An Illinois state judge has rejected a mechanical sealing company's argument that it should be allowed to access excess insurance policies to cover asbestos injury claims once all the lower-level insurance in the same policy period has been exhausted, finding that the proper exhaustion method depends on the language of each excess policy.
An AIG unit does not have to cover a portion of Tesoro Corp's $90 million loss due to forged letters of credit that allegedly induced it to transfer petroleum to a customer, the Fifth Circuit affirmed Friday, holding that the loss does not constitute theft under the insurer's commercial crime policy.
Axis Insurance Co. doesn't have to defend or indemnify NASCAR champion Tony Stewart in an underlying wrongful death suit filed by the parents of a race car driver who was struck and killed by Stewart in a 2014 sprint car race, a New York federal judge ruled Friday, holding that the policy didn't extend coverage to the race in question.
United Healthcare Services Inc. on Thursday hit Cephalon Inc. with an antitrust suit claiming that the insurer was forced to pay for the brand name sleep disorder drug Provigil because the drugmaker struck illegal deals to delay generics and lied to the U.S. Patent and Trademark Office.
Telamon Corp. urged the Seventh Circuit on Thursday to revive its suit against insurer Travelers, who it said wrongly denied coverage for a $5 million theft by a policyholder company's vice president, saying the district court wrongly interpreted policy exclusions as broadly as possible.
Congress is expected to pass legislation this year that will open up the flood insurance market to private insurers while U.S. and European authorities are poised to implement data transfer and protection regulations that could increase policyholders' risk exposure and drive the growth of the cyberinsurance market. Here, Law360 looks at legislation and regulatory developments that have captured the attention of insurers and policyholders alike.
Anthem Inc. and the U.S. Department of Justice are sparring over how quickly to start an antitrust trial regarding the insurer’s $54 billion merger with Cigna, trading allegations of stonewalling and artificial deadlines.
A Texas-based oil company that had two oil rig engines stolen from a storage facility is owed no coverage for the loss, a Mississippi federal judge concluded Thursday, because those components were not insured separately, but rather only when they were part of the rig as a whole.
Haynes and Boone LLP said Thursday it has bolstered its insurance recovery practice in California by snagging a trio of former Anderson Kill PC attorneys, including one partner, with experience advising policyholders in the hospitality, manufacturing and transportation industries.
A Louisiana federal judge sanctioned a rental property owner on Thursday for his alleged failure to comply with discovery obligations, but refused to toss the suit brought by Century Surety Co., which is suing to rescind a policy after a fire at the owner’s property.
Recent headline-grabbing data security incidents have shed light both on direct and collateral impacts to companies and their employees. Attorneys should take steps to ensure that their role in the conduct of litigation does not in itself lead to similarly damaging disclosures of sensitive information, say Dante Stella and Sherrie Farrell of Dykema Gossett PLLC.
A Florida bankruptcy judge on Thursday approved a $2.2 million deal between the trustee liquidating an investment fund that fed into jailed attorney Scott Rothstein's $1.2 billion Ponzi scheme and two insurers over their attempts to dodge millions in commercial crime insurance coverage.
A former Hialeah Hospital nurse is urging the U.S. Supreme Court to take up his challenge to Florida's workers' compensation law, arguing that its erosion of workers' benefits does not stand up to constitutional scrutiny.
Millennium Laboratories on Thursday urged the Ninth Circuit to undo a California federal judge’s decision to let its insurer off the hook for $5 million in coverage of a federal Health Insurance Portability and Accountability Act investigation, saying the ruling essentially rendered its policy meaningless and conflicted with California law.
A Colorado baker who the Colorado Court of Appeals found in violation of a state discrimination law for refusing to make a wedding cake for a same-sex couple has asked the U.S. Supreme Court to determine that his cakes are art protected by the First Amendment.
The owner of a network of for-profit colleges is entitled to coverage under a Federal Insurance Co. policy for its costs to defend against claims brought by former students and the Florida attorney general over its allegedly deceptive marketing practices, a Maryland federal judge ruled Thursday.
A DLA Piper lawyer who was found in contempt and sanctioned for lying in sworn testimony connected to witness preparation for a prescription drug plan suit asked a federal judge on Wednesday to lift the order, saying he didn't receive adequate notice of the threat.
The son of John Steinbeck has sued his insurance company for denying coverage of an underlying 2014 lawsuit, brought by Steinbeck’s late wife’s daughter disputing who controls the movie and stage rights of the author’s work, according to California federal court complaint filed Thursday.
Specialty insurer Kinsale Capital Group Inc., represented by Skadden Arps Slate Meagher & Flom LLP, raised $106 million on Wednesday in an initial public offering after pricing the IPO at the high end of its range, and medical device company Tactile Systems Technology priced below range as expected.
Mortgage borrowers who say Wells Fargo failed to disclose property insurance proceeds that might’ve been available to pay off their loans told a California federal court Wednesday that the bank is employing a “scorched-earth” litigation strategy and is seeking to delay the class action at every turn.
Heinz told the Third Circuit on Wednesday that Starr Surplus Lines Insurance Co. lost its right to rescind a $25 million policy in a battle over coverage for lead-tainted baby food by invoking a policy provision to apply insurer-friendly New York law, arguing that the insurer can't both enforce and refute the policy.
The decision of whether and how aggressively to pursue representations and warranties insurance for compliance risks — such as corruption, money laundering and sanctions issues — is not easy. Sharing diligence findings with potential insurers can prove tricky in the compliance context, as portions of this diligence are often conducted pursuant to legal privilege, say attorneys with Ropes & Gray LLP.
The Constitution does not permit a jury’s determination to be replaced with a judge’s or a prosecutor’s. If it did, there would be no need for the jury in the first place, or the jury would be an advisory jury such as in China and Iran. Our community check on the government has been eliminated, says Professor Suja A. Thomas of the University of Illinois College of Law.
Standard Insurance Co. successfully appealed a lower court’s ruling that it must pay long-term disability benefits to a former Kirkland Ellis LLP partner, as the Seventh Circuit on Wednesday ordered a new trial due to mistakes made by the district court.
A nonequity partner at Sedgwick LLP filed a proposed class action against the firm on Tuesday, accusing the firm of gender-based discrimination and alleging the firm's all-male leadership team denied her and other women attorneys equal pay and promotions.