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15 May 2009, 4:14 am
The plaintiffs, a purported class of consumers who shopped at the defendant’s markets during the period in which the data was stolen, brought seven causes of action against the defendant in a consolidated complaint: (I) breach of implied contract; (II) breach of implied warranty; (III) breach of duty of a confidential relationship; (IV) breach of a duty to advise customers of the theft of their data; (V) strict liability; (VI) negligence; (VII) and violation of… [read post]
13 May 2009, 3:08 am
I will be participating as a panelist on a sesion discussion the State of the Insurance Market. [read post]
11 May 2009, 7:06 pm
The only way we can make the structured settlement market attractive for the life insurance companies in the long term is to begin writing other life insurance and recurring income products that lessen reserve strain, broaden the base of income and build effective advocates in the planning world that value our product. [read post]
8 May 2009, 5:50 am
As such, I submit to you that plaintiffs in suburban and rural venues are not given a fair chance, as suburban and rural jurors are led to believe that they are in essence entering awards against themselves, rather than an insurance company. [read post]
6 May 2009, 4:08 am
Based on numerous decisions by various courts of common pleas in different counties, it can be safely stated that the trial courts will favor, and allow to stand, the consolidation of UIM claims with any bad faith claims against the involved insurance company along with any claims against the individual defendants who actually caused the accident, all under one lawsuit.A number of the cases addressing this issue of consolidation of claims have come out of the… [read post]
4 May 2009, 2:29 am
The report notes that 117 out of the 169 "securities lawsuits" filed (or 69%) in the first quarter involved financial services firms (including insurance companies). [read post]
20 Apr 2009, 5:13 am
The provisions of this requirement apply to any life insurance policy issued or renewed on or after August 28, 2009.H.B. 777 requires group policies by a health carrier or health benefit plan to comply with the federal Consolidated Omnibus Budget Reconciliation Act (COBRA) provisions regarding the continuation of group health insurance coverage to an individual who has terminated employment or membership.Captive Insurance CompaniesH.B. 777 changes the laws… [read post]
14 Apr 2009, 7:39 am
In 2000, the insured Scotts Company and one of its GL insurers, Pacific Employers Insurance Company (PEIC), entered into a settlement and release resolving DJ litigation over liability coverage for asbestos-related claims. [read post]
3 Apr 2009, 6:00 am
In a letter to the G20 members, the Geneva Association, an organization comprised of CEOs from the world’s leading insurance and reinsurance companies, provided recommendations for more effective regulation of the insurance and reinsurance industry, along with information and analysis regarding the differences between the insurance and reinsurance industry and that of the banking industry. [read post]
31 Mar 2009, 10:00 am
Conspiring with other companies to rig municipal derivative and general insurance markets- among those companies was the insurance brokerage Marsh & McLennan run by Greenberg’s son. [read post]
31 Mar 2009, 1:04 am
Full House for Supreme Court Arguments on Asbestos
Legal Times
The arguments before the Supreme Court Monday in consolidated cases related to a long-running asbestos litigation packed the Court's lawyers' section with insurance and bankruptcy law practitioners, among others. [read post]
30 Mar 2009, 3:00 am
Cohn of Philadelphia will argue for respondent Chubb Indemnity Insurance Company. [read post]
26 Mar 2009, 4:44 am
The centerpiece of the legislative proposal is the creation of a federal systemic risk regulator with consolidated power over all systemically important firms that can impact the financial markets. [read post]
24 Mar 2009, 8:53 am
Policy Types and Insurance Company Notification: EPLI policies are typically written on a “claims made” basis meaning that the claim must be incurred during the coverage period and reported to the insurer during an extended reporting period. [read post]
18 Mar 2009, 6:20 pm
Peers are asked to rate their competitors on the basis of these 8 points: Innovation, People Management, Use of Corporate Assets, Social Responsibility, Quality of Management, Financial soundness, Long Term Investment and Product/Service Quality.There is something new for the 2009 "Most Admired", Fortune has consolidated to a single global survey Structured settlement annuity issuers fall into two categories (1) Insurance-Life and Health; and (2)… [read post]
13 Mar 2009, 11:19 am
A Pennsylvania workers' comp insurance company can only obtain an offset from a pension plan "to the extent funded by the employer directly liable for the payment of compensation. [read post]
6 Mar 2009, 11:32 pm
The article suggests that the consensus proposal the group ultimately endorses will reflect the "lowest common denominator" among participants and that this would not include a public plan option which insurance companies and Republicans strongly oppose. [read post]
2 Mar 2009, 1:47 am
Subprime-Related Derivative Lawsuit Largely Dismissed: In a detailed and painstaking February 24, 2009 opinion (here), Chancellor William Chandler dismissed the bulk of the consolidated subprime-related derivative suit pending against Citigroup, as nominal defendant, and certain of the company’s directors and officers, in Delaware Chancery Court. [read post]
24 Feb 2009, 1:48 am
” In addition, Obama specifically decried the Bush administration’s “failure” to bring any monopolization cases over the last seven years, and told the American Antitrust Institute, “My administration will ensure that insurance and drug companies are not abusing their monopoly power through unjustified price increases —whether on premiums for the insured or on malpractice insurance rates for… [read post]
24 Feb 2009, 1:48 am
” In addition, Obama specifically decried the Bush administration’s “failure” to bring any monopolization cases over the last seven years, and told the American Antitrust Institute, “My administration will ensure that insurance and drug companies are not abusing their monopoly power through unjustified price increases —whether on premiums for the insured or on malpractice insurance rates for… [read post]
