Insurance

  • July 20, 2012

    Mich. Bill Would Limit Insurance Rate Hikes In Some Zones

    A group of 21 Michigan state lawmakers introduced a bill Wednesday that would restrict the ability of insurers to hike premiums for homeowners and auto policies in areas with significantly declining populations.

  • July 20, 2012

    Ex-NBA Coach Targets State Farm Over Weak Defense

    A former NBA player and coach of the Houston Rockets on Thursday lobbed a breach of contract suit at State Farm Lloyds Inc. in California court after the insurer backed out of defending him from allegations that he sold a $6.5 million Los Angeles mansion without disclosing significant damage to the property. 

  • July 20, 2012

    Catholic College's Contraception Coverage Suit Tossed For Now

    A federal judge on Wednesday tossed a suit brought by a Catholic college against the federal government over the constitutionality of a rule requiring employers to include free contraceptive coverage in their health plans, finding the government still had to finish amending the rule before it could be adjudicated.

  • July 20, 2012

    FHFA Says Ill. Court Has No Authority In MGIC Coverage Suit

    The Federal Housing Finance Agency said Friday that an Illinois federal court lacks jurisdiction over Mortgage Guaranty Insurance Corp.'s suit against it and Freddie Mac inasmuch as the suit would restrain the agency's functioning as conservator for the government-backed mortgage giant.

  • July 20, 2012

    NY Urged To Make Hurricane Deductible Triggers Uniform

    A trade group for insurance agents and brokers called on New York state lawmakers Friday to quickly pass legislation that would standardize triggers for hurricane deductibles in homeowners' policies, arguing that the status quo allows for vast inconsistencies and creates uncertainty for policyholders.

  • July 20, 2012

    Judge Won't Split Claims In Electrolux Dryer Fire Suit

    An Illinois federal judge on Friday rejected Electrolux Home Products Inc.'s bid to sever scores of property damage claims from a lawsuit over allegedly defective clothes dryers, saying to farm them out to local jurisdictions would merely complicate matters.

  • July 20, 2012

    Ex-Nationwide Agent Seeks Quick Win In Contract Suit

    A jilted Nationwide Mutual Insurance Co. agent sought summary judgment Thursday in an Ohio suit accusing his employer of falsely luring in new agents with promises of long-term employment, arguing that Nationwide indisputably ignored the termination provision in his employment agreement when it fired him and took his business.

  • July 20, 2012

    GOP Members Question Medicare Advantage Bonus Program

    A pair of GOP lawmakers Friday opened an inquiry into an $8.3 billion Obama administration program that uses bonus payments to improve private insurance plans under Medicare Advantage, requesting reams of correspondence after independent reports questioned the program’s legality and value.

  • July 20, 2012

    Leaner Class Gets Conditional Cert. In Farmers OT Suit

    A South Carolina federal judge granted conditional certification in an overtime collective action against Farmers Insurance Exchange on Friday, a year after shooting down a broader certification bid from the plaintiffs in a ruling that called the U.S. Supreme Court's Dukes decision "illuminating."

  • July 20, 2012

    Judge Sinks Class In Car Parts Antitrust Suit Against Insurers

    A California federal judge on Thursday quashed a putative class action accusing State Farm Mutual Automobile Insurance Co. and other insurers of violating antitrust laws by conspiring to supply inferior repair parts, finding the testimony of the plaintiffs’ expert for evaluating car parts is unreliable.

  • July 20, 2012

    Presidential Life Investors Protest $415M Sale To Athene

    A putative class of Presidential Life Corp. shareholders who say the company's proposed $415 million sale to Athene Annuity & Life Assurance Co. would shortchange them sued both companies and Presidential Life's directors in New York state court Wednesday in a bid to block the sale.

  • July 20, 2012

    ACA Could Drive Small Biz To Self-Insure, Report Says

    The health care reform law could encourage small employers to self-insure in order to avoid new regulations intended to protect patients and consumers, according to an independent report issued Thursday that underscores concerns voiced by the Obama administration.

  • July 19, 2012

    Magyar Sues Great Lakes For Coverage Of Condo Damage

    Magyar Bank sued Great Lakes Reinsurance Co. U.K. in New Jersey state court Tuesday for allegedly failing to provide owed excess coverage above a $1 million primary policy limit in connection with extensive vandalism damage at a condominium complex.

  • July 19, 2012

    Judge Weighs Damages Issue In Horizon Reimbursement Case

    A federal judge weighing a bid to certify a class of Horizon Blue Cross Blue Shield of New Jersey Inc. insureds who were allegedly under-reimbursed for out-of-network services ordered additional briefing Thursday on the viability of the plaintiff's proposed methods for measuring damages.

  • July 19, 2012

    US Fire On Hook For Nearly Half Museum's $1.5M Oil Cleanup

    A Massachusetts federal judge on Wednesday affirmed a lower court's decision that U.S. Fire Insurance Co. should have to pay 43 percent of Peabody Essex Museum's up to $1.5 million cleanup costs for an oil spill on its property, with double damages.

  • July 19, 2012

    Insurer Wins Fla. Drywall Coverage Row On Pollution Exclusion

    A Florida federal court ruled Monday that a pollution exclusion in a construction company's policy with First Specialty Insurance Corp. barred coverage of a putative class action in Louisiana over Chinese drywall-related injuries and property damage.

  • July 19, 2012

    HHS Offers States $275M For New Health Care Models

    The Centers for Medicare and Medicaid Services announced Thursday that states can compete for $275 million in grants to design and test new approaches to delivering health care, the latest in the agency’s multibilllion-dollar bet that innovative payment and treatment models will save money long-term.

  • July 19, 2012

    Wegman Can't Proceed On $2M Admiral Coverage Suit: 7th Circ.

    R.C. Wegman Construction Co. can't proceed with its suit against primary insurer Admiral Insurance Co. until a resolution has been reached in Wegman's suit against excess insurer American International Group Inc. over the same underlying worker injury action, the Seventh Circuit said Thursday.

  • July 19, 2012

    Regulators Say Reinsurance Not Threatening Global Markets

    The International Association of Insurance Supervisors said Thursday that traditional reinsurance doesn't currently pose a major risk to the global economy, but that regulators should closely monitor large reinsurance groups that delve into underwriting credit default swaps and other unconventional activities.

  • July 19, 2012

    HSBC Can't Kill Kickbacks Suit Over Force-Placed Insurance

    A Pennsylvania federal judge on Tuesday allowed homeowners in a putative class action to move forward with claims that lender HSBC Mortgage Corp. received kickbacks for imposing expensive force-placed insurance on customers, while dismissing all claims against affiliate HSBC Mortgage Services Inc.