Codina Partners has reportedly picked up 17 acres in Florida for $9.9 million, Prudential Insurance's real estate division is said to have sold a Florida business park for $22.8 million, and a venture that includes MCZ Development is said to have picked up a property in Chicago for $15.25 million.
The Second Circuit on Monday found Citizens Insurance does not have to cover a New York bakery for a van crash, saying the company did not have to send the bakery a special notice for a loss not covered by its policy.
Hogan Lovells' insurance group scored a win for Blue Cross Blue Shield in antitrust multidistrict litigation and settled a groundbreaking data breach suit against health insurer Anthem Inc., cases that helped it earn a place as one of Law360's 2017 Insurance Practice Groups of the Year.
Ace American Insurance Co. does not have to pay into a $26.5 million settlement reached between its insured Nasdaq and scores of retail investors who sued the exchange over Facebook’s bungled initial public offering, the Second Circuit said Monday, ruling an exclusion applies because the investors are “customers."
A California federal judge refused on Friday to toss a proposed class action alleging Anthem Inc. and its subsidiary wrongfully deny coverage for lower limb prostheses, finding that Anthem “had a hand” in developing the insurance policy’s guidelines and that’s enough to keep it in the suit.
A Pennsylvania federal judge on Friday tossed a proposed class alleging Citibank NA schemed with private mortgage insurers in a kickback arrangement to push fraudulent reinsurance on home mortgages, finding the facts matched up with a Third Circuit ruling in which the appeals court said a homeowner was too late in bringing claims.
AIG said Monday it will pay $5.56 billion to acquire Bermuda-headquartered insurer and asset manager Validus Holdings Ltd. as the insurance giant looks to expand after shedding its status as a systemically important financial institution.
The Senate failed to reach a funding deal Sunday night, extending the government shutdown as both parties continued to clash over longstanding spending and immigration issues.
The New York federal judge overseeing consolidated actions over a 2015 data breach at Excellus BlueCross BlueShield on Friday reinstated claims brought by customers who claimed their data had been exposed but not misused, reversing her earlier decision that these plaintiffs hadn't alleged an injury sufficient to establish Article III standing.
The Ninth Circuit on Tuesday dismissed a dispute between Lloyd's of London and SFA Group over responsibility for a $64 million malpractice judgment against a former Dickstein Shapiro lawyer, at the request of both parties.
Privilege Underwriters Reciprocal Exchange can’t force Hanover Insurance Group to cover its costs after both insurers paid to settle a lurid defamation suit against famed lawyer Alan Dershowitz involving claims of child sex slavery, a Florida federal court ruled Friday.
Future financial regulators will have a more difficult time targeting nonbank financial firms for extra regulation after the Trump administration on Thursday agreed to include cost-benefit and other analyses in future designations of systemically important financial institutions, experts said.
The New Jersey Appellate Division on Friday affirmed a lower court’s finding that a Michigan state road agency can’t reopen a Garden State insurer’s decades-old liquidation case in order to recoup payouts from car crash claims, ruling that the insolvency was properly finalized.
Debevoise & Plimpton LLP had another year cranking out big M&A deals within the insurance sector and continuing its litigation work in suits like an investor class action against MetLife, making it a Law360 Insurance Practice Group of the Year.
A Florida appeals court on Friday declined to reconsider its reversal of a lower court decision that a State Farm policyholder filed his sinkhole damage suit too soon, finding there is nothing in the law saying he had to wait for State Farm’s appraisal.
A New York federal judge on Thursday found Aspen American Insurance Co. does not have to cover vandalism to a New York restaurant by an evicted sublessee, saying that a policy exclusion for damage by people with access to the property applied.
The Ninth Circuit on Thursday asked the California Supreme Court to weigh in on whether Northwestern Mutual Life Insurance Co. and other insurers are exempt from disclosing compound interest charges on policy loans.
Insurance and investments firm Lincoln Financial Group said Friday it has acquired Boston-based Liberty Life Assurance Co. from Liberty Mutual Insurance Group for $3.3 billion.
MetLife Inc. and the government on Thursday agreed to end an appeal of a judge’s order releasing the insurer from its status as a systemically important financial institution, ending a fight that fizzled after the Trump administration started easing regulations put into place after the financial crisis.
Nutiva Inc. urged a California federal judge Thursday to find that West American Insurance Co. and two other insurers must defend the food company against a putative class action alleging Nutiva misbrands its coconut oil as healthful, arguing the claims are covered by a “bodily injury” provision in the policy.
While technology is making certain aspects of e-discovery faster and easier, it is also creating new challenges as quickly as we can provide solutions. The good news is that there are concrete steps businesses can take to address those challenges, says Peter Ostrega of Consilio LLC.
The dichotomy between federal and state marijuana laws challenges courts to evaluate the validity of contracts, including insurance policies. While only a handful of such cases were litigated last year, insurers and marijuana businesses alike are anxious to see how courts will deal with certain claims expected to surface. Some of the latest case law comes from Arizona and Michigan, says Hernán Cipriotti of Zelle LLP.
Over the last year, the existential risk posed by cyberattacks and data security vulnerabilities has become one of the top concerns for boards of directors, management, government agencies and the public. 2017 was punctuated by a series of headline-grabbing breaches, fast-moving regulatory developments around the globe, and record-breaking settlements by companies, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.
While 2017 was a relatively quiet year on the regulatory front for life settlements, Delaware and Florida adopted major legislative reforms that will affect the industry. Adjustments to the federal income tax code at the end of the year also brought some important changes, say Brian Casey and Thomas Sherman of Locke Lord LLP.
In the early days of the residential mortgage-backed securities and repurchase litigation that followed the 2008 crisis, plaintiffs’ strategy of proving their allegations through statistical sampling was highly successful. However, in recent years, a new trend has emerged, say attorneys with Buckley Sandler LLP.
Sureties have surety defenses which sometimes allow them to disclaim coverage under performance bonds. However, this often requires a long and lengthy litigation in which the surety must sustain multiple burdens of proof, says Gary Strong of Seiger Gfeller Laurie LLP.
Kidnap, ransom and extortion insurance policies are now under increased scrutiny by insureds seeking potential coverage for ransomware attacks. Determining whether or not these attacks constitute extortion will raise new questions and issues, say Jeffrey Weinstein and Bruce Kaliner of Mound Cotton Wollan & Grreengrass LLP.
In recent years, severe weather events and natural catastrophes have been on the rise in California and elsewhere. Some insurers are becoming more restrictive with their homeowners policies, leaving many without adequate insurance for natural disasters, says Edward Murphy of Foran Glennon Palandech Ponzi & Rudloff PC.
Erich Potter, discovery counsel with Oles Morrison Rinker & Baker LLP, discusses six ways e-discovery will continue to excite and confound in 2018.
A Florida district court is poised to decide several interesting questions in St. Paul v. Rosen, offering policyholders guidance on the extent to which traditional insurance policies can protect them from data breaches and on whether policyholders' corporate affiliates can look to their policies for protection, say Jan Larson and Alex Langlinais of Jenner & Block LLP.