More Insurance Coverage
-
February 28, 2024
Trump Can't Freeze $465M Penalty But Can Seek Loans
A New York state appellate judge on Wednesday refused to freeze the $465 million civil fraud judgment against Donald Trump while he appeals the award, but said the former president could take out loans to cover the cost of the judgment.
-
February 28, 2024
Plastic-Maker Says Insurers Must Cover Worker Death Suit
Ohio-based manufacturer Encore Plastics took Travelers Property Casualty Co. of America and American Guarantee & Liability Insurance Co. to federal court, claiming both companies are violating their policies by refusing to defend or indemnify it in an underlying suit over one of its workers' death in an industrial accident.
-
February 27, 2024
Fla. Judge Says Yacht Suit Doesn't Support Punitive Damages
A Florida federal judge has recommended that punitive damages sought in a bad faith lawsuit against Travelers over failing to properly investigate a damaged yacht claim should be tossed, saying that the allegations don't support the higher standard needed to show malicious behavior or reckless disregard by the insurance company.
-
February 26, 2024
Ex-Bank CFO Cops To $700K Theft And Life Insurance Scam
An ex-Eastern International Bank chief financial officer has pled guilty to defrauding the bank out of more than $700,000 to pay his personal expenses, and he admitted to opening life insurance policies in the names of bank employees to benefit his wife, according to the U.S. Department of Justice.
-
February 26, 2024
Ponzi Schemer To Be Resentenced After High Court Ruling
A man who pled guilty to running a Ponzi scheme that targeted elderly victims will be resentenced after prosecutors agreed to dismiss an aggravated identity theft count following a U.S. Supreme Court ruling that narrowed the type of conduct that triggers the identity theft statute.
-
February 26, 2024
Teva Tells 1st Circ. Feds Must Clear High Bar In FCA Case
Teva Pharmaceuticals told the First Circuit on Monday that the federal government should be held to — and cannot meet — a strict causation standard in a False Claims Act kickback case, asking the court to settle a matter of first impression in the circuit.
-
February 26, 2024
New York Life To Pay $19M To Settle Retirement Plan Suit
Current and former New York Life Insurance workers asked a federal court Monday to approve a $19 million deal in a proposed class action alleging the insurance giant unlawfully kept underperforming proprietary investment options in two employee retirement plans.
-
February 26, 2024
Estate Correctly Taxed On Insurance Payout, Justices Told
The U.S. Supreme Court should affirm a decision denying a tax refund to the estate of an owner of a building materials company that used a payout from his $3.5 million life insurance policy to purchase his shares in the business, the federal government argued.
-
February 26, 2024
Justices Pass On Venue Fight In Erie Indemnity Fees Suit
The U.S. Supreme Court on Monday declined to review the Third Circuit's refusal to transfer a case challenging Erie Indemnity Co. management fees from state court back to federal court, preserving the lower court's precedential ruling that the matter does not qualify as a class action under the Class Action Fairness Act.
-
February 23, 2024
CFPB Subjects Lender To Supervision In 1st Oversight Flex
The Consumer Financial Protection Bureau said Friday that it has decided to require supervision for one of the nation's largest personal installment lenders, a move that marks the first time the agency has flexed its special risk-based oversight power over a company's objections.
-
February 23, 2024
State Farm Alleges Health Co. Violated Deal To Drop 366 Suits
Two State Farm units are accusing an automobile accident-focused healthcare center of wrongly pursuing 366 lawsuits against the insurer despite a settlement agreement State Farm said requires the facility to drop those suits.
-
February 23, 2024
Insurance M&A Partner From Sidley Joins Kirkland
Kirkland & Ellis LLP has added a corporate partner in its insurance transactions and regulatory and financial institutions practice groups, bringing on a former Sidley Austin LLP attorney who said he "couldn't be more excited" to join the firm's Chicago office.
-
February 23, 2024
With Interest, Trump Now Owes $454M For NY Valuation Fraud
Donald Trump owes New York state nearly a half billion dollars after a county clerk on Friday tacked on $99 million in interest linked to a $355 million judgment in the state attorney general's civil fraud case against the former president last week.
-
February 23, 2024
Taxation With Representation: Gibson Dunn, Wachtell
In this week's Taxation with Representation, two asset managers invest in AITi Global, Chord Energy Corp. buys Enerplus Corp. and Truist sells an insurance subsidiary to an investor group led by private equity firms.
-
February 22, 2024
Stressful Atty Work Can Warrant Disability Pay, Judge Says
A Virginia federal judge held Wednesday that a cybersecurity attorney whose doctors advised that he stop working after heart surgery shouldn't have had his long-term disability benefits claim denied, ruling that a life insurance company ignored evidence that his job was highly stressful and that stress could be dangerous.
-
February 22, 2024
Chancery Defers Settlement To Ponder Control Challenges
Hopes for a quick end to litigation between a Texas-based insurance provider and a stockholder who sued over disproportionate insider control slipped away at a hearing in Wilmington, Delaware, Thursday after the presiding judge demanded to know how related Chancery Court litigation might affect a proposed settlement.
-
February 22, 2024
DOJ Reports $2.7B False Claims Act Haul In 2023
The U.S. Department of Justice on Thursday released its latest data on recoveries under the False Claims Act, saying there were nearly $2.7 billion in settlements and judgments in the 2023 fiscal year, an increase from the prior year's haul.
-
February 22, 2024
Total Vision's Antitrust Suit Against VSP Kept Largely Intact
Total Vision can move forward with most antitrust claims accusing eye care insurance giant VSP of hamstringing it and trying to force an acquisition at a dramatically reduced price, after a California federal judge said VSP cannot summarily duck behind a deal signing away Total Vision's rights to sue.
-
February 22, 2024
Vesttoo Liquidation Delayed For Closer Look At Creditor Deals
A Delaware bankruptcy judge on Thursday postponed deciding the fate of Israeli financial technology firm Vesttoo Ltd.'s liquidation plan until early next week to give the remaining objector to the proposal time to review settlements the debtor reached with prior challengers.
-
February 22, 2024
Kaufman Dolowich Adds Partner In New Delaware Office
Kaufman Dolowich has added to its newly launched Delaware office the former co-managing partner of Weber Gallagher Simpson Stapleton Fires & Newby LLP's office in the First State.
-
February 21, 2024
Del. Suit Accuses Healthcare Data Co. Exec Of Insider Trading
A stockholder launched a derivative lawsuit late Wednesday in Delaware's Court of Chancery, alleging the founder of a behavioral healthcare data firm traded company shares using insider information and that nearly a dozen current and former directors and officers provided false and misleading disclosures about the business.
-
February 21, 2024
Pa. High Court Returns Insurer's Status Question To 3rd Circ.
The Pennsylvania Supreme Court reversed its decision to consider whether a state-created insurer of last resort is a public or private entity, sending the case back to the Third Circuit on Wednesday after determining that the question was a matter of federal law.
-
February 21, 2024
Wyden Plans Clampdown On Private Placement Life Insurance
Senate Finance Committee Chairman Ron Wyden plans a legislative push to thwart abuse of private placement life insurance, according to a report he released Wednesday that called the arrangements a tax shelter worth at least $40 billion that benefits a small group of very wealthy people.
-
February 21, 2024
Barnes & Thornburg Beats Ga. Malpractice Claim On Appeal
A Georgia state appeals court has upheld the dismissal of a legal malpractice claim brought by a trustee for a former Barnes & Thornburg LLP client, finding there was "no merit" to her arguments that the firm violated the standard of care and sunk the trust's insurance suit.
-
February 21, 2024
Fla. Senate Panel OKs $900M Tax Plan With Insurance Tax Cut
Florida would offer exemptions for insurance taxes and reenact a series of sales tax holidays under a bill that a Senate committee approved offering $900 million in tax reductions.
Expert Analysis
-
SEC's Climate Rules Promote Compliance, Not Real Change
Compliance with the U.S. Securities and Exchange Commission’s proposed new rules requiring corporate disclosures of activities and risks associated with climate change will be performative, and the flawed rules will fail at their primary purpose — giving investors and stakeholders actionable information, say Nir Kossovsky and Denise Williamee at Steel City Re.
-
Cos. In Port Areas Face Growing Longshore Act Claims Risk
Trucking companies and other businesses with operations located near waterfront cargo terminals should be aware that courts' inconsistent application of the Longshore and Harbor Workers' Compensation Act could increase their exposure to workers' compensation litigation, says Matthew Malouf at Bauer Moynihan.
-
What Ohio's 'Surprise Billing' Ban Means For Providers
Ohio's new law prohibiting certain out-of-network billing practices presents some difficult issues for providers — especially rural providers — to navigate, and likely will lead to inconsistent reimbursement rates and considerable administrative costs, say attorneys at Dinsmore.
-
SG Must Take A Stand On Medical Cannabis Reimbursement
The solicitor general's expected brief in Musta v. Mendota Heights Dental Center — on whether the U.S. Supreme Court should resolve how federal drug laws affect state laws requiring workers’ compensation benefits for medical marijuana treatment — will need to make a clear recommendation, because the cannabis industry can no longer tolerate half measures, says David Standa at Greenspoon Marder.
-
Best Practices For Boards, Execs After SEC's Cyber Proposal
The U.S. Securities and Exchange Commission's recently proposed cybersecurity disclosure rules signal that officers and directors, not just companies, may find themselves in the SEC's crosshairs over cyber incidents and disclosure failings, but several best practices and steps can help minimize their risk, says Matthew Dunn at Carter Ledyard.
-
A Workers' Comp. Defense Refresher For Georgia Employers
With workers’ compensation claims projected to increase as employees return to the workplace amid a slowing pandemic, Georgia employers and insurers should understand the available defenses under state law, including willful misconduct and intoxication, to protect against liability, say Debra Chambers and Nichole Novosel at Swift Currie.
-
Group Plan Questions After Telehealth Coverage Extension
The recently enacted Appropriations Act extends a pandemic-era provision allowing health benefit plans to provide predeductible coverage for telehealth services, but without more permanent guidance from the IRS or Congress, key questions remain about retroactive liability and long-term solutions, say attorneys at King & Spalding.
-
Justices Must Apply Law Evenly In Shadow Docket Rulings
In recent shadow docket decisions, the U.S. Supreme Court has inconsistently applied the requirement that parties demonstrate irreparable harm to obtain injunctive relief, which is problematic for two separate but related reasons, says David Hopkins at Benesch.
-
9th Circ.'s Hasty UnitedHealth Reversal Is Disappointing
The Ninth Circuit’s recent decision to overturn a ruling that ordered a UnitedHealth subsidiary to reassess thousands of behavioral health benefit claims treats the district court’s detailed findings with surprising haste and is open to serious question that cries out for en banc review, says Mark DeBofsky at DeBofsky Sherman.
-
ERISA Ruling Was Right To Seal Sensitive Records
An Ohio federal court’s recent decision to seal the record in Price v. Hartford Life and Accident Insurance, and comparable rulings in other jurisdictions, shows that the sensitive information standard that limits access to Social Security records should apply to Employee Retirement Income Security Act claim files that are similar in nature, says Mark DeBofsky at DeBofsky Sherman.
-
Supply Chain Issues Put Carmack Preemption In Spotlight
As U.S. businesses continue to struggle with supply chain problems, claims for losses and damages during shipping are likely to increase — so companies should make sure they understand how the Carmack Amendment preempts most state law claims related to carrier liability for cargo loss, and what the exceptions are, says Andrew Steif at Gunster.
-
Aviation Watch: How Russia Sanctions Will Affect Aviation
Sanctions levied against Russia in the wake of its invasion of Ukraine will likely leave the country with almost no national air transport industry, but will also have significant impacts on the Western aviation sector as well, from complicating flight paths to jeopardizing leasing arrangements, says Alan Hoffman, a retired attorney and aviation expert.
-
Why Climate Plaintiffs Are Filing Securities, Consumer Suits
While U.S. climate change lawsuits against carbon majors based on public nuisance tort claims have largely ended up in a procedural and jurisdictional maze, climate plaintiffs may be more successful with claims based on state securities and consumer protection laws, say Nick Dolejsi and Kyle Espinola at Zelle.