Tag Archives: Insurance

Judge Gardephe: Courts Can’t Force Nonparty Insurers to Mediate

In a handwritten memo endorsement today, Judge Gardephe denied a plaintiff’s request to force the defendants’ insurers to participate in mediation, concluding that the Court lacked the power to direct the actions of a nonparty: The Carriers are not parties before this Court. If Defendants believe that the Carriers are not meeting their responsibilities under … Continue Reading

Judge Berman: Insurer Not on the Hook for $30 Million Judgment in Counterfeiting Case

In an order today, Judge Berman ruled that insurance company USF&G was not obligated to reimburse Ashley Reed Inc. for a $30 million judgment against it for selling counterfeit Fendi bags.  The USF&G policy insured against “Advertising Injury,” which Judge Berman ruled was separate from the company’s actual counterfeiting of the bags. Defendants have failed … Continue Reading

AIG Brings Constitutional Challenge to N.Y. Regulation of Insurance Sales to Out-of-State Customers

In a complaint filed today, AIG seeks to enjoin the New York State Department of Financial Services from any enforcement action arising from the Department’s investigation into a former AIG subsidiary called ALICO.  The Department has allegedly threatened to fine AIG based on the allegation that ALICO was conducting an unlicensed insurance business in New … Continue Reading

Judge Engelmayer Preliminarily Enjoins Insurer from Cutting off Advancement of Hedge Fund’s Legal Fees

In an opinion issued yesterday, Judge Engelmayer granted the motion of Level Global and the hedge funds’ management team to preliminarily enjoin their insurer, XL Specialty Insurance, from cutting off the advancement of legal fees. After Level Global and its managers became the subject of a criminal insider trading investigation by the U.S. Attorneys’ Office … Continue Reading