Insurance Law360 provides breaking news and analysis on insurance law. Coverage includes high-stakes cases against major insurance carriers, brokers, and reinsurers, as well as relevant policy developments and corporate deals.
Genworth Financial Inc., which is being sued for nearly £265 million ($351 million) by rival French insurer AXA SA over a missold insurance product, can seek to shift the blame onto two British units of Santander, London’s High Court has said.
Counsel for a defunct hedge fund called on a New Jersey state court Friday to cut a roughly $5.4 million compensatory verdict won by Fairfax Financial Holdings Ltd. and its subsidiary by the amount of blame attributed to settling defendants in an alleged scheme to lower the Canadian insurance company’s share price.
The New Jersey Supreme Court has disbarred an estate planning attorney who had admitted to stealing client funds and agreed to pay over $300,000 in restitution, according to an order made public Friday.
A driver argued in Georgia federal court Friday that J.D. Power & Associates and Mitchell International are far from the innocent bystanders they make themselves out to be in their motion to dismiss proposed class claims that they and State Farm Insurance purposely undervalued totaled cars.
The last week has seen a commercial fraud claim filed against the founders of now-defunct sports marketing giant MP & Silva, Kuwait's social security agency sue several Swiss banks and its former head, and AXA lodge an action against the company behind Admiral Insurance. Here, Law360 looks at those and other new claims in the U.K.