Former American International Group Inc. CEO Maurice "Hank" Greenberg was just the latest to criticize New York's Martin Act when he called the securities fraud law a "very dangerous weapon," but experts said the new Republican administration may find the time is ripe to curtail the powers of a liberal state attorney general.
With new cybersecurity rules in New York for banks and insurers giving plaintiffs' attorneys more ammunition to pursue claims over data breaches, financial services firms and their vendors should closely scrutinize their insurance policies to ensure sufficient protections are in place to cover potential legal exposures, lawyers say.
GEICO sued two plaintiffs' attorneys in Pennsylvania federal court Tuesday, alleging they obtained confidential information in discovery in a putative class action against the insurer and tried to use it to get a leg up in a similar suit against GEICO rival United Services Automobile Association, exposing GEICO's trade secrets.
An attorney convicted for conspiring with former NFL player Willie Gault to illegally inflate the stock of their heart monitor company told a California state appeals court Wednesday that an insurer wrongly denied defense coverage based on a fraud exclusion, saying his pending criminal appeal means there’s no final judgment of fraud.
An English consumer who attempted to lead a class action accusing Avis and subsidiary Budget Rent-A-Car of fraudulently offering supplemental insurance in their rental car contracts has asked the 11th Circuit to recertify her class.
A Virginia federal judge on Wednesday ruled BigLaw malpractice insurer ALPS can duck out of covering an entertainment lawyer in a lawsuit over a rights deal gone bad for a movie about martial arts star Bruce Lee.
An ex-Chubb Corp. executive has filed a whistleblower lawsuit in New Jersey state court alleging he was fired after he raised concerns that the company destroyed documents related to insurance claims litigation and asked him to keep quiet about it.
A New Jersey federal judge on Tuesday tossed a $1.5 million suit alleging JPMorgan Chase Bank N.A. failed to force-place flood insurance on an oceanside home before Superstorm Sandy, saying the case could not be tried in federal court because the claims were based on state law.
The District of Columbia federal judge who preliminarily enjoined Anthem and Cigna’s proposed $54 billion merger on Tuesday released the redacted opinion detailing her decision. Here, Law360 shares three insights gleaned by experts from U.S. District Judge Amy B. Jackson’s analysis.
AIG and agricultural product company Stoller Enterprises Inc. on Tuesday both objected to a Texas magistrate judge's recommendation to throw out nearly all of Stoller’s suit seeking coverage from AIG for an unfair competition suit settlement of an undisclosed amount after triple damages totaled $36 million.
The owner of a yacht told the Eleventh Circuit on Tuesday that a federal judge was right to find that not leaks but bilge-pump failure sunk a vessel called the It's All Good that was covered by an American International Group Inc. unit.
After hearing arguments in the dispute in December, the Pennsylvania Supreme Court on Wednesday dropped an appeal over whether a law firm could enforce a contingent fee agreement entitling it to part of an ex-client’s recovery even after the client hired new counsel to handle his case.
A group of homeowners on Friday asked the Eleventh Circuit to revive their putative class action alleging Caliber Home Loans Inc. and American Security Insurance Co. inflated their insurance rates via a kickback scheme, arguing that a doctrine barring challenges to rates approved by regulators doesn't defeat their claims.
A D.C. federal judge on Tuesday granted a portion of a request by consumers suing insurer Anthem Inc. over its massive 2015 data breach for access to documents stemming from a government audit of the insurer’s systems in 2013, but found that some of the sought-after material was protected.
A former New Jersey attorney and his father potentially facing decades in prison for operating a Ponzi scheme that bilked dozens of the lawyer’s clients out of $13 million tendered not guilty pleas Tuesday in federal court in Camden.
Customers accusing car rental giant Dollar Thrifty Automotive Group Inc. of tricking them into buying unnecessary add-on insurance agreed Tuesday to drop their suit after negotiating a settlement months after a California federal judge rejected their class certification bid, saying the proposed class was too broad.
The U.S. Supreme Court on Tuesday turned away an appeal from a group of chiropractors seeking to overturn a Kentucky anti-solicitation law that prevents them from alerting car accident victims to their entitlement to medical benefits, upholding a Sixth Circuit refusal to apply strict scrutiny to content-based restrictions on commercial speech.
The Seventh Circuit Friday partially reversed a district court decision denying the Indianapolis Airport Authority insurance coverage for construction delays, saying Travelers was liable for the expenses of rushing the project to try to meet the deadline.
A coalition of Illinois pastors is claiming victory in its suit over a state law banning conversion therapy for gay youth, saying even though a federal judge tossed the suit on Wednesday, the ruling more or less amounts to what they’d sought in the first place: an order declaring pastors exempt from the law.
An Ohio federal judge on Monday ruled that Selective Insurance Co. of America has no duty to defend or indemnify sports apparel company H5G LLC in a trademark infringement action brought by a rival, concluding that the underlying suit doesn't allege a potentially covered personal or advertising injury.
Detractors of litigation funding have strained to characterize a recent decision from a California federal court as significant headway in their crusade against the litigation funding industry. However, in truth, this is a victory for both the industry and those in need of capital to bring meritorious claims against wrongdoers in an often prohibitively expensive legal system, say Matthew Harrison and Priya G. Pai of Bentham IMF.
The California Supreme Court recently reversed its 2003 decision in Henkel v. Hartford, where it previously held that a no-assignment clause will bar the transfer of insurance coverage rights to a successor entity. The clear majority trend among courts across the country is to uphold the ability of parties to transfer coverage in corporate transactions and prevent the forfeiture of historical insurance assets, say Michael Ginsberg ... (continued)
The Texas Fourth Court of Appeals' ruling in Garcia v. State Farm is a definitive answer to one question commonly presented in hail disputes, holding that an insurer's payment of an appraisal award generally insulates the insurer from liability. This raises some ethical concerns, as hail lawyers continue to sign up insureds on a 40 percent contingency fee basis while knowing that their clients' disputes will likely be resolved by s... (continued)
Last month, the Washington state Senate introduced a bill that would amend its anti-rebate and inducement laws to allow insurers to offer free goods and services. Supporters argue that Washington is the only state in the country to force consumers to pay for technology that is free everywhere else, while opponents have expressed concern for fair competition, say Shawn Hanson and Crystal Roberts of Akin Gump Strauss Hauer & Feld LLP.
Major cybercrime cases in the final quarter of 2016 indicate the courts are growing stricter in interpreting insurance policy provisions. In particular, they denied insurance coverage for forged government guarantees and denied coverage for a vendor theft involving emails, says David Bergenfeld of D'Amato & Lynch LLP.
Fred Korematsu’s U.S. Supreme Court case challenging President Franklin Roosevelt’s executive order that led to the incarceration of approximately 120,000 people of Japanese ancestry may sound like ancient history. However, Feb. 19 marks the 75th anniversary of the order's signing, and that it’s celebrating its diamond anniversary now is breathtaking timing, says Randy Maniloff of White and Williams LLP.
Although Health Republic's liquidation is a matter of considerable public interest, the process has been far from transparent. Last fall, the National Association of Insurance Commissioners' discussion of consumer operated and oriented plans was closed to the public, in potential violation of the NAIC's policy statement on open meetings, says James Veach of Mound Cotton Wollan & Greengrass LLP.
General counsels face the challenging task of understanding how companies can navigate the rules surrounding uses of artificial intelligence. To get smart on AI, general counsels must ask the right questions about areas such as human resources, intellectual property, liability and insurance, say Bruce Heiman and Elana Reman of K&L Gates LLP.
In the seventh part of this series on Health Republic's liquidation process, James Veach of Mound Cotton Wollan & Greengrass LLP summarizes his recent attempt to appear as a friend of the court overseeing the liquidation.
There is no substitute for a well-drafted, ironclad insurance policy, so it is imperative that insurers either expressly exclude punitive damages in actual policies, or unambiguous, limiting language if the agreement is to cover punitive damages, says Rory Jurman of Fowler White Burnett PA.