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A Florida state jury has found bad faith in Mercury Insurance Co. of Florida’s dealings in the settlement of a car crash-related claim against its policyholder, which allegedly exposed the policyholder to an $8 million judgment that the victim then turned around and pursued Mercury for.
Insurance services company Patriot National Inc. on Tuesday filed for Chapter 11 protection in Delaware, blaming its financial woes on the loss of its biggest customer to receivership in Florida, with a strategy in hand to rework its balance sheet through a debt-for-equity swap with its lenders.
A Texas appellate court on Wednesday reversed a trial court’s ruling granting an early win to Texas Mutual Insurance Co. in a dispute over reimbursements with an air ambulance company, holding that the Airline Deregulation Act of 1978 preempts state laws governing the price an air carrier can charge.
The New Jersey Appellate Division on Wednesday determined in a published decision that the expedited repeal of a small-employer health benefits rule constitutes a permissible action under state guidelines, backing a new requirement that insurance carriers must disclose their basis for determining allowable charges for out-of-network benefits.
Key Safety Systems Inc., the prospective purchaser of bankrupt Takata Corp.’s assets, on Wednesday pushed the Sixth Circuit for a win in its coverage dispute with an AIG unit, saying the insurer is clearly obligated to pay its post-judgment interest.
Swiss insurer Starr International Co. Inc. won a $21 million tax fight Wednesday when a District of Columbia federal court declined to extend the government’s two-year statute of limitations to claim an erroneously issued tax refund.
A Florida federal judge on Tuesday denied summary judgment to both an insurer and a private security company in litigation over indemnity for two violent incidents outside of an Orlando venue that resulted in injuries to one patron and the death of another.
A struggling Massachusetts health insurer failed to show that the Affordable Care Act’s risk-adjustment program is unreasonable, a federal judge said Tuesday, finding that the federal government considered enough alternative options on its way to developing the program.
The CBS Corp. board is reportedly discussing a potential merger with Viacom Inc. on Thursday, Liberty Mutual is shopping around its private equity and real estate stakes, and Avast Software has tapped banks for its London initial public offering.
The Ninth Circuit recently issued a long-awaited ruling in PHP Insurance Service v. Greenwich Insurance, bringing with it a helpful reminder to holders of employment practices liability insurance policies not to shy away from tendering employment claims to their insurers, says Cheryl Sabnis of King & Spalding LLP.
In a national survey of 378 small law firms, partners ranked client referrals as the most important means of business development. Yet studies reveal that while professional services providers obtain most new clients from existing client referrals, their best new clients — the ones providing the largest pool of investable assets — overwhelmingly come from “centers of influence,” says Frank Carone, an executive partner at Abrams Fensterman.
What one Norton Rose Fulbright partner learned about how to be a better lawyer by taking an “adult timeout” from his busy ERISA practice and learning to embrace his sense of adventure.
Dechert LLP is firing back at a federal lawsuit alleging it fired a pair of administrative staffers on the basis of their age and gender, as the Philadelphia-based firm argues instead that the workers lost their jobs as a result of a move to outsource payroll operations.
Near the end of a two-day forum on the present and future state of the business of law, one panelist Wednesday afternoon summed up the prevailing mood with a blunt warning: “Be very, very afraid of the Big Four.”
January’s notable legal department hires included new general counsel at multimedia content publisher XO Group Inc., biopharmaceutical company MyoKardia Inc. and security services group Securitas AB.
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