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Insurance
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June 06, 2024
La. Commercial Property Co. Settles Storm Insurance Dispute
A Louisiana federal judge has dismissed a commercial property owner's coverage fight over windstorm damage after the company settled in arbitration with a group of 10 insurers.
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June 06, 2024
Cellular Fraud Ring Netted $9M In Fake Lost Phone Claims
Telephone providers and insurance companies were bilked out of $9 million over a six-year period by a scam that used stolen identities to trick them into replacing mobile devices, which were then resold outside the country, according to a guilty plea secured by federal prosecutors.
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June 06, 2024
11th Circ. Won't Revive State Farm Auto Policy Coverage Fight
The Eleventh Circuit affirmed Thursday the dismissal of a State Farm auto policyholder's proposed class action alleging the insurer breaches its own policies by routinely denying medical expense coverage based on an ambiguous "reasonableness" standard, finding that the policyholder's interpretation of the policy would render parts of it "meaningless."
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June 06, 2024
Wash. Judge Suggests Insurer Dragged Out IP Dispute
A Washington federal judge appeared unconvinced Thursday by a dental health insurer's argument that it acted honestly in pushing forward with trade secret claims even after the accused ex-employee returned her company-issued laptop that purportedly held sensitive information.
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June 06, 2024
Insurer Off The Hook For $3.4M Nursing Home Death Verdict
A Berkshire Hathaway unit needn't cover a $3.4 million default judgment entered against its insured in a wrongful death suit, an Illinois federal judge determined, finding that the insured nursing home "did not meet its own reporting and cooperation obligations under the policy."
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June 06, 2024
8th Circ. Affirms Cigna Noncompete Applies To CVS Hire
The Eighth Circuit has backed a lower court finding that blocked a healthcare industry executive from making a move to CVS, handing a win to Cigna in a case over trade secrets.
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June 06, 2024
State Farm Escapes Policyholder's Life Insurance GIPA Suit
An Illinois state court has permanently tossed a State Farm policyholder's privacy claims targeting family medical history questions the insurer asked as part of its life insurance underwriting process, agreeing with its argument that the state's Genetic Information Privacy Act doesn't apply to life insurance.
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June 06, 2024
Dollar Tree Mint's Injury To Toddler Not Covered, Insurer Says
The insurer of a breath mint manufacturer told a Missouri federal court that due to a pollution exclusion in its policy, it shouldn't have to defend against a suit alleging a toddler suffered severe esophageal injuries after swallowing freshening drops sold by Dollar Tree.
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June 06, 2024
In Reversal, Justices Say Insurer Has Standing In Ch. 11 Case
Truck Insurance Exchange can intervene in Chapter 11 bankruptcy proceedings of two manufacturing companies facing numerous asbestos injury claims, the U.S. Supreme Court ruled unanimously Thursday in a reversal of the Fourth Circuit, finding Truck qualifies as a "party in interest" under the Bankruptcy Code.
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June 06, 2024
Justices Affirm Taxing Of Estate On Insurance Payout
The U.S. Supreme Court affirmed on Thursday 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.
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June 05, 2024
Aluminum Co. Seeks Reversal Of $10M Coverage Cap
An aluminum supplier is urging the Fourth Circuit to reverse a lower court's ruling capping its damages at $10 million because of a molten material endorsement, arguing that the fire and water damage it sustained is separate and not subject to any sublimit or exclusion.
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June 05, 2024
Debevoise-Led Ambac Unveils 2 Deals Totaling $702M
Debevoise & Plimpton LLP-led Ambac Financial Group on Wednesday announced two deals totaling $702 million, as the insurance holding company said it agreed to sell its financial guarantee business for $420 million in cash and separately announced that it will purchase a majority stake in Beat Capital Partners for roughly $282 million.
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June 05, 2024
Chubb Needn't Cover $14.5M Mold Deal, 11th Circ. Says
A $14.5 million consent judgment that a Florida woman secured against her condominium's property manager over what she alleged was mold exposure cannot be enforced against a pair of Chubb insurers, the Eleventh Circuit affirmed, saying the manager's carriers did not breach their duty to defend.
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June 05, 2024
House Votes To Block Vets' Access To Gender-Affirming Care
The U.S. House of Representatives on Wednesday passed a $147.5 billion spending bill along mostly party lines funding military construction and the U.S. Department of Veterans Affairs, which would block veterans' access to gender-affirming care and which the White House has already threatened to veto.
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June 05, 2024
Fire Co. Shuts Down Insurer's $3.7M Subrogation Bid
A hotel's insurer cannot seek reimbursement from a fire protection company for its roughly $3.7 million coverage payment following a pipe rupture in the hotel's fire sprinkler system, an Ohio federal court ruled, finding the hotel and fire protection company waived their respective insurers' subrogation rights.
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June 05, 2024
4th Circ. Affirms Insurer's Win In Couple's Home Damage Suit
A West Virginia couple wasn't entitled to a new trial in a property damage coverage dispute, the Fourth Circuit ruled Wednesday, saying a lower court did not abuse its discretion or err in excluding the couple's expert witness and allowing the insurer's expert to testify.
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June 05, 2024
Attys For NY Life Workers Want $6.3M Cut Of $19M Deal
Current and former New York Life workers asked a New York federal court Wednesday to approve nearly $6.3 million in attorney fees in a $19 million proposed class action deal to end a suit accusing the insurance giant of unlawfully retaining shoddy proprietary investment options in their retirement plans.
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June 04, 2024
9th Circ. Backs Agency Denial Of Partnership's Crop Policy
The Federal Crop Insurance Corp. reasonably interpreted a policy that was canceled by an insurer after a farming partnership filed a claim seeking the full $1.9 million limit, the Ninth Circuit ruled Tuesday, affirming a decision backing the FCIC's conclusion that the operation didn't qualify for coverage.
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June 04, 2024
Franchise Co. Faces Sanctions For 'Frivolous' 7th Circ. Appeal
The Seventh Circuit has upheld a district court's order that restaurant franchise company Sun Holdings Inc. must pay insurer American Zurich a roughly $1.1 million arbitration award plus interest and attorney fees in a dispute over a workers' compensation policy, and ordered Sun Holdings to show cause for why further sanctions aren't warranted for a "frivolous appeal."
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June 04, 2024
Wildfire Attys Descend On Colo. As Xcel Litigation Ramps Up
Hundreds of lawsuits seeking to hold Xcel Energy responsible for a devastating 2021 Colorado wildfire are just the latest battleground for a relatively small community of lawyers who have been involved in some of the biggest catastrophic fire suits in the western U.S.
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June 04, 2024
Differences In Lost Car Resale Value Doom Class Certification
A Massachusetts judge has concluded that a group of drivers who want insurers to cover the lost value of their vehicles following crashes still can't show how liability could be established without an individualized assessment, dooming their latest bid for class certification.
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June 04, 2024
Ga. Appeals Court Pulls Trucker Back Into Crash Suit
The Georgia Court of Appeals revived in part a suit over who was at fault in a 2016 crash between an Iron Mountain Inc. truck and a car on a Peach State road, saying the lower court failed to acknowledge questions that could only be answered at trial.
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June 04, 2024
Canadian Funeral Co.'s Stock Jumps 58% On C$1.2B Sale
Toronto-based funeral, cremation and cemetery provider Park Lawn Corp. disclosed an agreement to sell the business for C$1.2 billion ($877.5 million) under the guidance of Bennett Jones LLP and Morgan Lewis & Bockius LLP, leading the company's stock to jump more than 58% on Tuesday.
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June 04, 2024
Liberty Mutual Wants NJ Judge Removed From Accident Case
Liberty Mutual urged a New Jersey federal judge to recuse himself from a construction accident coverage case Monday arguing that he failed to disclose at the beginning of litigation that he holds multiple policies with the insurer dating back to 1980 and was previously investigated over a missing jewelry claim.
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June 04, 2024
Manning Kass Adds 11 Insurance Attys From Morrison Mahoney
Manning & Kass Ellrod Ramirez Trester LLP has expanded its New York roster with a team of 11 attorneys and six paralegals from Morrison Mahoney LLP, saying Tuesday that the hires will bolster its work in insurance fraud and affirmative litigation.
Expert Analysis
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Breaking Down Insurers' Improper Recoupment Efforts
In a recent trend, insurance companies have sought to recoup defense costs from their policyholders, but there are four counterarguments that policyholders can deploy to fend off these concerning recoupment efforts, say William Passannante and Nicholas Bradley at Anderson Kill.
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M&A Ruling Buoys Loss Calculation Method, R&W Insurance
The recent Southern District of New York decision in Taylor Precision Products v. Larimer affirms the use of EBITDA as a basis to quantify loss, highlighting the potential shortcomings of a traditional seller indemnity compared to representation and warranty insurance, say Mark Schwartz at Lockton, and William O’Neil and Gretchen Scavo at Winston & Strawn.
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Unlocking Value In Carve-Out M&A Transactions
Some of the largest mergers and acquisitions in 2023 were carve-out transactions, and despite their unique intricacies and challenges, these transactions offer both buyers and sellers the opportunity to generate outsized returns in an otherwise vigorously competitive landscape, when carefully planned and diligently executed, say Kevin Crews and Rami Totari at Kirkland.
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Tips For Negotiating Strong D&O Insurance Protection
Excerpt from Practical Guidance
D&O insurance is often the last line of defense for the personal assets of a director or officer, so taking the time to negotiate improvements to their D&O policies and ensuring that the coverage is appropriate for the insureds' risk profile can greatly improve the chances that their policies will protect them when they need coverage the most, says Thomas Bentz at Holland & Knight.
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Attorneys, Law Schools Must Adapt To New Era Of Evidence
Technological advancements mean more direct evidence is being created than ever before, and attorneys as well as law schools must modify their methods to account for new challenges in how this evidence is collected and used to try cases, says Reuben Guttman at Guttman Buschner.
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Insurers Should Prepare For 'Black Swan' Climate Disasters
As rapid climate change results in increased risk of casualties and property loss from rare, severe weather events, the insurance industry should take five crucial steps toward evolving and continuing operations, including advanced analytic techniques and investments in alternative energy sources, say Stephen Brown and Irena Maier at Wilson Elser.
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Series
ESG Around The World: The UK
Following Brexit, the U.K. has adopted a different approach to regulating environmental, social and governance factors from the European Union — an approach that focuses on climate disclosures by U.K.-regulated entities, while steering clear of the more ambitious objectives pursued by the EU, say attorneys at Dechert.
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Tips For Litigating Against Pro Se Parties In Complex Disputes
Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.
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Opinion
Air Ambulance Ch. 11s Show Dispute Program Must Resume
Air Methods’ recent bankruptcy filing highlights the urgent need to reopen the No Surprises Act’s independent dispute resolution program for air ambulances, whose shutdown benefits insurance companies and hurts providers, says Adam Schramek at Norton Rose.
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How Ill. Supreme Court Could Shape Statutory Violation Cases
In Fausett v. Walgreens, the Illinois Supreme Court will take up the question of whether a violation of the Fair and Accurate Credit Transactions Act satisfies the injury-in-fact requirement, and any outcome could significantly change the litigation landscape in Illinois, say Donald Patrick Eckler and Joshua Zhao at Freeman Mathis.
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Pro Bono Work Is Powerful Self-Help For Attorneys
Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.
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Creating A Safe Workplace Goes Beyond DEI Compliance
The Financial Conduct Authority and Prudential Regulation Authority recently proposed a new diversity and inclusion regulatory framework to combat sexual harassment in the workplace, and companies should take this opportunity to holistically transform their culture to ensure zero tolerance for misconduct, says Vivek Dodd at Skillcast.
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3 Quirks Of New Jersey Insurance Coverage Law
There are a multitude of state-specific requirements and nuances that make New Jersey insurance law unique, including in the areas of duty to defend, reservation of rights and bad faith, say attorneys at Goldberg Segalla.
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Series
Playing In A Rock Cover Band Makes Me A Better Lawyer
Performing in a classic rock cover band has driven me to hone several skills — including focus, organization and networking — that have benefited my professional development, demonstrating that taking time to follow your muse outside of work can be a boon to your career, says Michael Gambro at Cadwalader.
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Series
The Pop Culture Docket: Judge Espinosa On 'Lincoln Lawyer'
The murder trials in Netflix’s “The Lincoln Lawyer” illustrate the stark contrast between the ethical high ground that fosters and maintains the criminal justice system's integrity, and the ethical abyss that can undermine it, with an important reminder for all legal practitioners, say Judge Adam Espinosa and Andrew Howard at the Colorado 2nd Judicial District Court.