Insurance

  • April 8, 2015

    Arbitrator Exceeded Authority In Contract Row, 5th Circ. Says

    The Fifth Circuit on Tuesday found that an arbitrator exceeded his authority in a dispute between Capstone Associated Services Ltd. and Organizational Strategies Inc. over the termination of contracts relating to the formation of captive insurance companies, affirming a lower court's ruling vacating an arbitration award in Capstone's favor.

  • April 8, 2015

    Real Estate Rumor Mill: Google, Ping An Insurance, Workday

    Google has reportedly leased space in Portland, Oregon, while Ping An Insurance and China Life Insurance are said to have invested in a majority of a $500 million Boston project and Workday has reportedly leased space in the Empire State Building.

  • April 8, 2015

    AIG Scores Green Light From FAA To Use Drones

    Mega-insurer American International Group Inc. has won approval from the U.S. Federal Aviation Administration to use small unmanned aerial vehicles known as drones for insurance operations across the U.S., the company said Wednesday.

  • April 8, 2015

    Travelers Sues KB Home Over Construction Row Defense

    Travelers Indemnity Co. of Connecticut hit two KB Home subsidiaries with a suit in California federal court Tuesday, seeking to control choice of counsel in an underlying row over allegedly shoddy construction work.

  • April 8, 2015

    Allianz Wins Partial Reversal In Contamination Coverage Row

    An Illinois appeals court on Tuesday affirmed that Allianz Underwriters Insurance Co. breached its duty to defend Sinclair Oil Corp. against property damage claims arising out of alleged soil and groundwater contamination, but flipped a lower court's finding that Allianz breached its duty with respect to underlying bodily injury claims.

  • April 8, 2015

    UnitedHealth Behavioral Unit Can't Duck ERISA Claims

    A California federal magistrate on Tuesday ruled that a UnitedHealth Group Inc. unit can't ditch a proposed class action alleging it denied mental health and substance abuse outpatient treatment to beneficiaries of an employer-sponsored health plan in violation of the Employee Retirement Income Security Act.

  • April 8, 2015

    SEC Denied Judgment Against Alleged Receiver Of Inside Info

    A Pennsylvania federal judge Wednesday ruled that a former Ameriprise Financial Services Inc. adviser — who has already been convicted of insider trading — was responsible for tipping a friend off to the impending acquisition of an insurance company, but he said the Securities and Exchange Commission's claims against the friend would be resolved at a trial.

  • April 8, 2015

    1st Circ. Told PR Won't Drop Marriage Ban Despite Promise

    Advocates asking the First Circuit to speed up its review of Puerto Rico’s same sex marriage ban argued that the island’s government continues to enforce the ban despite recognizing that the law is discriminatory and unconstitutional.

  • April 8, 2015

    Hinshaw & Culbertson Adds Insurance Pro In NY Office

    Hinshaw & Culbertson LLP announced on Wednesday that it has hired the former chief legal officer from QBE North America Inc. to strengthen the insurance practice at its New York office, with an emphasis on transactional and regulatory matters.

  • April 7, 2015

    Split Ruling On Vacancy Exclusion Burns Insurers

    A California appeals court's recent ruling that a fire set by a transient in a vacant house isn't vandalism constricts the application of the vacancy exclusion found in some property policies and potentially puts insurers on the hook for more risk than they bargained for, according to attorneys.

  • April 7, 2015

    National Union Escapes Tesoro's $15M Theft Coverage Suit

    A Texas federal judge on Tuesday tossed a Tesoro Corp. unit's $15 million suit alleging National Union Fire Insurance Co. of Pittsburgh, Pa., wrongfully denied coverage under a commercial crime policy, saying a Tesoro employee who forged letters of credit for fuel did not commit theft as the policy requires.

  • April 7, 2015

    Korean Insurer Wants $30M UBS Fraud Suit Back In NY

    A Korean Insurer on Tuesday urged a New York appeals court to breathe new life into a $30 million lawsuit claiming UBS AG misrepresented the quality of two complex investment vehicles, saying a lower court wrongly found the case doesn’t belong in New York.

  • April 7, 2015

    Calif. Democrats Unveil Bills To Protect Immigrants

    A group of Democratic California lawmakers Tuesday unveiled a 10-bill package aimed at protecting undocumented immigrants from fraud, discrimination, lack of health care and the unintended consequences of the criminal justice system, with Speaker of the Assembly Toni G. Atkins saying it represents “practical, humane and forward-thinking leadership.”

  • April 7, 2015

    SEC Says Insurance Co. Fraudulently Sold Life Settlements

    The Securities and Exchange Commission in California federal court Tuesday sued a Los Angeles-based insurance company and its owner for allegedly defrauding investors in the sale of fractionalized interests in universal life insurance policies, known as “life settlements.”

  • April 7, 2015

    Hogan Lovells Booted From Naval Shipyard Cleanup Row

    Hogan Lovells can’t represent Steadfast Insurance Co. in a dispute over environmental cleanup costs at a former naval shipyard because it also represents the parent company of another party targeted by Steadfast’s counterclaims in the case, a California federal judge ruled Tuesday.

  • April 7, 2015

    Judge Rips Feds' Doc Dump In $189M Wells Fargo Suit

    A Manhattan federal judge on Tuesday blasted prosecutors for dumping millions of documents on Wells Fargo Bank NA in a contentious $189 million mortgage insurance suit, saying the documents hit too close to discovery deadlines for the bank to effectively review them.

  • April 7, 2015

    11th Circ. Rejects Insurer's 'Trigger' Claim In Coverage Suit

    Mid-Continent Casualty Co. was obligated to defend a contractor against homeowners’ defective work claims because Florida courts hadn’t yet determined which trigger to use in deciding whether property damage occurred during a policy period, the Eleventh Circuit ruled Tuesday. 

  • April 7, 2015

    LAX Contractors Call AIG Unit's Arbitration Clause Illegal

    Lexington Insurance Co. can’t force contractors accused of botching a $250 million project at Los Angeles International Airport to arbitrate their claims seeking coverage from the insurer against the city’s allegations because Lexington’s arbitration clause is illegal, the contractors told a California federal judge Monday.

  • April 7, 2015

    Aetna Fined $1M Over Pharmacy Network Errors

    The Centers for Medicare and Medicaid Services has slapped Aetna Inc. with a $1 million penalty for misleading thousands of consumers about pharmacy networks, a mishap that helped the insurance giant rack up one of the highest complaint rates this year in Medicare Advantage and Part D, according to recent correspondence.

  • April 7, 2015

    Zurich Freed From Malpractice Suit Defense

    A New York appeals court ruled on Tuesday that a Zurich Insurance Co. unit doesn’t have to defend now-defunct law firm Lee & Amtzis LLP in an underlying malpractice suit over multiple loan and real estate transactions, as those claims arose from the firm’s outside business.