Insurance

  • December 11, 2017

    What Your Colleagues Think Of Litigation Finance

    We asked, and you answered. Here are the results of Law360’s inaugural survey on third-party legal funding.

  • December 11, 2017

    Why Investors Are Taking The Leap To 3rd-Party Funding

    They often don’t know exactly what they’re buying, and there’s an ever-present chance they could come up empty in a given case. Here’s why investors are flocking to litigation finance anyway.

  • December 11, 2017

    Has Litigation Finance Shed Its Stigma?

    Once a taboo topic in the halls of BigLaw, litigation finance is now winning over converts — and pressing their rivals to join the bandwagon.

  • December 11, 2017

    Dunmore Owner Must Cough Up $16M In Travelers Bond Row

    The former owner of defunct home builder Dunmore Homes Inc. has been hit with an order in a California federal court directing him to cough up millions of dollars that he allegedly has stashed overseas in order to satisfy a $16 million judgment Travelers won in a bond insurance suit.

  • December 11, 2017

    FDIC Says Judge Should Overlook Citibank Refusal To OK Suit

    The Federal Deposit Insurance Corp. on Friday urged a New York federal judge to let its cases against Citibank, U.S. Bank and Bank of New York Mellon on behalf of a failed Texas bank go ahead even though Citibank has refused to ratify the cases, saying it has fixed the legal issues that resulted in the suits’ dismissal without Citibank’s signature.

  • December 11, 2017

    EU Finance Chiefs Warn Congress Over GOP Tax Bills

    The finance chiefs of Europe's five largest economies on Monday warned U.S. Treasury Secretary Steve Mnuchin and other U.S. leaders that provisions of the Republican tax bills could be at odds with World Trade Organization rules, break double-taxation agreements, constitute unfair trade practices and hurt international banking and insurance.

  • December 11, 2017

    Power Co. Not Owed Defense Of $35M Fraud Suit, Insurer Says

    Zurich American Insurance Co. on Friday urged a Maine federal judge to hold that it doesn't have to defend electricity supplier Electricity Maine LLC in a proposed class action alleging the company overbilled customers by about $35 million, contending that the underlying complaint doesn't allege any potentially covered claims.

  • December 11, 2017

    Northwestern Mutual Must Hold Manafort's Insurance Policy

    A federal judge on Monday granted Special Counsel Robert Mueller's request that Northwestern Mutual Life Insurance Co. be required to preserve the value of a life insurance policy for indicted former Trump campaign manager Paul Manafort and his wife.

  • December 11, 2017

    Insurer Seeks Quick Win In Live Nation Concert Injuries Suit

    Secura Insurance on Friday told a Kentucky federal court it does not have to provide concert venue operator Live Nation coverage for injuries claimed at a concert, saying its policy only covers the company that provided security for the concert.

  • December 11, 2017

    Noted Medical Malpractice Defense Atty Joins Dorf & Nelson

    A former Martin Clearwater & Bell LLP medical malpractice attorney has joined Dorf & Nelson LLP as a partner and will head its medical malpractice defense group in New York, the firm announced Monday.

  • December 8, 2017

    The Law Firms Of The 2017 MVPs

    Law360's MVP award goes to attorneys who have distinguished themselves from their peers in litigation, deals and other complex matters. Find the MVPs at your firm here.

  • December 8, 2017

    Law360 MVP Awards Go To Top Attorneys From 78 Firms

    The elite slate of attorneys chosen as Law360’s 2017 MVPs have distinguished themselves from their peers by securing hard-earned successes in high-stakes litigation, complex global matters and record-breaking deals.

  • December 8, 2017

    UK Litigation Roundup: Here's What You Missed In London

    The last week has seen a group of shipping companies sue Oman Insurance Co. PSC, RBC Trustees lodge a claim against UBS Employee Benefits Trust, and offshore law firm Appleby bring a confidential information suit against BBC and the Guardian. Here, Law360 looks at those and other new claims in the U.K.

  • December 8, 2017

    Former Mass. State Lawmaker Indicted On Corruption Charges

    A former leader of the Massachusetts Senate denied any wrongdoing on Friday after prosecutors unsealed a 113-count federal indictment charging him with peddling public policy and using his private firm and a shell company to take in about $1 million in bribes, kickbacks and free coffee.

  • December 8, 2017

    Travelers Can't Ditch Defense Coverage Suit Over PCB Claims

    Travelers Indemnity Co. can’t shut down a potentially billion-dollar coverage dispute with Magnetek Inc. just because the plaintiff failed to add another company as a defendant, an Illinois federal court ruled Thursday, meaning the insurer will have to win on the merits to avoid being drawn into an underlying suit by Monsanto Co.

  • December 8, 2017

    Pharma Group Sues Calif. Over Drug Pricing Law

    Trade group Pharmaceutical Research and Manufacturers of America on Friday sued California to block a newly approved drug pricing law, calling it a vast overreach that amounts to a “nationwide ban” on price increases.

  • December 8, 2017

    Jury Rejects SEC's Delta Petroleum Insider Trading Case

    Delta Petroleum founder Roger Parker beat an insider trading suit brought by the U.S. Securities and Exchange Commission this week when a Colorado federal jury found at a retrial that the agency hadn't proved all the elements of its case.

  • December 8, 2017

    Prudential Denied Quick Win In Beneficiaries' ERISA Suit

    A Pennsylvania federal judge issued a mixed ruling in a suit accusing Prudential Insurance Co. of violating the Employee Retirement Income Security Act, granting the beneficiaries a win on their breach of fiduciary duty claim but throwing out state law claims and leaving the alleged ERISA violation up to a jury.

  • December 8, 2017

    Insurer Sues For $11.7M After NY Country Club Fire

    The insurer of a New York country club that caught fire in 2014 is seeking $11.7 million from the companies that it claims caused the fire, according to a suit filed Thursday in New York state court.

  • December 8, 2017

    Taxation With Representation: Shearman, Sullivan, Wachtell

    In this week’s Taxation With Representation, CVS bought Aetna for $69 billion, UnitedHealth Group Inc. subsidiary Optum acquired Davita for $4.9 billion, Prysmian snapped up General Cable for $3 billion, and Hartford sold its life insurance business for $2.05 billion.

Expert Analysis

  • 6 Things You Need To Know About Millennial Jurors

    Zachary Martin

    Millennials are now the largest living generation and comprise one-third of jurors. While it is impossible to generalize a group so large and diverse, trial lawyers should be mindful of certain generational differences, say baby boomer Lee Hollis and millennial Zachary Martin of Lightfoot Franklin & White LLC.

  • Series

    40 Years Of FCPA: A View From The Monitorship Trenches

    Gil Soffer

    There have been many articles on the corporate monitor selection process, but you will find little guidance on how to prepare yourself for a job that has few parallels. There are three key lessons I have learned over the course of a Foreign Corrupt Practices Act monitorship still in progress, says Gil Soffer of Katten Muchin Rosenman LLP.

  • Series

    40 Years Of FCPA: The Untold Story Of The Resource Guide

    Charles Duross

    Much has been written about the 2012 "Resource Guide to the U.S. Foreign Corrupt Practices Act," but no one has talked about the behind-the-scenes work that produced the guide — until now, say Charles Duross, former chief of the FCPA Unit at the U.S. Department of Justice, and Kara Novaco Brockmeyer, former chief of the FCPA Unit at the U.S. Securities and Exchange Commission.

  • Series

    40 Years Of FCPA: A Journey From Conviction To Dismissal

    Janet Levine

    The twist in the Lindsey Manufacturing Foreign Corrupt Practices Act case was the truncated time in which we prepared. Having refused to waive their rights to a speedy trial, our clients took control of the case — this, along with the compressed time frame, forced the government to make errors, say Janet Levine, Sima Namiri-Kalantari and Megan Weisgerber of Crowell & Moring LLP.

  • Liability Insurance May Cover Intentional Acts In Penn.

    Timothy Law

    Under Pennsylvania law, liability policies can cover both deliberate conduct and intentional acts if the damage itself is unintended and not substantially certain to result from the deliberate and intentional conduct, as reaffirmed in the Pennsylvania Superior Court's recent ruling in Erie v. Moore, say Timothy Law and Brian Himmel of Reed Smith LLP.

  • D&O Insurance Coverage Tips For Financial Institutions

    Robert Long

    Directors and officers insurance coverage terms can be particularly important for executives in the heavily regulated financial services industry. Fortunately, in the midst of a very competitive insurance market, new and broader coverage features have appeared, say Robert Long and Nanci Weissgold of Alston & Bird LLP.

  • Can Labor Be Depreciated In Actual Cash Value Calculations?

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    Depreciation of labor continues to be a hot-topic, divisive issue in actual cash value calculations. Based upon the lack of consensus and recent glut of litigation on the topic, insurance companies should be aware of the law in the jurisdiction in which they are calculating losses to avoid adjustment pitfalls, says Tracey Jordan of Foran Glennon Palandech Ponzi & Rudloff PC.

  • Series

    40 Years Of FCPA: The Siemens Lesson — Tillerson Is Right

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    Since its whopping $800 million Foreign Corrupt Practices Act settlement in 2008, Siemens cleaned up — and it has “cleaned up” in its long-standing competition with General Electric. How? As Secretary of State Rex Tillerson reportedly told President Donald Trump, you don’t need to pay bribes to succeed in international business, says Peter Y. Solmssen, former general counsel of Siemens.

  • Series

    40 Years Of FCPA: The Rise In International Enforcement

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    The 2008 Siemens matter — then the largest sanction ever imposed in a Foreign Corrupt Practices Act enforcement action — set the stage for future cross-collaboration in global anti-corruption enforcement, say Cheryl Scarboro, former chief of the FCPA Unit at the U.S. Securities and Exchange Commission, and Diana Wielocha of Simpson Thacher & Bartlett LLP.

  • Bringing Cayman Derivative Claims In NY Just Got Easier

    Robert Quirk

    The New York high court’s recent holding in Davis v. Scottish Re Group removes a significant practical hurdle to bringing derivative claims involving Cayman Islands corporations. With the Cayman leave-of-court rule out of the picture, shareholders need not arrive at the courthouse door already equipped with evidence to support their claim, say Rob Quirk and Stephen Younger of Patterson Belknap Webb & Tyler LLP.