Insurance

  • November 6, 2014

    Del. Justices Nix Insurer Injunction Bid In Mine Safety Row

    The Delaware Supreme Court on Thursday refused to revive North River Insurance Co.'s bid to stop Mine Safety Appliances Co. from assigning policy proceeds to personal injury claimants in West Virginia cases, ruling the Chancery Court had committed no error.

  • November 6, 2014

    Ex-AIG Chief Claims He Was Unaware Of Last-Minute Lifelines

    Former American International Group Inc. CEO Robert Willumstad had been kept in the dark by the federal government about two substantial private offers to provide funding to the company the same day as its 2008 bailout offer, he testified Thursday at trial over the allegedly unlawful terms of the deal.

  • November 6, 2014

    Deals Rumor Mill: Citgo, Continental, GTCR

    Citgo Petroleum's Texas assets have received a ton of interest from oil companies of late, while Continental AG may have to sell off a unit of Veyance Technologies in order to ease regulatory authority concerns over its planned $1.75 billion purchase of the company.

  • November 6, 2014

    Expect Another House Vote To Repeal ACA, Boehner Says

    In his first post-election press conference on Thursday, House Speaker John Boehner, R-Ohio, said he expects the House will vote to repeal the Affordable Care Act in its entirety again next year and that lawmakers would also look at other approaches to chip away at the health care reform law.

  • November 6, 2014

    National Union Gets Bad Faith Counterclaims Nixed

    A Virginia federal judge has tossed bad faith counterclaims against National Union Fire Insurance Co. of Pittsburgh PA in a coverage dispute over a boat collision, saying Virginia law governs the claims and doesn’t recognize a right of action for bad faith.

  • November 6, 2014

    Fate Of Detroit Ch. 9 Plan Turns On Fairness And Feasibility

    U.S. Bankruptcy Judge Steven Rhodes will decide Friday if Detroit can leave bankruptcy protection under a largely uncontested Chapter 9 plan that hinges on the city's ability to restore public services and justify paying pensioners more than financial creditors.

  • November 6, 2014

    NY Nissan Dealership Says Tower Is Ducking Sandy Coverage

    A Nissan dealership has asked a New York state judge to toss Tower National Insurance Co.’s counterclaims in a dispute over losses sustained following Superstorm Sandy, arguing that Tower is trying to circumvent an earlier ruling saying a flood exclusion can’t be used to deny business interruption coverage.

  • November 6, 2014

    San Bernardino Fights Creditors’ Ch. 9 Deadline Bid

    The city of San Bernardino, California, urged a federal bankruptcy judge Thursday not to set an arbitrary end date for its Chapter 9 plan negotiations, saying it would be meaningless to set the deadline, requested by a bank and an insurer, when employees and other creditors were not yet on board.

  • November 5, 2014

    Costco Insurer Says Yokohama Must Pay $4M For Crash

    Costco Wholesale Corp.'s insurer urged a California appellate panel to revive claims that Yokohama Tire Corp. must cover $4.3 million the insurer paid to settle a lawsuit over a crash allegedly caused by a defective tire, saying Wednesday that a judge improperly limited expert testimony.

  • November 5, 2014

    Mo.'s Same-Sex Marriage Ban Ruled Unconstitutional

    A Missouri state judge ruled that the state’s ban on same-sex marriage is unconstitutional, opening the gates for state officials to issue marriage licenses on Wednesday afternoon.

  • November 5, 2014

    Class Cert. Unclear For MetLife Investors In $216M Ponzi Loss

    A California judge on Wednesday questioned whether investors who claim Metropolitan Life Insurance Co. persuaded them to purchase unregistered securities from an alleged $216 million Ponzi scheme have enough in common for class treatment, asking for more briefing on what shared issues could go to trial.

  • November 5, 2014

    9th Circ. Says Physical Therapy Clinic Can Sue Health Plans

    The Ninth Circuit on Wednesday remanded Spinedex Physical Therapy USA Inc.'s proposed class action accusing UnitedHealth Group Inc. and a litany of employee welfare benefit plans of violating federal labor law by denying payment on patients' claims, saying the clinic had standing to sue because the plan beneficiaries had assigned them their rights.

  • November 5, 2014

    Fed Bailout Was Only Option For AIG, Ex-CEO Says

    Former American International Group Inc. CEO Robert Willumstad said Wednesday that the troubled insurance giant had no choice but to accept the New York Federal Reserve's bailout terms in September 2008, because it was unable to raise any private capital on its own.

  • November 5, 2014

    9 Votes On Health Ballot Measures You Might Have Missed

    Voters on Tuesday decided high-stakes ballot measures across the country, delivering big wins for health insurers fighting rate review, doctors wary of greater legal liability and hospitals desperate for more Medicaid money. Here's a look at results for nine key initiatives affecting the health care industry.

  • November 5, 2014

    Fla. Man Seeks End To Workers' Comp Attys' Fee Formula

    A Florida worker on Wednesday asked the state's highest court to overturn a statutory limitation on prevailing-party attorneys' fees in workers' compensation cases, which he said is unconstitutional and limits access to the courts.

  • November 5, 2014

    Ace Needn't Cover Contractor In Well Blowout Suit, Judge Says

    A Texas federal judge found Wednesday that Ace American Insurance Co. wasn't responsible for defending a contractor from an oil and gas company's suit blaming it for a well blowout, saying the claim was barred because it fell under the policy's professional services exclusion.

  • November 5, 2014

    Aetna Seeks Sanctions After $8.4M ER Billing Fraud Win

    Aetna Life Insurance Co. on Wednesday demanded sanctions against one of three health care providers it recently won an $8.4 million judgment against for a billing fraud conspiracy, telling a Texas federal judge that the defendant is interfering with the insurer’s business through false accusations of self-dealing.

  • November 5, 2014

    St. Luke's Sues Insurer Over Coverage For FTC Antitrust Suit

    St. Luke's Health System Ltd. sued Allied World National Assurance Co. in Idaho federal court Tuesday, saying the insurer improperly rescinded coverage for the hospital's Ninth Circuit appeal of a Federal Trade Commission antitrust suit challenging its acquisition of a nearby physician practice group.

  • November 4, 2014

    Calif. Voters Reject Higher Medical Malpractice Cap

    California voters on Tuesday rejected a measure that would have raised the cap for medical malpractice damages to $1 million from $250,000 and subjected doctors to drug tests, ending a campaign that had been characterized as pitting doctors against lawyers.

  • November 4, 2014

    Republican Win Opens Door To Dodd-Frank Rewrites

    For four years, Republicans have sought to pick apart President Barack Obama’s signature financial reform law without much success. Now that they control Congress, experts say Republicans have a real chance to make some meaningful changes to the Dodd-Frank Act. Here, Law360 looks at parts of the law that could undergo change.