Faced with opposition from a powerful shareholder, an attack on its board and competing bids, Transatlantic Holdings Inc. on Friday called off its planned $3 billion stock-for-stock merger with fellow reinsurer Allied World Assurance Co. and replaced its CEO.
An American International Group Inc. unit on Thursday won its bid to avoid covering U-Haul International Inc. in suits blaming U-Haul trailers for fatal collisions, with an Arizona federal judge finding no evidence that the insurer had acted unfairly.
A Pennsylvania federal judge on Thursday dismissed most of a former Allstate Corp. agent's suit alleging the insurer terminated his agency contract in order to absorb his business portfolio, leaving only allegations regarding Allstate's efforts to enter him into the agreement.
Global Industries Technologies Inc. last month asked the U.S. Supreme Court to rule on whether its insurers were entitled to challenge the handling of asbestos- and silica-related claims in its bankruptcy plan, following a precedential ruling by the Third Circuit.
A Wisconsin bank slapped a Chubb Corp. unit with a lawsuit Thursday seeking coverage for litigation brought against the bank by Koss Corp. over $17.4 million a now-imprisoned former Koss executive embezzled from the company's accounts.
A New York federal judge on Thursday dismissed Supervalu Inc.'s suit against National Union Fire Insurance Co. of Pittsburgh, Pa., saying the insurer was not liable for defense costs in a proposed class action alleging the grocery chain conspired to inflate prices.
Omnium Insurance and Reinsurance Co. Ltd. sued five insurers in New York state court Wednesday, seeking repayment of $60 million in total loss coverage from a 2009 vessel collision with Norway's 230,000-barrel-a-day Ekofisk oil complex in the North Sea.
Conseco Life Insurance Co. on Wednesday filed an appeal with the Ninth Circuit over a $1.9 million attorneys' fee award in a policyholder class action, following a California federal court's judgment that its planned rate hikes for life insurance policies were unlawful.
A New Jersey federal judge on Wednesday dismissed Princeton Insurance Co.'s suit against Converium Reinsurance North America Inc. over a workers’ compensation and employers’ liability reinsurance treaty after the companies reached a settlement.
A New Jersey judge on Monday dismissed SAC Capital Advisors LP and its founder Steven A. Cohen from an $8 billion suit brought by Fairfax Financial Holdings Ltd. that accused the hedge fund of a disinformation campaign to artificially lower Fairfax's share price.
An insurance expert on Wednesday told a U.S. Senate panel weighing new insurance regulation issues that most states had done a “remarkably poor job” of promoting transparent markets that would help consumers make informed decisions and let watchdogs identify problems.
Validus Holdings Ltd. upped the ante Wednesday on Transatlantic Holdings Inc., a rival it is targeting for a $3.2 billion cash-and-stock takeover, telling U.S. regulators it will try to replace the reinsurer's seven-member board and install three candidates.
Victims of Bernard L. Madoff's billion-dollar Ponzi scheme sought Monday to keep auditors Ernst & Young and KPMG LLP on the hook for some of their losses, opting to appeal a lower court's decision to dismiss the firms from the securities class action.
A Florida federal judge on Tuesday refused to issue summary judgment for two insurers claiming they don't owe subcontractors coverage for claims arising from allegedly defective Chinese drywall, saying he still needed to determine which state law controlled the dispute.
The same-sex partner of a deceased Cozen O'Connor PC insurance attorney asked a Pennsylvania federal court Monday to reject a claim from the attorney's parents for their daughter's death benefits, pushing the court to nix their attempt to wield the Defense of Marriage Act.
A federal judge ruled Tuesday that Mitsui Sumitomo Insurance Co. of America did not have to further indemnify Automatic Elevator Co. in Duke University Health System's negligence and breach of contract suit over elevator lubricant that was accidentally used to clean surgical instruments.
A Pennsylvania federal judge ruled on Tuesday that a mandate in the controversial federal health care reform law requiring individuals to buy health insurance is an unconstitutional inflation of Congress' authority under the commerce clause.
Foley & Lardner LLP said Monday it had snagged an insurance litigation pro with a knack for representing clients in environmental coverage disputes and data breach matters from Ropes & Gray LLP, expanding the firm's Boston office.
The National Credit Union Administration said Monday it had recruited a Federal Deposit Insurance Corp. attorney to become its new deputy general counsel.
Some plaintiffs in multidistrict litigation in federal court over defective Chinese drywall can opt out of a $55 million settlement and bring individual suits against a Miami-based drywall supplier in state court, a Florida state judge ruled Friday.