AIG's $13M Battle May Bolster Insurers' Settlement Challenges
Law360 (August 20, 2019, 10:51 PM EDT) -- The Ninth Circuit recently sought the Arizona Supreme Court’s help to decide whether an AIG unit was justified in its refusal to cover the University of Phoenix's $13 million settlement of a class action, and attorneys say a ruling in the insurance company’s favor could give other carriers more leverage to challenge the reasonableness of policyholders’ deals.
The long-running dispute revolves around a key term in a directors and officers policy that AIG unit National Union Fire Insurance Co. of Pittsburgh, Pa., issued the for-profit university's parent, Apollo Education Group, providing that the insurer won't unreasonably withhold consent for a settlement...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!