The U.S. Senate passed legislation Friday that would update the Federal Housing Administration’s mortgage insurance program, taking the first step toward helping consumers affected by the subprime mortgage crisis.
A judge declined to sanction Miracle-Gro maker Scotts Co. LLC for obstructing a deposition in an insurance dispute with Liberty Mutual Insurance Co. but ordered a new deposition of one of its witnesses and strongly admonished the company for its conduct on Thursday.
As the bribery scandal surrounding Richard “Dickie” Scruggs continues to unfold, the plaintiff at the heart of the fee dispute that started it all has asked that the court to seize the $26.5 million in attorneys' fees that Scruggs is expected to recoup from the Hurricane Katrina litigation against major insurers.
Geico General Insurance Co. and its subsidiaries are facing a class action for allegedly cheating customers out of full reimbursement for automobile repairs by paying reduced prices for replacement parts.
A federal judge on Wednesday found that defense contractor Raytheon Aircraft Co. may be precluded from government reimbursement for the environmental cleanup costs of a Kansas airport if it had already received money from insurers and other government contracts.
In a surprising twist, the Scruggs Law Firm has decided to withdraw from the long-standing Hurricane Katrina litigation against major insurers, a week after famed plaintiffs' attorney Richard “Dickie” Scruggs and others were indicted for allegedly bribing a Mississippi state judge.
A new study has sounded the alarm over the legal chain reaction that climate change may create for businesses and has warned companies to prepare themselves for potential shareholder litigation and increased insurance premiums related to environmental changes.
Three former executives of defunct brokerage firm Park Capital Securities LLC were indicted, arrested and arraigned Wednesday on charges of “pumping and dumping” the stock of insurance claim recovery company Cordia Corp. in violation of federal securities law.
A judge has partially certified a class in a lawsuit filed against Wells Fargo & Co. by a group of homeowners alleging the bank had a kickback arrangement with several private mortgage insurers, granting the plaintiffs' motion for class status but imposing several restrictions on the class period.
The U.S. Coast Guard National Pollution Funds Center was wrong to reject a pollution liability insurance provider's claims over an oil spill in Puerto Rico, a district court judge has ruled, rebuffing the federal government's attempt to chuck the case.
Billionaire and Berkshire Hathaway Inc. leader Warren Buffett has been included on a witness list for the upcoming criminal trial of four former executives of his company's reinsurance unit, General Reinsurance.
Days after Federal Communications Commission Chairman Kevin Martin endured a public battle with his fellow commissioners, many are speculating that the lingering tension at the FCC could become a insurmountable roadblock to its progress.
An appeals court ruled on Friday that a district court erred in deciding to force the Life Insurance Company of North America to pay a former Sprint employee long-term disability benefits by allowing evidence from outside the benefit plan's administrative record.
The Union Labor Life Insurance Co. has agreed to pay $20 million to settle allegations that the company violated ERISA, putting to rest a five-year U.S. Department of Labor investigation.
Plaintiffs in a two-year-old employment lawsuit against bankrupt subprime lender New Century Financial Corp. objected on Tuesday to New Century's motion to release its captive insurance company from its obligations, saying that this would hurt the plaintiffs' chances of a fair award in the case.
The effects of the growing subprime mortgage crisis have already touched borrowers, lenders and underwriters, and insurers are likely to be next on the list. Providers of directors and officers liability insurance may have to pay out as much as $3 billion to cover claims from executives, according to the estimates of one insurance broker.
A federal judge has denied State Farm Fire & Casualty Co.’s bid to toss a breach of contract claim by a couple whose General Motors Corp.-manufactured car spontaneously burst into flames, but has allowed the damages to be limited to the value of car components erroneously disposed of by the insurer's investigators.
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.
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.
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.