Insurance

  • January 15, 2008

    Insurers, Brokers Not ERISA Fiduciaries: Judge

    A district court judge has shot down a class action claiming that a group of insurance brokers and providers violated the Employee Retirement Income Security Act when they conspired to block competition and shell out kickbacks.

  • January 14, 2008

    London's ING Re Seeks To Block U.S. Creditors

    Seeking to keep its U.S. creditors at bay, London-based reinsurer ING Re (U.K.) Ltd. will get a chance to make its case for Chapter 15 bankruptcy protection before a U.S. judge later this month.

  • January 14, 2008

    MBIA Faces Class Action Over $8.1B Loss Exposure

    Bond insurance giant MBIA Inc. has been hit with a shareholder class action alleging top executives hid the company's exposure to massive losses stemming from its coverage of residential mortgage-backed securities.

  • January 11, 2008

    Aetna Sues Express Scripts For Return Of $75M

    Aetna Inc. filed suit Thursday against Express Scripts Inc. and subsidiary CuraScript Inc., accusing the pharmacy benefit management companies of attempting to cheat the insurance giant out of the benefits of its bargain with Express Scripts subsidiary Priority Healthcare Corp.

  • January 10, 2008

    City Scores In Employer-Funded Health Care Battle

    An appeals court has paved the way for the city of San Francisco to extend health coverage to its uninsured residents by staying a district court's earlier ruling that the city's landmark employer-funded health care program is preempted by federal law.

  • January 9, 2008

    Ex-Counsel Sues To Break Glass Ceiling

    A former general counsel for CIFG Holding has filed a gender discrimination suit against the French financial guaranty insurer for allegedly subjecting employees to a "glass ceiling,” which prevented women from reaching senior management positions.

  • January 10, 2008

    N.J. Awaits Governor's OK On Wrongful Death Suit Bill

    New Jersey trial lawyers, consumer groups and insurers are among those closely watching as the governor prepares to weigh in on a contentious bill that would open the door to wrongful death lawsuits, after the measure squeezed through the state legislature this week.

  • January 9, 2008

    Bankrupt Co.'s Insurer To Pay $42M For Toxic Mess

    A member company of American International Group Inc. has agreed to fork over $42.5 million to clean up contamination at four industrial facilities formerly owned by Fruit of the Loom, the U.S. Department of Justice said Wednesday.

  • January 8, 2008

    Hartford Life Suit Not Preempted By ERISA: Judge

    A federal judge has removed a suit brought against the Hartford Life and Annuity Insurance Co. to state court, finding that the case’s claims were not preempted by ERISA as the insurance company had argued.

  • January 8, 2008

    Judge Endorses Holocaust Settlement Amid Concerns

    A Manhattan district judge has once again given the green light to a class action settlement between Holocaust survivors and their families against Assicurazioni Generali SpA, ignoring an appellate court's fears that potential class members have not been sufficiently notified of the deal with the Italian insurer.

  • January 7, 2008

    Marsh Derivative Plaintiffs Battle Over Deloitte Claims

    Lead plaintiffs in derivative litigation filed on behalf of Marsh & McLennan Cos. Inc. against its directors, alleging that they steered clients to insurers for kickbacks, are digging in their heels against another plaintiff's bid to reopen federal claims against auditor Deloitte & Touche LLP.

  • January 8, 2008

    NCAA Trial Abandoned As Settlement Nears

    A trial has been delayed in a federal antitrust lawsuit against the National Collegiate Athletic Association over the costs student-athletes pay in expenses and insurance, because a settlement is near.

  • January 7, 2008

    Court To Reconsider Post-Claim Underwriting Class

    A California state court on Thursday granted a new hearing on whether health insurance holders could bring a class action against Blue Shield over alleged post-claim underwriting, vacating an earlier order which had certified the purported class in the case.

  • January 7, 2008

    Judge Asked To OK $13.5M RenRe Fraud Settlement

    A federal judge has been asked to grant final approval to a $13.5 million deal between RenaissanceRe Holdings Ltd and its shareholders to resolve a class action alleging the insurer defrauded investors with misleading financial reports.

  • January 8, 2008

    Weyerhaeuser Loses Dispute Over Asbestos Claims

    Weyerhaeuser Co. was wrong to file asbestos liability claims under coverage policies set before the people who made the claims were actually exposed, a judge has ruled, handing partial summary judgment to the lumber company's insurer, Fireman's Fund Insurance Co.

  • January 8, 2008

    Circuit Reverses Ruling In Insurance Class Action

    An appellate court has brought back to life a proposed class action suit against Foremost Insurance Co., ruling that claims from insurance policyholders whose property was damaged in 2004 Florida hurricanes should be heard by the district court.

  • January 4, 2008

    Travelers Settles Securities Fraud Case for $77M

    Travelers Cos. Inc. has agreed to pay $77 million to put to rest a purported class action alleging insurance securities fraud resulting from the company's alleged involvement in a bid-rigging scandal, the New Mexico attorney general announced Thursday.

  • January 2, 2008

    Travelers Cos. Settles Bid-Rigging Claims

    Travelers Companies Inc. agreed to pay $6 million to a multistate task force to resolve allegations that the company was involved in a bid-rigging and price-fixing plot in the commercial insurance market, the company and the Florida attorney general revealed Monday.

  • January 2, 2008

    Judge Refuses Request For Buffett Documents

    With a trial date looming, a judge has quashed a subpoena by the former chief executive of Berkshire Hathaway Inc.'s General Reinsurance for written communications between Berkshire leader Warren Buffett and leaders of the subsidiary.

  • December 20, 2007

    Judge Throws Out Suit Over Accident At Oil Co.

    A judge has dismissed a lawsuit against Phillips Petroleum Company alleging it and others conspired to intentionally misrepresent the state of Phillips' workers' compensation insurance following a fatal industrial accident.