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Insurance

  • October 11, 2018

    Pa. Atty Wants Insurer's 'Extortion' Claim Thrown Out

    A Pennsylvania attorney is urging the Philadelphia County Court of Common Pleas to throw out a case accusing him of pursuing a frivolous lawsuit against his client’s insurance provider, pointing to another judge’s recent statement that the underlying insurance case had merit.

  • October 11, 2018

    Chiropractor, Insurer End Row Over Injections Coverage

    An insurer and a chiropractor policyholder who allegedly mishandled injections have mutually ended their coverage suit, according to documents filed in New Mexico federal court on Wednesday.

  • October 11, 2018

    Grassley Seeks FTC Probe Of Hospital, Insurer Contracts

    The Federal Trade Commission should immediately look into allegations that hospitals are driving up health care costs by nailing down anti-competitive, high-price contracts with insurers, Senate Judiciary Chairman Chuck Grassley, R-Iowa, told the agency Wednesday.

  • October 11, 2018

    4 Important Insurance Decisions You May Have Missed

    Courts around the country have issued a number of important decisions over the past few months, including an Ohio court’s first-of-its-kind finding that lost bitcoin is covered property under a homeowner’s policy and the Sixth Circuit’s ruling that a bank’s insufficient notice to its insurers defeated its claim for $75 million in False Claims Act coverage. Here, Law360 looks at four key insurance rulings you may have missed.

  • October 11, 2018

    Apollo Global Affiliates Commit $700M To Catalina Holdings

    Catalina Holdings (Bermuda) Ltd., which acquires and manages non-life insurance and reinsurance companies, on Thursday said Apollo Global Management affiliates have become majority shareholders in the company and have committed $700 million in new equity capital.

  • October 11, 2018

    AIG Unit Owes $24M For TVA Plant Work, Subcontractor Says

    A boiler and mechanical subcontractor involved in a project sanctioned by the Tennessee Valley Authority launched a lawsuit in Tennessee federal court Wednesday, claiming a general contractor’s failure to pay under the contract puts an AIG unit on the hook for $24 million.

  • October 11, 2018

    Blue Cross Insurer, LabCorp Beat STD-Testing Antitrust Suit

    A Pennsylvania federal judge has dismissed an antitrust suit brought by a lab testing company that alleged Independence Blue Cross and LabCorp worked together to eliminate competition for testing of sexually transmitted diseases in the state, saying that a contractual obligation is not an antitrust violation.

  • October 10, 2018

    Grant & Eisenhofer, Labaton Tapped To Lead AmTrust Cases

    A Delaware Chancery Court judge decided Wednesday that a cooperative leadership structure would be the best route forward in consolidating two shareholder complaints over a take-private transaction involving insurance service firm AmTrust Financial Services Inc., naming Grant & Eisenhofer PA and Labaton Sucharow LLP as co-lead counsel.

  • October 10, 2018

    Trump Approves Prohibition On Pharmacy 'Gag Clauses'

    President Donald Trump has put his signature on a pair of bills designed to ban the practice of hiding lower prescription drug costs from patients, the federal government said Wednesday.

  • October 10, 2018

    Senate Dems Fail To Derail Short-Term Health Insurance Plans

    Senate Democrats failed to topple President Donald Trump’s rules allowing short-term health insurance they’ve termed “junk” plans, after a floor vote Wednesday fell one vote shy of passage.

  • October 10, 2018

    Real Estate Rumors: Alexandria, Atlantic Pacific, Fidelity

    Real estate investment trust Alexandria Real Estate Equities has reportedly paid $75 million for a Long Island City property, Atlantic Pacific Communities is said to have bought part of a Florida apartment complex that's worth $22.59 million, and Fidelity National Title Insurance has reportedly renewed its roughly 27,000-square-foot New York lease.

  • October 10, 2018

    Day Pitney, Morrison Cohen Steer $85M NYC Loan

    Day Pitney LLP represented Massachusetts Mutual Life Insurance Co. in connection with its $85 million loan for an office building in Manhattan to a borrower group that had counsel from Morrison Cohen LLP, according to records made public in New York on Wednesday.

  • October 10, 2018

    AbbVie Faces 2nd Investor Suit Over Humira Kickbacks

    AbbVie Inc. was hit with another proposed class action over its allegedly illegal strategy to market its blockbuster drug Humira, this one filed Tuesday by shareholders in Illinois federal court who say the company's misleading statements caused them huge losses.

  • October 10, 2018

    CVS To Sell Medicare Plan To Win $69B Aetna Deal Clearance

    The U.S. Department of Justice said Wednesday that it has cleared CVS Health Corp.’s planned $69 billion deal for health insurer Aetna Inc. after the companies agreed to sell off a Medicare prescription drug plan business to WellCare.

  • October 9, 2018

    Insurer Must Pay $1.2M In Tainted Milk Row, 2nd Circ. Told

    Harleysville Worcester Insurance Co. on Tuesday urged the Second Circuit to uphold a ruling that it is entitled to reimbursement from Wesco Insurance Co. for nearly $1.2 million Harleysville shelled out defending and settling two suits accusing a trucking company of delivering contaminated milk to a dairy plant, saying that Wesco forfeited its primary arguments.

  • October 9, 2018

    Sports Medicine Doctors Get Wider Protection Under New Law

    President Donald Trump has signed into law the Sports Medicine Licensure Clarity Act, which expands protections for sports medicine doctors and trainers when traveling with teams outside the states where they are licensed and insured.

  • October 9, 2018

    Allstate Says Performance, Not Fraud, Caused Stock Drop

    Allstate Corp. has asked an Illinois federal judge to deny class certification to investors accusing the insurer of concealing loose underwriting in a bid to boost business, arguing that any subsequent dips in Allstate's stock were due to company performance, not fraud.

  • October 9, 2018

    Ohio Justices Say Bad Subcontractor Work Not An 'Accident'

    Ohio’s high court ruled Tuesday that damage from a subcontractor’s faulty work isn’t an accident triggering an insurer’s defense obligation, spurning a nationwide trend favoring coverage for such claims and reinstating a lower court’s decision that a builder isn’t covered for litigation over alleged construction defects at a hotel on Ohio Northern University’s campus.

  • October 9, 2018

    Lloyd's Promises To Pay 'All Valid Claims' After Brexit

    Lloyd’s of London pledged on Tuesday to pay "all valid claims" after March 2019 even if Britain crashes out of the European Union without a deal and the cross-border insurance industry faces a legal vacuum.

  • October 9, 2018

    CORRECTED: Ex-Exec Of Modi Jewelry Co. Seeks Access To D&O Coverage

    The ex-president of a company owned by billionaire jeweler Nirav Modi on Thursday asked a New York bankruptcy court for an order allowing one of his company’s directors and officers insurance to pay for his legal defense, saying the policy proceeds are not estate property. Correction: A previous version of this story incorrectly identified the individual filing the motion. The error has been corrected.

Expert Analysis

  • UK Product Liability Law In The Autonomous Vehicle Era

    Sarah Batley

    The United Kingdom is positioning itself as the go-to location to develop, test and drive automated vehicles, and has already enacted legislation to provide an insurance model for AVs. But it is not yet clear whether existing U.K. product liability law will be able to accommodate the challenges posed by this new technology, say attorneys with Jones Day.

  • Why Law Firms Should Monitor The Dark Web

    Anju Chopra

    Dark web monitoring allows law firms to see what sensitive information may have made its way onto the thriving global underground marketplace where cybercriminals buy and sell exposed data. It can also help lawyers advise clients on a wide range of legal and business matters, say Anju Chopra and Brian Lapidus of Kroll.

  • Does Rule 45 Protect Nonparties From Undue Burden?

    Matthew Hamilton

    Interpretations of Rule 45 protections vary but what's clear is that "undue burden" does not mean no burden at all. To avoid the costs of compliance with a subpoena, a nonparty should be ready to demonstrate its disinterest in the litigation and the anticipated cost and burden of compliance, say attorneys at Pepper Hamilton LLP.

  • NY Tax Minutes: September

    Timothy Noonan

    In the latest installment of their monthly column, Timothy Noonan and K. Craig Reilly of Hodgson Russ LLP revisit the ongoing battle over the SALT deduction cap, note the importance of taxpayer testimony in domicile cases, address nonaudit-related legal challenges facing taxpayers and review New York City’s better-late-than-never guidance on repatriated income.

  • 6th Circ. Encourages Insureds To Be Open With Insurers

    Matthew Beato

    The Sixth Circuit's recent decision in First Horizon v. Houston reinforces the importance of providing timely and complete notice to insurance carriers, and will discourage insureds from disguising crucial facts about claims, says Matthew Beato of Wiley Rein LLP.

  • The Ins And Outs Of ERISA Fiduciary Insurance

    Excerpt from Lexis Practice Advisor
    José Jara

    Fiduciary liability insurance is an important but often overlooked aspect of a company’s risk management plan. José Jara of CKR Law reviews how it can be used to protect fiduciaries when governing or providing services for employee benefit plans subject to the Employee Retirement Income Security Act.

  • Defining Qualified Business Income In Life Settlement Industry

    Brian Casey

    In August, the IRS proposed regulations for the new Internal Revenue Code Section 199A, which includes good news for insurance agents and brokers. Attorneys with Locke Lord LLP examine whether that good news will carry over to participants in the life settlement industry.

  • How Corporate Reputation Risk Is Exacerbating D&O Liability

    Nir Kossovsky

    At a time when the materiality of corporate reputation risk is widely recognized, but institutional safeguards against that risk are not, what are the implications for directors and officers? The current state of play is not comforting, says Nir Kossovsky of Steel City Re.

  • Triggering Civil Authority Coverage After A Natural Disaster

    Tracey Jordan

    As hurricane season continues, insured business owners in affected areas are likely to seek coverage for loss of business income. It's important to recognize that for business income insurance to cover losses caused by a civil authority order, the order must be a result of actual property damage, says Tracey Jordan of Foran Glennon Palandech Ponzi & Rudloff PC.

  • Fla. Insurers Should Beware Expanded Bad Faith Standards

    Rory Jurman

    The Eleventh Circuit's decision in Bannon v. Geico essentially establishes that Florida insurers have an affirmative duty to initiate settlement negotiations where it is clear that liability lies mostly with their insureds. However, it is unclear what apportionment of fault will trigger the insured's duty, say Rory Jurman and Vanessa Alvarez at Fowler White Burnett PA.