A New York appeals court dealt some policyholders a blow last week when it applied the U.S. Supreme Court's Kokesh decision to declare that a $140 million chunk of Bear Stearns' settlement with the U.S. Securities and Exchange Commission is a penalty and therefore not covered by insurance, a ruling that throws into doubt the availability of coverage for SEC-ordered disgorgement payments.
The Federal Communications Commission on Wednesday hit two telemarketers with $120 million in fines and proposed penalties for "spoofing" or manipulating caller ID information to make sales calls harder to track.
The U.S. government’s bankruptcy case monitor is challenging the proposed selection of a trustee to represent asbestos exposure victims who may in the future file claims against sheet metal equipment and accessories manufacturer Duro Dyne Corp., saying Wednesday that the candidate has apparent conflicts of interest.
Aegon NV will boost its capital reserves by $1 billion and strengthen its position under Europe’s Solvency II directive after it merges two units in the U.S., the Dutch insurance giant has said.
Aetna Life Insurance Co. must face a suit accusing it of wrongly denying long-term disability benefits to a former executive at Four Seasons Solar Products LLC after a New York federal judge rejected two requests to wrap up the case early on Tuesday.
A split Eleventh Circuit has affirmed the dismissal of homeowner class litigation over force-placed insurance, saying the litigation violated a doctrine that prohibits challenges to regulator-approved rates.
The Second Circuit on Tuesday reversed an order requiring reinsurer Clearwater Insurance Co. to shell out $6.9 million to help Utica Mutual Insurance Co. defray the cost of asbestos-related claims against a pump manufacturer, directing a lower court to assess whether Clearwater is obligated to pay for such claims and, if so, how much.
An Illinois chiropractor who was imprisoned after pleading guilty to insurance fraud has sued the lawyers who represented him through the government's investigation and prosecution, saying they ruined his chance to avoid prison time and failed to wipe his uninformed plea from the books.
A New Jersey federal judge on Monday refused to toss an orthopedic surgeon's lawsuit over Aetna Inc.'s failure to reimburse him for a patient's $209,000 procedure, ruling that the state law claims in the suit aren't preempted by the federal Employee Retirement Income Security Act.
A D.C federal judge on Tuesday threw out several counterclaims by a surety company against a Chicago-area contractor in a dispute over payment of a bond associated with work on a D.C. hotel project, but kept intact others concerning a subcontract linked to the bond.
A subsidiary of New York Life Insurance Co. has loaned $135 million for a residential and retail property in New Jersey, according to an announcement on Tuesday from New York Life.
Pennsylvania and 16 other states threw their support behind Massachusetts' First Circuit bid to revive its challenge to Trump administration rules exempting employers with moral or religious objections from providing birth control coverage under the Affordable Care Act.
A federal judge threw out a proposed class action brought against Regence BlueShield and Cambia Health Solutions for allegedly failing to pick up the tab for hearing loss treatment outside of cochlear implants, ruling the coverage exclusion didn't amount to disability discrimination.
A divided Florida Supreme Court's recent decision reinstating a $9.2 million verdict against Geico over its handling of a fatal car crash claim strengthens policyholders' hand in bad faith cases by emphasizing that an insurer cannot escape liability by merely arguing it had complied with a "checklist" of obligations to its insured.
An insurer sued an engineering firm on Monday in Colorado federal court seeking a ruling that it does not have to provide coverage or defend the company in regard to four lawsuits over the deadly collapse in March of a pedestrian bridge it worked on near Miami.
A New Jersey federal judge granted Prudential Insurance Co. of America a quick win in a suit over its denial of long-term disability benefits to a former employee, holding that the insurer hadn’t unreasonably stopped the benefits because of a 24-month limitation for disabilities stemming from mental illness.
An Illinois federal judge on Monday ordered a private equity firm to face an insurer's fraud suit over a $100 million deal to buy an auto insurance network, saying the insurer sufficiently pled the firm hid its insurance underwriter's economic vulnerability before the transaction closed.
A former employee of an Oklahoma insurance company said Monday that the firm's attempt to secure a restraining order from the Delaware Chancery Court to enforce the restrictive covenants of his employment agreement were unwarranted because he hadn't breached the deal.
A Hampton Inn owner is on the hook for nearly $1 million in repair costs after an Illinois federal judge ruled Monday that extensive water damage on the property isn’t covered by its insurance policy.
Just days after California regulators accused AbbVie Inc. of engaging in a massive kickback scheme that tainted $1.3 billion in insurance claims for its blockbuster immunosuppressant Humira, investors followed up with a potential class action accusing the drugmaker of defrauding them as well.
The past two years have seen insurance coverage lawyers coming to terms with the impact of two landscape-changing decisions from New York's highest court, Viking Pump and Keyspan. Together, these cases make clear that under New York law, the allocation approach that will apply to long tail claims is governed by the presence of certain policy language, say Cort Malone and Vivian Michael of Anderson Kill PC.
During the past year, I have been tossed headfirst into the murky water of autonomous vehicle contract drafting, where no well-tested forms exist and negotiating parties often do not know what terms to request. But what is required more than anything is just old-fashioned, common-sense business lawyering, says Jim Jordan of Munsch Hardt Kopf & Harr PC.
Across the country this fall, recent law school graduates, law firm associates and experienced professionals will interview for positions in private practice and government service. Sharing tips on how to stand out in this high-pressure, hypercompetitive process are Eileen Decker, former U.S. attorney for the Central District of California, and Keith Jacoby, co-chairman of Littler Mendelson PC’s class action practice group.
With memories of the Great Recession still fresh, fears that the auto loan securitization market is headed for a crash similar to the ill-fated residential mortgage backed securities market are on the rise. Albert Fowerbaugh and Julie Rodriguez Aldort of Butler Rubin Saltarelli & Boyd LLP consider the types of claims that various participants might assert if the market veers off course.
Justice Ruth Bader Ginsburg joined the U.S. Supreme Court 25 years ago and is not planning to retire anytime soon — she has hired clerks through 2020. What's it like to assist Justice Ginsburg? In this series, former clerks reflect on the experience.
On July 24, a Ninth Circuit panel applied textualist reasoning in Young v. Hawaii to secure a right for individuals to carry firearms in public. To end the gun epidemic — demonstrated in Chicago recently with 74 people shot in one weekend — it’s past time to turn a spotlight on the root cause: legal carelessness and oversights of text, says Robert W. Ludwig of the American Enlightenment Project.
It had never occurred to me that judges don’t always love the way their appellate cousins review their work and tell them — in public — all the things they got wrong. I was frequently struck by Justice Ruth Bader Ginsburg’s acute awareness of the delicacy of this relationship, says attorney David Post.
If you began complying with the New York Department of Financial Services requirements last year, your cybersecurity program is already in place, which should streamline compliance for the next deadline. The controls required to be in place by Sept. 1, 2018, cover five areas, says Richard Naylor of Murphy & McGonigle PC.
President Donald Trump signed an executive order on Aug. 6 formally re-imposing certain sanctions with respect to Iran. Given the administration’s rapidly shifting approach to international trade and national security issues, businesses should plan for the worst — while continuing to advocate for a more pragmatic approach, say attorneys with Dechert LLP.
On July 30, Ohio Governor John Kasich took the unprecedented step of signing into law an amendment that specifically rejects the American Law Institute's Restatement of the Law, Liability Insurance. Red flags about the ALI's over-reaching have been waving for years, and the only question is what state will follow suit next, says Kim Marrkand of Mintz Levin Cohn Ferris Glovsky and Popeo PC.