Insurance

  • April 18, 2014

    The 25 Best Law Firms For Female Partners

    Bucking a nationwide trend among law firms of subpar female representation at the partner level, Law360's inaugural class of Ceiling Smashers have shown a commitment to gender equality.

  • April 18, 2014

    Barnes & Thornburg Nabs Akin Gump Appellate Pro

    Barnes & Thornburg LLP announced Thursday that it had picked up an appellate and trial lawyer from Akin Gump Strauss Hauer & Feld LLP who handles intellectual property, bankruptcy, insurance, white collar and labor matters to enhance its litigation department in Los Angeles.

  • April 18, 2014

    Evanston Insurance Denies Coverage For $5M RE Scheme

    Evanston Insurance Co. filed suit on Thursday in Virginia federal court alleging it has no duty to defend a title company in an underlying suit claiming its agents misappropriated more than $5 million in escrow funds as part of a real estate scheme.

  • April 18, 2014

    Insurers Not Liable For Sports Co.'s $3M Noncompete Row

    A New York appeals court on Thursday freed two insurers from footing a $3.2 million judgment against a sports equipment company accused of lifting trade secrets after luring a competitor's employee, finding the policies did not cover violations of a corporation's privacy rights.

  • April 18, 2014

    Ex-Mutual Benefits Atty Will Appeal 10-Year Prison Term

    A former outside counsel for Mutual Benefits Corp. filed a notice in Florida federal court Thursday of his intention to appeal a 10-year sentence he received for his role in the company's $837 million insurance investment scam.

  • April 18, 2014

    Ariz. Close To Strengthening Captive Insurer Regs

    A bill sent Thursday to Arizona Gov. Jan Brewer would strengthen state standards for captive insurers by requiring insurance subsidiaries to disclose more information regarding their financial relationships to their affiliated companies and provide regulators with additional tools to oversee potentially problematic tax structures.

  • April 18, 2014

    Liberty Mutual Can't Duck Dissolved Co.'s Asbestos Claims

    A New York appeals court on Thursday affirmed a ruling refusing Liberty Mutual Insurance Co.’s attempt to dismiss asbestos injury suits against a now-dissolved New Jersey valve manufacturer, ruling that corporations that have been dissolved can still be sued under New Jersey law. 

  • April 18, 2014

    Female Powerbrokers Q&A: Nicolaides' Monica Sullivan

    While times are changing as more women become the important firm clients, business is still done on the golf course, often to the exclusion of women, says Monica Sullivan, a founding partner at Nicolaides Fink Thorpe Michaelides Sullivan LLP.

  • April 18, 2014

    Female Powerbrokers Q&A: Sutherland's Cynthia Shoss

    One hiring partner — with his feet propped on his desk so I could contemplate the soles of his shoes — told me, "My clients aren’t ready for women lawyers, but you might try the oil companies," says Cynthia Shoss, co-leader of Sutherland Asbill & Brennan LLP's insurance transactions and products practice.

  • April 17, 2014

    Boeing Hit With ERISA Suit Over Coverage For Autistic Kids

    Employees of The Boeing Co. filed a putative class action Thursday in Washington federal court, claiming the company breached fiduciary duties by not including behavioral therapy coverage for autistic dependents in their benefits plan, in violation of the Employment Retirement Income Security Act.

  • April 17, 2014

    Debating ALI's Take On Pro Rata And All Sums Methods

    Whether the American Law Institute should back the pro rata or all sums method for allocating long-tail claims across multiple policy periods, is one of the high-stakes questions stirring up debate ahead of the body's annual meeting in May, when members will mull the latest draft of the ALI's liability insurance principles.

  • April 17, 2014

    Embattled Fla. Judge Sues Commission Over Ethics Probe

    The Florida judge whose removal was recommended Tuesday by the state's Judicial Qualifications Commission because of her involvement as an attorney in a $14.5 million settlement with an insurer has now sued the JQC, claiming its investigation violated her due process rights.

  • April 17, 2014

    Prudential's $2B RMBS Suit Against BofA Mostly Survives

    Most of the claims lodged by Prudential Insurance Co. alleging Bank of America Corp. sold it $2 billion in fraudulent residential mortgage-backed securities survived a motion to dismiss Thursday in New Jersey federal court.

  • April 17, 2014

    Insurers Can Rescind $20M From Fraudster's Firm, Judge Says

    A California federal judge on Monday let four insurers rescind $20 million of commercial crime policies issued to Namco Financial Exchange Corp., a bankrupt real estate firm whose founder was convicted of fraud, finding that Namco had lied on its insurance applications.

  • April 17, 2014

    TIG Sues NHL, 11 Insurers Over Concussion Injury Coverage

    TIG Insurance Co. on Tuesday sued the National Hockey League and nearly a dozen insurers in New York state court, contesting that it owed coverage for two class actions brought by hockey players over concussion injuries.

  • April 17, 2014

    New Zurich American HQ Pulls In $333M In Financing

    St. Louis construction firm Clayco Inc. and landlord Stonemont Financial Group LLC secured more than $333 million to fund land acquisition and development for insurance giant Zurich American Insurance Co.’s new North America headquarters outside Chicago, financing arranger Jones Lang LaSalle announced Wednesday.

  • April 17, 2014

    LeClairRyan Bags Seasoned Med Mal Trial Lawyer In NYC

    LeClairRyan has snagged an experienced McAloon & Friedman PC medical malpractice trial lawyer, who's also a former New York City criminal prosecutor, to join its medical malpractice defense and health care teams, the firm said Monday.

  • April 17, 2014

    ACA Sign-Ups Hit 8M In Win For Health Care Industry

    President Barack Obama announced Thursday that 8 million Americans found private health insurance during the Affordable Care Act’s first open enrollment period, a big win for drugmakers, insurers and hospitals that helped bankroll the law and ended up with more new customers than most expected.

  • April 17, 2014

    AIG, Auto Firms, Homeowners Drove $27B Bailout Loss: CBO

    The Congressional Budget Office on Thursday said the unprecedented 2008 federal bailouts will end up costing the government and taxpayers $27 billion, with most of those losses stemming from assistance to American International Group Inc., General Motors Co., Chrysler LLC and homeowners rather than to banks.

  • April 17, 2014

    Monmouth, Ocean Counties Seeing Most NJ Sandy Suits

    New Jersey state courts have seen at least 1,011 cases stemming from Hurricane Sandy since the storm struck in October 2012, with the hard hit, shore-area counties of Ocean and Monmouth bearing the bulk of those actions, according to figures provided by the judiciary Thursday.