Insurance

  • January 22, 2018

    Real Estate Rumors: Codina, Prudential Insurance, MCZ

    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.

  • January 22, 2018

    Insurer Needn't Cover Bakery's Auto Accident: 2nd Circ.

    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.

  • January 22, 2018

    Insurance Group Of The Year: Hogan Lovells

    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.

  • January 22, 2018

    Ace Ducks Nasdaq Coverage In $26M Facebook IPO Suit

    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."

  • January 22, 2018

    Anthem Can't Escape Suit Over Prosthetic Coverage

    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.

  • January 22, 2018

    Citibank, Others Dodge Claims In Reinsurance Kickback 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.

  • January 22, 2018

    Debevoise Guides AIG’s $5.56B Deal For Validus

    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.

  • January 21, 2018

    Immigration Standoff Keeps Government Shuttered

    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. 

  • January 19, 2018

    NY Judge Reverses Standing Ax In Excellus Breach Row

    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. 

  • January 19, 2018

    Lloyd's, SFA End $64M Dickstein Malpractice Coverage Row

    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.

  • January 19, 2018

    Hanover Off Hook For Costs In Dershowitz Defamation Suit

    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.

  • January 19, 2018

    MetLife Deal Could Imperil Future SIFI Designations

    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.

  • January 19, 2018

    Liquidation Can't Be Reopened For Old Claim, NJ Panel Says

    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.

  • January 19, 2018

    Insurance Group Of The Year: Debevoise & Plimpton

    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.

  • January 19, 2018

    Fla. Panel OKs Bad Faith Claim Before Insurer's Appraisal

    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.

  • January 19, 2018

    Insurer Needn't Cover Vandalism By Ex-Tenant, Court Says

    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.

  • January 19, 2018

    9th Circ. Asks Calif. Court About Insurance Interest Disclosure

    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.

  • January 19, 2018

    Lincoln Financial Drops $3.3B On Liberty Life Assurance

    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.

  • January 18, 2018

    MetLife, US Agree To End Appeal Over Stricter Regulatory Tag

    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.

  • January 18, 2018

    West American Must Cover False Ad Suit, Nutiva Argues

    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.

Expert Analysis

  • How To Control Data As Technology Complicates E-Discovery

    Peter Ostrega

    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.

  • Clashing Marijuana Laws Create Insurer Anxiety

    Hernán Cipriotti

    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.

  • How The Cybersecurity Legal Landscape Changed In 2017

    Jonathan Kolodner

    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.

  • Looking Back At The Life Settlements Industry In 2017

    Casey_Brian_Locke Lord LLP.jpg

    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.

  • The Rise And Fall Of Statistical Sampling In RMBS Cases

    Amanda Lawrence

    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.

  • What To Do With Performance Bonds When Projects Default

    Gary Strong high rez.jpg

    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.

  • Will Crisis Management Insurance Cover Ransomware?

    Jeffrey Weinstein

    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.

  • Severe Weather Events Create Insurance Dilemmas

    Edward Murphy

    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.

  • 6 E-Discovery Predictions For 2018

    Erich Potter

    Erich Potter, discovery counsel with Oles Morrison Rinker & Baker LLP, discusses six ways e-discovery will continue to excite and confound in 2018.

  • Hotel Malware Attack Raises Unusual Insurance Questions

    Jan Larson

    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.