United States Archives - Page 310 of 314

The Brocade Trial: An Important Defense Gets in the Door

Jul 3, 2007 | D&O Liability | United States

Until last Friday, Greg Reyes, Brocade’s former CEO, had been unable raise an important aspect of his defense: Brocade was only one of many companies that allegedly manipulated stock options grants.

Princeton to Pay $20 Million to Settle Bad Faith Claim

Jul 2, 2007 | Coverage & Claims, Extra-Contractual Liability | United States

Princeton Insurance Company recently agreed to pay $20 million to settle a bad faith claim related to a dram shop lawsuit brought against their insured. In the underlying lawsuit, a highway construction flagman sued Princeton’s insured, a tavern, after he was struck by a car driven by the tavern’s patron.

Congress Begins Move Against General Partners’ Carried Interests

Jul 2, 2007 | Industry Developments | United States

Investment fund managers may be forced to pay higher tax rates on income from their investment funds if a bill introduced in the House of Representatives on Friday, June 22, 2007 becomes law.

The Brocade Trial: The First Two Weeks

Jun 29, 2007 | D&O Liability | United States

After the first two weeks of the Brocade trial that may last up to two months, the sole development of note remains the potentially damaging testimony of a former human resources employee that Brocade exec Greg Reyes told her that “it’s not illegal if you don’t get caught.”

Florida Governor Charlie Crist extends Citizens Property Insurance Rate Freeze

Jun 29, 2007 | Florida Developments | United States

In January 2007, the Florida Legislature froze the rates of Florida’s state sponsored property insurer, Citizens Property Insurance Corporation, until the end of the year. On June 26, 2007, Florida Governor Charlie Crist signed a bill extending the rate freeze until January 1, 2009.

Florida Insurer’s Removal of Receivership Proceeding to Federal Court Under Review

Jun 28, 2007 | Insolvency, Restructuring and Run-Off | United States

We are following a unique case pending in the U.S. District Court for the Northern District of Florida, where Universal Health Care Insurance Company (UHCIC) has attempted to remove to federal court the receivership proceedings commenced in Florida state court by the Florida Department of Financial Services (DFS). The DFS has moved to remand the matter to state court, briefs have been filed, and the matter awaits a ruling from the court.

Mississippi Attorney General Sues State Farm Again

Jun 27, 2007 | Catastrophe Claims, Coverage & Claims | United States

On June 11, Mississippi Attorney General Jim Hood filed a civil action again State Farm Fire and Casualty Co. in the Circuit Court of Hinds County, Mississippi, alleging breach of contract, bad faith breach of contract, and breach of duty of good faith and fair dealing. The suit arises out of State Farm’s alleged failure to honor an agreement for a mass settlement of claims arising out of damage caused by Hurricane Katrina.

Pending Legislation May Change New York Law of No-Prejudice

Jun 27, 2007 | Coverage & Claims, Industry Developments, New York Developments | United States

Both houses of the New York State legislature passed a bill proposing to reverse the longstanding New York rule that an insurer need not establish prejudice in order to disclaim coverage based upon late notice.

Allstate Settles Post-Trial Legal Dispute In First Louisiana Wind vs. Water Dispute Trial

Jun 27, 2007 | Catastrophe Claims, Coverage & Claims | United States

On June 21, Allstate Insurance announced that it settled a post-trial legal dispute with its insured, Robert Weiss, in a significant Hurricane Katrina-related damages case.

New Cover Blurs the Distinction Between War and Terrorism

Jun 27, 2007 | Industry Developments | United States

In the United States, a hotly debated industry issue is the future of the Terrorism Risk Insurance Program . We have recently seen a proposal in a House Bill to extend and expand TRIA.

Jurisdiction: United States

The Brocade Trial: An Important Defense Gets in the Door

Princeton to Pay $20 Million to Settle Bad Faith Claim

Congress Begins Move Against General Partners’ Carried Interests

The Brocade Trial: The First Two Weeks

Florida Governor Charlie Crist extends Citizens Property Insurance Rate Freeze

Florida Insurer’s Removal of Receivership Proceeding to Federal Court Under Review

Mississippi Attorney General Sues State Farm Again

Pending Legislation May Change New York Law of No-Prejudice

Allstate Settles Post-Trial Legal Dispute In First Louisiana Wind vs. Water Dispute Trial

New Cover Blurs the Distinction Between War and Terrorism

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