Insurance

  • November 12, 2007

    "Pay Or Play" Laws Will Lead To Layoffs: Study

    One in 10 low-wage workers could lose their jobs as a result of proposed “pay or play” laws which require employers to provide health insurance to their workers or pay a fine, according to a new study by Cornell University economists.

  • November 13, 2007

    Judge Dismisses Breach Of Contract Suit Vs. MetLife

    A federal judge has thrown out a proposed class action lawsuit in which a group of life insurance policy holders accused Metropolitan Life Insurance Co. of giving them lower dividends than those to which they were entitled.

  • November 13, 2007

    Judge Gives Green Light To AHM's Fraud Suit

    A federal judge has refused to dismiss a fraud case brought by bankrupt lender American Home Mortgage Co. against property title insurance underwriter First American Title Insurance Co. arising from its alleged participation in the New Jersey Affordable Homes fraud scheme.

  • November 9, 2007

    Ex-VP Settles SEC's RenRe “Cookie Jar” Suit

    The second of three former RenaissanceRe Holdings Ltd. executives has raised a white flag in the U.S. Securities and Exchange Commission's suit over his alleged role in the scandal that broke when the reinsurance company allegedly cooked its books to smooth out earnings disparities.

  • November 8, 2007

    Louisiana AG Hits Insurers With Collusion Claims

    The tangled mass of litigation arising out of Hurricanes Katrina and Rita just got a little more complicated, thanks to the Louisiana attorney general accusing a host of insurers of deliberately conspiring to keep claims payments low before, during and after the disasters.

  • November 7, 2007

    Damages Slate Wiped Clean In Graham Co. Case

    A judge ruled on Tuesday that in a retrial of William A. Graham Co.'s copyright infringement case against an insurance brokerage firm, the jury will not be bound by the previous jury's damages calculation, which resulted in a near-$20 million award.

  • November 5, 2007

    Judge Tosses Claims Against E&Y In Scottish Re Suit

    A class action shareholder lawsuit filed against reinsurance company Scottish Re and its underwriters will stay alive, although not intact, after a judge partially granted and partially denied the company's motion to dismiss the charges.

  • November 5, 2007

    State Farm Strikes Back At Mississippi AG

    State Farm Insurance Co. has fired off a lawsuit against Mississippi Attorney General Jim Hood for purportedly reneging on an agreement to bury a criminal probe into the insurer's handling of Hurricane Katrina claims.

  • November 5, 2007

    Insurance Antitrust Defendents Fight For Stay

    The defendants in a class action over anti-competitive conduct in the insurance industry on Friday insisted that, despite arguments from several plaintiffs, not staying the case as it goes through the appeals court would cause the multidistrict litigation to “degenerate into piecemeal litigation of common issue.”

  • November 6, 2007

    Tenured Professors' Retirement Payments Taxable

    Overturning an earlier ruling by a district court and choosing between two conflicting precedents, an appellate court ruled Friday that early retirement payments made by the University of Pittsburgh to tenured professors could be taxed by the U.S. government under the Federal Insurance Contribution Act.

  • November 6, 2007

    Firm Agrees To Pay $45M To Settle Class Action

    JMIC Life Insurance Co. will pay $45 million to settle a class action lawsuit alleging it did not refund customers their unearned insurance premiums.

  • November 1, 2007

    New Criminal Suit Says Ponzi Schemers Lied To SEC

    A suit the U.S. Securities and Exchange Commission filed last year against the two owners of a benefit counseling service and insurance agency for their alleged investment Ponzi scheme has ballooned into criminal charges of mail fraud and lying to the agency, the SEC said Thursday.

  • October 30, 2007

    Homebuilders Quell HUD Kickback Investigation

    Six homebuilders, including Pulte Homes Inc., KB Home and Beazer Homes USA Inc., will pay almost $1.4 million to resolve a U.S. Department of Housing and Urban Development probe into allegations that title insurance companies paid kickbacks to the builders in exchange for referrals.

  • October 30, 2007

    Court OKs ERISA, Securities Settlements For Delphi

    A bankruptcy court on Monday gave preliminary approval to a series of settlements between Delphi Corp. and its former employees, shareholders and insurers in a multidistrict litigation, overruling objections from numerous creditors.

  • October 26, 2007

    After Raid, WellCare Facing Securities Suits

    Days after federal and Florida state agents raided WellCare Health Plans Inc.’s Tampa offices, the health insurance company is facing another potential threat: shareholder suits.

  • October 25, 2007

    ACE Group Pays $4.5M to Settle Antitrust Allegations

    Insurance carrier ACE Group Holdings Inc. has agreed to pay $4.5 million to settle charges that it conspired to rig bids and fix prices in the commercial insurance market, Florida's Attorney General announced Thursday.

  • October 24, 2007

    Calif. Seeks To Rein In Rescission Practices

    California health care regulators have pledged to place restrictions on when insurance companies can pull health coverage after patients fall ill and recommended that insurers review an applicant’s medical history before offering a policy.

  • October 23, 2007

    Willis Group Settles Sex Discrimination Suit For $8.5M

    A class of 180 current and former women officers at Willis Group Holdings Ltd. has secured initial court approval for an $8.5 million settlement over charges that the insurance broker discriminated against them on the basis of gender.

  • October 22, 2007

    Liberty Seeks Dismissal From Murphy Fire Suit

    Liberty Mutual Insurance Co. has asked to be dismissed from a proposed personal injury class action over a fire at a Murphy Oil USA Inc. refinery, arguing that the energy company has exhausted its insurance coverage.

  • October 19, 2007

    Whirlpool Fights Arbitrator On Smokers Premium

    Home-appliance giant Whirlpool Corp. asked a federal court on Thursday to overrule an arbitrator who ordered the company to return a health insurance surcharge paid by workers who smoked.