Wells Fargo gave up its right to preclude fiduciary duty claims over its alleged mismanagement of a securities lending portfolio by using a related jury verdict in its favor, a Minnesota federal judge ruled on Tuesday after the Eighth Circuit ordered a second look at the issue.
A speciality tile importer is claiming its excess insurance policy should cover it for the settlement of a shareholder suit despite an exclusion for prior wrongful acts, arguing the acts at issue weren’t “wrongful” until after the policy went into effect.
A Texas federal judge on Monday rejected Blue Cross Blue Shield of Louisiana’s request for judgment in its favor, reconsideration or a new trial in a $26 million contract suit brought by Encompass Office Solutions over the insurer’s alleged anti-competitive actions and refusal to cover insurance claims.
Hunt Construction Group Inc. asked a Texas federal judge on Friday to dismiss arbitration proceedings initiated by Cobb Mechanical Contractors in a dispute where Hunt is seeking $27 million for Cobb's failure to fulfill the terms of a contract to build the Fairmont Hotel in Austin, arguing there was no agreement to arbitrate.
The Ninth Circuit on Monday ruled a health insurance company isn’t entitled to funds from a wrongful death settlement reached by relatives of an insured, upholding an Arizona federal court’s ruling that because the estate of the deceased wasn’t involved in the settlement, MedCath couldn’t state a recovery claim.
Ruling on a matter of first impression in Oregon, a federal judge has found that carbon monoxide falls within the pollution exclusion in a liability insurance policy, foreclosing a swimming pool builder's bid for coverage of lawsuits alleging that its failure to properly install a pool heater caused several people to be sickened by the gas.
A MassMutual Life Insurance policyholder Monday asked a Massachusetts federal court for preliminary approval of a $37.5 million settlement of her putative proposed class action alleging the insurance company shorted policyholders on dividends.
The federal government on Monday urged a Utah federal court to reject the University of Utah’s attempt to recoup $2.9 million in taxes it paid related to its retirement plans, saying payroll tax exemptions for university student employees do not extend to medical residents.
U.K. Prime Minister Theresa May reaffirmed her promise Tuesday to pursue a transitional Brexit trade deal, but declined to offer details on how banks and businesses might be cushioned from the shock of quitting the European Union.
Foley & Lardner LLP on Monday urged a Wisconsin federal judge to throw out an insurance company’s lawsuit over the firm’s alleged mishandling of the insurer’s deal to purchase a claims processing technology company, saying the dispute has no reason to be in the state because both sides are citizens of Florida.
The most successful Am Law 200 law firms have evolved from being partner-run to being run by a group of highly skilled professionals reporting to firm shareholders. The data collected from our recent survey indicates this model is generally conducive to increased profitability, says Anita Turner, senior director at Colliers International.
Marriott International Inc. asked a Florida federal court Monday to dismiss a proposed class action over termination notices that allegedly fail to notify workers of their rights to continued health care coverage under the COBRA Act, arguing that the lead plaintiff failed to show she suffered any injury.
The U.S. Department of Justice urged the D.C. Circuit on Monday to uphold a decision blocking the proposed $54 billion Anthem-Cigna merger, arguing Anthem's claim the deal would save $2.4 billion in medical costs cannot be substantiated.
The Progressive Corp. on Monday urged a Florida federal judge to reject three health care providers' bid for class certification in their suit accusing the insurer of improperly invoking a state law cap on personal injury protection limits based on determinations it obtained from nontreating providers, arguing that the suit misrepresents its claims-handling practices.
Starr Indemnity & Liability Co. has wrongly denied coverage to Beechwood Re for costs the reinsurer faces in responding to investigations by federal regulators, and defending itself in a lawsuit over alleged links to collapsed hedge fund manager Platinum Partners LP, the reinsurer said on Friday in New York.
Anbang Insurance is reportedly investing more than $400 million in a Kushner New York tower, tech firm 1WorldSync is said to be leasing 22,247 square feet in Chicago, and a Sugar Hill Capital venture is reportedly buying a four-building New York rental portfolio for $60 million.
The JPMorgan Chase & Co. portfolio manager for a pair of complex investment vehicles faced tough questions Monday over why he and his team kept investors in residential mortgage-backed securities during the financial crisis to ultimately lose more than $1.4 billion.
Carlton Fields Jorden Burt PA has added a 25-year insurance veteran from Kaufman Dolowich & Voluck LLP to the firm’s property and casualty insurance practice group as a shareholder at its New York office, part of an ongoing effort to grow the firm’s national insurance practice.
A Pennsylvania appeals court on Monday affirmed that Widmer Engineering Inc. can't recover payments allegedly owed by a general contractor on a bridge replacement project under a bond issued by Penn National Insurance, holding that the engineering firm's services don't constitute "labor" covered by the bond.
A federal court Monday granted the city of Fort Myers, Florida, to intervene in an insurance dispute over a shooting that occurred during the city’s 2015 Zombicon.
California is experiencing record rains that can be as much a curse as a blessing, and insurance claims will follow these storms as surely as the sun follows the rain. Attorneys with Pillsbury Winthrop Shaw Pittman LLP offer an eight-step guide for identifying potential issues during the recovery process.
Republican plans to repeal and replace the Affordable Care Act could cause 24 million Americans to lose health insurance, the Congressional Budget Office estimated Monday.
The Travelers Companies Inc. said Monday it will purchase Simply Business from its private equity owner Aquiline Capital Partners LLC in a deal valued at $490 million, including debt, marking the second time the U.K. online business insurance broker has changed hands in the past year.
Orion Project Services LLC objected Friday to a federal magistrate judge’s recommendation that the court reject its argument that Ace American Insurance Co. had a duty to defend it in a suit brought by a worker slain in a 2013 terror attack, saying the judge used a too-narrow definition of “employee.”
The best outside counsel think like the client. That includes understanding the client’s perspectives and goals with regard to reaching a settlement — because “good results” mean different things for different clients. Outside counsel must ask themselves the right questions, and know the answers, to shape a client-focused settlement strategy, say Kate Jackson of Cummins Inc. and Patrick Reilly of Faegre Baker Daniels LLP.