A massive explosion at a Texas fertilizer plant that killed up to 15 and wreaked extensive property damage last week is expected to cause $100 million in insured losses, an insurance industry group said Wednesday.
Medicare has recovered just a sliver of as much as $70 million in overpayments to suppliers of durable medical equipment despite a mandate that such companies obtain bonds to guarantee taxpayers can recoup excessive reimbursement, according to a report issued Wednesday.
A significantly smaller percentage of in-house counsel used some form of alternative legal fee structures last year, according to a new legal survey from Fulbright & Jaworski LLP that defied previous years' upward trends and more vocal criticism in recent years of the billable hour.
Corporations beefed up their legal departments in 2012 and expect to do the same this year, according to a new report, with mounting regulatory challenges and abundant litigation combining to boost the need for in-house expertise.
In-house corporate lawyers last year rated fixed-fee legal pricing the most effective alternative fee model to the straight billable hour, according to an annual Fulbright & Jaworski LLP survey released Tuesday.
Corporate in-house counsel have named 11 insurance industry attorneys they say stand out in the field for exceptional client services, emphasizing the importance of communication and business understanding in securing results.
Corporate counsel singled out nearly 100 litigators as the most client service-driven in their field thanks to their innate ability to deliver solid outcomes, effectively communicate litigation strategy and prioritize their clients' business interests.
The American Medical Association said Wednesday that the U.S. health insurance market suffers from a widespread lack of competition that has resulted in higher premiums or reduced benefits.
Estimates by a California-based risk modeling firm have placed insurer losses from Hurricane Sandy to more than double that of some initial projections to as high as $25 billion, according to news reports Wednesday.
For more than two years, Humana Insurance Co. failed to prevent unallowable partial fills of drugs with a high potential for abuse while under contract with the U.S. Centers for Medicare & Medicaid Services, according to a federal report released Thursday.
An inspector general's report released Tuesday found Medicaid is still overpaying for some prescription drugs and recommended that the program quickly implement changes — opposed by the pharmacy industry — that would lower the maximum reimbursement for these drugs.
A report released Thursday by Fair Isaac Corp. and the Property Casualty Insurers Association of America suggests the cost of insurance fraud claims is higher than previously thought, with nearly one-third of surveyed insurers estimating fraud represents 20 percent of their claims volume.
Private health insurance coverage has spiked among young Americans because of a provision in the Patient Protection and Affordable Care Act allowing adult children to remain on parents’ policies until their 26th birthday, according to a study released Monday that squares with findings elsewhere.
When dealing with high-stakes litigation, there are four top-notch firms that in-house counsel dread seeing on the other side of the courtroom, according to a new survey of corporate counsel.
President Barack Obama's health care law will likely lead to little change in the number of people covered by employer-sponsored health insurance, although statistical studies and employer surveys vary widely in their predictions, according to a report released Monday.
A majority of employers expect their health care plan costs to rise under the Affordable Care Act, with the wallets of retail and hospitality employers that employ part-time, low-paid workers feeling the biggest bite, consulting firm Mercer LLC said Wednesday.
Texas’ top auditor said Friday that the state’s wind and hail insurance provider for coastal counties has resolved many inefficiencies in its claim resolution process, but needs to continue improving accounting issues and data security.
Florida and Texas are dramatically outpacing the national average when it comes to questionable billing of Medicare for home health services, according to a government audit issued Thursday that recommends temporarily halting enrollment of new providers and suppliers in the states.
More European businesses with significant exposure abroad and in major cities at home should consider taking out political risk and terrorism policies to protect themselves from property damage and business interruption losses stemming from a terrorist attack or political unrest, experts say.
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.
The pros of using predictive coding far outweigh the cons. Given the heavy pressure on law firms and in-house counsel to reduce discovery costs, as well as the Justice Department's recent stance on the subject, it appears predictive coding will continue to emerge from the obscure world of legal technology to the mainstream of legal practice, say Michael Moscato and Myles Bartley of Curtis Mallet-Prevost Colt & Mosle LLP.
With the recent change in Ohio law on employer intentional tort claims comes changes to the good faith obligations an insurance carrier owes to its insureds: In cases involving employer intentional tort claims, insurers may no longer select counsel. Rather, insureds have the right to select counsel with whom they have a preferred relationship and whom they trust, says Thomas Wyatt Palmer of Thompson Hine LLP.
Although there are benefits to “going green” in the construction, development and operation of buildings, there are also risks unique to green building that will test the boundaries of coverage under typical liability insurance policies, say attorneys with Sedgwick LLP.
For insurers in Florida, the Florida District Court of Appeal decision in Goheagan v. American Vehicle Insurance Co. is troublesome as it suggests that even the best claims-settlement practices may not completely shield an insurer from potential bad faith liability, says Kip Adams of Edwards Wildman Palmer LLP.
The savings and loan holding company regulatory regime established by the Dodd-Frank Act appears to be having the ultimate effect of reducing the number of SLHCs, especially those that are predominantly insurance enterprises, say attorneys with Debevoise & Plimpton LLP.
It is time for the New Jersey Supreme Court to take up again the construction-defect coverage issues first addressed in Weedo v. Stone-E-Brick Inc. and to update them for the post-1986 commercial general liability coverage of subcontractors’ faulty workmanship, says Carl Salisbury of Kilpatrick Townsend Stockton LLP.
The California Supreme Court's upcoming decision in Hartford Casualty Insurance Co. v. Swift Distribution Inc. will resolve a hot debate about the scope of implied disparagement liability under California law, likely determining whether insurers must defend lawsuits involving allegations of intellectual property infringement, unfair competition and false advertising, says Tyler Gerking of Farella Braun & Martel LLP.
The importance of the Federal Insurance office should not be underestimated. In order to understand why, one has to examine how the regulation of the insurance business actually operates and what forces are driving the U.S. regulatory agenda, says Skip Myers of Morris Manning & Martin LLP.
A case that seems to have gone relatively unnoticed is ASR Levensverzekering NV v. Swiss Re Financial Products Corporation. Dismissed by the New York Supreme Court, the case provides useful insights into the application of New York fraud and contract law in the context of complex financial transactions, say James Bliss and Kevin Broughel of Paul Hastings LLP.
Many lawyers are asking whether placing electronically stored information in the cloud could inadvertently waive the attorney-client privilege and whether the government or a civil litigant could obtain ESI directly from a cloud service provider. In answering these questions, there are a number of aspects of the cloud worth considering, say Timothy Broas and Matthew Saxon of Winston & Strawn LLP.