LexisNexis® Legal Newsroom
    Insurer Needn't Cover Clerk In Fake TV Probe Suit: Mass. Court

    Arbella Insurance Group doesn't have to cover a city of Newton police clerk's costs to defend a lawsuit alleging he secretly photographed the then-police chief's secretary as part of a ruse to get her to accept extra work by making her believe she was the subject of a TV news investigation, a Massachusetts appeals court affirmed Tuesday.

    Insurer Says Bribe Case Erases Defense Duty To Racetrack

    Illinois Northern RSUI Indemnity Co. argued Monday it is not required to defend an Illinois racetrack operator against a $21 million suit alleging fraudulent money transfers, saying it falls under a policy exclusion for cases related to its bribery of former Gov. Rod Blagojevich.

    What To Look For In Strong Ransomware Insurance

    Organizations should take care to avoid developing a false sense of security over the simple placement of ransomware coverage. Terms can vary greatly, so insureds must take a close look at the definitions, terms and conditions to ensure adequate protection, says Evan Bundschuh of Gabriel Bundschuh & Associates Inc.

    PE Shop Taps China Life For $950M Net Lease Portfolio Recap

    Private equity real estate firm ElmTree Funds LLC said it would enter into a $950 million recapitalization agreement with China Life Insurance Group on Tuesday, meaning the companies will share a portfolio of properties under lease in the U.S.

    Fiduciary Rule Comments: Some Conflict, Lots Of Interest

    During the second comment period for the U.S. Department of Labor’s fiduciary rule, more than 130 comment letters were filed by firms, trade groups, coalitions, think tanks and other thought leaders, and even more comment letters were filed by individuals. Susan Krawczyk of Eversheds Sutherland summarizes the institution comment letters and offers observations regarding key issues and concerns.

    Insurer Says It Needn't Cover Farm Co. In Wasp Breeder's Suit

    Colony Insurance Co. asked a California federal court on Monday to let it off the hook in defending a farming company from a $455,000 negligence suit for allegedly supplying pesticide-laden banana squash to a predatory wasp breeder that decimated its wasp population.

    Genworth Investors Say Lead Plaintiff Rival Has Conflict

    Genworth Financial Inc. investors told a Virginia federal court Monday that Scott + Scott LLP and Johnson & Weaver LLP should not be named lead counsel in their case challenging the insurer’s $2.7 billion sale, saying the firms' client has an incurable conflict of interest from prosecuting two related actions in Delaware court.

    Global Watchdog Turns Glare On Conduct And Culture

    Global regulators said Tuesday that international misconduct in financial services has risen to unacceptable levels, as they pave the way for major board-level crackdowns.

    Global Insurance Regulator Names New Head Of Solvency

    The International Association of Insurance Supervisors, an umbrella group of regulators in more than 200 jurisdictions, has named Solvency II expert Romain Paserot as its new head of capital and solvency.

    Attorneys, Your Input Is Needed On Deposition Rule

    Every lawyer who’s handled a civil case in federal court knows about Rule 30(b)(6), governing deposition procedures. But for many real-world deposition dilemmas, the rule offers little guidance. Last year, an Advisory Committee on Civil Rules subcommittee began considering whether the rule should be amended. Now attorneys must advise the subcommittee how to proceed, says Frank Silvestri Jr. of Verrill Dana LLP.

    Why Insurance Law Firms Are Banding Together

    Law firms serving the insurance industry have created two separate global associations so far in 2017, and the sector also saw a major cross-border law firm merger as insurance lawyers scramble to win profitable work amid a rapidly consolidating client-base.

    Barclays Sued For £1.6B Over 'Worthless' Credit Cards

    A credit card services firm has filed a claim in London's High Court against Barclays PLC for £1.61 billion ($2.1 billion) in damages after the bank sold it portfolios of credit card agreements in 2007 which the company says were rendered “worthless” as a result of the bank's misselling of a payment protection product.

    Lloyd's Liberty Eyes Luxembourg Office To Beat Brexit Upheaval

    Liberty Specialty Markets, one of Lloyd’s of London biggest insurers, is preparing to establish an operation in Europe to help avoid the disruption of Brexit, the firm revealed on Tuesday.

    Bank Leumi Fires Back Against AIG Insurance Claim

    Bank Leumi, one of Israel’s biggest banks, has resisted a claim in London’s High Court that it owes the European unit of U.S. insurance giant AIG nearly £600,000 ($778,200) under a reinsurance agreement.

    EIOPA Unveils Final Interest Rate Methodology

    Europe’s top insurance regulator on Tuesday set out its final methodology for predicting interest rates in future decades that will help determine firms’ Solvency II capital buffers.

    UK Threatens Financial Firms With Tax Report Penalties

    Financial institutions must hand over customer account information to HM Revenue and Customs by the end of May under international information reporting rules aimed at clamping down on tax evasion or risk being hit with financial penalties, Britain’s tax authority said Tuesday.

    Terror Reinsurer Offers Swift Response To Manchester Attack

    The U.K.’s Treasury-backed terrorism reinsurer will address any claims resulting from the suicide bomb attack at a pop concert in Manchester as quickly as possible, the firm said on Tuesday.

    Ill. Appeals Court OKs Medical Marijuana For Post-Op Pain

    An Illinois appeals court on Monday affirmed a trial court’s finding that the director of the state’s Department of Public Health broke the department’s own rules when he unilaterally denied an unnamed man’s petition to add chronic postoperative pain to the list of diseases the state’s medical marijuana law covers.

    Insurers Angle For Win In Fiserv Coverage Battle

    A Sompo Holdings unit and XL Specialty Insurance Co. on Monday urged a Wisconsin federal court to find that they have no obligation to cover Fiserv Solutions Inc.'s claims for costs tied to a $530 million Bank of America NA title insurance suit, saying the court previously failed to take into account recent Wisconsin Supreme Court precedent.

    Insurer Wants To See Settlement Deal In $5.2M Med Mal Suit

    American Physicians Assurance Corp. on Monday asked an Illinois federal court to force a surgical center suing the insurer for negligence to turn over a settlement it reached with Lowis & Gellen LLP after APAC and the law firm’s actions allegedly led to a $5.2 million medical malpractice verdict against the center.

    AIG Needn't Defend Carfax In $50M Antitrust Suit

    A New York judge has found an AIG unit does not have to defend Carfax against a $50 million suit alleging the company monopolized the vehicle history report market, saying references to defamation in the suit cannot get Carfax out from under an antitrust exclusion.

    Cyberattacks Have Insurers Retooling Data Protection Books

    Following this month's international cyberattack that affected more than 300,000 computer systems across 150 countries, U.K. insurers will tighten the wording of data-protection policies in a bid to shut down sweeping new vistas of liability, lawyers say.

    PRA Insurance Chief To Leave UK Watchdog

    The Prudential Regulation Authority’s most senior non-life insurance supervisor is set to leave the U.K. financial services regulator at the end of June, Law360 learned Monday.

    Windshield-Repair Shops Seek Cert. In Geico Suit

    Windshield-repair shops suing Geico General Insurance Co. over its alleged imposition of an illegal deductible on Florida policyholders through reimbursement-price suppression asked a federal judge on Friday for class certification, saying they've met all the requirements.

    Mich. Doctor Gets 19 Years For Fraudulent Opioid Scripts

    A Michigan doctor has been sentenced to 19 years in prison after being convicted for his role in a practice that wrote fraudulent prescriptions for opioids and falsely billed Medicare.