Insurer Balks At Coverage For ProMedica Merger Suit

Law360, New York (May 10, 2011, 3:36 PM EDT) -- The Employers' Fire Insurance Co. hit ProMedica Health System Inc. with a suit Tuesday seeking a declaration from an Ohio federal court that it isn’t obligated to cover defense costs in antitrust litigation challenging ProMedica’s merger with a hospital.

Employers' says ProMedica was well aware that the Federal Trade Commission was investigating its planned merger with St. Luke’s Hospital in Maumee, Ohio, but waited to inform the insurer, known as OneBeacon, until after the FTC sued to block the merger, when a new policy year had...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.