Pacific West Capital Group Inc. agreed Monday to pay the U.S. Securities and Exchange Commission disgorgement of $57.4 million and $6.3 million in prejudgment interest to end claims in California federal court that it defrauded investors in the sale of fractionalized interests in universal life insurance policies.
Lathrop Gage LLP expanded its Los Angeles office with the addition of Scheidemantle Law Group PC's team of four attorneys, who bring with them expertise in insurance recovery and product liability litigation, the firm said on Monday.
A Pennsylvania appellate court said Friday it will take a second look at the arguments for and against its decision to overturn a $21 million punitive damages award against Nationwide Mutual Insurance Co. in a 20-year dispute over an auto insurance claim.
A Massachusetts college that is a defendant in a New Jersey state court case in which the family of a football player who died of cardiac arrest after practice is claiming wrongful death has filed for removal of the case to federal court.
The U.S. Supreme Court won’t take up a case challenging the constitutionality of a 2013 amendment to the state of New York’s Workers’ Compensation Law that shifted the liability for certain reopened cases from a statewide fund to insurance carriers, according to the order list distributed Monday.
Baker Donelson Bearman Caldwell & Berkowitz PC shouldn’t be allowed to represent a Blue Cross Blue Shield unit in an antitrust suit brought by United Allergy Services, as the firm also represented UAS in related proceedings and still has access to its confidential information, the allergy testing company told a Louisiana federal court Friday.
A North Carolina engineering firm has told the Fourth Circuit that its insurance coverage shouldn't have stopped at $3 million for two pedestrian bridge collapses at a college in 2014, arguing they were unrelated claims subject to the policy’s $5 million aggregate limit.
Toronto-based private equity firm Onex Corp. on Monday said it has made a $175 million equity investment in Chicago-based specialty insurance organization Ryan Specialty Group.
Venture-backed data analytics startup Domo Inc., a so-called technology unicorn, was among six companies that filed initial public offerings on Friday, bolstering a growing lineup of deals that could price before July 4.
The last week has seen CIS Insurance lodge another claim against IBM, a dispute emerge between a bankrupt mini-bond scheme and its security trustee, and Chubb sue Harvey Weinstein amid a fight over who should pay the cost of defending the movie producer against sexual harassment claims. Here, Law360 looks at those and other new claims in the U.K.
A Christian charity is suing its insurer in Georgia federal court for refusing to defend it from a suit filed by the California Department of Justice, which claims the charity misled donors about how efficiently it uses their dollars to provide aid by inflating the price of donated pharmaceuticals.
The Texas Supreme Court agreed Friday to review a lower court’s holding that Anadarko Petroleum Corp. is not entitled to coverage by Lloyd’s of London underwriters for any of the over $100 million it has spent defending against claims stemming from the 2010 Deepwater Horizon explosion and oil spill.
The Iowa Supreme Court on Friday sent the question of how much Depositors Insurance Co. owes on a $1.5 million hail damage claim back for retrial, finding that while an appraisal panel can rule on both causation and damages, the case also involves policy interpretation.
The co-chair of Katten Muchin Rosenman LLP’s national securities litigation and enforcement practice, who has previously freed Costco from an $18 million wrongful death suit and nabbed a $238 million verdict against Lennar Corp. in a real estate dispute, has left for Cooley LLP, Cooley announced this week.
Stroock & Stroock & Lavan LLP has picked up Baker McKenzie's North American insurance practice head for its New York office, Stroock announced Friday.
A New Jersey federal judge sided with a former Washington Post science reporter with chronic fatigue syndrome Thursday in his Employee Retirement Income Security Act suit against Prudential Insurance Company of America, which had dropped his short-term disability benefits and denied his bid for long-term ones.
New Jersey Gov. Phil Murphy on Friday signed into law a Democrat-backed measure to ease the burden of health care costs by, among other things, requiring health care providers and insurers to provide consumers advance notice when a provider is out-of-network.
Anthem Inc. and Express Scripts Inc. told the Second Circuit on Wednesday that a New York federal judge correctly ruled the companies didn’t act as fiduciaries when setting drug prices, so they couldn’t have breached their fiduciary duties under the Employee Retirement Income Security Act by allegedly overpricing medication.
A man who helped run two medical clinics in Brooklyn, New York, was sentenced to three years in prison Thursday by a Manhattan federal judge for bilking Medicare and Medicaid out of $1.4 million by giving unnecessary care to patients and paying them kickbacks.
National Liability and Fire Insurance Co. can't use an "other insurance" clause in a personal injury policy to shift responsibility for a yacht accident off to fellow insurer State Farm, the Fourth Circuit ruled Thursday, finding the clause void under a Virginia statute.
Under Texas law, as reinforced by recent court decisions, the insured bears the burden of establishing that property damage actually occurs on the reported date of loss. Insureds and insurers can use a variety of tools to determine and prove when hail or wind damage occurred, say Todd Tippett and Walter Cardwell of Zelle LLP.
One of the biggest drivers of change in the telehealth industry is the Creating High-Quality Results and Outcomes Necessary to Improve Chronic Care Act, which was part of the recently passed Bipartisan Budget Act. The improvements included in the legislation are just the latest efforts signed into law to modernize telehealth nationwide, says Miranda Franco of Holland & Knight LLP.
Out of 94 district courts nationwide, the Eastern District of Virginia has the fastest civil trial docket in the country, now for at least the 10th straight year. The modern EDVA bench clearly takes pride in efficiently dispensing justice, and this dedication to efficiency has continued even in the face of increased filings, says Bob Tata of Hunton Andrews Kurth LLP.
Sometimes words with multiple definitions can cause interpretive problems for an insurance policy. One solution is the define-by-association approach, which was used in Kostin v. Pacific recently to determine whether a bankruptcy trustee's action to avoid a transfer of funds can qualify as a claim for personal injury, says Robert Helfand of Pullman & Comley LLC.
This month, the Ninth Circuit affirmed in Aqua Star v. Travelers that insurance coverage for business email compromise schemes was precluded by an exclusion. Companies should inquire specifically about coverage for such schemes, and insurers should consider establishing sublimits to provide clarity to insureds, say J. Robert MacAneney and John Pitblado of Carlton Fields Jorden Burt PA.
The Delaware Superior Court's decision in Arch Insurance Co. v. David Murdock underscores the importance of the choice of law analysis in insurance coverage disputes and reaffirms a distinction previously recognized, but not always applied, between D&O and general liability policies, say Jennifer Wasson and Carla Jones of Potter Anderson & Corroon LLP.
An Alabama federal court recently ruled that it is per se anti-competitive for the Blue Cross and Blue Shield Association to grant licenses to member plans to use trademarks in exclusive geographic markets. If upheld, this decision represents a significant threat to the fundamental structure of the association, says Robert Craig of Taft Stettinius & Hollister LLP.
Because Texas floodplain maps have recently been demonstrated to be unreliable, insurers should not rely exclusively upon these designations in underwriting risks. Instead, insurers should reassess the risk for flooding in areas known to have heavy rainfall records, heavy development, aged infrastructure systems and unexpected flood losses, says Shannon O'Malley of Zelle LLP.
Investors who acquire in-force life insurance policies in the secondary trading market and life insurers paying death benefits for secondary life insurance market policies must understand the Tax Cuts and Jobs Act's new Internal Revenue Service informational reporting requirements, say attorneys with Locke Lord LLP.
It's been eight years since the U.S. Supreme Court’s ruling in Shady Grove Orthopedic Associates v. Allstate Insurance, but courts continue to wrestle with whether state statutory class action bars are enforceable in federal court, say Daniel Fong and Robert Guite of Sheppard Mullin Richter & Hampton LLP.