AXA Equitable Life Insurance Co. beat two consolidated class actions challenging its allegedly excessive mutual fund management fees Friday when a New Jersey federal judge found the investors’ effort to prove the board members exercised poor oversight over the fees was marred by questionable testimony.
Secular anti-abortion group Real Alternatives Inc., in its effort to overturn a court order and become exempt from providing health insurance covering contraception, told the Third Circuit on Thursday that the federal government has no rationale to impose the mandate on nonreligious organizations that ideologically oppose certain contraceptive items.
A Delaware judge on Friday severely limited an insurer's exposure to fallout from an incident in which toddlers at a day care center were videotaped brawling with each other, saying that there “is no room for outrage or sympathies” in insurance contract interpretation.
As technology has advanced, the ways in which attorneys communicate with clients, potential clients, former clients and the public has created new and ill-defined issues relating to whether an attorney-client relationship exists. Attorneys Elizabeth Fitch and Theodore Schaer discuss the often nebulous yet hazardous concepts that could lead to malpractice issues.
The Sixth Circuit rejected food supplier S. Bertram Inc.'s bid for defense coverage in a competitor's trademark suit, holding Friday that the underlying action alleges only intellectual property infringement, which is excluded under Bertram's policy with Citizens Insurance Co. of America.
Some market watchers believe that law firms with significant energy-related practices have experienced precipitous declines in revenue and profits due to the dip in oil prices. Yet, firms continue to be bullish on Texas, and those still looking for a point of entry will jump at the right opportunity, say consultants with LawVision Group LLC.
The Eleventh Circuit on Friday affirmed a lower court's holding that two Travelers insurers don't have to defend Anda Inc. in West Virginia's lawsuit alleging that it contributed to a prescription drug abuse epidemic, finding that the insurer's policies clearly exclude coverage for claims tied to Anda's pharmaceuticals.
Understanding the intersection between litigation privilege and the obligation of good faith and fair dealing can be tricky. In California, there is substantial case and statutory law immunizing bad faith communications, but a small sliver of bad faith conduct may still be actionable, according to Joan Cotkin and Steven Knott of Nossaman LLP.
A Pennsylvania judge was urged in a set of briefs filed Wednesday and Thursday to preserve coverage for claims arising from a fatal Philadelphia building collapse despite allegations that a demolition contractor made material misrepresentations on his insurance application.
U.S. District Judge Louis L. Stanton teed up American International Group's $306 million fight with the IRS for a spring trial Friday, openly rooting against a settlement in favor of letting a Manhattan jury decide whether the financial giant's deals with foreign banks had "economic substance" or whether they were merely designed to dodge taxes.
An insurer of a condo association and property manager told an Arizona federal judge on Thursday that it has no obligation to help defend a lawsuit by a condo owner who said she got sick from bird poop that piled up near her unit because of an exclusion in a policy.
A pair of insurers urged the Sixth Circuit on Thursday to uphold a ruling that they don't have to defend a project engineering firm in a lawsuit over a fatal explosion at a wastewater treatment plant where it supervised upgrades, asserting that an exclusion for claims stemming from the firm's professional services clearly bars coverage.
The market for cyber insurance policies in the U.S. totaled about $1 billion in written premiums in 2015, with American International Group Inc. holding the largest market share, according to a new Fitch Ratings Inc. report released on Wednesday.
Twenty-six self-insured companies that got the Sixth Circuit to vacate a $30 million settlement resolving class action antitrust claims against Blue Cross Blue Shield of Michigan cannot intervene as the matter proceeds on remand, a federal judge held Thursday, saying the litigation wasn’t remanded to reconsider a previously denied intervention request.
A Texas federal court found Thursday that Cincinnati Specialty Underwriters Insurance Co. can move forward with its claim it has no duty to indemnify or defend a subcontractor facing suit for mismarking a high school running track.
Montana's highest court has again asked a lower court to re-evaluate whether a $29 million settlement between directors at Tidyman's Management Services Inc. and shareholders protesting a merger was reasonable, after previously ruling that an American International Group insurer breached its duty to defend the executives in the litigation.
A construction design company accused of stealing a rival’s schematic plans for houses and selling them as its own told the Eleventh Circuit Wednesday that a Florida judge’s decision to let Mid-Continent Casualty Co. escape coverage of that dispute’s ultimate settlement was an error.
Aetna recently pulled out of several Affordable Care Act marketplaces, citing the financial blow of the government’s decision to block its $37 billion purchase of Humana, and experts said it was the latest sign that antitrust enforcement can work at cross-purposes to the health care reform law.
USG Insurance Services Inc. again Wednesday urged a Pennsylvania federal judge to keep alive its trade-secrets suit alleging a former broker went beyond breaking his employee contract by poaching the company’s clients and defecting to a competitor, calling the competing company hypocritical for bringing the same claims in similar suits.
By understanding four common reasons why law firm business development initiatives fail, we can more accurately define success, avoid pitfalls, and improve return on investment, says Adam Donovan, senior manager of patent business strategy at Fish & Richardson PC.
Technology services and software companies face a variety of insurance issues while negotiating licenses and other service agreements, particularly in this era of data breaches and cloud computing. There are five primary issues to keep in mind in order to safeguard company success, says Darren Teshima of Orrick Herrington & Sutcliffe LLP.
A defunct for-profit cosmetology school's insurance carrier paid $13.5 million to resolve False Claims Act allegations that the school helped students obtain sham high school diplomas in order to enroll at its locations and secure student loans for which they were not eligible, federal prosecutors said Wednesday.
Prudential Financial Inc. has agreed to pay $33 million to end a shareholder class action alleging the insurer's stock values tumbled when it revealed it had held onto money that should have been paid to policy beneficiaries or state unclaimed property funds, according to a settlement motion filed in New Jersey federal court Wednesday.
Former executives of a whey protein supplier accused by Land O’Lakes of selling it products tainted with urine byproduct secured quick favorable judgment Wednesday, and a group of insurers for the executives were also let off the hook by a Wisconsin federal judge for coverage of the debacle.
A Liberty Mutual unit asked the Eleventh Circuit to ax a ruling that the insurer must cover claims against Norfolk Southern Railway Co. stemming from a train's 2011 collision with a vehicle, asserting Wednesday that the lower court wrongly concluded a policy exclusion was not triggered.