Insurance

  • July 11, 2014

    Roberts' Pass on Hobby Lobby Signals Alito's Rise

    Chief Justice John G. Roberts stayed in the background in the U.S. Supreme Court’s recent blockbuster Affordable Care Act case over employer-sponsored contraceptives, handing the majority opinion to Associate Justice Samuel A. Alito in a surprising move that experts say marks Justice Alito’s rising influence as a conservative force on the court.

  • July 11, 2014

    ISS Props Up Aspen In Fight Against $3.2B Takeover By Rival

    Proxy adviser Institutional Shareholder Services Inc. on Friday recommended that shareholders of Aspen Insurance Holdings Ltd. vote against a pair of proposals from fellow insurer Endurance Specialty Holdings Ltd. aimed at advancing its $3.2 billion takeover bid for Aspen.

  • July 11, 2014

    PacifiCare Sues Calif. Insurance Official Over $174M Fine

    PacifiCare Life and Health Insurance Co. sued California's insurance commissioner Friday in state court over a $173.6 million fine for roughly 130,000 violations in processing health insurance claims after UnitedHealth Group Inc. acquired it for $9.2 billion, calling the penalty egregious.

  • July 11, 2014

    In Win For Axis, 8th Circ. Holds Drownings Were 1 Event

    The Eighth Circuit on Friday upheld a ruling that claims against a Christian sports camp over the drowning of two boys at a pool party involved one occurrence instead of two, limiting the obligations of Axis Insurance Co. over the protests of an umbrella insurer.

  • July 11, 2014

    Deals Rumor Mill: Alibaba, Telefonica, Cemex

    China's Alibaba could kick off its potentially record-breaking U.S. initial public offering process at soon as the end of this month, while Spain's Telefonica is looking to ditch its stake in Telecom Italia to ease regulatory pressure.

  • July 11, 2014

    Judge Reverses Coverage Ruling In EMT Sex-Abuse Suit

    An Oregon federal judge on Thursday ruled that National Union Fire Insurance Co. has no obligation to cover judgments and settlements against an ambulance company sued for employing a male emergency medical technician who pled guilty to fondling passengers, reversing his earlier judgment.

  • July 11, 2014

    Boehner Preps Obama Suit Over ACA Employer Mandate Delay

    U.S. House of Representatives Speaker John Boehner, R-Ohio, on Thursday introduced a draft resolution to let the body sue President Barack Obama over his decision to postpone implementation of the Affordable Care Act's employer mandate.

  • July 11, 2014

    Detroit Can Hang On To Casino Tax Revenues, Judge Rules

    Syncora Holdings Ltd. failed on Friday to trap casino tax streams flowing to the city of Detroit to satisfy the bankrupt municipality’s debt obligations when a Michigan federal judge held that the revenues are part of the debtor’s estate and off-limits to creditors.

  • July 11, 2014

    Blackstone Pays $609M For 2 Units Of Life Insurance Co.

    Life insurance company Friends Life Group Ltd. will sell its wealth management units to private equity firm Blackstone Group LP for up to £356 million ($608.9 million), the companies said Friday, in a move that sees Friends Life divesting nonessential businesses.

  • July 11, 2014

    Del. VC Laster Targeted In Businessman's Murder Plot

    The founder of a struggling insurance company hatched a murder plot targeting Vice Chancellor J. Travis Laster, who oversaw the liquidation of the business, amassing a trove of weapons and apparently recording himself on a recent trip to Delaware to stake out the judge's home, according to court documents.

  • July 10, 2014

    Fla. Disagrees With Insurers' Trade Secret Claims On Rates

    The Florida Office of Insurance Regulation has told insurers that it does not agree with trade secret claims they applied to their proposed rates filed for 2015 federal health insurance marketplace plans in Florida.

  • July 10, 2014

    5th Circ. Puts Contractual Liability Exclusion Back On Map

    The Fifth Circuit recently held that Mid-Continent Casualty Co. correctly applied a contractual liability exclusion in a construction defect case, an encouraging sign for insurers fighting indemnification in the wake of a landmark Texas Supreme Court ruling that narrowed the exclusion's scope.

  • July 10, 2014

    Lloyd's Wins For 'All Time' On Covering Scammer, Court Says

    A Florida federal judge held Thursday that Lloyd's of London has no duty under a professional liability policy to indemnify an insurance scammer against claims brought by AXA Equitable Life Insurance Co., finding a criminal conduct exclusion applied.

  • July 10, 2014

    BofA Customers Ask 9th Circ. To Revive Insurance Fee Suit

    A group of Bank of America customers on Thursday urged the Ninth Circuit to revive their putative class action alleging the bank and an affiliate enrolled and charged bank customers for accidental-death insurance without their consent, saying a judge wrongfully tossed the case over purported forum-shopping.

  • July 10, 2014

    Texas Appeals Court Boots Atty Fee Suit To New Mexico

    A Texas appeals court on Thursday affirmed the dismissal of a suit by Sammons & Berry PC to recover attorneys’ fees in a personal injury suit, saying though a Texas trial court had jurisdiction to hear the case, it was within the judge’s discretion to hold that New Mexico was a more appropriate forum.

  • July 10, 2014

    Agent Costs Add Millions To Rebates Under ACA, GAO Says

    Private health care insurers would have paid millions of dollars less in premium rebates to members under the Affordable Care Act if agents and brokers’ charges hadn’t been used in their calculation, the U.S. Government Accountability Office said in a report released on Thursday.

  • July 10, 2014

    National Union Denies Coverage For Med Co.'s $100M Suit

    National Union Fire Insurance Company of Pittsburgh filed suit Wednesday in New Jersey federal court seeking a judgment that it does not have to defend or indemnify medical technology company Becton Dickinson and Co. for its $100 million judgment in two underlying antitrust lawsuits.

  • July 10, 2014

    Horizon Deal, $2.5M Atty Fees OK'd In Reimbursement Suit

    A New Jersey federal judge on Wednesday approved the settlement of a class action accusing Horizon Blue Cross Blue Shield of New Jersey Inc. of underpaying reimbursements, backing the insurer’s plan to decommission a controversial database and awarding class counsel $2.5 million despite protests.

  • July 10, 2014

    Canada Urges Insurers Not To Ask For Genetic Testing Info

    Canada’s privacy watchdog on Thursday said it is urging life and health insurance companies not to ask policy applicants for access to the results of genetic tests they may have taken.

  • July 10, 2014

    Endurance Urges Investors To Push Aspen On $3.2B Merger

    Endurance Specialty Holdings Ltd. on Thursday urged its fellow shareholders of Aspen Insurance Holdings Ltd. to speak out against the Aspen board’s reluctance to consider Endurance’s $3.2 billion buyout bid in what has become a heated hostile takeover attempt in the highly regulated insurance space.