ABA Journal

Insurance & Financial Services

74 ABA Journal Insurance & Financial Services articles.

Lawyer used deceptive ‘mobile claim center’ to solicit Hurricane Ian clients, Florida Bar alleges

A lawyer is denying allegations that she solicited Hurricane Ian clients using a truck designed to look like an operation of the Federal Emergency Management Agency or a state-run site. The lawyer said the Florida Bar’s petition for her emergency suspension is based on “a clear misunderstanding of the underlying facts and circumstances in this matter.”

Supreme Court should consider right to earn a living, 5th Circuit judge says in COVID-19 shutdown case

A conservative federal appeals judge suggested in a concurrence this week that the U.S. Supreme Court should consider whether the right to earn a living is a fundamental, unenumerated constitutional right.

Judge orders Trump to appoint independent monitor in New York attorney general’s $250M fraud case

The Trump Organization was ordered by a New York judge to appoint an independent monitor, a win for the New York attorney general in her $250 million fraud lawsuit against former President Donald Trump, his companies and his officers.

Harvard flubbed insurance deadline, cannot access $15M policy, judge rules

Harvard University will not be able to tap into a $15 million insurance policy to cover legal expenses after failing to alert its insurer in a timely manner of the lawsuit over its race-conscious admissions program, a federal judge in Boston ruled Wednesday.

Lawyer who fought state’s motorcycle helmet law stayed true to his cause in death

A Florida lawyer who thought that motorcycle helmets should be a choice, rather than a requirement, died with his girlfriend in August in a motorcycle crash.

Baker & Hostetler helped client conceal ‘blatant insurance fraud,’ suit alleges

A bankruptcy trustee has filed a lawsuit alleging that Baker & Hostetler helped a client commit “blatant insurance fraud" and cause several companies to wrongly pay more than $100 million in rebates to pharmacy benefit managers that managed patients' insurance.

California bar announces probes of 2 prominent lawyers after report on mishandled settlement funds

The State Bar of California announced Tuesday that it is investigating two prominent Los Angeles lawyers in connection with the mishandled distribution of settlement funds paid by insurers for descendants of Armenian genocide victims.

Trump inflated net worth by billions to get favorable loans, obtaining $250M in benefits, NY attorney general says

Former President Donald Trump obtained hundreds of millions of dollars in real estate loans and favorable insurance coverage based on financial statements that inflated his net worth by billions of dollars, according to a lawsuit filed Wednesday by the New York attorney general.

Lawyer is still entitled to disability benefits for depression linked to law practice, 6th Circuit rules

A former Traverse City, Michigan, personal injury lawyer is entitled to continued monthly payments under his disability insurance policy because of evidence that his recurrent depression makes him unable to work as a trial attorney, a federal appeals court has ruled.

Ballooning student loans become an albatross; ex-NYU law student, 91, owes $329K on initial $29K loan

Some older Americans who took out relatively modest student loans are finding themselves saddled with ballooning loan balances that can result in garnishment of tax refunds, wages and Social Security payments.

Class action suit over gender bias at Goldman Sachs slated for 2023 trial

Despite Goldman Sachs’ attempt to avoid a 12-year-old gender bias class action lawsuit, a federal judge said Monday the case will head to trial next June.

Lawyers can hold cryptocurrency in escrow for clients, with safeguards, state ethics opinion says

Lawyers may hold cryptocurrency in escrow for clients, but they must have technical competence and safeguard against losses, according to an Ohio ethics opinion.

Boies Schiller and Hausfeld will get big chunk of $626.6M in legal fees in insurance antitrust case

A federal judge in Alabama approved a $2.67 billion settlement and $626.6 million in attorney fees Tuesday in an antitrust class action against Blue Cross Blue Shield insurance plans.

How the decision overturning Roe v. Wade affects insurance coverage for abortions and related litigation

Insurance companies are facing new legal issues after the U.S. Supreme Court ruled last month that there is no constitutional right to abortion.

GEICO can’t relitigate $5.2M award for car-sex STD after refusing to defend car owner, appeals court rules

GEICO had no right to relitigate a $5.2 million arbitration award to a woman who contracted a sexually transmitted disease in a car insured by the company, a Missouri appeals court has ruled.

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