Insurance

  • July 31, 2012

    Keystone Subscribers' Bid To Expand Data Breach Class Halted

    A Philadelphia judge has for now blocked efforts to broaden a putative class action over Keystone Mercy Health Plan's alleged mishandling of personal health information, denying on Tuesday the plaintiffs' motion to compel discovery for a larger class than in the original complaint.

  • July 31, 2012

    Insurance Execs Slam Proposed 'Too Big To Fail' Standards

    Executives at the world's top insurers and reinsurers urged the International Association of Insurance Supervisors on Tuesday to rework its proposed methodology for identifying "too big to fail" insurers, pushing regulators to home in on risky activities and shift the focus away from traditional insurance.

  • July 31, 2012

    Judge To Review Paul Weiss Docs In $1.5B AXA, ING Case

    A New York state judge ruled Monday that she'll review communications between ING Groep NV and its attorneys at Paul Weiss Rifkind Wharton & Garrison LLP for attorney-client privilege issues before AXA SA sees them in a suit over a $1.5 billion stock purchase agreement.

  • July 30, 2012

    Covidien Unit Sues Liberty Mutual For Asbestos Coverage

    A subsidiary of medical company Covidien PLC has sued Liberty Mutual Insurance Co., saying in a complaint filed in federal court Thursday that the insurer failed to pay costs associated with asbestos-related suits.

  • July 30, 2012

    Sandusky Coverage Battle Hinges On Penn State's Knowledge

    Pennsylvania State University's president said Sunday that insurance will cover lawsuits over the child molestation scandal involving former assistant football coach Jerry Sandusky, but experts say that will largely depend on whether the college can deflect insurers' claims that it knowingly harmed the alleged victims by keeping the problem under wraps.

  • July 30, 2012

    Senate Dems Seek FDIC Transaction Account Program Extension

    Senate Democrats on Friday urged the Obama administration to back the extension of a Federal Deposit Insurance Corp. program that provides unlimited insurance on transaction accounts above $250,000, saying that an abrupt end to the program could further dampen the nation's limping economic recovery.

  • July 30, 2012

    Amica Ducks Antitrust Claims Over Trademark Fight

    A Nevada federal judge on Thursday dismissed an insurer's antitrust suit accusing Amica Mutual Insurance Co. of monopolizing Internet keyword advertising and infringing free trade, ruling Amica's effort to protect its trademark is shielded from antitrust liability.

  • July 30, 2012

    Insurer Off Hook For Defense In Subcontractor Injury Suit

    An Illinois federal ruled last week that James River Insurance Co. needn't defend a company that monitors construction site safety in a workplace injury suit, finding a subcontractor exclusion applied even though the injured subcontractor had been hired by a third party.

  • July 30, 2012

    9th Circ. Lets Sierra Pacific Recover $20M For Dam Rebuild

    The Ninth Circuit on Friday partly upheld a Nevada federal court’s ruling in Sierra Pacific Power Co.’s insurance dispute, saying the utility can recover from its insurers the full $19.8 million it costs to rebuild a California hydroelectric dam destroyed by a 1997 flood.

  • July 30, 2012

    Countrywide MBS Cases Are Time-Barred, 9th Circ. Hears

    A financial industry group urged the Ninth Circuit on Thursday to uphold the dismissal of lawsuits accusing Countrywide Financial Corp. of deceptively marketing mortgage-backed securities, saying the cases are time-barred and that reviving them would set a precedent deeply harmful to business interests.

  • July 30, 2012

    Insurer Says It Doesn't Owe San Diego In Gas Leak Suits

    Indian Harbor Insurance Co. asked a New York federal court Friday to declare that the company has no duty to defend the city of San Diego against a trio of lawsuits over hydrogen sulfide gas leaks from the city's sewage system into homes and properties because of late notice.

  • July 27, 2012

    DHR Sues Federal Insurance For Shareholder Suit Coverage

    Executive search firm DHR International Inc. on Thursday sued Federal Insurance Co. in Illinois state court over the insurer's refusal to cover litigation costs in an underlying suit brought by a former DHR employee and shareholder who alleged the company cheated him out of equity.

  • July 27, 2012

    UK Bank Regulator Cracks Down On Packaged Accounts

    In an effort to protect consumers, the U.K.’s Financial Services Authority on Friday published stricter rules requiring banks and building societies to more diligently check whether customers are eligible for certain insurance policies before selling them a prepaid packaged account.

  • July 27, 2012

    Insurers' Loss Reserve Info Off-Limits In $450M Fraud Case

    A federal judge on Thursday said wholesale residential mortgage lender Walsh Securities Inc. can't compel a trio of title insurers to disclose how much money they had set aside for loss reserves in WSI's $450 million suit over a mortgage fraud scam.

  • July 27, 2012

    CMS Hands $69M ACA Loan To Colo. Insurance CO-OP

    The Centers for Medicare and Medicaid Services has awarded a $69.4 million loan to fund a Colorado not-for-profit health insurance cooperative masterminded by the Patient Protection and Affordable Care Act, CMS announced Friday.

  • July 27, 2012

    7th Circ. Sends Travelers $16M Coverage Row To State Court

    The Seventh Circuit on Friday rejected The Travelers Indemnity Co.'s attempt to keep a coverage dispute over a $16 million settlement in a credit card rights class action out of state court, ruling that class members' claims couldn't be aggregated to provide federal court jurisdiction over the case.

  • July 27, 2012

    Judge Shields Colo. Employer From ACA Contraception Rule

    A Colorado business doesn't have to immediately comply with the contraception mandate of the Patient Protection and Affordable Care Act because it violates the business owners' religious beliefs, a Colorado federal judge said Friday.

  • July 27, 2012

    Insurer Says It Never Covered Diocese Facing Sex Abuse Suits

    Arrowood Indemnity Co. has sued a Montana Roman Catholic diocese to avoid covering two lawsuits claiming that former priests and nuns physically, sexually and emotionally abused more than a hundred children over five decades, arguing the diocese has no evidence it was ever issued policies.

  • July 27, 2012

    Walgreens, Par Escape Ill. Generic Overcharge Suit

    An Illinois federal judge on Thursday threw out a putative class action alleging Walgreen Co. and Par Pharmaceutical Cos. schemed to overcharge insurance companies and other third-party payors for generic versions of Zantac and Prozac.

  • July 27, 2012

    Court Says Lloyd's E&O Policy Doesn't Cover Testimony

    A Mississippi federal court ruled that Lloyd's of London does not have to defend an insurance agency against claims its employee made misrepresentations to an insurer, holding that giving sworn statements does not count as "professional services" covered under an errors and omissions policy.