Great American Assurance Co. went to federal court on Tuesday seeking to avoid covering the 12-university Ohio Valley Conference in connection with lawsuits by college football players over their elevated risk of concussion and brain disease.
Bond insurer Ambac turned its legal guns on U.S. Bank NA on Tuesday, saying in a new federal lawsuit that the bank had a duty to sue Countrywide Financial Corp. and Bank of America Corp. for their role in the residential mortgage-backed securities racket that it failed to fulfill.
A New York state judge has dismissed a real estate company's lawsuit seeking to force its insurance carrier to pay an appraisal award for property damage tied to Superstorm Sandy, holding that the action was not timely filed even though appraisal process hadn't concluded by the time the relevant two-year limitations period expired.
Four insurers need not defend or indemnify Mega Construction Corp. in a shoddy-workmanship suit, the Third Circuit confirmed Tuesday, agreeing with a lower court that Pennsylvania law clearly disqualifies such claims from coverage under the policies the New Jersey-based construction company held.
Suffering from law firm ranking fatigue? Bewildered by the methodologies? If so, you're in good company. Alan Morrison, associate dean for public interest and public service law at George Washington University Law School, wonders how far law firm ranking efforts may go.
Historically, the United Kingdom has helped the United States communicate and address its economic and political interests in the EU. The triggering of Article 50 looks set to change the game, but there can be little doubt that these nations will continue to trade successfully as they have done for centuries, say attorneys with Haynes and Boone LLP.
The Texas Supreme Court on Friday restored protections for policyholders by putting teeth back into statutory provisions that penalize carriers for deceptive practices in an opinion insurance lawyers say is one of the most important in recent history. Here's a closer look at the ruling, and how attorneys on both sides of the bar are responding.
Geico on Tuesday sued a Florida health clinic, alleging a group of massage its therapists made $1.2 million in claims for medically unnecessary treatments provided to automobile accident victims who were eligible for coverage under the insurer's no-fault insurance policies.
Almost 20 New Jersey doctors and clinics defrauded Geico of about $5.2 million, the insurer told a New Jersey federal court Tuesday, accusing the health care providers of exaggerating the injuries of people involved in automobile crashes and of otherwise conspiring to wring as much money as possible out of Geico.
A group of Lloyd's of London underwriters pushed a Texas federal judge to drop a temporary restraining order in its dispute with a Connecticut insurer and let a British arbitration proceed Monday over a personal injury settlement from two energy companies.
Manulife Real Estate has picked up an office tower in Singapore for $526 million, according to an announcement from the Toronto-based firm on Tuesday.
Insurance broker Zenefits agreed to pay New York insurance regulators a $1.2 million fine for allowing employees to sell policies without state broker's licenses, according to a consent order approved Tuesday.
The Sixth Circuit on Tuesday upheld a federal court's decision that Hartford Casualty Insurance Co. doesn't have to defend or indemnify Vitamin Health Inc. in a competitor's patent infringement and false advertising lawsuit, holding that no coverage exists because the underlying action doesn't allege product disparagement.
The Federal Circuit on Tuesday affirmed decisions by the Patent Trial and Appeal Board that the asserted claims of two patents covering the electronic processing of health documents that Travelers allegedly infringed are invalid as abstract and not inventive under the U.S. Supreme Court’s Alice decision.
Serial white collar fraudster Jason Galanis has hit back at federal prosecutors' demand for $37 million in restitution, telling a New York federal court that the government has not proven his conduct in the Gerova Financial Group Ltd. pump-and-dump securities fraud scheme caused any actual loss.
An Ohio federal judge Monday let candymaker Fannie May Confections off the hook for multiple third-party and cross-complaints filed in a suit over a $55 million insurance claim for goods the company lost in a warehouse fire, saying its subrogation agreement with its insurer barred the claims.
Group property and casualty insurance offers many advantages over traditional individualized coverage, but sometimes leads to more regulatory questions across both the admitted and surplus lines insurance markets. States can be fully expected to issue clarity on these issues through new statutes, regulations, bulletins and opinions in the months and years to come, says Zachary Lerner of Locke Lord LLP.
A Liberty Mutual unit has urged the Tenth Circuit to uphold a federal court's ruling that it doesn't have to cover MusclePharm Corp.'s claim for $3 million it spent responding to a U.S. Securities and Exchange Commission investigation, saying the lower court properly found the agency's probe didn't allege a "wrongful act" as required for coverage.
The California Supreme Court's recent decision in McGill v. Citibank is the latest entry in the court's well-known history of limiting what rights consumers may waive through arbitration agreements — potentially setting the stage for another review by the U.S. Supreme Court, say attorneys with Crowell & Moring LLP.
National Union Fire Insurance Co. hit back Monday in California federal court against a suit by Yahoo Inc. alleging the insurer failed to defend it in five proposed class actions over unsolicited text messages, saying California law clearly limits its obligations to defending suits alleging the disclosure of personal information, not nuisance texts.
The U.K. and European Union should strike a deal to use each other’s services financial rules, allowing British banks and financial firms to continue reaching EU markets after Brexit, an advisory group set up by bank lobbying bodies said Tuesday.
A former F. Hoffmann-La Roche Ltd. employee has hit an insurer with a lawsuit in New Jersey state court to recover a roughly $1.6 million judgment he won against a disbarred attorney for allegedly botching his disability discrimination lawsuit against the pharmaceutical company.
Citibank NA asked a New York federal court to toss the remaining claims in a suit claiming the bank bungled its role as a mortgage-backed securities trustee, saying the investors have failed to sharpen their claims through discovery.
Continental Casualty Co. urged a Puerto Rico federal judge on Friday not to throw out its lawsuit accusing a law firm of failing to provide an adequate defense in a contract dispute against a construction company, saying the firm’s representation of the insurer extends far beyond than the firm asserts.
A South Carolina federal judge on Friday refused to stop the turnover of an insurer’s financial documents, but allowed the insurer to vet the information first, in a case alleging U.S. Bank NA negligently allowed two reinsurance companies to replace $180 million in assets held in trust accounts with worthless and highly illiquid assets.