Although real estate can be a worthwhile investment and a valuable inheritance, there are times when the cost of owning a property greatly eclipses what it's worth. In the case of toxic succession — when a contaminated piece of real estate is passed down — a beneficiary can be liable for the environmental contamination, no matter what the cost, says Manya Deva Natan of SSS Legal and Consultancy Services.
The Corporate Governance Annual Disclosure Model Act and Model Regulation have been adopted by the National Association of Insurance Commissioners and have been passed into law by five states. Regardless of the exact contours of the final requirements in each state, insurers should be preparing to share an unprecedented level of detail on corporate governance procedures with insurance regulators annually, say attorneys with Day Pitney LLP.
Eli Lilly's insurer told a Florida jury Monday that Tyco Integrated Security LLC failed to protect a Lilly pharmaceutical warehouse in Connecticut and should shoulder the blame for a $60 million drug heist there by burglars who disabled the alarm system.
A referee has recommended permanent disbarment for a former Florida state judge removed from the bench last year for her improper actions as an attorney regarding a $14.5 million insurance settlement, citing that misconduct as well as her "utter disrespect for the judicial process" that has followed.
A former Reed Smith LLP client accusing the firm of botching an insurance settlement after a fire at a historic suburban Philadelphia mansion has objected in Pennsylvania state court to subpoenas that he says seek protected information from other law firms.
An Illinois law firm will have to foot the $600,000 arbitration bill it incurred after it employed outside law firms to collect on an $8.6 million securities fraud settlement, with the Seventh Circuit ruling Monday that a malpractice insurance policy doesn’t cover the recovery of legal fees.
The U.S. Supreme Court on Monday declined to review a Ninth Circuit decision in an Employee Retirement Income Security Act suit that set a precedent that appeals sent on a Monday are still timely when the 180-day presuit administrative appeals period ends on a weekend.
Star Insurance Co. told the Ninth Circuit on Monday that it should be allowed to rescind a recycling company's policies in an arson coverage dispute due to misrepresentations on the policyholder's applications, saying a lower court erred in holding that the insurer waived its right to rescission by not conducting a sufficient investigation.
An insurance broker serving a 12-year sentence for hiding the fact that he had persuaded his clients to sell their life insurance policies to investors before they bought the policies has asked the Supreme Court to step in, saying the Second Circuit has stretched the limits of criminal fraud statutes.
Anthem Inc. on Monday accused Express Scripts Inc. in New York federal court of breaching their pharmacy benefit management services contract by charging inflated prices and refusing to renegotiate in good faith, causing the insurer to overpay at least $15 billion.
Mid-Continent Casualty Co. is fighting to uphold a magistrate's recommendation to toss a suit seeking $63 million from the insurer, telling a Texas federal judge Friday the architecture firm trying to collect the big payout is making unfounded arguments.
Actress Shannen Doherty's former accounting firm used a female employee to impersonate the TV star and obtain private health information from her insurer in a bid to fight allegations it failed to pay her premiums on time, according to a suit Doherty filed Friday in California state court.
A Florida audiologist on Monday was sentenced to nearly eight years in prison after a jury convicted her and a co-conspirator of reaping more than $2.8 million in Medicare reimbursements for medical treatments that were never performed.
After a Puerto Rico federal judge declared earlier this month that the U.S. Supreme Court ruling legalizing same-sex marriage doesn’t apply to the territory, the couples and advocacy organization filing the suit, backed by the Puerto Rican government, on Monday asked the First Circuit to overrule him.
Admiral Insurance Co. must face Cottage Health System's bid for nearly $6.5 million in coverage for a settlement payment and defense costs associated with a lawsuit filed by a former patient who claimed he was mistreated by the health care network, as well as Cottage's claim that it acted in bad faith, a California federal judge ruled Friday.
For policyholders, bad faith claims are perhaps the strongest tool to deter insurance companies from denying coverage without proper justification or unreasonably delaying its decision on a claim. However, definitively proving that a carrier acted in bad faith can often be an uphill battle. Here, experts dive into what types of evidence can strengthen a policyholder's bad faith case.
The U.S. Supreme Court on Monday denied a petition brought by an AIG investor seeking to revive proposed class action claims that the insurance giant misled investors over publicly traded securities, leaving in place a decision the investor claimed amounted to improper judicial lawmaking.
The Georgia Supreme Court found Monday that a child's injuries from ingesting lead paint chips are excluded from coverage under the pollution exclusion in a Georgia Farm Bureau Mutual Insurance Co. policy, ruling on an issue of first impression.
According to a recent study from the Indiana University Center for Postsecondary Research, more than half of 20,000 students surveyed reported high levels of stress related to landing a job and paying back student loans. Stephen Dash, founder and CEO of Credible Labs Inc., says the numbers show that this trend is becoming the norm, and especially at private law schools.
The Supreme Court's recent decision in Americold v. ConAgra reaffirms that unincorporated legal entities have the citizenship of their “members” for purposes of federal court diversity jurisdiction, and there is no special rule for real estate investment or other trusts — making removal to federal court difficult for larger entities, say attorneys at Sullivan & Cromwell LLP.
I was in the midst of cross-examining an expert when we broke for lunch. When we came back I picked up right where I left off. About four or five minutes into my questioning, the door at the back of the courtroom opened and in walked ... the court reporter, says Steve Foresta, leader of Orrick Herrington & Sutcliffe LLP's litigation business unit.
Starwood Hotels on Monday unveiled a sweetened $13.6 billion buyout from Marriott, its original suitor, just days after the hotel operator last week had deemed an all-cash offer from a consortium led by China’s Anbang Insurance Group as “superior.”
A Georgia federal judge on Friday ruled that Federal Insurance Co. and Westchester Fire Insurance Co. must cover the Federal Deposit Insurance Corp.'s $71 million lawsuit accusing former executives of now-insolvent Silverton Bank NA of breaching fiduciary duties.
Berkshire Hathaway's National Indemnity Co. asked a New Jersey magistrate judge Wednesday to address why a Brazilian steel maker is allegedly refusing to participate in the court-ordered mediation of a dispute over a nearly $9 million insurance premium, and accused the company of intentionally delaying the proceeding.
Most lawyers receive little formal training in how to manage others under normal circumstances, let alone during a personal crisis. And the personal problems of associates can make law firms squirm. But when firms offer guidance in navigating intense and emotionally charged moments in associates' lives, everyone benefits — particularly the client, says lawyer and executive coach Stacey Saada Schwartz.