Clarendon National Insurance Co. has filed a lawsuit in Colorado federal court against Goodman McGuffey LLP, accusing the firm of giving bad advice regarding policies issued to construction professionals, costing it over $3 million.
Drawing inspiration from 18th-century poet Alexander Pope's ruminations on forces of nature, a Kentucky federal judge has ruled that Continental Refining Co.'s claim for coverage of damage to its crude oil refinery from a 2015 explosion is clearly excluded under its equipment breakdown insurance policy.
A Mesquite, Texas-based bariatric surgeon who was one of the founders of Forest Park Medical Center has entered a guilty plea for his role in what the government alleges is a $40 million bribery and kickback scheme.
HealthNow New York Inc. has asked a Texas federal court just to allow it to escape an Employee Retirement Income Security Act suit from seven affiliated hospitals which had claimed that dozens of Blue Cross Blue Shield entities underpaid them by tens of millions of dollars.
A Texas federal judge on Thursday ruled that Great American Insurance Co. wrongfully refused to cover Nobilis Health Corp.’s costs to defend two shareholder class action suits accusing Nobilis of artificially inflating its stock price, finding that the suits involved allegations similar to those in an earlier action the insurer had agreed to cover.
A Florida woman hit State Farm Fire and Casualty Co. with a proposed class action Thursday alleging it repeatedly used wide telemarketing campaigns and called consumers, who were on the do not call list, without their consent.
The Second Circuit waded waist-deep into a New York chocolate company's insurance policy at argument Thursday in a bid to sort out whether a $53 million Hurricane Sandy-related claim was caused by a covered windstorm or an excluded flood.
Nationwide Mutual Insurance Co. has shot back at an agency's claim that Nationwide could only cut agents' retirement benefits when necessary, telling a Virginia federal judge that the agents' contract gave Nationwide the right to slash benefits whether it needed to or not.
Transamerica Life Insurance Co. has agreed to pay $195 million to settle a consolidated class action accusing the company of breaching its agreements with policyholders by drastically increasing their monthly costs, according to a Thursday filing in California federal court seeking preliminary approval of the deal.
An Eleventh Circuit panel on Thursday declined to overturn the 10-year prison sentence of Mutual Benefits Corp.'s former outside counsel, finding that the government presented sufficient evidence at trial to support fraud convictions for his role in a massive insurance investment scheme.
A plumbing manufacturing company formerly based in Erie asked a Pennsylvania federal court on Thursday to make Allstate Insurance cover the company’s asbestos-related settlements and defense costs, including claims about exposures dating to the late 1970s or earlier.
A global standards setting agency has said it will consider delaying the introduction of major accounting reforms set to come into force in 2021 after European insurers urged it to apply the brakes and rewrite the rules.
Cigna Corp. has named Nicole S. Jones general counsel of the combined company created by its $67 billion purchase of pharmacy benefits manager Express Scripts Inc., the same position she previously held with the health insurer.
An insurance dispute over losses suffered by Merrimack College from an employee’s $6 million fraudulent student loan scheme is headed to arbitration, a Massachusetts federal judge ruled Tuesday after the college disputed a forensic accountant’s assessment of the coverage.
A Pennsylvania appeals court on Wednesday ruled that Tuscarora Wayne Insurance Co. must defend and indemnify vehicle salvage company Hebron Inc. in litigation over property damage stemming from a large fire at Hebron’s facility in 2014, reversing a lower court and holding that a policy exclusion for claims related to business activities doesn’t apply.
The estate of a woman who died in a nursing home has urged the First Circuit to reinstate a Massachusetts federal court's initial finding that an insurance claims administrator’s $2 million settlement offer wasn’t reasonable or timely, arguing that it was too small and too late to satisfy consumer protection laws.
A Kentucky jury has found Greenwich Insurance Co. must pay more than $15 million in compensatory and punitive damages to property owners after concluding the insurer acted in bad faith by refusing to cover an energy company's settlement of claims that it trespassed on multiple properties to extract natural gas.
A mining company told a London judge Tuesday that several American-owned insurers are violating English criminal law by relying on U.S. nuclear sanctions to refuse to cover the theft of $3.8 million worth of steel from an Iranian port.
European insurers called on Wednesday for a two-year delay to the introduction of onerous new accounting standards due to take effect in 2021 as they urged the regime’s architects to “reopen” the rulebook and make sweeping changes.
The head of the Office of the Comptroller of the Currency told senators Tuesday that his agency is working with Wells Fargo leadership on remediation for hundreds of thousands of customers who were forced to buy unnecessary auto insurance but is “not comfortable where we are with them.”
In TIAA-CREF Insurance Appeals, the Delaware Supreme Court struck a blow to insurers seeking to avoid responsibility for settlement payments made by policyholders. Though decided under New York law, this opinion opens the door to a fact-specific analysis that may help policyholders facing similar denials, say Catherine Doyle and Jan Larson of Jenner & Block LLP.
The Third Circuit recently ruled in Encompass v. Stone Mansions that a defendant can remove a case to federal court on the basis of diversity jurisdiction before the plaintiff formally serves the forum state defendant. This may be the first appellate decision on this issue, says Brittany Wakim of Schnader Harrison Segal & Lewis LLP.
It is at this point axiomatic that the Trump administration is intent on reversing significant portions of the Obama administration's regulatory activity. Interestingly, it seems that courts may pose another major risk to the survival of some Obama-era initiatives, say Andrew Oringer and Samuel Scarritt-Selman of Dechert LLP.
The U.S. Securities and Exchange Commission last week announced settlements with Aegon and several of its affiliates for alleged misconduct involving faulty quantitative investment models. The case illustrates the pitfalls of implementing an ambitious investment program poorly, say Brian Daly and Anna Maleva-Otto of Schulte Roth & Zabel LLP.
Programs involving the use of autonomous vehicles by parties other than direct owners, such as ride-share, peer-to-peer, and leasing and rental programs, create new insurance issues for manufacturers, owners, lessors and users of autonomous vehicles, says Robert Campedel of Eckert Seamans Cherin & Mellott LLC.
In this new series featuring law school luminaries, Widener University Delaware Law School dean Rodney Smolla discusses teaching philosophies, his interest in First Amendment law, and arguing before the U.S. Supreme Court in Virginia v. Black.
In the debate between transparent underwriting and the protection of trade secrets, the California Department of Insurance has conclusively picked a side with a recent opinion. However, the CDI has not necessarily picked the winning side as a matter of law, and the issue is likely to wind up in courts soon, say Nicholas Gregory and Shawn Hanson of Akin Gump Strauss Hauer & Feld LLP.
As lower courts decide whether to apply the U.S. Supreme Court's AmEx decision to other types of two-sided markets, the key question will be whether allegedly anti-competitive conduct on one side of a platform may be credibly constrained by indirect network effects on the other, say Barry Reingold and David Chiappetta of Perkins Coie LLP.
A few weeks ago, the IRS proposed regulations related to the Tax Cuts and Jobs Act's 20 percent deduction on qualified business income for pass-through entities. The guidance offers long-awaited clarity, but is mostly bad news for many law firms, says Evan Morgan of Kaufman Rossin PA.
Judicial impeachment fever seems to be spreading through the states, with West Virginia legislators recently voting to remove their state's entire Supreme Court, and lawmakers in Pennsylvania and North Carolina threatening the same. These actions are a serious threat to judicial independence, says Jan van Zyl Smit of the Bingham Centre for the Rule of Law.