Claiming that shareholders can pin nothing on him, a former American International Group Inc. senior director has asked a court to throw out claims against him in a consolidated securities class action alleging book-cooking by the insurer and its executives.
As U.S. lawmakers grapple with how to manage systemic risk in the financial markets, a group of state insurance legislators has called on congressional leaders not to forget the role of the states in any new regulatory scheme.
Evanston Insurance Co. has sued a Texas nonprofit organ and tissue donation company in an attempt to avoid paying legal defense costs for the nonprofit, which faces claims of handing over donated organs to for-profit companies to sell.
Citing two critical errors by the lower court, a federal appeals court has breathed new life into a putative class action alleging that Farmers Group Inc. charges minorities higher premiums for homeowners insurance than it charges their white counterparts.
A federal judge has ruled that Union Insurance Co. is obligated to defend Starwood Hotels & Resorts Worldwide Inc. and other entities affiliated with a South Carolina Sheraton in seven lawsuits filed by guests who claim to have suffered injuries from exposure to bacteria in the hotel’s water system.
American International Group Inc. unit American General Life Insurance Co. has sued a New Jersey trustee and other defendants for what it says is a pattern of misconduct involving life insurance policies, in this case accusing the defendants of materially misrepresenting the wealth of a woman who applied for a $10 million life insurance policy.
The lead plaintiffs in a consolidated wage-and-hour collective and class action against AXA Equitable Life Insurance Co. have overcome the final obstacle in their path to a $6.5 million settlement and won preliminary approval of the deal after revising the proposed class notice.
A group of 18 financial institutions from around the world, including Bank of America NA, Citibank NA and JPMorgan Chase Bank NA, has alleged that MBIA Inc. defrauded policyholders when the bond insurer split its public finance and structured finance insurance businesses earlier this year.
A California appeals court has ruled that the Employee Retirement Income Security Act does not preempt a state law requiring insurers to pay for emergency care provided to covered patients, reviving a suit against Blue Cross of California brought by an out-of-network hospital seeking compensation.
Travelers Indemnity Co. of America has asked a bankruptcy court to lift the automatic stay in DHP Holdings II Corp.'s Chapter 11 case in order to pursue litigation on behalf of a Chicago warehouse that suffered a fire allegedly caused by DHP units' faulty heaters.
The Michigan Supreme Court has agreed to hear a case over whether insurance companies can use credit scores as a factor in determining premiums.
Reversing a state appeals court's opinion, the California Supreme Court has ruled that injured workers who initiate proceedings against insurers for wrongly denied medical treatments are not entitled to an award of attorneys’ fees under the state labor code.
Seagate Technology LLC on Tuesday asked the court overseeing its suit accusing National Union Fire Insurance Co. of Pittsburgh, Pa., of wrongfully withholding millions of dollars in defense costs related to a patent suit to exclude parts of expert reports and proposed testimony from an intellectual property lawyer and from an insurance-industry expert.
South Carolina businesses pursuing a putative class action against American International Group Inc. alleging the insurer fraudulently calculated workers' compensation premiums have filed a third amended complaint, after a judge ordered them to remove "immaterial, impertinent or scandalous matter."
The U.S. Court of Appeals for the Second Circuit has affirmed that Zurich American Insurance Co. is not required to reimburse an art dealer for the cost of a Fernando Botero painting sold to a buyer who disappeared without making the full payment.
A federal judge has ruled that Acadia Insurance Co. must contribute to litigation costs paid by Travelers Indemnity Co. to defend a construction company that was sued over an allegedly defective roof at a water filtration plant.
A well-known plaintiffs lawyer in Arkansas has reportedly come under suspicion from federal authorities after failing to cough up $9 million in settlement money in a securities class action against insurer Bisys Group Inc., which was supposed to be distributed to plaintiffs starting in April.
A federal judge has dismissed Bridgestone Firestone North American Tire LLC's attempt to recover from Liberty Mutual Insurance Co. and others defense and settlement costs from underlying litigation brought by Firestone employees claiming that unreasonable factory noise caused hearing loss.
A federal judge has ruled that Axis Surplus Insurance Co. cannot be held liable for the emotional distress of a New Orleans condominium board claiming its complex sustained over $5 million in damages as a result of Hurricane Katrina.
A judge has issued default judgments compelling several defendants to pony up more than $464 million in a protracted securities class action over allegedly fraudulent viatical life insurance contracts by Mutual Benefits Corp.