Insurance

  • September 18, 2014

    FEMA Loses Fight To Fla. Water District Over $21M For Repairs

    A Florida federal judge on Wednesday reversed FEMA’s de-obligation of $21 million in rehabilitation funds for the Florida coast to repair canals and levees damaged from hurricanes in 2004 and 2005, saying the Stafford Act prohibits the federal agency from pulling the funds back.

  • September 18, 2014

    Calif. Court Says Asbestos Coverage Claims Not Time-Barred

    A California appeals court on Wednesday revived a suit brought by trustees of the Western Asbestos Settlement Trust alleging California Insurance Guarantee Association breached its duty to cover underlying asbestos injury claims, finding the necessary events to trigger the statute of limitations have not occurred.

  • September 17, 2014

    Insurer Says Chancery Erred By Not Halting Mine Safety Suits

    North River Insurance Co. on Wednesday told the Delaware Supreme Court that the Chancery Court erred by not enjoining Mine Safety Appliances Co., which faces myriad personal injury claims, from participating in coverage litigation in West Virginia or filing other coverage claims than what’s pending in Pennsylvania and Delaware.

  • September 17, 2014

    Oracle Adds IP Claim Against Oregon In Health Exchange Row

    Oracle America Inc., which recently hit the state of Oregon with a breach of contract suit for allegedly continuing to use software developed by Oracle for the state’s Affordable Care Act exchange despite never having paid approximately $23 million in fees, has added a copyright claim to the suit.

  • September 17, 2014

    Detroit's Ch. 9 Confirmation Trial Delayed For A Week

    The judge presiding over Detroit's bankruptcy on Wednesday gave Financial Guaranty Insurance Co. and several hedge funds a week to refashion their objections to the city’s debt restructuring after a onetime ally against the Chapter 9 plan dropped out.

  • September 17, 2014

    Former Florida Judge Pereyra Joins JAMS In Miami

    A former judge in Florida's Eleventh Judicial Circuit Court has joined the JAMS Miami Resolution Center as an arbitrator, mediator and special master covering a variety of disputes, including in the employment, health care, insurance and entertainment sectors, the company announced Tuesday.

  • September 17, 2014

    Insurer In Judge Murder Plot Charged With Faking Records

    The insurance company founder accused of plotting to kill a prominent Delaware judge was charged with creating false documents, in an indictment unsealed Tuesday in Maryland federal court that seeks to recover over $100 million in premiums customers paid as a result of artificially inflated ratings.

  • September 17, 2014

    Safeco Loses Challenge To Abatement Of Bad Faith Suit

    A Florida appeals court on Wednesday affirmed a lower court's decision to abate and not dismiss a bad faith claim against Safeco Insurance Company of Illinois, ruling that though the move barred Safeco from removing the case to federal court, the trial court complied with the law in its ruling.

  • September 17, 2014

    BNY Mellon Says RMBS Suit Over Loan Docs Falls Short

    The Bank of New York Mellon Corp. on Monday pushed back against banks, insurers and other investors’ lawsuit against BNY as trustee of pools of poor-performing residential mortgage-backed securities, arguing that it is being accused of breaching duties that aren't in the pooling and servicing contracts.

  • September 17, 2014

    OneBeacon Denied Again In Dish Malpractice Coverage Suit

    A Texas federal judge refused on Wednesday to reconsider his decision not to hand an early win to OneBeacon Insurance Group Ltd. in its suit claiming it doesn’t have to defend law firm T. Wade Welch & Associates in an antitrust-related legal malpractice suit brought by Dish Network Corp.

  • September 17, 2014

    Policyholders Say Defense Is Delaying Sandy Mediation

    A firm representing policyholders in Superstorm Sandy insurance litigation in New York federal court on Monday blasted attempts by the insurers' counsel to cease mediations to conduct more site inspections, saying the attempts amount to "erecting another road block" for the plaintiffs at taxpayers' expense.

  • September 16, 2014

    AIG Unit Says Sandy Caused Flood As Deductible Trial Opens

    An American International Group unit told California jurors Tuesday it didn't stiff a New York science center on Hurricane Sandy damage claims, saying a high deductible for named storms applies even though Sandy lost its name before the damage occurred because it had unleashed "a massive wall of water" days earlier.

  • September 16, 2014

    Texas Justices Weigh BP's $750M Deepwater Coverage Claim

    BP PLC on Tuesday asked the Texas Supreme Court to find that it's entitled to claim $750 million under a Transocean Ltd. insurance policy for the Deepwater Horizon oil spill, saying the policy doesn't incorporate a separate indemnity agreement that limits Transocean's liability for underwater pollution.

  • September 16, 2014

    Affiliated Off Hook For $30M Sandy Coverage Due To Mistake

    A New York federal judge ruled Monday that Affiliated FM Insurance Co. sufficiently proved it mistakenly set a $30 million coverage limit instead of $10 million in Cammeby's Management Co. LLC’s suit claiming it had been stiffed on coverage it was owed for Superstorm Sandy damage to a commercial complex it owns in Brooklyn.

  • September 16, 2014

    House Passes Broad Dodd-Frank Revision Bill

    The U.S. House of Representatives on Tuesday passed a consolidated bill tweaking the Dodd-Frank Act to exempt insurers from the capital requirements that apply to banks and exempt existing collateralized loan obligations from the statute’s Volcker Rule, while also adjusting the regulatory definition of a “qualified mortgage.”

  • September 16, 2014

    $14.5M Defamation Verdict Against State Farm Upheld

    An Indiana appeals court upheld the largest defamation verdict in the state’s history on Tuesday in a lawsuit claiming State Farm Fire and Casualty Co. had a roofing contractor arrested for assisting homeowners after the insurer denied hundreds of claims from a 2006 hail storm.

  • September 16, 2014

    Bernstein Litowitz Wants Later Opt-Out Deadline In AIG Deal

    A Bernstein Litowitz Berger & Grossman LLP attorney representing institutional investors against American International Group Inc. has asked a New York federal judge to extend the opt-out deadline until after the Supreme Court weighs in on whether a long-standing class action tolling provision should apply to certain securities suits.

  • September 16, 2014

    NJ AG Wants Doc In Insurer Outsourcing Case Sanctioned

    New Jersey's attorney general moved Tuesday to sanction a doctor who brought suit alleging the state is unlawfully handing insurance fraud investigations off to insurers, saying the suit is frivolous and merely an attempt by the doctor to halt investigations into his wrongdoing.

  • September 16, 2014

    Senator Asks 7th Circ. To Wade Into ACA Subsidy Battle

    Sen. Ron Johnson, R-Wis., on Monday urged the Seventh Circuit to revive his lawsuit targeting a rule that allegedly provides preferable treatment to certain congressional staffers for health care obtained under the Affordable Care Act, saying the lower court was wrong to find he lacked standing to bring the suit. 

  • September 16, 2014

    Court OKs Moving Pa. Atty's Child Abuse Defamation Suit

    The Pennsylvania Superior Court ruled Tuesday that a lawsuit accusing Robb Leonard Mulvihill LLP and Erie Insurance Co. of investigating a Pittsburgh attorney on child molestation claims they knew were false was properly transferred out of the plaintiff’s chosen venue of Philadelphia.