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Insurance

  • June 24, 2019

    BREAKING: Supreme Court Will Hear $12B ACA Clash

    The U.S. Supreme Court on Monday agreed to scrutinize Congress’ refusal to authorize $12 billion in expected funding for an Affordable Care Act stabilization program aimed at encouraging sales by health insurance companies during the law’s first few years.

  • June 21, 2019

    P&G Prevails In ERISA Suit Over Disability Benefits

    Procter & Gamble did not break the law by ending an employee's partial disability benefits, a Missouri federal judge has ruled, finding that the benefits plan allowed the cancellation and the employee didn't adequately show he was more than partially disabled.

  • June 21, 2019

    Lacewell Confirmed As NY's Top Financial Services Regulator

    After more than 100 days on the job as acting head of the New York State Department of Financial Services, Linda Lacewell has received state senators' blessing to carry on in a permanent capacity as the state's top banking and insurance regulator.

  • June 21, 2019

    10th Circ. Dumps Suit Over Fracking-Linked Quake Costs

    The Tenth Circuit affirmed the dismissal Friday of a putative class action alleging fracking wastewater disposal by Chesapeake, Devon and other companies in Oklahoma increased the risk of earthquakes, deciding that increased earthquake insurance rates isn't a sufficient injury to support the property owners' claim.

  • June 21, 2019

    Colo. Funeral Funder Gets 10 Years For $19M Ponzi Scheme

    The owner of a group of funeral service funding companies on Thursday was sentenced to just more than 10 years in prison, after admitting to operating a Ponzi scheme that cost investors more than $19 million.

  • June 21, 2019

    Va. Suits Alleging Janssen Cancer Drug 'Monopoly' Sent To NJ

    A Virginia federal judge on Friday combined several class actions accusing Janssen Biotech of monopolizing sales of cancer drug Zytiga and sent them to New Jersey, saying not only does the case belong there but she doesn't want to overcrowd the Old Dominion court's docket.

  • June 21, 2019

    Gas Co. Insurers Want $189M Harvey Damage Row Arbitrated

    A group of insurers has asked a New York state court to force arbitration of a coverage dispute with Freeport LNG Development LP over $189 million in losses the company and its business partners allegedly incurred when Hurricane Harvey struck a construction project at a liquefied natural gas plant in Texas.

  • June 21, 2019

    Hospital Workers Say They Paid For Health Care, Got Nothing

    Hundreds of employees at a Kentucky hospital got an unwelcome surprise when they discovered that money deducted from their paychecks to fund their health plan had disappeared and they lacked health care coverage, according to a new Employee Retirement Income Security Act lawsuit.

  • June 21, 2019

    State Farm Wants To Sink Water Damage Coverage Class

    State Farm Fire and Casualty Insurance Co. asked a New Jersey federal judge to toss a policyholder's proposed class action over the denial of water damage coverage, arguing Friday that the policy at issue excluded such losses.

  • June 21, 2019

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

    The last week has seen a cryptocurrency operator facing investigations in the U.S. sue HSBC, a number of food import-export companies hit cargo giant MSC with claims, and the Lloyds-owned Bank of Scotland take on the attorney general. Here, Law360 looks at those and other new claims in the U.K.

  • June 21, 2019

    Insurance Exec Admits $450K 'Varsity Blues' Bribes For 2 Kids

    A California insurance executive pled guilty in Boston federal court Friday to paying $450,000 in bribes to get his daughter and son accepted to the University of Southern California as fraudulent athletic recruits as part of the so-called Varsity Blues college admissions scheme.

  • June 20, 2019

    Alliant Hit With Del. Injunction Over Lockton Worker Raid

    Citing a potentially damning list of "reasonably probable" trial findings, a Delaware vice chancellor on Thursday issued a preliminary injunction barring Alliant Insurance Services Inc. from servicing dozens of brokerage clients allegedly gained by raiding the staff of a Denver-based Lockton Cos. Inc. affiliate.

  • June 20, 2019

    Deals Rumor Mill: UnitedHealth, Fortress, Chevron Phillips

    UnitedHealth is reportedly buying PE-backed health care payments company Equian for $3.2 billion, Fortress Investment is said to be looking at options for CoreVest, and a Phillips 66 and Chevron Corp. joint venture has reportedly lobbed a $15 billion bid for Nova Chemicals Corp.

  • June 20, 2019

    9th Circ. Revives Trump's 'Gag Rule' On Abortion Referrals

    The Ninth Circuit on Thursday lifted a block to the Trump administration's "gag rule" barring federally funded health care providers from giving abortion referrals, holding that the U.S. Department of Health and Human Services was likely to prove the rule is valid.

  • June 20, 2019

    Crane Co. Can't Secure Coverage Of $3.8M Injury Suit Costs

    Maxim Crane Works LP cannot force a foundation subcontractor’s insurer to cover over $3.8 million it spent defending and settling a suit brought by a construction superintendent whose leg was amputated after being crushed in an accident, a Texas federal judge ruled Wednesday, finding that a state anti-indemnity statute forecloses coverage.

  • June 20, 2019

    CVS Denies Aetna Deal Reverses Efforts To Cut Drug Prices

    CVS has told a D.C. federal judge that the drugstore chain’s $69 billion megadeal with Aetna won’t interfere with its pharmacy benefit manager’s push to cut drug prices, despite what groups opposed to the merger contend.

  • June 20, 2019

    Retiree Benefits Committee OK'd In Sears Ch. 11

    A New York bankruptcy judge Thursday found an official committee will be needed to deal with a challenge to Sears Holding Corp.'s termination of life insurance policies for tens of thousands of retirees.

  • June 20, 2019

    Insurer Sues Tire Co. Over Ford Truck Rollover

    An insurer and the estate of a deceased construction worker say a Korean tire company is to blame for an accident in which a tire came off a Ford F-250, killing one worker and injuring two, according to a pair of suits filed in South Dakota federal court.

  • June 20, 2019

    State Farm, Others Beat Undervalued Cars Conspiracy Suit

    A Georgia federal judge on Thursday axed a driver’s proposed class action accusing State Farm and two other companies of conspiring with one another to undervalue his wrecked car, ruling that the driver had waited too long to litigate his case.

  • June 20, 2019

    Kaiser Beats Bid To Revive Eating Disorder Coverage Suit

    A federal judge refused to rethink handing Kaiser Foundation Health Plan Inc. a win in a proposed class action alleging it violated state and federal law when it refused to cover out-of-network residential treatment for a California man's eating disorder.

  • June 20, 2019

    Glancy Prongay To Lead Maiden Holdings Investor Suit

    National class action firm Glancy Prongay & Murray LLP will serve as lead counsel representing investors in a stock-drop suit against reinsurance company Maiden Holdings Ltd. over alleged misrepresentation of its underwriting and risk management practices, a New Jersey federal magistrate judge ordered Thursday.

  • June 19, 2019

    Insurance Cases To Watch In The Second Half Of 2019

    Courts around the country will have plenty of thorny insurance issues to chew on in the coming months, with Pennsylvania’s high court set to decide whether to reinstate a $21 million bad faith judgment against Nationwide and the Fifth Circuit primed to consider whether Chubb Ltd. is obligated to cover a $106 million judgment against its policyholder. Here, Law360 breaks down four key cases that insurance attorneys will be tracking in the second half of 2019.

  • June 19, 2019

    5th Circ. Breathes New Life Into Petrobras' Shoddy Chain Suit

    The Fifth Circuit on Tuesday revived Petrobras America’s suit against an offshore equipment maker over an allegedly defective chain used to support a floating oil and gas facility, saying the lower court departed from Louisiana precedent by nixing the $160 million claims.

  • June 19, 2019

    Drugged Driver Not Covered By Excess Policy, Ill. Panel Says

    An Illinois state appeals court ruled that an insurer doesn’t have to cover a rental car driver who killed a man while under the influence of drugs, reversing a lower court’s ruling that an intoxication exclusion from excess insurance policies is unenforceable as a matter of public policy.

  • June 19, 2019

    Chase Ducks Late Reinsurance Kickback Suit At 3rd Circ.

    JPMorgan Chase Bank NA has escaped a proposed class action alleging the company referred home buyers to mortgage insurers for kickbacks via reinsurance payments after the Third Circuit said Wednesday in a published opinion that borrowers filed their claims too late.

Expert Analysis

  • An Analytical Approach To Defending Securities Class Claims

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    A recent analysis indicates that 33 securities class action complaints filed in the last year contain at least one alleged stock price drop that does not surpass the standards of indirect price impact. Verifiable absence of indirect price impact can help directors and officers execute a successful defense to negate class treatment, says Nessim Mezrahi of SAR.

  • Financial Services Regulation For Fintech Companies: Part 2

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    In the second part of this series on regulatory challenges faced by fintech innovators, Nathan Greene and Justin Reda of Shearman & Sterling caution entrepreneurs in the financial space to be aware of when their products could be categorized as securities, and of the many regulatory obligations that can arise as a result.

  • 5 Ways Law Firms Can Improve Their Job Interviews

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    When evaluating potential new hires, law firms should utilize structured interviews in order to create a consistent rating system that accurately and effectively assesses candidates' skills and competencies, says Jennifer Henderson of Major Lindsey.

  • Financial Services Regulation For Fintech Companies: Part 1

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    Firms in the U.S. financial sector are surrounded by a virtual moat of complex regulations, mandatory disclosures and compliance infrastructure. Nathan Greene and Justin Reda of Shearman & Sterling offer an overview of the regulatory context — and some of the crocodiles lurking in that moat — for fintech entrepreneurs entering the sector.

  • Employer Options For White Collar Contractors After Dynamex

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    Though multiple worker classification questions still swirl around the California Supreme Court's Dynamex decision, many have wondered what it means for white collar independent contractors. The law is still murky on this point, but there are several steps that might help hiring companies rebut a misclassification claim, say Raymond Bertrand and James de Haan at Paul Hastings.

  • Insurers Must Prepare For 2 Possible Cyber Disasters

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    Due to the massive scale on which contagious malware and cloud vulnerabilities could cause damage, insurers must develop ways to quantify losses from cyberattacks, predict future losses and address aggregation risk, say directors at Ankura Consulting.

  • Opinion

    Calif. 'Surprise Billing' Law Could Jeopardize Access To Care

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    Currently pending legislation in California, aiming to prevent patients from receiving surprise bills from out-of-network hospitals, could jeopardize the financial viability of hospitals while benefiting insurance companies that are already very profitable, say Daron Tooch of King & Spalding and Chris Fritz and Michael Heil of HealthWorks.

  • Series

    Why I Became A Lawyer: A Fateful Phone Call

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    When I was growing up, my mother was always the more mild-mannered parent. But during a trans-Atlantic phone call in 1991, when I told her I wanted to go to culinary school instead of law school, she started yelling — at a volume I had never heard from her, says Jason Brookner of Gray Reed.

  • Insuring The Ever-Growing Cannabis Industry: Part 2

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    By legalizing hemp, the Farm Bill has legitimized a portion of the cannabis space, but it has also created fertile ground for new liability exposures, which create significant opportunities for insurers to enter the cannabis market, say Jodi Green and Patricia Daza-Luu of Nicolaides Fink.

  • Law Firms Can Do Better With Their Mentoring Programs

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    There are a few practical, proactive steps law firms can take to create a mentoring program that pays dividends — instead of creating a mediocre program that both parties see as an obligation, says Kate Sheikh of Major Lindsey & Africa.

  • The Latest Developments In Criminal Cases Against Execs

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    This spring, there was some noteworthy news in white collar government investigations impacting executives, including the first successful prosecution in the opioid bribery scheme and the first criminal charges for failure to report under the Consumer Product Safety Act, say attorneys at Miller & Chevalier.

  • 'Rocket Docket' Justifies Its Name For 11th Straight Year

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    The U.S. District Court for the Eastern District of Virginia “rocket docket” is still the fastest federal civil trial court in the country despite some recent trends causing its median time to trial to grow to 13.2 months, says Robert Tata of Hunton.

  • 5th Circ. Insights On Wrongful Conviction Insurance Coverage

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    In Travelers v. Mitchell, the Fifth Circuit recently grappled with issues concerning trigger of insurance coverage for wrongful convictions that will likely continue to be tested in courts nationwide, but its decision notably relied on a discussion of trigger that is not aligned with most courts, say Ben Eggert and Karen Toto of Wiley Rein.

  • When Experts Are Effective In Insurance Coverage Litigation

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    Jonathan Kuller and Ashlyn Capote of Goldberg Segalla analyze persuasive use of expert testimony in insurance coverage cases, employing one of their cases as an example.

  • Measuring The Value Of A Law Firm's Social Media Efforts

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    Most legal marketers struggle to show the return on investment of their social media efforts, but establishing and answering several key questions can help demonstrate exactly how social media programs contribute to a law firm's bottom line, say Guy Alvarez of Good2bSocial and communications consultant Tom Orewyler.