A Michigan federal jury on Friday convicted three people of conspiring to commit mail fraud as part of a scheme in which they billed car insurers for unnecessary or not provided physical therapy services for patients the clinics had paid to get into car accidents.
A Georgia judge Thursday found a Great American Insurance Co. policy against computer fraud does not cover $11.4 million in fraudulent debit card redemptions made over the phone.
A South Dakota health insurer has accused the federal government of failing to pay more than $8.9 million in risk corridor payments due for its participation in the individual market health care exchanges created by the Affordable Care Act.
Chinese tech firm LeEco is said to be selling a Silicon Valley site for $260 million, Abro Management has reportedly dropped $46.9 million on a pair of Brighton Beach rental buildings and Principal Life Insurance is said to have loaned $85 million for a Manhattan mixed-use building.
More insurance firms will be put up for sale in the U.K. this year than in any other country as companies struggle to remain viable under the European Union’s tough new capital rulebook, KPMG International predicted on Friday.
Canadian pension fund manager Caisse de dépôt et placement du Québec and private equity shop KKR & Co. LP revealed Friday they are acquiring USI Insurance Services LLC from its private equity owner in a deal that values the brokerage and consulting firm at $4.3 billion.
Driverless cars will put the brakes on the U.K. motor insurance market and challenge the way firms develop capital models and internal regulatory stress tests, according to a Bank of England paper published Friday.
The bulk of the recently introduced American Health Care Act focuses on repealing and replacing a number of Affordable Care Act provisions unrelated to group health plans and employer sponsors. However, it would repeal, delay or revise several ACA and non-ACA provisions directly related to the taxes, fees and related compliance costs borne by employers in relation to the GHP coverage they offer their employees, says Eric Schillinger of Trucker Huss APC.
House Republicans on Thursday just barely moved their Affordable Care Act repeal bill out of committee, Health Secretary Tom Price scheduled a Friday news conference on the measure, and Democrats coalesced behind a common message of opposition. Here’s the latest ACA news.
The D.C. District Court threw out a suit by Arch Coal Inc. over the legality of a U.S. Department of Labor bulletin that advised on who should be liable for certain coal miner black lung claims, saying that the district court was not the correct venue to decide the merits of the company’s case.
A potential class of Quest Diagnostics Inc. customers accused the lab company in New Jersey federal court of overcharging them for tests not covered by insurance and not being transparent about pricing.
President Donald Trump’s first budget for Congress quickly set the stage for political battles over defense spending increases and domestic cuts Thursday, as legislators prepare for a potential government shutdown in fights over funding this year and next.
The potential Senate Bill 10 introduced in Texas has been touted as legislation tailored to curb "hailstorm lawsuit abuse." However, this bill fails to reference hail or hailstorms, and would meaningfully and adversely impact the rights of all Texas policyholders, say John Hardin and Gilbert Perales of K&L Gates LLP.
A Texas liquor store chain can’t force its insurer to pay for a suit seeking to recover more than $4 million charged by its credit card processor in the wake of two data breaches at the chain, a Texas federal judge ruled Wednesday.
Drones are becoming an increasingly prevalent tool of the trade for companies within the construction industry, prompting insurers to step in to offer products to fill potential gaps in coverage for risks tied to use of the unmanned aerial vehicles.
Ace American Insurance asked a Georgia court Wednesday to declare it didn’t have to pay a $1.4 million judgment for acid damage at a former battery factory, claiming a pollution exclusion was left off the policy by mistake.
The U.K. government should adjust unstable risk margins set out in European Union capital rules for insurance firms, the head of the Prudential Regulation Authority said in a letter released Thursday.
A Florida couple that own several sober homes and drug treamtent facilities on Wednesday pled guilty to running a health care fraud scheme in which they billed insurers for residents who didn’t need or receive care, or were actively using drugs, and paid kickbacks to residents and owners of other homes.
For the remainder of 2017, due in part to the current uncertainty in the health care industry and its legislative oversight, more financially distressed providers are considering Chapter 11 bankruptcy. However, health care provider Chapter 11 cases are multifaceted and include additional parties and issues compared to standard Chapter 11 cases, says David Samole of Kozyak Tropin & Throckmorton LLP.
The past year has seen the momentum turn in favor of mutual fund advisers in the current wave of “excessive fee litigation.” The New Jersey district court's recent opinion in Kasilag v. Hartford is insightful both for what it found with respect to Hartford and for its potential application to the more than 20 other pending cases, say attorneys with Skadden Arps Slate Meagher & Flom LLP.
Blue Shield of California policyholders on Wednesday urged a California judge to certify a class of health insurance customers who allege they were unfairly denied surgeries to remove excess skin left after weight loss, arguing denial letters show the insurer had a uniform policy of excluding the procedure.
A trust set up to administer life insurance assets for a Japanese religious organization sued Wilmington Savings Fund Society FSB Wednesday in Delaware state court for allegedly breaching its contract as trustee by failing to pay premiums on life insurance policies held in the trust worth more than $6 million.
Steel pipe manufacturer Tex-Tube Co. on Tuesday launched a suit against Phoenix Insurance Co., seeking coverage for defense costs in an underlying suit over alleged defects in 20 miles of pipeline that Tex-Tube supplied, even though the insurer insists that those costs don’t involve “physical injuries” that its policy would cover.
A legal malpractice insurance carrier asked an Illinois federal court Wednesday to release it from its duty to defend a lawyer accused of racist and anti-Semitic attacks on a former client and lawyers amid a dispute over fees with a diet pill maker.
An Alabama federal judge on Wednesday found that an auto insurer does not have to defend a trucking company from claims it was involved in a racially targeted kickback scheme, saying the policy's language only covers unintentional acts.