A subsidiary of New York Life Insurance Co. has provided $75 million in financing to a joint venture of Fisher Brothers and Sungate Park Avenue Trust for an office property in Manhattan, according to an announcement from New York Life on Friday.
A D.C. federal judge on Friday rejected the federal government’s view of when Medicare Advantage insurers have been overpaid, vindicating a UnitedHealth Group Inc. effort to boost industry profits and reduce potential False Claims Act liability.
A California federal judge refused to grant multiple insurers a win Wednesday in a suit over coverage for underlying litigation against a commercial farm that killed off bee colonies it had used for pollination, saying there were factual disputes that make the applicability of two exclusions an open question.
Lloyd’s of London underwriters asked a New York court on Thursday to rule that they have no obligation to pay Carlyle Group affiliates’ claim for nearly $400 million in crude oil they lost when a Moroccan oil refinery known as SAMIR was seized in 2015, asserting that Carlyle’s failure to provide timely notice of the losses forecloses coverage.
A Virgin Islands property owner has sued Lloyd’s of London underwriters and another insurance carrier, claiming the insurers first ignored its damage claims after Hurricane Irma struck the islands, then failed to properly inspect and assess damages when they did send adjusters after Hurricane Maria.
Hartford Casualty Insurance Co. told a Missouri appeals court Thursday that it owes no coverage for a $1.2 million trial win in favor of nursing students who claimed they paid $25,000 each for a degree program and didn't receive a degree, saying at an oral argument the students' claims don't count as “property damage” under the policy.
A Cincinnati Insurance Co. unit doesn’t have to cover NuWave LLC’s costs to defend the state of West Virginia’s lawsuit alleging the cookware company engaged in deceptive and coercive marketing tactics, an Illinois federal judge ruled Wednesday, finding that the underlying action doesn’t allege any potentially covered claims for privacy violations.
A Massachusetts federal judge said Wednesday the bankruptcy trustee for F-Squared Investments Inc. can't claim a $7.7 million insurance payout for the legal fees it spent during the investigation that helped bring it down, saying the probe started before the policies kicked in.
The Fifth Circuit has declined to apply a special Texas rule extending the deadline for filing legal malpractice claims to a homeowner’s suit, which alleged a public insurance adjuster botched her claim for coverage for Hurricane Ike damage, saying the rule does not apply to insurance adjusters.
In a decision that lawyers say could have a significant impact on long-standing insurance practices in Florida, a state appeals court Wednesday ruled that homeowners' insurance policies may require signatures of all insureds and mortgagees to validate an assignment of claim benefits to a third party.
A California federal judge allowed most claims to proceed in a whistleblower's lawsuit accusing Rite Aid of knowingly submitting false prescription reimbursement claims to the state, finding Wednesday that California has sufficiently pled that the pharmacy giant failed to oversee employees tasked with keeping those records.
The Employee Retirement Income Security Act doesn’t preclude a proposed class of psychotherapists from alleging in state court that a health insurance company’s screening criteria for mental health care coverage flouted Washington law, the Ninth Circuit ruled Tuesday while reversing a lower court’s ruling.
Ice Miller LLP announced Thursday it has added a former Robinson Brog Leinwand Greene Genovese & Gluck PC partner to its litigation group in New York City.
A Texas federal judge said Wednesday that he'll soon issue a ruling on whether the Affordable Care Act will sink or swim, after a hearing in which 20 Republican-led states argued the ACA's individual mandate doesn't pass constitutional muster and the entire law should be struck down.
Solera Holdings Inc. has sued its directors and officers insurance carriers in Delaware state court, saying the insurers have wrongfully refused to help cover either the $13 million the company spent defending stockholders’ challenge to its $6.5 billion buyout by Vista Equity Partners LP or the $38 million in interest it was ordered to pay following a judge’s appraisal ruling.
A Texas federal magistrate judge stopped short of recommending that a suit saying UnitedHealthcare Insurance Co. owes labs millions of dollars for testing be thrown out, but said the labs haven’t shown they have standing to bring Employee Retirement Income Security Act claims.
The federal government owes a nonprofit health insurance cooperative $5.3 million in Affordable Care Act cost-sharing reduction payments, the Court of Federal Claims has ruled, finding that the payments are mandatory under the ACA despite Congress failing to appropriate specific funding.
Katten Muchin Rosenman LLP represented an entity affiliated with AIG Investments in connection with its $275 million loan to JEMB Realty for a Broadway residential building in Manhattan, according to records made public in New York on Wednesday.
USI Southwest Inc. has filed a lawsuit in Texas state court in Houston against two of the insurance brokerage and consulting company's former vice presidents, alleging that in violation of employment agreements they signed, the two have gone to work for a direct competitor and could be planning to take valuable customers with them.
The ex-wife of late New England Patriots Pro Bowler Mosi Tatupu faced a blitz of skepticism from the First Circuit on Wednesday in her bid to flip the National Football League’s denial of her claim of survivor benefits.
If Jobs Act 3.0 is signed into law, it will reflect the GOP’s pivot away from the wholesale repeal of Dodd-Frank and its embrace of a piecemeal strategy to chip away at the 2010 law. Though capital formation is the headliner of Jobs Act 3.0, this bill does contain a few Dodd-Frank reform measures that have been overlooked in most news coverage but are worth highlighting, says Lai King Lam of McGuireWoods Consulting LLC.
Recent cases like Miami-Luken v. Navigators emphasize that losses must be accidental and fortuitous to be covered by insurance. Since most opioid lawsuits allege that defendants knowingly caused harm, companion insurance coverage suits will continue to raise issues such as prior knowledge and known loss, say Monica Sullivan and Jodi Green of Nicolaides Fink Thorpe Michaelides Sullivan LLP.
One of us was a clerk when Justice Ruth Bader Ginsburg read her Ledbetter dissent from the bench, inviting Congress to act, and the other clerked a few years later, when RBG's prominently displayed copy of the Lilly Ledbetter Fair Pay Act served as a daily reminder that dissents are not just for show, say Arun Subramanian and Mark Musico of Susman Godfrey LLP.
Although some employment practices liability and directors and officers liability insurers might not acknowledge it readily, California employers may be entitled to broad coverage for Private Attorneys General Act lawsuits — including a defense and indemnity for PAGA settlements and judgments, says Shaun Crosner of Pasich LLP.
As clerks for Justice Ruth Bader Ginsburg, we learned early on that, when preparing a memorandum or draft opinion, it was essential to present any opposing argument in its strongest possible light. There is a lesson here for today's public debates, says Trevor Morrison, dean of NYU Law School.
In cryptocurrency insurance, volatility disproportionately affects every stage of an insurance policy's life cycle from underwriting to adjustment of losses. This creates real challenges — especially when it comes to valuing losses, say Thomas Caswell and Dennis Anderson of Zelle LLP.
I clerked for Justice Ruth Bader Ginsburg before the days of RBG bobbleheads and “You Can’t Spell Truth Without Ruth” T-shirts. I had no idea I would become a judge, and I feel lucky every day that I had the chance to learn from her, says California Supreme Court Justice Goodwin Liu.
A lot has changed since I clerked for Justice Ruth Bader Ginsburg 20 years ago. At that time, I had hair and no wife. I also thought I knew everything — but working for the justice made me realize very quickly that I actually knew very little, says Ninth Circuit Judge John Owens.
In 1993, Ruth Bader Ginsburg was confirmed to the U.S. Supreme Court, and I began my two-year clerkship with her. In her first opinion as a justice, and in dozens since, Justice Ginsburg reminded us how the law needs to operate if equality is to be a reality, says Margo Schlanger, a professor at the University of Michigan Law School.
Since the GOP’s failed attempt to repeal the Affordable Care Act last year and the elimination of the individual mandate in the Tax Cuts and Jobs Act, Republicans and Democrats have struggled to address problems in the health care system. Although bills recently passed by the House contain a few provisions with bipartisan support, they face an uphill battle for passage in the Senate, says Radha Mohan at Brownstein Hyatt Farber Schreck LLP.