Grubb & Ellis Co. on Thursday agreed to allow cleaning and repair workers hurt in the World Trade Center cleanup after the 9/11 attacks to proceed with litigation against it to pursue the firm’s insurance funds.

  • June 29, 2012

    Merger Puts Travelers On Hook For Popcorn Lung Suits: Court

    A New York state appeals court ruled Thursday that Travelers Property Casualty Co. must help defend flavoring maker Kerry Inc. against nine "popcorn lung" lawsuits because the company acquired Travelers insurance policies after a merger.

  • June 29, 2012

    Fairfax's Claims Survive In $8B Suit Over Short Selling Scam

    A New Jersey judge on Tuesday refused to toss Fairfax Financial Holdings Ltd.'s $8 billion suit over an alleged short selling scam by broker-dealer Morgan Keegan & Co. and Exis Capital LLC, finding the Canadian insurer had suffered “massive” economic loss from a campaign of negative information that prompted the suit.

  • June 29, 2012

    Congress Handily Approves 5-Year Flood Insurance Bill

    Congress on Friday approved a five-year extension to the National Flood Insurance Program and reforms to ease it out of nearly $17 billion of debt, delivering long-desired certainty to private insurers that help run the program.

  • June 29, 2012

    D&O Policy Covers Some Losses In Investor Suit: 7th Circ.

    The Seventh Circuit on Friday struck down part of a district court ruling that St. Paul Mercury Insurance Co. need not cover Strategic Capital Bancorp Inc.'s costs in an investor suit, saying some claims must be covered even though people on both sides of the suit were covered under the same directors and officers policy.

  • June 29, 2012

    With Ruling In Hand, Supreme Court Nixes ACA Challenges

    Having ruled the Patient Protection and Affordable Care Act constitutional, the U.S. Supreme Court on Friday denied several ACA-related petitions, including one claiming the law's individual insurance mandate violated the right to religious freedom and another challenging a rule excluding research from hospitals' Medicare reimbursements.