Insurance

  • February 5, 2009

    FIC Bid To Deny Legal Coverage To Sammons Lives

    Sammons Financial Group Inc. has lost its attempt to dismiss a declaratory judgment lawsuit brought by Federal Insurance Co. stemming from a spat over whether FIC should cover the legal costs of three class actions, though Sammons did win a partial stay in the case.

  • February 5, 2009

    State Insurance Regulators Enter CDS Oversight Fray

    With new regulation of credit default swaps seemingly a foregone conclusion, state regulators are making their case that the states should take the lead in overseeing the multitrillion-dollar market.

  • February 4, 2009

    Insurer Sues Developer Over Coverage In CWA Case

    Auto-Owners Insurance Co. has filed a lawsuit claiming it isn't required to defend a Georgia developer accused of committing environmental violations in the construction of a housing project in the Chattahoochee River basin.

  • February 4, 2009

    Spirco Must Indemnify Surety Bond Issuer: 8th Circ.

    A federal appeals court has ruled that contractor Spirco Environmental Inc. must indemnify the Insurance Company of the State of Pennsylvania for the cost it incurred defending a claim against a surety bond it issued to Spirco, and that another insurer must, in turn, provide coverage to Spirco for this cost.

  • February 4, 2009

    Reinsurer Off Hook In Hospital Malpractice Suit

    A Long Island, N.Y., hospital failed to give adequate notice when it applied for excess insurance coverage in a medical malpractice case dating back to 1983, an appeals court said Tuesday in affirming a lower court's October 2007 summary judgment ruling in favor of a reinsurer.

  • February 4, 2009

    Fridge Recycler Sues AIG Unit Over Defense Costs

    Jaco Environmental Inc. has sued American Specialty Lines Insurance Co., saying the insurer should pay the defense costs in a patent infringement suit brought by a rival against the refrigerator recycling company.

  • February 4, 2009

    Judge Orders XL Unit To Pay Trucking Co. Legal Fees

    A federal judge has ruled that a primary liability insurance provider and affiliate of XL Capital Ltd. breached its duty to defend a trucking company in a lawsuit and must reimburse more than $450,000 in legal fees paid by an excess insurer to Williams Kastner & Gibbs PLLC.

  • February 4, 2009

    DC Circ. Expedites Challenge To SEC FIA Rule

    The federal appeals court overseeing several insurance companies' challenge to a U.S. Securities and Exchange Commission rule that treats fixed index annuities as securities has agreed to expedite its review of the matter, clearing the way for oral arguments to possibly take place in late April.

  • February 3, 2009

    Trinidad Silo Collapse Triggers US Insurance Battle

    Industrial installation company Lexicon Inc. has sued two insurers, claiming they failed to indemnify it in the wake of a 2007 silo collapse at a Trinidad construction site that caused $4 million in damage.

  • February 3, 2009

    Insurer Off The Hook For Trade Dress Settlement

    The U.S. Court of Appeals for the Ninth Circuit has upheld a lower court's ruling that United National Insurance Co. does not need to cover the cost of a settlement in a trade dress infringement suit involving rival diet drink companies.

  • February 3, 2009

    Judge Keeps Copyright Case Against Prudential Alive

    A federal judge has refused to dismiss a copyright infringement lawsuit accusing Prudential Insurance Co. of America of copying the marketing materials of a small Pennsylvania financial services organization.

  • February 3, 2009

    Mich. AG Appeals Dismissal Of Blue Cross Suit

    Michigan Attorney General Mike Cox is challenging the dismissal of a lawsuit he filed against Blue Cross Blue Shield of Michigan in July that sought to force the nonprofit to divest a for-profit workers' compensation insurance company Cox claims was unlawfully acquired.

  • February 3, 2009

    Liability Fight Breaks Out In KidsPeace $1M Bias Case

    The general insurer of KidsPeace Corp. is protesting the children's facility's attempt to force the company to cover part of a $1.3 million employment discrimination settlement, arguing that such disputes are covered by a completely separate policy.

  • February 3, 2009

    Credit Suisse Seeks Sanctions Against Lloyds

    Credit Suisse Securities LLC has asked the court overseeing litigation over the collapse of health care lender National Century Financial Enterprises Inc. to sanction Lloyds TSB Bank PLC for allegedly hiding a deal with Moody's Investor Services Inc. in order to manipulate a deposition in its favor.

  • February 3, 2009

    Grange, Chubb Battle Over Indemnity For Class Action

    A judge has granted in part a bid by Grange Mutual Casualty Co. and its units to compel discovery in a dispute with Chubb Custom Insurance Co. over coverage of a settlement in a class action accusing Grange and many other insurers of improper claims practices.

  • February 3, 2009

    Insurance Spat Over IP Firm Gender Bias Suit Tossed

    A federal judge has dismissed with prejudice a suit brought by Markel Insurance Co. seeking a declaratory judgment that it need not defend or indemnify intellectual property law firm Cohen Pontani Lieberman & Pavane LLP in a sex discrimination suit brought by a female former associate.

  • February 3, 2009

    Insurer Flooded With Counterclaims In BU Piping Suit

    The Trustees of Boston University have hit back at Travelers Property Casualty Co. of America over the insurer's bid to refuse coverage for a $6 million claim over a leaky biowaste removal system at the university's new infectious diseases laboratory because of an exemption for faulty design and workmanship in the project's policy.

  • February 2, 2009

    Quigley Tries To Bury The Hatchet With Insurers

    After months of fighting, Quigley Co. is asking the bankruptcy court to sign off on a $12 million settlement with a handful of insurance companies that had previously tried to block the Pfizer Inc. subsidiary's reorganization plan.

  • February 2, 2009

    Ex-CEO Of La. Insurer Pleads Not Guilty To Theft

    The ex-chief of a state-backed insurance company in Louisiana has entered a not guilty plea in a case alleging that he squandered company money on travel and entertainment expenses that included cigars and fine dining.

  • February 2, 2009

    Magistrate Presses Court To Keep Allstate Fraud Suit

    A magistrate judge has urged a federal court not to dismiss Allstate Insurance Co.'s claims that a bevy of chiropractors, telemarketers and personal injury attorneys in Texas, Ohio, Indiana and Alabama conspired to bill the insurer for unnecessary medical treatment in a $2 million scheme.