In a case arising out of Hurricane Katrina-related damages, the United States District Court for the District of Connecticut ruled that communications between a cedent and reinsurer that were prepared in the ordinary course of business are not protected by the work-product privilege. 

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Read More Connecticut Federal Court Rules that Certain Communications Between a Cedent and Reinsurer in a Hurricane Katrina-Related Case are Not Protected by the Work-Product Privilege

On September 12, 2007, Judge L.T. Senter, Jr., sitting in the federal district court in Mississippi, denied a motion filed by State Farm Fire and Casualty Company to disqualify Richard (“Dickie”) Scruggs, his law firm, and other attorneys and firms in the Scruggs Katrina Group from representing plaintiffs in the case of McIntosh v. State Farm Fire & Casualty Co. 

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Read More Mississippi Court Denies State Farm’s Motion to Disqualify Dickie Scruggs and the Scruggs Katrina Group

The Massachusetts Secretary of the Commonwealth confirmed on Friday October 19, 2007 that it is investigating certain trades in two failed Bear Stearns funds.  The investigation, which was first reported in the Wall Street Journal last week, involves trades between Bear Stearns and two hedge funds managed by Bear Stearns that may have been made without the proper disclosures to the funds’ independent directors. 

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Read More Bear Stearns Faces Further Scrutiny as Massachusetts Regulators Probe Failed Hedge Funds

In the wake of a Nevada jury’s recent  $99 million punitive damages judgment against Wyeth Pharmaceuticals Inc., in L. Brocklin v. Wyeth, No. CV04-01701 (October, 15, 2007), Wyeth’s attorneys are vowing to appeal what they are calling an “aberration” in the various hormone replacement cases brought against the Madison, N.J.-based company. 

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Read More Wyeth Vows To Appeal $99 Million Punitive Damages “Aberration” In Nevada Hormone Replacement Case

In a greatly anticipated opinion, the Florida Supreme Court recently clarified the Valued Policy Law (“VPL”), §627.702(1), Fla. Stat. (2004).  Florida Farm Bureau Casualty Ins. Co. v. Cox, No. SC06-2494, 2007 WL 2727072 (Fla. S. Ct. Sept. 20, 2007).   The Court considered whether the  VPL required an insurer to pay the face value of the policy for a “total loss” caused, in part, by a covered peril and, in part, by a non-covered peril. 

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Read More Florida’s Valued Policy Law – The Florida Supreme Court Weighs In

The 11th Circuit Court of Appeals has held that an insurer of municipal bonds does not have standing to bring an action for federal securities fraud under Rule 10b-5 of the Securities and Exchange Act (“the Act”). 

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Read More 11th Circuit – Municipal Bond Insurer Does Not Have Standing to Bring Securities and Exchange Act Rule 10b-5 Claim

UnitedHealthcare, a subsidiary of UnitedHealth Group, Inc., entered into a settlement agreement last month whereby it agreed to pay $12 million to the Attorneys General of 36 states and the District of Columbia.  This settlement comes after a multi-state investigation by state insurance regulators regarding UnitedHealthcare’s claims practices, fee schedules and deductibles. 

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Read More UnitedHealthcare Settles Claims For $12 Million

The Senate Banking Committee has approved a version of the Flood Insurance Reform and Modernization Act of 2007 (the “Act”), which will now go to the entire Senate for a vote.  The Act, which extends the National Flood Insurance Program (“NFIP”) through 2013, has several major differences from the House of Representatives’ version we previously reported about here. …
Read More Senate Banking Committee Approves Bill to Amend NFIP

On October 12, 2007, Caterpillar filed suit (the “Complaint”) against Aon Corporation, Aon Risk Services, Inc. of Illinois, and Aon Re Global, Inc. (“Aon”) in the United States District Court for the Central District of Illinois. …
Read More Caterpillar Sues Aon Alleging Violations of Federal and State Antitrust Laws