A New York federal class action claiming Northwestern Mutual Life Insurance Co. Inc. discriminated against a Mexican national enjoying protection from deportation marks a cagey attempt to leverage a Civil War-era ban on race bias in contracts and will leave many businesses vulnerable to so-called alienage suits if it succeeds, lawyers say.
A Pennsylvania federal judge on Monday dismissed Travelers Indemnity Co.’s suit seeking to recover $22 million in workers’ compensation claims from Cephalon Inc. over the off-label use of two cancer painkillers, finding Travelers didn’t allege an injury and thus did not have standing to sue.
A California court has quashed part of the subpoenas that Illinois National Insurance Co.'s served on the International Union of Operating Engineers in a coverage dispute over four racketeering and labor law-related suits, finding that the insurer's inquiries collided with the interests of underlying plaintiffs.
Generali Group has sold Swiss bank BSI to wealth manager Banco BTG Pactual for 1.5 billion Swiss francs ($1.88 billion) in cash and stock, the Italian insurance company’s latest move aimed at restoring its balance sheet and exiting noncore businesses.
Mexican cement maker Elementia is in talks to buy out partner Lafarge's 47 percent stake in their Mexican joint venture, while Swiss aviation firm VistaJet is chatting with bankers about a potential sale of the business.
Nationwide Mutual Insurance Co. has asked a Pennsylvania state judge to reconsider an $18 million punitive damages award that he granted to a policyholder after finding that the company had engaged in a “scorched earth” litigation strategy that followed its unwillingness to pay $25,000 to settle a collision claim.
Travelers Casualty and Surety Co. filed suit in New Jersey federal court seeking an order that it does not have to cover medical technology company Becton Dickinson and Co.'s defense costs and $67 million in settlement payments in underlying antitrust class actions.
The Third Circuit concluded on Thursday that Urban Outfitters Inc. and OneBeacon America Insurance Co. could not yet appeal a ruling that Hanover Insurance Co. had no duty to defend the retailer against a copyright infringement suit brought by the Navajo Nation.
Two U.S. senators on Friday asked biopharmaceutical company Gilead Sciences Inc. for more information on how it prices its hepatitis C medication Sovaldi, which has become a lightning rod for criticism of soaring pharmaceutical costs.
An Illinois federal judge on Wednesday set aside a U.S. Coast Guard agency's ruling against two insurers that held up the Oil Protection Act while trying to recover part of $8.6 million in cleanup costs from a deadly barge explosion and subsequent oil spill in 2005.
The Federal Housing Finance Agency on Thursday released proposals that would impose higher capital requirements on private mortgage insurers doing business with Fannie Mae and Freddie Mac, but experts say insurers with bubble-era mortgages in their portfolios may find it tough to meet the new mandates.
Chief Justice John G. Roberts stayed in the background in the U.S. Supreme Court’s recent blockbuster Affordable Care Act case over employer-sponsored contraceptives, handing the majority opinion to Associate Justice Samuel A. Alito in a surprising move that experts say marks Justice Alito’s rising influence as a conservative force on the court.
Proxy adviser Institutional Shareholder Services Inc. on Friday recommended that shareholders of Aspen Insurance Holdings Ltd. vote against a pair of proposals from fellow insurer Endurance Specialty Holdings Ltd. aimed at advancing its $3.2 billion takeover bid for Aspen.
PacifiCare Life and Health Insurance Co. sued California's insurance commissioner Friday in state court over a $173.6 million fine for roughly 130,000 violations in processing health insurance claims after UnitedHealth Group Inc. acquired it for $9.2 billion, calling the penalty egregious.
The Eighth Circuit on Friday upheld a ruling that claims against a Christian sports camp over the drowning of two boys at a pool party involved one occurrence instead of two, limiting the obligations of Axis Insurance Co. over the protests of an umbrella insurer.
China's Alibaba could kick off its potentially record-breaking U.S. initial public offering process at soon as the end of this month, while Spain's Telefonica is looking to ditch its stake in Telecom Italia to ease regulatory pressure.
An Oregon federal judge on Thursday ruled that National Union Fire Insurance Co. has no obligation to cover judgments and settlements against an ambulance company sued for employing a male emergency medical technician who pled guilty to fondling passengers, reversing his earlier judgment.
U.S. House of Representatives Speaker John Boehner, R-Ohio, on Thursday introduced a draft resolution to let the body sue President Barack Obama over his decision to postpone implementation of the Affordable Care Act's employer mandate.
Syncora Holdings Ltd. failed on Friday to trap casino tax streams flowing to the city of Detroit to satisfy the bankrupt municipality’s debt obligations when a Michigan federal judge held that the revenues are part of the debtor’s estate and off-limits to creditors.
Life insurance company Friends Life Group Ltd. will sell its wealth management units to private equity firm Blackstone Group LP for up to £356 million ($608.9 million), the companies said Friday, in a move that sees Friends Life divesting nonessential businesses.