Insurance

  • January 26, 2007

    Italy Passes Sweeping Liberalization Laws

    In a move that will loosen regulations on insurers, hairdressers, airlines, petrol pumps and many other types of businesses, the Italian government has passed a big package of measures to liberalize the market and heighten business competition across the country.

  • January 26, 2007

    Katrina Lawyers Could Get $46 Million

    Famed lawyer Richard “Dickie” Scruggs will once again receive a huge payout from a class action case, taking home millions from his involvement in the Hurricane Katrina case against insurance carrier State Farm Fire & Casualty Co.

  • January 25, 2007

    Northwest To Fork Over $14M To PBGC

    Northwest Airlines has agreed to shell out $14 million to the Pension Benefit Guaranty Corp., seeking to end a dispute over the airline’s delinquent insurance premiums for its pilot retirement plan.

  • January 24, 2007

    Insurance Co. Granted Request For NASD Arbitration

    A Pennsylvania insurance company has won a small victory in a securities and wrongful-termination case filed against the firm after a judge ruled that the company has the right to compel arbitration before the National Association of Securities Dealers.

  • January 24, 2007

    Ex-State Farm Agents Stripped Of $20M Award

    In a reversal of fortune, the Missouri Court of Appeals has tossed out a $20 million jury award granted to five former State Farm Insurance agents who alleged that they were unfairly fired due to critical remarks they made regarding the company's treatment of policyholders.

  • January 24, 2007

    State Farm To Pay $80M For Katrina Claims

    In a resolution that will give thousands of insurance policyholders the chance to review and dispute their awards, State Farm Fire & Casualty Co. has agreed to pay at least $80 million to settle a class action brought by Mississippi residents who suffered damages from Hurricanes Katrina and Rita.

  • January 24, 2007

    Report Faults E.U.'s Insurance Sector

    Europe’s businesses may be paying too much for insurance, according to an interim report released Wednesday by the European Commission.

  • January 23, 2007

    GM Loses Asbestos Claims Case To U.K. Insurer

    In a setback for General Motors Corp., a United States Court has dismissed a $900 million claim against insurance company Royal & Sun Alliance Insurance Group Plc brought by the troubled auto company for asbestos-related damages.

  • January 23, 2007

    Tenants Sue Insurance Co. Over Rent Hikes

    Thousands of Stuyvesant Town and Peter Cooper Village tenants in New York on Monday filed a class action against landlords Metropolitan Life Insurance Co. and Tishman Speyer Properties LC for allegedly pocketing almost $25 million in tax breaks.

  • January 23, 2007

    Law Firm Demands Unpaid Rape Trial Fees

    An Arizona law firm that defended a bar manager in a rape case has headed back to court to recover trial fees it claims were never paid by the bar's insurance company.

  • January 23, 2007

    Ruling Poses Problem for California Health Plan

    A federal appellate court ruling that pre-empted Maryland’s controversial “Wal-Mart law” may spell trouble for Gov. Arnold Schwarzenegger’s ambitious proposal requiring most employers to chip in for health coverage so all of California’s residents can be insured.

  • January 18, 2007

    Bush Lauds Genetic Nondiscrimination Bill

    President Bush has called on Congress to greenlight a bipartisan genetic privacy bill that would prevent employers and insurance companies from exploiting genetic information.

  • January 18, 2007

    Judge To Rule On Adelphia Insurance Policy

    A bankruptcy judge is set to rule next week on a dispute over an Adelphia Communications Corp. insurance policy that takes care of the founding Rigas family’s legal defense expenses.

  • January 18, 2007

    E.C. Seeks To Limit Auditors' Liability

    The European Commission is seeking public comment on financial auditors’ liability, a move prompted by the growing risk of litigation and dearth of available insurance for auditors.

  • January 17, 2007

    Court Backs Dismissal Of Maryland’s “Wal-Mart Law”

    In a favorable 2-1 ruling for the world’s largest retailer, an appeals court has found that Maryland’s contentious “Wal-Mart law,” which would have forced the company to provide health insurance to its employees, is a violation of federal law.

  • January 16, 2007

    Insurers Urge High Court To Take Credit Case

    GEICO General Insurance Co. and Safeco Insurance Co. of America on Tuesday argued before the U.S. Supreme Court against an appeals court’s decision that essentially made them liable for violating federal fair credit laws even when they do not do so “willfully.”

  • January 11, 2007

    Katrina Insurance Suits Sent To Mediation

    A slew of lawsuits brought by policyholders against insurance companies in the wake of Hurricane Katrina have been ordered into mediation by a Mississippi federal judge, just as the first trial over hurricane-related insurance claims ended in a defeat for the nation's largest auto and home insurer.

  • January 11, 2007

    ING Hit With Suit Over Revenue Sharing

    Dutch insurance provider ING Groep NV has been hit with a lawsuit alleging the company took kickbacks from mutual fund companies in exchange for promoting certain funds.

  • January 12, 2007

    Hospital Operator Settles With Uninsured For $423M

    A superior court has approved a $423 million settlement for a class of uninsured patients who claimed hospitals in three states charged excessive medical fees.

  • January 10, 2007

    Insurers Eye Backdating Scandal

    The ever-widening stock options backdating scandal has become a major issue not only for companies and their executives, but also for insurers, many of which have identified options cases as a major source of claims for the upcoming year.