More Insurance Coverage

  • February 09, 2024

    Feds Seek Over 5 Years For NYC Atty In $18.8M Ponzi Scheme

    Federal prosecutors are seeking 5¼ to 6½ years in prison for a New York City attorney who admitted to running an $18.8 million Ponzi scheme that defrauded real estate investors, in addition to separately laundering funds from an expansive insurance fraud scheme.

  • February 08, 2024

    Texas Adjuster No Longer To Pretend To Be Lloyd's Of London

    An insurance adjuster who hijacked the good name of British underwriting giant Lloyd's of London after blaming it for lost compensation agreed in Texas federal court to shut down businesses he opened in its name.

  • February 08, 2024

    Del. Chancery Questions Broker's 'Ornate' Board Control Fix

    Bylaw amendments adopted by insurance broker BRP Group Inc. in response to a shareholder's complaint that its co-founders wielded too much control over the company's board may have "narrowed" the problem but did not necessarily eliminate it, a Delaware Chancery Court vice chancellor said Thursday at a hearing in Wilmington.

  • February 08, 2024

    Insurer Says Policy Won't Cover $1.3M Title Agency Defense

    An insurer wants a North Carolina federal court to rule that a policy excludes defending a title insurance agency in an underlying lawsuit alleging the agency worked with an unapproved and financially questionable law firm, costing an underwriter at least $1.25 million.

  • February 08, 2024

    Ebix Investors Seek Creation Of Ch. 11 Equity Committee

    Insurance software maker Ebix's shareholders have moved to have the U.S. Trustee's Office appoint an official committee of equity holders in the company's Chapter 11 case, arguing the business is clearly solvent, and that a separate fiduciary entity is needed to protect value for the benefit of investors.

  • February 08, 2024

    Insurance Orgs. Say Bill Would Prevent CFPB Overreach

    Bipartisan legislation seeking to clarify the powers of the Consumer Financial Protection Bureau has drawn support from insurance regulators and industry trade groups who say the bureau has encroached upon state-based insurance regulation despite clear statutory limitations.

  • February 08, 2024

    Insurer Improperly Settled Shooting Claims, Court Told

    A Seattle-based housing provider said its primary insurer improperly tendered policy limits to settle two underlying claims alleging the provider was liable for deadly shootings near its apartment buildings in Georgia, telling a Washington state court that its insurer's actions have diluted its coverage for other claims.

  • February 08, 2024

    NY Judge Scolds Trump Attys For Response To Perjury Query

    The New York state judge overseeing Donald Trump's civil fraud trial on Thursday chastised defense attorneys for their "misleading" response to his demands for information about reports of possible perjury by defendant and key trial witness Allen Weisselberg.

  • February 07, 2024

    NYCB Faces Investor Suit Over Signature Bank Takeover 

    New York Community Bancorp has been hit with a class action by an investor who claims the bank failed to disclose that it had a deteriorating book of loans which would, in turn, cause major losses and force it to cut its quarterly dividend to preserve capital, following its acquisition of assets from the now-defunct Signature Bank. 

  • February 07, 2024

    Trump Trial Judge Gets Little Info On Exec's Alleged Perjury

    An attorney for Donald Trump and his companies' former chief financial officer Allen Weisselberg told the New York state judge presiding over their civil fraud trial Wednesday that she could not respond to "unsubstantiated" reports that the ex-CFO was in plea negotiations for allegedly lying on the stand, citing her ethical obligations.

  • February 07, 2024

    REIT Raises $672M IPO At Low End While Insurer Pulls Plans

    Senior housing real estate investment trust American Healthcare REIT Inc. rose in debut trading Wednesday after pricing a $672 million initial public offering at the bottom of its range, while insurer The Fortegra Group Inc. canceled its offering given market conditions, revealing mixed signals about the nascent IPO recovery.

  • February 07, 2024

    House Panel's Top Dem Floats Bill To Require Automatic IRAs

    The House Ways and Means Committee's top Democrat introduced legislation Wednesday that would expand workers' retirement coverage by requiring employers with 10 or more employees to establish a federal automatic individual retirement account program.

  • February 06, 2024

    Houston Firm Lied About Document Retention, Appraiser Says

    A state court judge on Tuesday agreed to extend the discovery period in a $115,000 contract dispute between an insurance appraiser and a Houston law firm but declined to rule on whether the office should be sanctioned over allegations that it lied about how long it retained client files.

  • February 06, 2024

    Chubb Unit Must Cover Lightning-Struck Yacht, Court Told

    A yacht's former owner told a Florida federal court that a Chubb unit breached its contract by not paying for damage that occurred after the $13.5 million vessel was struck by lightning while headed for repairs for flooding caused by a toilet valve malfunction.

  • February 06, 2024

    Wealth Co. Says Insurers Owe Coverage In Meth Suits

    A Seattle wealth management company told a Washington state court that its insurers have improperly withheld defense coverage for underlying suits alleging a trust beneficiary harmed his condominium neighbors by using and manufacturing meth.

  • February 06, 2024

    NY Judge Wants Info On Perjury Probe Of Trump Lieutenant

    A New York state judge weighing the evidence in Donald Trump's civil fraud trial demanded more information Tuesday about reports that a key trial witness, former Trump Organization Chief Financial Officer Allen Weisselberg, is facing perjury charges for his testimony in the case.

  • February 05, 2024

    Fla. Says New CMS Mandate Threatens Kids' Health Coverage

    Florida claims in a new suit that the Centers for Medicare & Medicaid Services is trying to turn its subsidized health insurance program for children into a "free-for-all" by prohibiting the state from terminating coverage for children whose families fail to pay required monthly premiums.

  • February 05, 2024

    Zymergen Ch. 11 Plan Confirmed After Investor Objection

    Biotechnology company Zymergen received confirmation of its Chapter 11 plan Monday at a hearing in Delaware bankruptcy court after resolving an objection to the plan from a class of investors suing the company.

  • February 02, 2024

    3 Arguments, Hearings Benefits Attys Should Watch In Feb.

    This month, the Fifth Circuit will hear a battle over the arbitration process for challenging surprise medical bills, the Federal Circuit will referee a NASA worker's bid to get his military leave suit back on track, and Clorox will try to sink a 401(k) forfeitures class action. Here are three court dates benefits attorneys might want to add to their calendars.

  • February 02, 2024

    Med Biller Who Posed As NBA Star, NFL Atty Gets 12 Years

    A Long Island medical biller was sentenced to 12 years in prison Friday after being convicted of bilking over $600 million from insurance companies through fraudulent billing submissions and impersonating NBA star Marcus Smart and the NFL's general counsel.

  • February 02, 2024

    Claims Against BNSF Cut From $1.3M Derailment Dispute

    A Washington federal judge trimmed several claims against BNSF Railway Co. and a transportation contractor from Starr Indemnity & Liability Co.'s $1.3 million suit over a shipment of clothing destroyed in a train derailment, finding they were preempted by federal law.

  • February 02, 2024

    Insurer Pushes To Freeze Mogul's Assets In $524M Fight

    An insurer urged a North Carolina federal court to stop the cash flow of an embattled insurance mogul, arguing that a recently announced business deal could result in him liquidating assets and moving his finances offshore as a means of avoiding a $524 million judgment.

  • February 02, 2024

    Latham Led Firms In January IPOs As New Listings Pick Up

    Latham & Watkins LLP assumed work on more initial public offerings than any other law firm in January, steering five IPOs for companies and underwriters during a month that saw a rise in new listings that could portend additional momentum beyond February.

  • February 01, 2024

    Ex-Trump Org. CFO Faces Possible Perjury Charge, Mulls Plea

    Donald Trump's longtime top financial officer Allen Weisselberg is in plea negotiations related to potential perjury charges stemming from his testimony in the New York attorney general's civil fraud trial, according to a source familiar with the matter.

  • February 01, 2024

    Tenn. Resident Says State Farm Marketing Calls Violated TCPA

    State Farm used a third-party company to make automated telemarketing calls without prior consent, violating the Telephone Consumer Protection Act, according to a proposed class action filed in Illinois federal court.

Expert Analysis

  • NYC Office Tower Ch. 11 Shines Light On Blocking Provisions

    Author Photo

    PMW Management's Chapter 11 filing, which recently received extra time to submit a restructuring plan, highlights courts' increasing skepticism of bankruptcy blocking provisions and favoritism toward leaving bankruptcy restructuring plans in the hands of the debtor, say Jeff Marwil and Ashley Weringa at Proskauer.

  • What's At Stake In Justices' FCA Qui Tam Dismissal Review

    Author Photo

    The Supreme Court's decision next term in U.S. v. Executive Health Resources could hold that the government cannot dismiss a qui tam action in which it initially declined intervention, which would mean the government must expend more resources vetting False Claims Act cases and give relators free rein as prosecutors of their cases, say attorneys at Ropes & Gray.

  • How To Avert Unlawful Poaching Amid Rising Antitrust Risks

    Author Photo

    Despite the uptick in labor market antitrust enforcement actions, no-poach agreements can be helpful in preventing unfair competition resulting from misuse of confidential or competitively sensitive information — when tailored appropriately and used with best practices to reduce risk, say attorneys at Ropes & Gray.

  • Skinny Labels' Future May Hinge On Teva Petitioning Justices

    Author Photo

    Generic-drug makers may get much-needed clarity on their use of so-called skinny labels, which only seek approval for unpatented uses, if Teva Pharmaceuticals petitions for certiorari in the GlaxoSmithKline Coreg case by its July 11 deadline, says Paul Kalish at Fox Rothschild.

  • 6th Circ. ERISA Ruling Shows Scope Of Fiduciary Liability

    Author Photo

    The Sixth Circuit's recent partial revival of a widow's lawsuit alleging Walmart violated federal benefits laws serves as a stark reminder of how those who are only supposed to perform ministerial functions can inadvertently expose themselves to fiduciary liability by undertaking fiduciary actions, say Samantha Kopacz and Nhan Ho at Miller Canfield.

  • And Now A Word From The Panel: MDL Travel

    Author Photo

    The Judicial Panel on Multidistrict Litigation’s return to in-person proceedings, as well as a recent petition in an insurance-related MDL, highlight an important question about whether the panel will continue to consider travel convenience as a relevant factor in venue decisions after two years of virtual hearings, says Alan Rothman at Sidley.

  • Employer Travel Benefits Options For Abortion Care Post-Roe

    Author Photo

    Given the likelihood that Roe v. Wade will be overturned, and with the proliferation of state legislation restricting abortion access, employers may want to consider the legal implications of several options to expand travel reimbursement benefits for employees who seek abortion services, say Danita Merlau and Ben Conley at Seyfarth.

  • ERISA Ruling Shows Lax Enrollment Practices Can Be Costly

    Author Photo

    The Eighth Circuit’s recent decision in Skelton v. Reliance Standard, finding that a life insurance company breached its Employee Retirement Income Security Act fiduciary duties by accepting premiums without approving coverage, admonishes insurers to communicate with employers and to maintain clear records of eligible enrolled participants, says Mark DeBofsky at DeBofsky Sherman.

  • Lessons For Gov't Contractors Amid Increased Antitrust Risk

    Author Photo

    A review of recently ramped-up Procurement Collusion Strike Force enforcement yields important lessons for government procurement companies, which are particularly susceptible to anti-competitive risks, on corporate antitrust awareness and robust compliance, say Rachel Guy and James McGinnis at Sheppard Mullin.

  • Private Insurers Must Watch Out For Medical Equipment Fraud

    Author Photo

    Recent trends indicate that it is extremely rare for the government to prosecute those involved in health care fraud against private insurers, especially in cases involving durable medical equipment, so private insurers must take steps to investigate and detect fraudulent schemes, says Michael Vanunu at Rivkin Radler.

  • 4th Circ. ERISA Ruling Shows Plan Discretion Is Not Limitless

    Author Photo

    The Fourth Circuit’s recent decision in Garner v. Central States, holding that a benefit plan had abused its discretion in denying a claim for surgery, clarifies that the Employee Retirement Income Security Act's review standard is not a rubber stamp of plan determinations, and shows where the outer limits of discretion end, says Mark DeBofsky at DeBofsky Sherman.

  • Clients' Diversity Mandates For Law Firms Are Necessary

    Author Photo

    Coca-Cola recently scrapped its proposed diversity staffing requirements for outside counsel, and other companies may be reassessing their mandates due to external pressures, but it is important to remember the myriad factors supporting these policies and why they are more important now than ever before, says David Hopkins at Benesch Friedlander.

  • 5 Questions That Can Help Law Firms Win RFPs

    Author Photo

    As the volume of matter-specific requests for proposals continues to increase in the legal market, law firms can take some new steps to fine-tune their RFP response-drafting process and strategy, says Matthew Prinn at RFP Advisory Group.

Can't find the article you're looking for? Click here to search the Insurance Authority Other archive.