Within the next year, the Employee Benefits Security Administration hopes to make association retirement plans a reality, clarify what comes after the fiduciary rule and allow employers to stop covering workers’ birth control by claiming a moral or religious objection to its use.
The trustee of an Ohio freight company's employee stock ownership plan and his company agreed to a nearly $2.5 million judgment to settle the U.S. Department of Labor's claims they cost the plan $6 million through fiduciary breaches, according to filings in federal court.
Wachtell Lipton Rosen & Katz-led Invesco Ltd. will acquire Massachusetts Mutual Life Insurance Co.’s asset management unit OppenheimerFunds in a $5.7 billion deal that will see Simpson Thacher & Bartlett LLP-led MassMutual become the Atlanta-based investment firm’s largest shareholder, the companies said in a statement Thursday.
The Illinois Supreme Court on Thursday threw out a couple's complaint alleging a homeowners insurance agent is to blame for their policy not covering cyberbullying claims against their son, saying the action is time-barred because it was filed more than two years after the allegedly deficient policy was issued.
Hurricane Irma didn’t cause more than $1 million in damage to part of a Florida hotel, a subsidiary of insurance company MS Amlin said Wednesday, arguing that most of the issues existed long before the September 2017 storm or were the result of shoddy construction work.
A Massachusetts federal judge approved a class action settlement Thursday guaranteeing the annuities of 5,000 Aviva PLC customers at a value of up to $41 million, though he raised questions about the lead counsel's request for over $4 million in attorneys' fees.
Horizon Healthcare Services Inc. and CentraState Medical Center Inc. on Thursday announced that they have resolved CentraState's claims in a New Jersey state lawsuit alleging that the insurer's tiered health coverage plan left certain hospitals competitively disadvantaged, leaving only one hospital taking the company to trial next week.
A Michigan federal judge has denied Wausau Underwriters Insurance Co.'s bid to avoid paying an $8.7 million damage award against one of its policyholders, ruling there are issues of fact about whether the insurer acted in bad faith when the insured was sued over a car crash.
Blue Cross Blue Shield insurers facing long-running multidistrict litigation over an alleged conspiracy to divvy up the market are protected by prior settlement agreements that free them from the claims, even though they never signed the deals, an Alabama federal judge ruled Wednesday.
A Texas federal judge on Tuesday held that marine surveyor American Global Maritime Inc. must face negligence claims asserted by insurance underwriters seeking to hold it liable for $500 million in losses from the failure of an offshore oil rig built for Chevron, while tossing other claims against the surveyor and dismissing its foreign affiliates from the suit.
A proposed class of American workers who received psychotherapy through their employers’ health care plans sued United Healthcare Insurance Co. and United Behavioral Health in California federal court Tuesday, accusing them of flouting the Employee Retirement Income Security Act by imposing unfair reimbursement limits on psychotherapy services.
A small California law firm is facing allegations that it tricked a property owner into settling a lawsuit over construction defects for less than it was worth, potentially costing the landowner more than $10 million.
After an emotionally fraught confirmation process with sexual misconduct allegations front and center, a new justice joins the Supreme Court bench and brings four female clerks with him. The hires bring gender parity to the court's clerkship ranks for the first time, but will the shift be long-lasting?
Lloyd's of London underwriters and the International Insurance Co. of Hannover SE have told a Texas federal court that the owner of a condominium complex must arbitrate its $1 million dispute over a denied insurance claim following a serious storm that hit the Houston area in the spring of 2017.
A trustee for creditors of ATIF Inc. filed suit Tuesday in Florida bankruptcy court alleging the bankrupt title insurance underwriter’s 2015 transfer of assets worth millions of dollars to Old Republic National Title Insurance Co. was a fraudulent attempt to avoid paying creditors.
The Seventh Circuit on Wednesday said there’s “ample evidence” to support a jury’s finding that a Chicago dermatologist committed fraud by passing off cosmetic procedures as pre-cancer treatment to insurance companies.
A Pittsburgh drug and alcohol rehabilitation center sued UPMC Health Plan in a Pennsylvania state court Wednesday after the insurance arm of the hospital system tried to make the center repay money it was allegedly overcharged by a third-party drug testing service then complained to the Pennsylvania Attorney General's Office that the rehab was committing insurance fraud.
The Financial Stability Oversight Council said Wednesday that it has decided to rescind insurer Prudential Financial Inc.’s designation as a systemically important financial institution, freeing it from enhanced regulatory supervision and leaving no nonbank financial firms classified as “too big to fail.”
Lieff Cabraser Heimann & Bernstein LLP, Clifford Law Offices PC and several other firms have asked for $90 million in fees and expenses for their work representing a class of State Farm customers who settled claims the insurance giant rigged an Illinois judicial election for $250 million.
A New Jersey bankruptcy judge on Tuesday firmly overruled objections to the appointment of a future claimants representative in the Chapter 11 case for Duro Dyne National Corp., calling challenges by the U.S. Trustee's office and insurers over disinterestedness "nonsensical" and a "nonstarter."
A Florida state appeals court's decision last month in Restoration 1 v. Ark Royal weakens assignment-of-benefit claims, holding that an insurer may require all insureds and mortgagees to provide written consent prior to executing an assignment-of-benefits agreement, says Margo Meta of Ball Janik LLP.
In an era when law firms are fighting for business and clients can dictate the terms of the relationship, "value" has become a moving target. Firms that take a proactive approach by using strategies designed to articulate value over time will gain the competitive advantage, says Dan Tacone at Intapp Inc.
In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Pier D'Angelo, chief pricing and practice officer at Allens.
The Sixth Circuit's recent decision in KVG v. Westfield underscores that all insureds should take care to avoid admissions that may be used against them in subsequent litigation over coverage for their losses, say David Kroeger and Edward Vrtis of Jenner & Block LLP.
In the two years since the American Bar Association's controversial anti-discrimination and harassment rule, only one state has adopted it, while numerous state supreme courts, state attorneys general and legal groups have correctly rejected Model Rule 8.4(g) as a threat to lawyers' First Amendment rights, says Bradley Abramson, an attorney with Alliance Defending Freedom.
In the aftermath of Justice Brett Kavanaugh's confirmation, the U.S. Supreme Court should decline review of the nation's most polarizing political questions unless and until the questions become time-sensitive, says Alexander Klein, head of the commercial litigation group at Barket Epstein Kearon Aldea & LoTurco LLP.
In this series featuring law school luminaries, Boston College Law School professor Kent Greenfield reflects on his corporate law theories, his legal battle with the Pentagon over free speech and gay rights, and important constitutional law issues to watch out for.
Whether Justice Brett Kavanaugh’s prior statements may be grounds for disqualification when it comes to judging certain cases is debatable, but there are no specific recusal guidelines for the U.S. Supreme Court. The justices themselves don’t even agree on where to draw the line when it comes to perceived political bias, says Donald Scarinci, a founding partner of Scarinci Hollenbeck LLC.
As technology evolves, law firms are increasingly looking for ways to improve communication, transparency and service for their clients. Firms should put knowledge management at the core of their value proposition to create a competitive advantage, says Rob MacAdam at HighQ.
The Texas Supreme Court has made clear that a party seeking to avoid appraisal in an insurance dispute has a high burden to establish waiver. Two decisions in the last couple months highlight key points underlying a court’s analysis in determining waiver, say Kristin Cummings and Victoria Vish of Zelle LLP.