Insurance

Insurance Titans Unite Against Litigation Funders: A New Battle in the Courtroom and Capitol

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In New York, some of the nation’s largest insurance companies are intensifying their critiques of litigation finance companies, despite the fact that many in the industry provide similar products to plaintiffs. Major insurers attribute their rising costs to outside funders who work alongside plaintiffs’ attorneys in significant tort cases—ranging from those involving talc and opioids to the herbicide Roundup. These companies claim that such financing inundates courts with lawsuits and escalates insurance premiums. Following a halt in Congressional efforts to implement a 40% tax on litigation funders, these insurers indicate they will continue to advocate … Read more

Infinity Insurance Files Suit Against Former Law Firm Over $36.4 Million Jury Verdict Mishap

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Chatsworth, California, is at the center of a legal dispute involving Infinity Insurance Co. and a law firm previously representing a defendant in a highly publicized personal injury case. A local jury recently awarded a substantial $36.4 million to a motorist, which has prompted Infinity to accuse its legal representation of significant errors during the proceedings. This unfolding controversy is further complicated by the dissolution of the law firm Ford, Walker, Haggerty, & Behar LLP on June 30. Following this dissolution, a link on their website now directs clients to Behar Gibbs Savage Paulson LLP, … Read more

Texas Appeals Court Overturns $750K Award for Disabled Worker, Citing 2012 Ruling on Insurance Claims

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AUSTIN, Texas — A Texas appeals court has overturned a substantial jury award against Sentry Insurance, ruling that the claims brought by a permanently disabled worker were not valid under existing state law. The court determined that the claims, rooted in allegations of bad faith by the insurer, were barred based on a 2012 decision from the Texas Supreme Court. In a ruling issued Wednesday by the 11th District Court of Appeals, the court clarified that Donald Bristow could not seek damages under the Texas Insurance Code or the common-law duty of good faith and … Read more

Missouri Simplifies Commercial Financing: New Law Exempts Insurance Premiums from Disclosure Requirements

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JEFFERSON CITY, Mo. — Recent changes to Missouri’s commercial finance regulations include a significant exemption for insurance premium financing. The new provisions are part of a broader effort to clarify the state’s approach to commercial finance disclosures, a move that industry stakeholders are closely monitoring. Under the revised law, insurance premium financing will be exempt from certain disclosure requirements that typically apply to other forms of commercial financing. This exemption aims to reduce the regulatory burdens placed on businesses seeking to finance insurance premiums, which are crucial for maintaining the operations of various enterprises. The … Read more