Legal dispute

Insys insurers object to opioid maker’s liquidation plan

Chubb and Liberty Mutual, two of the insurers on Insys’s $30mn product liability tower, have objected to the opioid drug manufacturer’s latest liquidation plan, arguing it is unclear about how insurance obligations would be treated.

AIG and Tokio attempt to steer clear of $23mn Hertz payout

Hertz’s D&O insurers have asked a New York court to rule that the car rental company is not entitled to an insurance payout related to a settlement with the US Securities and Exchange Commission.

Will this year bring a thawing of broker hostilities?

The first two weeks of the year have brought news of settlements in three disputes between rival brokers that had raged throughout much of 2019.

War for talent drives broker disputes into 2020

Last year saw an unusually high amount of hiring disputes between brokers in the US. Three of these lawsuits have been resolved so far in 2020, but some high-profile clashes are still rumbling on between rivals such as Marsh, Aon, Alliant, BMS, Cobbs Allen, CRC and EPIC.

Guy Carp resolves dispute with Lockton Re defectors

Guy Carpenter and three executives that left the reinsurance broker last year to join Lockton Re have reached a settlement in the litigation over the defections.

JLT and NFP settle dispute over hires

Marsh & McLennan Companies (MMC) and NFP have voluntarily dismissed litigation that had raged since May last year over the private equity-backed retail broker’s hire of a number of former JLT Specialty executives.

Merck and its insurers argue over adjustment of $1.3bn NotPetya claim

In the latest development in the high-profile dispute over Merck’s losses from 2017’s NotPetya cyber attack, insurers have hit back at the pharmaceutical giant’s argument that the court should treat its claim for more than $1.3bn as uncontested.

Alliant hits back at Aon’s allegations over construction practice hires

Alliant and the seven construction practice executives it hired in October have responded to Aon’s accusations of a corporate raid in a filing that accuses the broking giant of having “unclean hands”.

Marsh and NFP close to settling JLT defectors suit

Chubb discontinues claims against NFL in concussion dispute

Chubb has discontinued its claims in long-running litigation against the National Football League (NFL), following insurers being denied access to the documents from a 2015 $1bn settlement over player concussions.

Integrand dispute with reinsurers moved to arbitration

Puerto Rico insurer Integrand has failed in its efforts to avoid arbitration of its dispute with reinsurers including Everest Re, Odyssey Re and Swiss Re over $56mn of claims from 2017’s hurricanes Irma and Maria.

Lockton in settlement discussions with Alliant defectors

Settlement discussions are taking place in the litigation between Lockton and former producer members that joined Alliant earlier this year, including former CEO of the Mountain West Series Charles McDaniel.

Argo sets shareholder ‘special meeting’ vote eligibility deadline

Argo Group International Holdings has chosen a ‘record date’ of 8 January to determine which of the specialty (re)insurers’ shareholders will be able to vote on activist investor Voce Capital’s calls for a ‘special meeting’, where it proposes to replace five Argo board directors with its own nominees.

Guy Carpenter says close to resolving dispute with Lockton Re defectors

Guy Carpenter is close to resolving its dispute with three executives that left to launch the Lockton Global Re platform, according to a letter filed with the court yesterday (4 December).

Burns & Wilcox denied TRO in CRC dispute

Burns & Wilcox has been denied a temporary restraining order and preliminary injunction in its litigation with rival wholesale broker CRC Group over the hiring of almost 50 of its employees.

CRC hits back at “frivolous” Burns & Wilcox emergency motion seeking TRO

CRC Insurance Services has responded to rival wholesale broker Burns & Wilcox’s emergency motion for a temporary restraining order and preliminary injunction by questioning the timing of the filing and slamming the litigation as “baseless”.

Burns & Wilcox steps up CRC dispute with emergency TRO motion

Burns & Wilcox has filed an emergency motion for a temporary restraining order and preliminary injunction in its dispute with CRC Insurance Services, revealing that 46 employees have now defected to the rival wholesale broker.

Argo questions legitimacy of Voce’s proposed ‘special meeting’ to replace board members

Bermudian carrier Argo has hit back at Voce and its call for shareholders to support a ‘special meeting’ – where it could ultimately replace five members of the board – questioning if the activist investor’s approach to shareholders complied with “applicable law and regulations”.

Quindell facing UK shareholder class action

Quindell, the disgraced UK insurance services group now known as Watchstone Group plc, is facing a UK securities class action.

Holtmeier files motion to dismiss claims brought against him by GC-JLT Re

BMS’s chief strategy officer for reinsurance in the US Gregg Holtmeier has filed a motion to dismiss most of the claims brought against him by his former employer JLT Re and Guy Carpenter alleging breach of contract and other charges.