Insurance

  • October 21, 2014

    Detroit Ch. 9 Judge Wants Specifics On Settlements, Exit Plan

    The judge presiding over Detroit’s bankruptcy case indicated Tuesday that he wants the city to delve into specifics of its settlements with creditors and its exit financing plan during closing arguments next week in the confirmation trial for its plan to erase more than $7 billion in debt and reinvest in essential services.

  • October 21, 2014

    Papa John’s, AIG Affiliates Settle Text Spam Coverage Suit

    Papa John’s International Inc. on Monday dropped its Sixth Circuit appeal of a decision freeing a pair of American International Group Inc. affiliates from paying defense costs in two class actions accusing the pizza giant of spamming consumers with text messages.

  • October 21, 2014

    ‘Consent-To-Settle’ Insurance Issue Sent To Ga. High Court

    The Eleventh Circuit asked Georgia’s high court on Tuesday for help resolving a real estate trust’s appeal claiming XL Specialty Insurance Co. must pay a $4.9 million shareholder-suit settlement, including a key question involving “consent to settle” clauses in insurance agreements.

  • October 21, 2014

    Senate Shake-Up Would Breathe New Life Into ACA Battles

    An increasingly likely Republican takeover of the U.S. Senate in next month's midterm elections would almost certainly lead to new showdowns over controversial Affordable Care Act provisions, such as the employer mandate and the medical device tax, as incoming senators try to turn campaign rhetoric into reality.

  • October 21, 2014

    Conn. High Court Says Insurer's Breach Doesn't Nix Suit

    The Connecticut Supreme Court ruled Tuesday that an insurer's breach of its duty to defend a medical malpractice suit before going insolvent does not halt the Connecticut Insurance Guaranty Association from suing over its coverage obligations, upholding a lower court's ruling. 

  • October 21, 2014

    Highmark Loses Bid To Ax Pa.'s Challenge To Medicare Plan

    A federal judge ruled Tuesday that he could not intervene to stop Pennsylvania officials from pursuing litigation in state court aimed at blocking Highmark Inc. from offering a Medicare Advantage plan that allegedly violates an agreement defining the insurer’s relationship with University of Pittsburgh Medical Center.

  • October 21, 2014

    DLA Piper Preps Health Care Exchange Software Co.'s IPO

    Connecture Inc., a software developer for health insurance exchanges, launched plans Tuesday for an initial public offering aided by DLA Piper, betting on its ability to meet the growing need for efficient and user-friendly software for public and private exchanges as the U.S. health care system continues to evolve.

  • October 21, 2014

    10th Circ. Lets Insurers Bow Out Of Pollution Exclusion Row

    The Tenth Circuit on Monday affirmed a lower court's decision that Ace American Insurance Co. and Zurich American Insurance Co. did not wrongfully deny Headwaters Resources Inc. coverage in product liability and pollution suits, saying that the policies clearly contained pollution exclusions.

  • October 21, 2014

    Anderson Kill Dodges $10M Malpractice Suit Over Insurer Row

    A New York judge on Tuesday threw out a health care company’s legal malpractice action that claims Anderson Kill PC botched an employment insurance coverage case, saying the plaintiff hasn't properly alleged that the firm was liable for $10 million in insurance losses.

  • October 21, 2014

    CORRECTED: OneBeacon Hit With $34M Verdict Over Dish Malpractice Case

    A Texas federal jury on Friday issued a $34 million verdict in favor of law firm T. Wade Welch & Associates to conclude a trial over whether OneBeacon Insurance Group Ltd. had to indemnify the firm against malpractice claims that its former client Dish Network Corp. brought after being sanctioned in antitrust litigation. Correction: An earlier version of the story incorrectly reported the amount of the verdict. The error has been corrected.

  • October 20, 2014

    CVS Developing Tobacco-Free Pharmacy Benefit Network

    CVS Health said Monday it was developing a new network of tobacco-free pharmacies, a move that has implications for employer benefit plans and that reportedly will require some consumers to pay additional copays to fill prescriptions at pharmacies that continue to sell cigarettes.

  • October 20, 2014

    With Lessons Learned, FHFA Lets Mortgage Giants Ease Credit

    The Federal Housing Finance Agency's plan to boost mortgage lending by allowing Fannie Mae and Freddie Mac to purchase loans with 3 percent down payments may stir housing bubble memories, but experts say better underwriting standards and other protections should prevent the worst subprime lending practices from returning.

  • October 20, 2014

    High Court Denies Blue Cross' Appeal In Hidden Fee Case

    The U.S. Supreme Court on Monday declined to hear Blue Cross Blue Shield of Michigan's appeal of a $5.1 million judgment against the insurer over allegations it charged an auto supplier hidden fees while administering its health plan, allowing a host of similar lawsuits to go forward, according to plaintiffs' firm Varnum LLP.

  • October 20, 2014

    Harbinger Battles For $50M Discount On OM Group Sale

    Harbinger Group Inc. locked horns with OM Group (UK) Ltd. over a $350 million insurance acquisition's terms Monday, with Harbinger claiming the London seller had no plan to cope with skeptical Maryland regulators and with OM insisting Harbinger seized on a regulatory stumble to unlawfully demand a $50 million price break.

  • October 20, 2014

    Chiropractors Can't Keep Excess Medicare Pay, Humana Says

    Humana Inc. is attacking a proposed class action in Ohio federal court accusing it of improperly recouping Medicare Advantage overpayments from chiropractors, saying the lawsuit clearly misreads federal law and would undermine anti-fraud efforts.

  • October 20, 2014

    2nd Circ. Denies Seneca's Bid For Reinsurer Reimbursement

    The Second Circuit has refused to overturn a lower court’s finding that Seneca Insurance Co. can’t claim reinsurance from Everest Reinsurance Co. in a wrongful termination suit, finding “no merit” in Seneca’s arguments that prejudgment interest should be considered part of its loss.

  • October 20, 2014

    2 More HCA Hospitals Added To Fla. PIP Coverage Class Suit

    A putative class action pending in Florida federal court against HCA Holdings Inc. for alleged overcharging of patients' personal insurance protection at one of its Florida hospitals has been expanded to include two additional facilities in the state.

  • October 20, 2014

    Detroit Could See Decision On Ch. 9 Exit Within Weeks

    The judge presiding over Detroit’s bankruptcy case said Monday that the city will likely find out in less than three weeks if it can exit the largest Chapter 9 in history under a plan that would erase more than $7 billion in debt and reinvest in essential services to reverse a half-century of civic decline.

  • October 20, 2014

    Aussie Insurer Medibank's IPO Could Reach $4.8B

    The initial public offering for Australian state-owned health insurer Medibank Private is expected to be worth AU$4.3 billion to AU$5.5 billion (US$3.7 billion to US$4.8 billion), making it one of the top 100 companies on the Australian Securities Exchange and a potential magnet for foreign investors, the government said Monday.

  • October 20, 2014

    Judge Sets Cleanup Cost Formula For Long Island Gas Plants

    A New York state judge has ruled that Century Indemnity Co. must use a pro rata allocation formula to determine cleanup costs for polluted manufactured gas plant sites on Long Island, New York, in a 17-year-old dispute pitting Century and others against current policyholder KeySpan Corp.