• July 7, 2017

    Insurer Says It Needn't Defend Resort Against $1M TCPA Suit

    The Cincinnati Insurance Co. asked an Illinois federal judge Thursday for a declaratory judgment that it doesn't have to defend a Missouri resort against a putative class of people suing it under the Telephone Consumer Protection Act who are expected to settle their suit for over $1 million.

  • July 7, 2017

    Texas Insurance Agency Owner Gets 7 Years For $4.6M Fraud

    The owner of an insurance agency who pled guilty to charges he ran a scheme to defraud Ace European Insurance Co. out of more than $4.6 million was sentenced Friday to 87 months in prison for wire fraud and aiding and abetting in the scam he carried on for 11 years.

  • July 7, 2017

    Insurer Must Defend Transporters' Cleanup Case, Judge Says

    A Texas federal judge on Friday ruled that an AIG affiliate must defend a pair of waste transportation companies in litigation over environmental cleanup efforts at a Superfund site, holding that no policy exclusions apply to bar coverage.

  • July 7, 2017

    Nationwide Stuck With $8M Bad Faith Award, 11th Circ. Says

    The Eleventh Circuit on Friday refused to let Nationwide off the hook for an $8 million award over the insurer's failure to settle claims against a policyholder who was hit with a massive judgment in litigation regarding a fatal car crash, finding that a lower court didn't err in its pretrial rulings or jury instructions.

  • July 7, 2017

    Justices Told Case Complexity Led To Dismissal, Sanction

    A New York attorney who was sanctioned with the dismissal of a False Claims Act suit against Allstate Insurance Co., FedEx Corp. and dozens of other companies has taken his case to the U.S. Supreme Court, arguing that a magistrate may have been more concerned about workload than pleading deficiencies.

  • July 7, 2017

    Dickstein Atty Coverage Row Doesn't Belong In DC, Court Told

    A Lloyd's of London underwriter facing a claim over a $64 million malpractice award against an attorney from now-defunct Dickstein Shapiro LLP can't defend itself in D.C. court, Mahattan Beachwear LLC, which owns the claim, told the D.C. Circuit on Thursday, because MBW has no ties to the district.

  • July 7, 2017

    8th Circ. Won't Revisit 3M's Ponzi Coverage Loss

    The Eighth Circuit denied a rehearing bid by 3M over Ponzi scheme investment losses on Friday, ignoring 3M's protests that the appeals court essentially interpreted extraneous language into an insurance policy.

  • July 7, 2017

    MF Global Insurer Fights Default Bid Over $15M Bond Payment

    Defunct brokerage MF Global's excess insurer Allied World on Thursday hit back at MF Global’s request for a New York bankruptcy court to strike Allied World’s $15 million bond, which a judge had required before the court could consider the insurer's request to arbitrate a coverage dispute in Bermuda.

  • July 7, 2017

    Fla. Judge Rejects $3.5M Deal In Insurer Fax Ad Row

    A Florida federal judge declined Thursday to give his initial approval to a revised deal that would see Banner Life Insurance Co. and two others fork over $3.5 million to resolve litigation over junk faxes, expressing concern about several aspects of the settlement, including a request to expand the class.

  • July 6, 2017

    Pea Recall Coverage Battle Must Stay In Wash., Court Told

    National Frozen Foods Corp. asked a Washington federal judge on Wednesday to reject a W.R. Berkley Corp. unit's bid to dismiss or transfer its lawsuit seeking insurance coverage for $3.5 million in damages it says it sustained in a massive recall of frozen peas, asserting that a policy provision requiring disputes to be heard in New York is void.

  • July 6, 2017

    Simpson Thacher Guides Axis' $604M Novae Buy

    Insurance company Axis Capital Holdings Ltd. will pay $604 million to acquire London-based specialty insurer Novae Group PLC in an all-cash deal, the companies announced Wednesday, with a team from Simpson Thacher & Bartlett LLP advising the buyer.

  • July 6, 2017

    AARP Says EEOC Never Explained Wellness Rule Penalties

    The U.S. Equal Employment Opportunity Commission cannot simply pluck numbers from the air when allowing for higher premiums for workers who don’t participate in wellness programs, AARP Inc. told a D.C. federal judge in oral arguments Thursday.

  • July 6, 2017

    Capitol Bancorp Trustee Asks 6th Circ. To Rethink D&O Loss

    The liquidation trustee for bankrupt Capitol Bancorp on Wednesday urged the Sixth Circuit to revisit its decision that Indian Harbor Insurance Co. doesn't have to cover claims in an $18.8 million suit against the bank's former officers, asserting that the appeals court's holding is contrary to precedent and upsets established bankruptcy law.

  • July 6, 2017

    MetLife Ditches Midco Claims Of 401(k) Contract Breach

    An Illinois federal judge on Wednesday found Metropolitan Life Insurance Co. did not breach its contract when it transferred the assets of a retirement plan to a third party without notice, saying nothing in the contract barred MetLife from selling the company’s 401(k) fund.

  • July 6, 2017

    Thrivent Seeks Win After DOL Abandons Class Action Rule

    A financial services group that has sued to block part of the U.S. Department of Labor’s fiduciary rule asked a Minnesota federal judge on Wednesday to give it a quick win after the regulator said in a related case that it would no longer defend the rule’s ban on class action waivers.

  • July 6, 2017

    Deals Rumor Mill: SoftBank, Siam Commercial, POSCO

    SoftBank Group hopes to raise up to $5 billion through a U.S. bond sale, Siam Commercial has put on hold plans to sell its life insurance business, and South Korean metals company POSCO is selling a stake in KB Financial Group.

  • July 6, 2017

    8th Circ. Won't Rehear Sex Reassignment Surgery Denial Suit

    The Eighth Circuit on Thursday declined to rehear a Minnesota nurse’s claim that the Minnesota Human Rights Act blocked employer Essentia Health from refusing to cover her son’s sex reassignment surgery, letting lie a May panel decision dismissing most of her suit.

  • July 6, 2017

    Insurer Gets Pause On Bid For $5M To Assess Brazilian Suit

    A New York federal judge on Wednesday temporarily declined to rule on National Indemnity Co.’s contention that an arbitration award requires a reinsurer to cover a $5 million settlement with a steel maker, giving NICO time to analyze claims it just learned the reinsurer leveled against it in Brazilian court.

  • July 5, 2017

    Justice Stevens On Gorsuch And Sticking With The Cubs

    Justice John Paul Stevens discusses Justice Neil Gorsuch, the pitfalls of originalism, and his beloved Chicago Cubs, in the second article based on Law360’s exclusive interview with the legendary jurist.

  • July 5, 2017

    11th Circ. Keeps Bank's Insurers Off Hook For $50M Judgment

    An Eleventh Circuit panel on Wednesday affirmed a Florida federal court’s ruling that the insurers for a bank accused of enabling a Rothstein Rosenfeldt Adler PA partner’s $1.2 billion Ponzi scheme won’t have to cover a $50 million judgment that the bank consented to with the liquidating trustees of the law firm.

Expert Analysis

  • Why The Corrosion Exclusion Remains Strong: Part 1

    Philip Silverberg

    Policyholders and their counsel often see a coverage declination under a corrosion exclusion as an invitation to argue that some other cause was responsible for a loss even when corrosion plays a central role. However, many courts have rejected such attempts to read a corrosion exclusion out of its policy, say attorneys with Mound Cotton Wollan & Greengrass LLP.

  • Opinion

    Justice Kennedy's Moderating Influence On The High Court

    Nan Aron

    The guessing game around Justice Anthony Kennedy’s possible retirement is reaching a crescendo. Yet the speculation does more than fuel bookmakers’ odds. It draws attention to his pivotal role as the court’s swing vote, says Nan Aron, president of Alliance for Justice.

  • A Resurgence Of Synthetic Securitizations

    Daniel Budofsky

    After a major market contraction in the wake of the financial crisis, risk-pooling transactions show signs of gaining favor once more, says Daniel Budofsky of Pillsbury Winthrop Shaw Pittman LLP.

  • 7th Circ. Hospital Ruling Provides Exclusive-Dealing Lessons

    Steven Cernak

    Antitrust courts will take a close look at a series of exclusive agreements entered into by a company with an arguably high market share. However, as shown by the district court and Seventh Circuit decisions in the recent Illinois hospitals case, the evaluation will look beyond the words in the agreement to analyze their effect, if any, on competition and the competitive process, says Steven Cernak of Schiff Hardin LLP.

  • Tax Deductibility And Statutory Damages — A Waiting Trap

    Peter Robbins

    Statutory damages guarantee a minimum recovery in each individual case where a violation may cause only nominal damage. But aggregated statutory damages in class actions can create a risk of staggeringly large awards, which may not be tax-deductible. Companies must know the law and take steps to minimize tax consequences, says Peter Robbins of Corbett & Robbins LLP.

  • Weekly Column

    Innovating For Wise Juries: Juror-Posed Questions

    Roy Futterman

    One way to combat juror confusion and boredom is to allow jurors to ask witnesses questions. No federal evidentiary or court rule prohibits it, and every federal circuit court to address the practice has held it permissible, say Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman of the NYU School of Law Civil Jury Project.

  • How Insurtechs Maximize Profits And Competitive Advantage

    Heidi Lawson

    Although enthusiasm abounds, proliferation in the insurtech industry has been slowed by a rusty set of insurance regulations administered on a state-by-state basis. Insurtechs must do their best to navigate these challenges, but there is hope that regulatory change favorable to insurance innovation is on its way, says Heidi Lawson of Mintz Levin Cohn Ferris Glovsky and Popeo PC.

  • The Evolution Of Opioid Suits And Insurance Coverage

    Adam Fleischer

    In the midst of the worst drug crisis in American history, two key developments this month may have far-reaching impacts on both the underlying liability claims as well as the insurers to whom the defendants are looking to finance hundreds of millions of dollars in exposure, says Adam Fleischer of BatesCarey LLP.

  • Examining State Law Claims Under ERISA At 2nd Circ.

    Caroline Turner English

    The Second Circuit's recent decision in McCulloch Orthopaedic Surgical Services v. Aetna has important positive implications for medical providers seeking to assert state law claims against health care payers governed by the Employee Retirement Income Security Act and their third-party administrators, say attorneys with Arent Fox LLP.

  • The Challenges Of Insurance Arbitration In Foreign Forums

    Luke Debevec

    Differences in law, practice and procedure between the U.S. and U.K. legal systems require policyholders and their captives to carefully consider the applicable law and forum for resolving disputes before entering into an insurance or reinsurance policy or contract containing an international arbitration agreement, say attorneys with Reed Smith LLP.