Legal dispute

Verisk ordered to pay $125mn damages in patent infringement case

Verisk, parent of AIR Worldwide and ISO, has been ordered by a New Jersey jury to pay $125mn in damages for infringing patents owned by an aerial imagery provider.

Swiss Re settles concussion dispute with NFL

Swiss Re subsidiary Westport Insurance has settled with the National Football League in a case over concussion pay-outs to former players that goes back to 2012 and involves more than 30 insurers.

Guy Carpenter claims new “troubling conduct” in dispute with Lockton trio

Guy Carpenter has claimed it has uncovered conduct by three executives that left to join Lockton Re that may violate their temporary restraining order or restrictive covenant agreements.

Purdue Pharma offers $10-12bn opioid claims settlement: reports

Purdue Pharma, the maker of opioid-containing painkiller OxyContin, has offered to pay $10-12bn to settle some 2,000 claims against it, accusing the pharmaceutical company of employing deceptive sales techniques and fueling the opioid crisis of the 2000s.

Johnson & Johnson ordered to pay $572mn in Oklahoma opioid case

An Oklahoma court has ordered pharmaceutical giant Johnson & Johnson to pay $572mn for its role in contributing to the state’s opioid crisis.

Integrand reinsurers oppose remand to receivership court

Reinsurers locked in a dispute with Puerto Rico insurer Integrand over $56mn of Irma and Maria claims have opposed a rehabilitator’s attempt to remand their cases to receivership court.

Mercury’s record $27.6mn California fine upheld

California’s Department of Insurance has claimed victory in a 20-year battle with a Mercury General subsidiary after the state’s supreme court denied the insurer’s petition appealing a $27.6mn fine.

Arch sues to avoid paying USC molestation claims

Arch Specialty Insurance is seeking a declaration that its excess policies issued to the University of Southern California (USC) exclude cover for the alleged sexual abuse of hundreds of students by a gynaecologist that worked in the campus clinic.

Mnuchin asks Sears judge to allow access to XL-led D&O policy

US Treasury Secretary Steven Mnuchin and six other former directors of Sears Holdings have asked the judge overseeing the retail company’s Chapter 11 proceeding to allow them to access a $150mn D&O policy.

Capital Returns sues FedNat to force shareholder meeting

Ronald Bobman-run Capital Returns Management has filed a lawsuit demanding that FedNat Holding hold an annual shareholder meeting.

The insurers most exposed to PG&E’s bankruptcy

Insurers and investors with more than $20bn of subrogation claims against PG&E have proposed a plan to reorganise the utility. Its bankruptcy also has implications for its own liability and D&O insurers.

Insurers seek control of PG&E

A group of insurers that say Pacific Gas & Electric (PG&E) owes them more than $20bn from wildfire claims is seeking to take over the California utility provider and pull it out of bankruptcy.

Lockton Re trio argues Guy Carp’s claims not valid in new filing

Three Lockton Re executives have made a new filing in their dispute with Guy Carpenter, saying their former employer’s claims of violations of their fiduciary duties and restrictive covenant agreements (RCAs) are “an illegitimate attempt to stifle fair competition”.

Adams countersues JenCap/MJ Kelly as legal dispute escalates

Former MJ Kelly president Jon Adams has filed a counterclaim against the MGA and wholesale broker, its owner JenCap and JenCap’s president and CEO John Jennings in a legal dispute over Adams’ departure from the firm last November following its 2016 sale.

Markel confirms Fredricks settlement and Belisle binding arbitration agreed

Markel has confirmed it has agreed to a binding arbitration with former CatCo CEO Anthony Belisle and a mutually agreeable settlement with the ILS manager’s erstwhile Bermuda chief Alissa Fredricks.

Fired CatCo CEO’s $65.8mn lawsuit against Markel settled

The lawsuit filed by the fired CEO of Markel CatCo Anthony Belisle seeking $65.8mn of incentive payments from his former employer has been settled, while erstwhile CatCo Bermuda CEO Alissa Fredricks has voluntarily dismissed her case seeking $7.4mn.

Grenfell Tower insurer loses arbitration dispute with Munich Re

Munich Re has won a dispute against Norwegian insurer Protector Forsikring relating to reinsurance contracts that cover the financial property loss following the devastating Grenfell Tower fire in 2017.

JLT seeks £10mn recoveries from Hyperion as legal proceedings roll on

Following our revelation that MMC-owned JLT had begun legal proceedings in the UK against the London-headquartered intermediary Hyperion in the wake of a flurry of high-profile resignations, The Insurer examines JLT’s claim for £10mn in recoveries.

Arrest warrant issued for former Hiscox Bermuda exec

The Bermuda Police Service (BPS) has issued an arrest warrant for Yuval Joshua Abraham, the former CFO of Hiscox Services Ltd who was sued by the company over fraud allegations.

Integrand reinsurance dispute put on hold to allow regulatory review

Puerto Rico insurer Integrand has been granted a stay of its dispute with its reinsurers over Hurricane Maria claims until 29 August to allow time for a review of its financial state as part of a rehabilitation process.

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