Insurance

  • August 24, 2012

    HHS Finalizes Unique Health Plan ID Rule, Coding Delay

    Federal regulators on Friday finalized a rule creating a unique identification number for individual health plans and making official a delay in the implementation of the new ICD-10 coding system from 2013 to 2014.

  • August 24, 2012

    5th Circ. Won't Rehear Downhole's Oil Project Coverage Suit

    The Fifth Circuit on Wednesday refused Downhole Navigator LLC's bid for an en banc rehearing after a panel ruled in June that Nautilus Insurance Co. does not have to cover Downhole's costs in a suit over a botched oil drilling project.

  • August 23, 2012

    Health Plan Forks Over $322M To End Calif. Medicaid Probe

    Long Beach, Calif.-based SCAN Health Plan has paid $322 million to settle a U.S. Department of Justice investigation into overpayments by California's Medicaid program for patients' long-term care and a whistleblower lawsuit alleging the company received inflated Medicare payments.

  • August 23, 2012

    Insurers Can't Duck Defending PVC Maker In Nevada's Suit

    A California judge issued a tentative decision Thursday finding HDI-Gerling America Insurance Co. and a Chartis Inc. company must defend J-M Manufacturing Co. in the state of Nevada’s lawsuit accusing the company of providing defective PVC pipe.

  • August 23, 2012

    Legal Challenges Lie Ahead For Calif.'s Iran Insurance Bill

    The California Legislature gave final approval Wednesday to a bill that would curtail insurers' investments in companies that have financial ties to Iran's energy sector, making it likely that insurance groups will head back to court to challenge the Golden State's authority to set foreign policy, experts say.

  • August 23, 2012

    Antitrust Review Extended For WellPoint's $5B Amerigroup Buy

    Just before the statutory waiting period on Indiana-based WellPoint Inc.'s $4.9 billion buyout of rival health insurer Amerigroup Corp. was about to expire, the U.S. Department of Justice asked for more information on the planned merger, extending the antitrust review for another month, Amerigroup said Thursday.

  • August 23, 2012

    Judge Shuts Down Investors' Bid For BofA Docs

    A New York state judge on Thursday chided challengers to Bank of America Corp.'s proposed $8.5 billion mortgage-backed securities settlement who are seeking access to bank documents in another case brought by MBIA Inc., scolding them for writing letters in a case they're not a party to.

  • August 23, 2012

    HHS Gives States $765M For Health Insurance Exchanges

    The U.S. Department of Health and Human Services on Thursday issued a total of $765 million in grants to eight states to help them implement insurance exchanges mandated by the health care overhaul, saying the grants would give the states additional resources and flexibility.

  • August 23, 2012

    Union Off Hook For Defense Of Convicted Ex-NJ Police Chief

    A former New Jersey police chief and one-time state legislator who is awaiting sentencing for official misconduct and insurance fraud is not entitled to have his legal bills paid for by the state police union, a state appeals court ruled Thursday.

  • August 23, 2012

    Polyester Maker Wants Ace To Cover Tornado-Induced Losses

    A polyester fabric manufacturer sued Ace American Insurance Co. in Pennsylvania federal court Thursday, seeking to force the insurer to cover lost profits stemming from a tornado outbreak that knocked out BP Amoco Chemical Co.'s ability to deliver a crucial raw material.

  • August 23, 2012

    UK Insurer Can't Arbitrate Ameren Reservoir Collapse Suit

    A Missouri federal judge refused Thursday to send to arbitration a coverage fight between Ameren Missouri and a Lloyd's of London syndicate arising from a catastrophic reservoir wall collapse at a hydroelectric plant, which led to nearly $200 million in injury, property damage and environmental damage claims.

  • August 23, 2012

    Insurance Exchanges Won’t Curb Costs Without Reforms: Study

    A report examining the shortcomings of the Swiss and Dutch health insurance exchanges, published Thursday, argues that the U.S. health care law's insurance exchanges will fail to keep costs down unless insurers can use their leverage to drive down prices and the government can bar them from seeking out only healthy beneficiaries.

  • August 23, 2012

    6th Circ. Won't Let AIG Off $7M Hook In DSW Hacking Case

    The Sixth Circuit on Thursday affirmed a $6.8 million judgment against an American International Group Inc. unit in a coverage fight over losses from a computer hacking scheme, finding DSW Inc. is covered under the computer fraud rider of its blanket crime policy with the insurer.

  • August 23, 2012

    Bradley Arant Hires Health Care Pro From Balch & Bingham

    Bradley Arant Boult Cummings LLP has added a partner with extensive experience in medical malpractice, insurance matters and Medicare Advantage program issues to its Birmingham, Ala., office, bolstering its rapidly growing health care practice, the firm announced Thursday.

  • August 23, 2012

    NJ Laws Apply In Claims Against Insurers In Liquidation: Court

    In an opinion establishing law regarding insurance companies under liquidation in New Jersey, a state appeals court on Thursday held that New Jersey's insurance coverage laws trump those of other states in distributing assets of financially troubled insurers, slamming the door on two companies' multimillion-dollar product liability claims.

  • August 23, 2012

    Erie Indemnity Facing Claims It Bilked Exchange Of $300M

    Erie Indemnity Co. removed to Pennsylvania federal court on Wednesday what it says is a putative class action brought by members of an unincorporated insurance exchange alleging it snatched more than $300 million from the exchange by improperly retaining fees and other charges.

  • August 23, 2012

    Triune's Catholic Owners Challenge 'Evil' Contraception Rule

    The Catholic owners of Oak Brook, Ill.-based Triune Health Group Inc. sued the U.S. departments of Health and Human Services, Treasury and Labor in Illinois federal court Wednesday, saying the Patient Protection and Affordable Care Act's contraception mandate violates their religious freedom and is unconstitutional.

  • August 23, 2012

    Jones Day Guides USI's Buy Of TD Bank Insurance Unit

    Property and casualty insurance brokerage USI Insurance Services LLC has agreed to swallow up TD Bank NA’s insurance-focused subsidiary — one of the largest bank-owned insurance groups in the U.S. — to infuse its yearly revenues, USI said late Wednesday.

  • August 23, 2012

    Nationwide Targeted Over Automated Calls

    Nationwide General Insurance Co. was hit with a proposed class action Tuesday in California federal court for allegedly calling consumers’ cellphones with automated advertisements without getting their consent, in violation of the Telephone Consumer Protection Act.

  • August 22, 2012

    Prudential Faces Investor Suit Following Death Benefits Audit

    In the wake of a highly critical audit of life insurance companies, a Michigan city filed a putative class action against Prudential Financial Inc. in New Jersey federal court Wednesday, alleging the company misled investors by failing to account for payments to the families of deceased policyholders.