Insurers

Supreme Court Ruling Reshapes Future of Mass Tort Bankruptcy Settlements: Purdue Pharma Case Unravels Traditional Protections for Insurers

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Washington, D.C. — In a landmark decision, the U.S. Supreme Court has issued a ruling that will reshape the landscape of bankruptcy law, particularly affecting how companies deal with mass tort liabilities through Chapter 11 bankruptcy cases. This decision notably impacts liability insurers who often resort to bankruptcy proceedings to resolve large-scale legal claims. At the center of this pivotal case is Purdue Pharma, the pharmaceutical giant behind OxyContin. This drug, marketed as a time-released painkiller, became wildly popular, turning into the most prescribed opioid in the United States. This, however, came at a steep … Read more

New Legislation Limits How Health Insurers Can Employ Artificial Intelligence

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A new state law in California is setting the stage for stricter regulation on how health insurers can utilize artificial intelligence, aiming to shield consumers from potentially biased decisions based solely on AI. This pioneering legislative move underscores a growing concern over the ethical implications of AI in critical sectors like health insurance, where decisions can significantly affect lives. Under this new statute, effective next month, health insurers will be required to be more transparent about the AI models they employ to make decisions about coverage and rates. The law mandates that these companies disclose … Read more

Top Lawyer Andrew Frankel Champions Insurers in High-Stakes Coverage Battles Over Mass Torts

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New York, NY – At the heart of some of the most contentious legal battles over insurance coverage, Andrew Frankel, leader of the insurance and reinsurance practice at Simpson Thacher & Bartlett LLP, stands out. Frankel has carved a niche in representing insurers embroiled in disputes rising from mass tort litigation, notably involving cases related to PFAS chemicals and talcum powder injuries. Frankel’s expertise has placed him at the forefront of intricate legal confrontations where the stakes are high and the subject matter complex. These cases, often multimillion-dollar battles, center around insurers’ responsibilities and liabilities, … Read more

Supreme Court to Determine Insurer’s Role in Bankruptcy Claims Amid Tort Settlements

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WASHINGTON — A pivotal Supreme Court case set for arguments Tuesday could redefine the role of insurance companies in bankruptcy proceedings, with implications stretching across multiple high-stakes tort claims involving billions of dollars. The case, Truck Insurance Exchange v. Kaiser Gypsum Co., centers on whether insurers can challenge bankruptcy plans if they are required to cover claims under the proposed settlements. Truck Insurance Exchange has hit roadblocks in lower courts, which denied its appeals to object to a reorganization plan by Kaiser Gypsum. The plan in question relates to the settlement of thousands of claims … Read more