A New York judge has rejected an excess directors and officers liability insurer’s bid to avoid responsibility for up to $5 million in expenses incurred by executives at Platinum Partners who face criminal charges over an alleged $1 billion “Ponzi-like” scheme at the hedge fund, holding that the insurer cannot invoke a policy exclusion to deny coverage.
An AIG unit alleged in New York state court on Wednesday that the owner of an apartment unit and the construction company tasked with renovating it owe the insurer $2.4 million for a claim it paid out after a broken sprinkler head caused water to pour into a neighboring unit owned by a policyholder.
Classes on blockchain and artificial intelligence. Crash courses in business and financial markets. These are a few ways law schools are preparing students for a job market that is struggling in the wake of the recession.
The Third Circuit on Wednesday endorsed a lower court's harsh denial of a $947,000 fee request following an insurance coverage trial, and instituted a formal policy that judges can deny awards of even reasonable fees if they come alongside “staggering” and “astonishing” unsupported fees like the ones on display in the case.
Ruling on an issue of first impression under state law, Massachusetts’ high court held Wednesday that two insurers must cover Vibram USA Inc.’s defense of a suit accusing it of unlawfully obtaining a trademark for a shoe named after the late Olympic marathon champion Abebe Bikila, saying the underlying action alleged a potentially covered advertising injury.
A D.C. magistrate judge said Tuesday that Unum Life's retraction of a former Dickstein Shapiro LLP attorney's long-term disability benefits was appropriate and recommended the suit be dismissed.
Xavian Insurance Company hit Boeing and its subsidiary Boeing Capital Corp. with a trade secrets lawsuit in Illinois federal court on Tuesday, accusing them of copying plans for an insurance-backed guarantee on financing for the purchase of commercial aircraft and launching their own.
A Houston-area medical center has asked a Texas federal judge to end Aetna’s claims in a suit accusing the insurer of underpaying on thousands of medical claims submitted under the Employee Retirement Income Security Act, arguing two court rulings in favor of the medical center point toward dismissal.
A Colorado schoolteacher doesn’t have standing to challenge Trump administration rules that exempt employers with moral or religious objections from providing birth control coverage under the Affordable Care Act since she didn’t demonstrate she was likely to be affected by them, a Colorado federal judge has ruled.
A lower appellate court's ruling that used the attorney-client privilege to shield from discovery documents reviewed by an expert witness cannot stand or it will not only eviscerate the rules of discovery, but result in impermissible collusion between attorneys and experts, the Texas Supreme Court heard in oral arguments Wednesday.
The First Circuit prodded BioChemics Inc. on what it felt was an inconsistent argument Wednesday as the pharmaceutical company tried to flip a district court order denying coverage by Axis Reinsurance Co. for defending against a U.S. Securities and Exchange Commission investigation and enforcement action.
The Carlyle Group, with help from Wachtell Lipton Rosen & Katz, has agreed to buy Simpson Thacher & Bartlett LLP-advised Sedgwick Claims Management Services Inc., which provides technology-enabled insurance claim management services to consumers and businesses, in a deal valued at roughly $6.7 billion, the companies said Wednesday.
Europe’s top insurance regulator could be permitted to investigate companies undercover and record conversations in a sweeping expansion of its powers, under new legislative proposals before the European Parliament.
Caught in a whirlwind of firm dissolutions and layoffs, thousands of associates were thrust into one of the worst job markets in history a decade ago. While some have rebounded, others are still feeling the lingering effects of the financial crisis on their careers.
An Anthem Inc. subsidiary must face allegations that it breached its fiduciary duties under the Employee Retirement Income Security Act with an exclusion for so-called wilderness therapy treatment, a New York federal judge ruled Tuesday, though the judge tossed the claims seeking to recover benefits from the insurer.
A West Virginia federal judge on Tuesday declined to dismiss an insurer’s suit seeking a judgment that it does not have to indemnify a university and a former women’s basketball coach sued in state court after the coach took photographs of players without their consent, finding it had jurisdiction over the case.
An Oklahoma federal judge on Tuesday refused to let Federal Insurance Co. dodge a duty to cover a boiler maker in an underlying state court suit over its performance on a contract to build a water treatment system for the city of Altus, Oklahoma, saying conflicting evidence precludes a quick win.
The ERISA Industry Committee, an organization that represents large benefits plan sponsors, has urged lawmakers to pass a bill that will delay until 2023 the so-called "Cadillac tax," which imposes a 40 percent excise tax on high-cost, employer-sponsored health plans.
Akerman LLP said Tuesday it has added a former special counsel to the U.S. attorney as a partner in its fraud and recovery practice group in Fort Lauderdale.
The Third Circuit has ruled that title insurers aren’t necessarily duty-bound to defend all claims that arise in a lawsuit targeting a policyholder, issuing a precedential decision in favor of Stewart Title Guaranty Co. in a mortgage company’s suit stemming from a defaulted loan.
The June IRS publication of a revenue ruling addressing the timing of federal income tax withholding and reporting treatment for funds escheated from traditional IRAs was timely. As a matter of substance, or of tax and unclaimed property administration, however, the ruling is already proving problematic, say attorneys at Eversheds Sutherland LLP.
While most law firm executives and partners may instinctively want to tune out terms like "high availability" and "disaster recovery" — concepts that IT managers usually worry about — there are five reasons you should lean in and wrestle with the vocabulary, say Jeff Norris of Managed Technology Services LLC and Greg Inge of information security consulting firm CQR.
Throughout a mediation, there are times of heightened uncertainty when something might happen to swing the leverage in one side’s favor. These windows of opportunity can be maximized by a number of methods other than in-person mediation sessions and formal exchanges of settlement numbers, say Robert Fairbank and Kimberly West of Fairbank ADR.
Recent cases demonstrate Louisiana courts' willingness to embrace the Fifth Circuit's simplified analysis of what constitutes a maritime contract in the context of insurance obligations. The courts are homing in on whether parties expected to use a vessel, and how significant the use is, says Hansford Wogan of Jones Walker LLP.
The "fake news" phenomenon is ever more prominent in the political arena — but not in the jury box. At a trial, jurors don’t have to rely on the media or any other source to tell them the facts and issues, since they have a front-row seat to the action, says Ross Laguzza, a consultant at R&D Strategic Solutions LLC.
For some plan sponsors, the prospect of engaging in a pension risk transfer may seem cost-prohibitive. However, the cost of transferring risk is lower than what many sponsors perceive, says Elliott Dinkin of Cowden Associates Inc.
In his new book, "The Last Great Colonial Lawyer: The Life and Legacy of Jeremiah Gridley," Charles McKirdy argues that Gridley — someone I had never heard of — was the last great colonial lawyer, and that his cases illuminate his times. The author largely substantiates both claims, says First Circuit Judge Kermit Lipez.
The newly enacted Foreign Investment Risk Review Modernization Act significantly expands the authority of the U.S. government to review and restrict foreign investments on national security grounds. But FIRRMA also has provisions that may exempt some transactions from review, and accelerate review of others, say Jeffrey Bialos and Mark Herlach of Eversheds Sutherland LLP.
The Foreign Investment Risk Review Modernization Act empowers the U.S. government to review a far broader group of transactions than ever before to determine if they threaten national security. FIRRMA's expansive new coverage includes oversight of real estate investments and transfers of "emerging and foundational technologies," say Jeffrey Bialos and Mark Herlach of Eversheds Sutherland LLP.
The past two years have seen insurance coverage lawyers coming to terms with the impact of two landscape-changing decisions from New York's highest court, Viking Pump and Keyspan. Together, these cases make clear that under New York law, the allocation approach that will apply to long tail claims is governed by the presence of certain policy language, say Cort Malone and Vivian Michael of Anderson Kill PC.