A California appeals court on Tuesday reversed a ruling that allowed Lincoln Life & Annuity Co. of New York to rescind $20 million in life insurance coverage, holding the insurer must honor two policies that were sold for the benefit of third-party investors.
Liberty Insurance Underwriters Inc. sued Reback & Potash LLP in New York on Monday to rescind four professional liability policies, claiming the firm lied about its involvement in an alleged $1.4 million criminal mortgage fraud scheme.
A Florida federal judge ruled Tuesday that Auto-Owners Insurance Co. has a duty to provide coverage to American Building Materials Inc. in an underlying state court action brought by KB Home Inc. over allegedly defective Chinese drywall.
Travelers Property Casualty Co. of America hit Webs Inc. with a lawsuit in Maryland on Tuesday seeking to rescind a $2 million insurance policy issued to the Internet hosting company, which allegedly concealed intellectual property risks over counterfeit watches.
Allstate Corp. said Wednesday it would pay about $1 billion to buy insurance quote providers Esurance and Answer Financial from financial services holding company White Mountains Insurance Group Ltd. in an effort to amp up its consumer client base.
Taylor Bean & Whitaker Mortgage Corp.'s former chairman, found guilty of operating a $2.9 billion bank and securities fraud, sued his insurer in Virginia on Tuesday for allegedly refusing to cover $2 million he spent in defense costs.
A Florida federal judge on Tuesday denied efforts by XL Insurance Co. Ltd. to toss CAE USA Inc.'s coverage lawsuit over a work safety injury claim so the dispute can instead be litigated in Canada.
St. Paul Mercury Insurance Co. asked a Missouri federal court on Monday for summary judgment in First Bancshares Inc.'s coverage action over a lawsuit filed by an alleged whistleblower who claims the banking company wrongfully terminated her.
The Fourth Circuit ruled Friday that a South Carolina federal judge had wrongly snatched pro hac vice admissions away from three Jorden Burt LLP attorneys representing Aegon USA Inc. in a proposed class action over supplemental cancer insurance policies.
A New York federal judge on Monday nixed Employers Insurance Co. of Wausau's suit seeking an order barring law firm Rubin Fiorella & Friedman LLP from representing Munich Reinsurance Inc. in an underlying reinsurance arbitration dispute.
The Third Circuit affirmed Monday a nearly $20 million verdict in favor of The Graham Co., which accused a former broker and his new employer of infringing its copyrighted plain-English explanations of different insurance policies and coverage.
My first trial — an extortion case that involved undercover tapes in Chinese and numerous translators and experts — taught me lifelong lessons about how much discipline and effort it takes to successfully try a jury case, says Lazar Raynal, a partner in McDermott Will & Emery LLP's Chicago office and head of the firm's trial practice.
Despite having little experience in the field, Texas law firms are turning to insurance coverage disputes as a way to recoup business that dried up due to the slow economy and other factors, experts say.
Democratic New York Gov. Andrew Cuomo on Monday nominated a top aide and former federal prosecutor to run a new state financial services agency with consumer protection and fraud units.
A Virginia federal judge ruled Friday that Nationwide Mutual Insurance Co. does not have a duty to defend real estate developer The Overlook Inc. in underlying litigation over its installation of defective Chinese drywall at a townhouse complex.
An employee seeking $100 million for alleged widespread sex discrimination at Cigna Corp. must arbitrate her claims rather than pursue a proposed class action in Massachusetts federal court, the health insurer argued Monday.
The U.S. Supreme Court vacated a decision Monday that directed Cigna Corp. to recalculate benefits for a class of roughly 27,000 workers in a suit over changes to the health service company's pension plan, holding that the plaintiffs had to show actual harm.
Major banks on Friday said New York's highest court should revive their suit over $5 billion that was part of MBIA Inc.'s 2009 restructuring because they never had a chance to oppose state regulators' approval of the bond insurer's restructuring plan.
Hartford Accident and Indemnity Co. sued several other insurers in a New York state court on Thursday, seeking a determination on defense and indemnity obligations in underlying actions against Insulation Distributors Inc. over alleged injuries from exposure to products containing asbestos.
A John Alden Life Insurance Co. policyholder filed a putative class action in Montana on Friday claiming the company underpaid its insureds on health care costs despite promising customers higher reimbursements.