Tag: insurance lawsuit

Force placed insurance settlement reached by Assurant and J.P. Morgan Chase

Julie Campbell
Force placed insurance

The agreement that has been reached will require a payment of a total of $300 million to resolve the allegations. Assurant Inc. and J.P. Morgan Chase have now agreed to a settlement in a class action suit against them that will cause them to pay $300 million in order to resolve the allegations against them regarding force placed insurance selling. The claims against the companies had to do with a special type of homeowners coverage applied on behalf of the policyholders. The settlement that has been proposed is among the…

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Insurance news made by Lance Armstrong in fraud lawsuit

Julie Campbell
Lance Armstrong insurance news lawsuit

The former Tour de France title holder is being ordered to answer doping questions by a Texas judge. A Texas judge is making insurance news as he has ordered Lance Armstrong to answer questions regarding his doping, particularly with respect to who knew about the behavior and when they became aware of it. These questions could possibly include the discovery of whether or not Armstrong’s ex-wife and attorneys knew. The insurance news making questions are being required as a part of an effort to obtain information in a lawsuit from…

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Boat insurance lawsuit filed regarding sunken ship

Julie Campbell
boat insurance ship

The owner of the vessel that sunk is now filing a number of suits in relation to the incident. The owner of the tall ship Larinda and of a commercial vessel that sunk, has now launched a wave of different legal actions with the Nova Scotia Supreme Court, in Canada, regarding its boat insurance coverage and other issues. The documents that were filed by the plaintiffs name issues of misrepresentation and of negligence. According to the filings, LeGrow’s Marine Ltd., Larinda Ltd., and the president and director of those two…

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Drama washes over insurance industry as companies continue legal battles

S.Vagus
Insurance Industry Legal Battles

Insurance industry still in turmoil after economic recession The controversies surrounding the U.S. insurance industry and its relation to the 2008 economic recession continue to prove to be an active battlefield. This week, AIG, one of the country’s largest insurance companies, has announced that it may pursue a lawsuit against Bank of America’s Countrywide insurance unit. The lawsuit accuses Countrywide of playing a role in the financial disaster. AIG was cleared to pursue this lawsuit after U.S. District Judge Mariana Pfaelzer approved of such action this week in Los Angeles,…

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Nebraska insurance firm files lawsuit against Lance Armstrong

Julie Campbell
Nebraska insurance company sues Lance Armstrong

The insurer has now sued the cyclist for collecting performance bonuses worth $3 million by cheating. Lance Armstrong isn’t finished seeing the backlash from the discovery that he cheated during his major cycling competitions – such as the Tour de France – as a Nebraska insurance company has now filed a lawsuit against him for wrongful collection of payments. The company alleges that he cheated in order to take in a $3 million performance bonus. This performance bonus was offered by the Nebraska insurance company when Armstrong’s team purchased a…

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