Insurance

  • November 20, 2013

    6th Circ. Sides With Liberty In Contractor Coverage Row

    The Sixth Circuit on Tuesday bailed out Liberty Mutual Fire Insurance Co. from covering  two contractors for their shoddy work building a Kentucky Wal-Mart, finding that the store’s defective foundation and resulting structural damage did not constitute an “occurrence” under the policy.

  • November 20, 2013

    LeClairRyan Adds Insurance Coverage Vet In Boston

    LeClairRyan's Boston office has coaxed a former Murphy & Riley PC attorney well-versed both in insurance coverage litigation surrounding environmental and real estate matters and in defending professional liability claims, the firm announced Tuesday.

  • November 20, 2013

    GOP Sounds Alarm On ACA's $2B Insurance Loans

    Senate Republicans on Wednesday demanded answers from the Obama administration about a $2 billion nonprofit insurance program funded under the Affordable Care Act, questioning whether experimental “co-ops” will soak taxpayers without delivering much in return.

  • November 20, 2013

    Dewey Execs Shouldn't Duck Securities Fraud, Insurer Says

    Aviva Life and Annuity Co. shot back Wednesday at three former Dewey & LeBoeuf LLP executives' bid to dismiss a lawsuit accusing them of lying about the now-bankrupt firm's financial predicament when it issued $35 million in senior secured notes to Aviva, arguing its securities fraud claims are solid.

  • November 20, 2013

    ACA Tax Credits Won't Be Suspended For Va. Consumers

    A Virginia federal judge denied a request to temporarily halt the extension of Affordable Care Act tax credits to consumers in the state, saying Wednesday the plaintiffs will not suffer irreparable harm due to an expedited briefing schedule that will wrap up all pretrial motions by year's end.

  • November 20, 2013

    Female Powerbrokers Q&A: Morgan Lewis' Jami McKeon

    In some ways it is easier to be a woman at the firm because you can chart your own course. At the same time, you do feel a responsibility to forge a path for people coming up behind you, and that is an added challenge for women leaders given how far the legal profession has to go, says Jami Wintz McKeon, chairwoman-elect of Morgan Lewis & Bockius LLP.

  • November 20, 2013

    Female Powerbrokers Q&A: Sidley's Sara Gourley

    Today, most people are smart enough not to be overtly sexist, but I worry about the unconscious bias that may affect young women in the assignment of work or the evaluation of their work, says Sara Gourley, leader of Sidley Austin LLP's products liability and mass torts practice and a member of the firm's executive committee.

  • November 19, 2013

    Siemens Says $20M Faulty-Turbine Suit Doesn't Hold Up

    A Siemens AG unit asked a Texas appeals court Thursday to toss a $20 million suit being pursued by Lloyd’s of London and others over damage to a natural gas-powered electricity plant owned by NRG Energy Inc., saying the insurers’ suit is frivolous.

  • November 19, 2013

    Rep. Waters Rips FEMA's Handling Of Flood Insurance Law

    Rep. Maxine Waters, D-Calif., came down hard on the leader of the Federal Emergency Management Agency at a Tuesday hearing on premium increases under the National Flood Insurance Program, chiding the agency for not alerting lawmakers to the “unintended consequences” of the flood insurance reform law she co-sponsored.

  • November 19, 2013

    Judge Urged To Nix BofA's $8.5B 'Frankenstein' MBS Deal

    Bank of America Corp. unilaterally dictated the terms of its $8.5 billion “Frankenstein monstrosity” of a settlement with institutional mortgage-backed securities investors, an attorney challenging the deal at trial told a New York judge Tuesday, urging the judge to veto the deal.

  • November 19, 2013

    11th Circ. Revives Gallagher Bassett Negligence Suit

    The Eleventh Circuit reversed a Florida district court's decision granting summary judgment to Gallagher Bassett Services Inc. in a civil negligence action brought by a former employee, holding Tuesday that the lower court erred in granting the judgment as a matter of law.

  • November 19, 2013

    CMS Official Says ACA Privacy Protected, Despite Glitches

    A Centers for Medicare and Medicaid Services senior staffer responsible for the rollout of the troubled HealthCare.gov website defended the site’s security measures to lawmakers, saying Tuesday that despite other issues, its security and privacy controls were sound.

  • November 19, 2013

    FEMA Says Court Can't Halt Flood Insurance Rate Hikes

    The Federal Emergency Management Agency on Monday urged a court to toss the Mississippi Insurance Department's lawsuit challenging steep rate hikes planned for the National Flood Insurance Program, arguing that the reprieve Mississippi is seeking can only come from Congress.

  • November 19, 2013

    GOP Senate Bill Would Nix ACA Fee Relief For Unions

    Republican senators rolled out legislation on Tuesday that would prevent unions from dodging an Affordable Care Act fee to be levied against businesses, charities and faith-based organizations for each employee whose health insurance they cover.

  • November 19, 2013

    Life Settlement Co. Takes Securities Case To Texas Justices

    A life settlement broker asked the Texas Supreme Court on Friday to revive its suit challenging the state's decision to sue a competitor for allegedly selling unregistered securities, saying the case could result in new regulations affecting the entire viatical settlement industry.

  • November 19, 2013

    Female Powerbrokers Q&A: Miller Canfield's Megan Norris

    There are plenty of male attorneys who do not bill 1,800 hours a year but are very highly compensated because they bring in business or have recognized valuable expertise, but when female attorneys do not hit such hours targets it is blamed on "priorities," says Megan Norris, chairwoman of Miller Canfield PLC's managing directors and leader of the firm's employment group.

  • November 19, 2013

    Female Powerbrokers Q&A: Buchanan's Wendy Newton

    While my advice to female attorneys has historically addressed life-work balance, today I would stress business development. Building client relationships allows a woman to be heard regardless of firm diversity program goals or mentoring targets, says Wendelynne Newton, executive shareholder and chairwoman of Buchanan Ingersoll & Rooney PC's antitrust and trade regulation practice.

  • November 18, 2013

    EU's Solvency II Deal Buoys Insurers As Deadline Looms

    A compromise that European policymakers reached last week carves a path toward an overhaul of insurance regulation on the continent, removing a dreaded barrier for U.S. insurers that do business there and comforting European insurers that have invested heavily in compliance. But despite the progress, attorneys still doubt the Solvency II reforms will be fully in place by the 2016 deadline.

  • November 18, 2013

    BofA Escapes Reinsurance Pay-To-Play Class Action

    A Pennsylvania federal judge on Monday granted Bank of America Corp.’s motion to dismiss a proposed class action alleging it reaped millions of dollars in illegal referrals from private mortgage insurers, ruling that the claims brought under the Real Estate Settlement Procedures Act were time-barred.

  • November 18, 2013

    Highmark Can't Dodge OT Class Action

    A Pennsylvania federal judge on Friday shot down health insurer Highmark Inc.’s bid to derail a proposed class action accusing it of stiffing staffers on overtime pay, finding reason to believe the Fair Labor Standards Act applies and that numerous employees may have been shortchanged.