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Results: 1-10 of 182

Federal court orders insurer to produce reinsurance information, despite acknowledging split among courts on the issue
  • Locke Lord LLP
  • USA
  • January 11 2011

Suffolk Federal Credit Union ("SFCU") brought an action against Cumis Insurance Society to recover certain losses arising under a fidelity bond


Court holds that D&O policy does not cover internal investigations or costs in responding to SEC investigations
  • Locke Lord LLP
  • USA
  • December 14 2010

A federal court in Florida ruled this fall that a D&O policy does not cover the insured company's costs in responding to an SEC investigation, nor its internal investigation costs in response to a whistleblower complaint


New York State court finds that follow the settlements doctrine does not apply
  • Locke Lord LLP
  • USA
  • August 16 2010

Recently, in American Home Assurance Co. v. American Re-Insurance Co., No. 60248506 (N.Y. Sup. Ct. May 27, 2010), the Supreme Court, New York County (Ramos, J.) granted Defendants’ (the reinsurers’) summary judgment motions, finding that Plaintiffs’(the insurers’) claims were not reasonably within the scope of or arguably covered by its underlying policies with Monsanto


Federal Court calls "individual mandate" unconstitutional
  • Locke Lord LLP
  • USA
  • December 16 2010

A Federal Court in Virginia ruled on December 13 that the provision of the Patient Protection and Affordable Care Act requiring most Americans to carry insurance or pay a fine is unconstitutional


Third Circuit revives limited portions of in re: insurance brokerage antitrust litigation (MDL 1663)
  • Locke Lord LLP
  • USA
  • August 18 2010

Nearly three years after a federal district court dismissed with prejudice a nationwide class action alleging antitrust and RICO claims against insurers and brokers in connection with contingent commission arrangements, the Third Circuit Court of Appeals has revived a limited swath of plaintiffs' claims


Connecticut Supreme Court limits Attorney General’s power to disclose documents subpoenaed from insurer
  • Locke Lord LLP
  • USA
  • August 13 2010

Last week, the Connecticut Supreme Court issued a ruling in which it placed several restrictions on the uses that the Connecticut Attorney General (AG) may make of documents subpoenaed from a Florida-based insurer during an antitrust investigation


Massachusetts Appeals Court holds that bad faith statute applies to captive insurers
  • Locke Lord LLP
  • USA
  • December 10 2010

The Massachusetts Appeals Court recently ruled that the state's statute governing insurance companies' claims settlement practices applies to captive insurers


First Circuit remands D&O coverage dispute for allocation
  • Locke Lord LLP
  • USA
  • November 2 2010

Reversing a district court holding to the contrary, the First Circuit has declared that Massachusetts public policy does not prohibit D&O carriers from insuring against damages allegedly incurred by one class of shareholders as a result of an unfair benefit conferred on another class of shareholders


Court finds insurers no longer required to advance defense costs for certain Stanford individuals due to money laundering exclusion
  • Locke Lord LLP
  • USA
  • November 2 2010

After a preliminary injunction hearing, the United States District Court for the Southern District of Texas has determined that D&O insurers for the Stanford Financial Group and various related entities are no longer required to advance defense costs relating to criminal charges and civil litigation filed against Mark Kuhrt, Gilbert Lopez and R


Judge allows healthcare reform challenge to move forward
  • Locke Lord LLP
  • USA
  • October 25 2010

On October 14, a federal judge declined to dismiss two of the six claims in a healthcare reform lawsuit filed by 20 states