Insurance

  • September 18, 2014

    ACE Sues American Dream Developer In $5.2M Premium Row

    ACE American Insurance Co. on Wednesday sued Triple Five Group Ltd. in New Jersey over an allegedly fraudulent transfer of a ground lease as part of the multibillion-dollar American Dream entertainment complex, which ACE contends was intended to stymie its collection of a $5.2 million arbitration award.

  • September 18, 2014

    W.Va. Seeks Quick Win In ACA Policy Renewal Suit

    West Virginia on Wednesday asked a D.C. federal judge to grant summary judgment in its lawsuit challenging the Obama administration for allowing renewals of insurance policies that should have been canceled under the Affordable Care Act, calling the move unlawful.

  • September 18, 2014

    Uber, Lyft Face New Insurance Regs As Calif. Gov. Signs Law

    California Gov. Jerry Brown on Wednesday signed an amendment to state law boosting the insurance requirements for so-called transportation network companies such as Uber and Lyft.

  • September 18, 2014

    Issa Blasts CMS For Impeding HeathCare.gov Security Review

    House Oversight and Government Reform Committee Chair Darrell Issa, R-Calif., criticized the Centers for Medicare and Medicaid Services on Thursday for making it impossible for Congress or other federal agencies to scrutinize HealthCare.gov's security measures, accusing the agency of "wordsmithing" to paint a rosy picture of its safeguards.

  • September 18, 2014

    St. Paul Owes $1.8M Toward Forklift Death Settlement

    St. Paul Surplus Lines Insurance Co. is on the hook for $1.8 million, about half of the $3.5 million that fellow insurer Continental Casualty Co. paid out to cover a settlement with the family of a forklift operator killed in a workplace accident, a California federal judge ruled Tuesday.

  • September 18, 2014

    Insurer Sues Anheuser-Busch Over $12M Frozen Beer Claim

    AGCS Marine Insurance Co. has sued Anheuser-Busch InBev SA/NV in New York federal court seeking a declaration that it shouldn’t have to cover the brewer for $11.7 million in losses and fees for beer allegedly frozen in transit last winter, saying the company failed to properly store the beer.

  • September 18, 2014

    FEMA Loses Fight To Fla. Water District Over $21M For Repairs

    A Florida federal judge on Wednesday reversed FEMA’s de-obligation of $21 million in rehabilitation funds for the Florida coast to repair canals and levees damaged from hurricanes in 2004 and 2005, saying the Stafford Act prohibits the federal agency from pulling the funds back.

  • September 18, 2014

    Calif. Court Says Asbestos Coverage Claims Not Time-Barred

    A California appeals court on Wednesday revived a suit brought by trustees of the Western Asbestos Settlement Trust alleging California Insurance Guarantee Association breached its duty to cover underlying asbestos injury claims, finding the necessary events to trigger the statute of limitations have not occurred.

  • September 17, 2014

    Insurer Says Chancery Erred By Not Halting Mine Safety Suits

    North River Insurance Co. on Wednesday told the Delaware Supreme Court that the Chancery Court erred by not enjoining Mine Safety Appliances Co., which faces myriad personal injury claims, from participating in coverage litigation in West Virginia or filing other coverage claims than what’s pending in Pennsylvania and Delaware.

  • September 17, 2014

    Oracle Adds IP Claim Against Oregon In Health Exchange Row

    Oracle America Inc., which recently hit the state of Oregon with a breach of contract suit for allegedly continuing to use software developed by Oracle for the state’s Affordable Care Act exchange despite never having paid approximately $23 million in fees, has added a copyright claim to the suit.

  • September 17, 2014

    Detroit's Ch. 9 Confirmation Trial Delayed For A Week

    The judge presiding over Detroit's bankruptcy on Wednesday gave Financial Guaranty Insurance Co. and several hedge funds a week to refashion their objections to the city’s debt restructuring after a onetime ally against the Chapter 9 plan dropped out.

  • September 17, 2014

    Former Florida Judge Pereyra Joins JAMS In Miami

    A former judge in Florida's Eleventh Judicial Circuit Court has joined the JAMS Miami Resolution Center as an arbitrator, mediator and special master covering a variety of disputes, including in the employment, health care, insurance and entertainment sectors, the company announced Tuesday.

  • September 17, 2014

    Insurer In Judge Murder Plot Charged With Faking Records

    The insurance company founder accused of plotting to kill a prominent Delaware judge was charged with creating false documents, in an indictment unsealed Tuesday in Maryland federal court that seeks to recover over $100 million in premiums customers paid as a result of artificially inflated ratings.

  • September 17, 2014

    Safeco Loses Challenge To Abatement Of Bad Faith Suit

    A Florida appeals court on Wednesday affirmed a lower court's decision to abate and not dismiss a bad faith claim against Safeco Insurance Company of Illinois, ruling that though the move barred Safeco from removing the case to federal court, the trial court complied with the law in its ruling.

  • September 17, 2014

    BNY Mellon Says RMBS Suit Over Loan Docs Falls Short

    The Bank of New York Mellon Corp. on Monday pushed back against banks, insurers and other investors’ lawsuit against BNY as trustee of pools of poor-performing residential mortgage-backed securities, arguing that it is being accused of breaching duties that aren't in the pooling and servicing contracts.

  • September 17, 2014

    OneBeacon Denied Again In Dish Malpractice Coverage Suit

    A Texas federal judge refused on Wednesday to reconsider his decision not to hand an early win to OneBeacon Insurance Group Ltd. in its suit claiming it doesn’t have to defend law firm T. Wade Welch & Associates in an antitrust-related legal malpractice suit brought by Dish Network Corp.

  • September 17, 2014

    Policyholders Say Defense Is Delaying Sandy Mediation

    A firm representing policyholders in Superstorm Sandy insurance litigation in New York federal court on Monday blasted attempts by the insurers' counsel to cease mediations to conduct more site inspections, saying the attempts amount to "erecting another road block" for the plaintiffs at taxpayers' expense.

  • September 16, 2014

    AIG Unit Says Sandy Caused Flood As Deductible Trial Opens

    An American International Group unit told California jurors Tuesday it didn't stiff a New York science center on Hurricane Sandy damage claims, saying a high deductible for named storms applies even though Sandy lost its name before the damage occurred because it had unleashed "a massive wall of water" days earlier.

  • September 16, 2014

    Texas Justices Weigh BP's $750M Deepwater Coverage Claim

    BP PLC on Tuesday asked the Texas Supreme Court to find that it's entitled to claim $750 million under a Transocean Ltd. insurance policy for the Deepwater Horizon oil spill, saying the policy doesn't incorporate a separate indemnity agreement that limits Transocean's liability for underwater pollution.

  • September 16, 2014

    Affiliated Off Hook For $30M Sandy Coverage Due To Mistake

    A New York federal judge ruled Monday that Affiliated FM Insurance Co. sufficiently proved it mistakenly set a $30 million coverage limit instead of $10 million in Cammeby's Management Co. LLC’s suit claiming it had been stiffed on coverage it was owed for Superstorm Sandy damage to a commercial complex it owns in Brooklyn.