Insurance

  • August 20, 2013

    Hanover Ducks Coverage For Urban Outfitters IP Suit

    A Pennsylvania judge on Monday ruled that Hanover Insurance Co. has no duty to indemnify or defend Urban Outfitters Inc. in a copyright infringement suit mounted by the Navajo Nation American Indian tribe, saying the contested marketing pre-dates the policy at issue.

  • August 20, 2013

    Shooting Of Teens Was 1 Occurrence, Alaska High Court Says

    The Alaska Supreme Court on Friday slashed the amount of insurance available for negligence lawsuits brought by the parents of two teenagers who were accidentally shot by their friend, finding that there was only one occurrence involved.

  • August 20, 2013

    Anthem Blue Cross Shirks Eating Disorder Coverage, Suit Says

    Anthem Blue Cross was hit with a proposed class action in California state court Monday that accuses the insurer of wrongfully denying coverage for eating disorders, in violation of a state mental health law.

  • August 19, 2013

    10th Circ. Revives Nanodetex Legal Abuse Coverage Suit

    The Tenth Circuit on Monday reversed Carolina Casualty Insurance Co.'s successful bid to avoid indemnifying Nanodetex Corp. in a suit accusing the company of trying to bully a rival into a merger through litigation, saying a malicious prosecution exclusion does not apply.

  • August 19, 2013

    NJ Gov. Axes Bill Expanding Coverage For Substance Abuse

    New Jersey Gov. Chris Christie on Monday vetoed a measure that would have required health insurers in the State Health Benefits Program to provide the same level of coverage for certain mental illness, alcoholism and substance abuse addictions as the coverage provided for other diseases.

  • August 19, 2013

    As Health Info Proliferates, So Do HIPAA Pitfalls

    A health insurer’s $1.2 million fine last week for allegedly leaving 345,000 patient records on leased photocopiers' hard drives is a wake-up call that protected health information is virtually everywhere in the digital age and that failing to fully take stock of potential privacy breaches will be punished aggressively, experts say.

  • August 19, 2013

    Health Care Providers Want Class Cert. In UnitedHealth Row

    Health care providers made a renewed push Friday in New Jersey federal court for class certification by narrowing the group they seek to certify in a suit targeting health insurer UnitedHealth Group Inc. over reimbursement amounts they claim it improperly reduced retroactively in violation of the Employee Retirement Income Security Act.

  • August 19, 2013

    3rd Circ. Revives Device Co. Recoupment Suit Against Aetna

    The Third Circuit on Friday revived a medical device supplier’s suit accusing Aetna Inc. of improperly trying to recoup allegedly improper payments, but judges issued a somewhat narrow ruling that did not examine an eagerly anticipated element of the case involving the application of federal benefit law.

  • August 19, 2013

    Mo. High Court Holds TCPA Damages Are Not Fines

    Missouri's highest court held last week that statutory damages under the Telephone Consumer Protection Act are not fines, dealing an $8.4 million blow to an insurer that refused to defend a junk fax class action.

  • August 19, 2013

    Deals Rumor Mill: Lloyds, Alibaba, Carlyle

    Lloyds is prepping its German insurance unit for a $500 million sale, while Carlyle and other private equity players have joined the running for a Hong Kong health care provider.

  • August 19, 2013

    ResCap's $597M FGIC Deal Scores NY State Judge's Blessing

    Bankrupt Residential Capital LLC moved one step closer Friday to cementing a deal with Financial Guaranty Insurance Co. to slash the bond insurer's multibillion-dollar claims to $596.5 million after a New York state judge overseeing the insurer's rehabilitation signed off on it.

  • August 19, 2013

    Wells Fargo Board Wants FHA Deception Suit Dismissed

    Wells Fargo & Co.'s board of directors on Friday asked a California federal judge to toss for a second time a shareholder derivative suit accusing them of allowing the bank to falsify loan levels to wrongly obtain Federal Housing Administration insurance, saying the plaintiff still hadn't justified the suit.

  • August 16, 2013

    Life Settlement Investors Blame Auditor For $29M Loss

    An insurance reseller sued Rothstein Kass & Co. PC in New Jersey state court Monday, saying the accountant’s lax auditing allowed an insurance broker to steal $6 million in cash and allow the expiration of insurance policies worth $23 million.

  • August 16, 2013

    Ore. Ups The Ante For Insurers Facing Enviro Claims

    Environmental coverage litigation will be even more hard-fought in Oregon with the passage of a sweeping new law that for the first time hangs the threat of treble damages over insurers that don't abide by a host of rules for handling pollution claims.

  • August 16, 2013

    Oil Co. Gets $24M From Insurer In Katrina Coverage Row

    A Texas federal judge ordered St. Paul Surplus Lines Insurance Co. to pay roughly $24 million to oil field operator Cox Operating LLC over Hurricane Katrina damage, refusing Friday to reduce a jury award by payments other insurers made over the same clean-up costs.

  • August 16, 2013

    DOJ Asks Fed. Circ. To Relieve Bernanke From AIG Testimony

    The Justice Department on Friday challenged an order for Federal Reserve Chairman Ben Bernanke to testify in Starr International Co. Inc.’s $55.5 billion suit over the American International Group Inc. bailout, arguing he can’t provide any relevant information that the DOJ hasn’t already offered.

  • August 16, 2013

    Mutual Benefits Exec Gets 15 Years For $837M Scam

    A Florida federal judge on Friday sentenced former Mutual Benefits Corp. executive Steven Steiner to 15 years' imprisonment for money laundering and obstructing justice in an alleged $837 million insurance investment scam.

  • August 16, 2013

    Jorgensen Demands Coverage For Wash. Superfund Cleanup

    The Jorgensen Forge Corp. hit Illinois Union Insurance Co. with a suit in Washington federal court on Thursday demanding that the insurer cover expenses from a battle with the U.S. Environmental Protection Agency over contamination at a Superfund site near downtown Seattle.

  • August 16, 2013

    Freddie Mac Challenges $600M ResCap, FGIC Settlement

    Freddie Mac asked a New York bankruptcy judge Friday to reject a settlement between Residential Capital LLC and Financial Guaranty Insurance Co. that would slash the bond insurer's claim from $5 billion to $596.5 million.

  • August 16, 2013

    Penn National Committed Up To $50M Fraud, Reinsurer Claims

    A reinsurer on Thursday accused Pennsylvania National Mutual Casualty Insurance Co. of committing fraud to score a discount of up to $50 million on reinsurance for its exposure to lead paint injury claims through a landlord insurance program.