bad faith News

Insurers May Be on Hook for Dole Buyout Lawsuit Settlements

A Delaware judge says insurers may be on the hook for $190 million to settle two lawsuits stemming from a 2013 buyout in which Dole Food chairman and CEO David Murdock took the company private. In a ruling late last …

Kentucky Supreme Court Finds No Bad Faith as a Matter of Law in Auto Lawsuit

The Kentucky Supreme Court in Hollaway v. Direct General Ins. Co. Mississippi Inc., 497 S.W. 3d 733 (Ky. 2016), recently affirmed summary judgment that was granted in favor of the insurance company, finding that the plaintiff did not present a …

California Court Hands Down $55M in Decision Against Three AIG Companies

An Alameda County, Calif., jury has awarded Pennsylvania-based Victaulic Co., $55.3 in damages against three AIG companies. The trial in Victaulic Co. v. American Home Assurance Co. et al., in Alameda County Superior Court spanned six weeks before Judge Frank …

Lloyd’s Suit, Upcoming NFL Draft Shine Light on Sports Insurance

As the 2015 National Football League draft approaches, a lawsuit against Lloyd’s of London by former University of Southern California Trojans receiver Marqise Lee has placed a spotlight on sports disability insurance. Insurance agents say lawsuits in this high-profile sports …

Oregon’s ‘Second Lawsuit’ Legislation Tabled

The Oregon House Judiciary Committee on Monday tabled HB 4136, a bill its detractors said would have imported “the legacy of bad faith litigation” from neighboring states into Oregon. A handful of insurance trade associations urged the committee to reject …

Florida Lawmakers Reject Bad-Faith Reform Bill

Business groups in Florida saw their efforts to reform the state’s bad-faith law end suddenly for the year after a legislative committee voted by a one vote margin to kill a bill that would have placed additional restrictions on lawsuits. …

Study: Washington Law Increased Homeowners Insurance Costs by $190 Million

A new study released by the Insurance Research Council (IRC) has found a Washington law increased homeowners insurance costs by $190 million. The IRC study examined the impact of the Insurance Fair Conduct Act (IFCA), enacted by the Washington State …