June 9, 1993 |
American Medical Wins $12-Million Judgment: A federal jury in Los Angeles awarded American Medical International, a Dallas-based hospital company, $12 million in a bad-faith lawsuit against National Union Fire Insurance Co., according to lawyers for AMI. The lawsuit stemmed from a 1991 case in which AMI had paid $16 million to settle a legal dispute with a major stockholder.
June 4, 1990 |
Keating, Lawyers Sue Insurer: Charles H. Keating Jr. and his lawyers, Quinn, Kulley & Morrow, sued a London insurance syndicate to try to recover $378,011 in legal costs stemming from last year's collapse of Keating's American Continental Corp. and its Lincoln Savings & Loan unit. The Los Angeles Superior Court case says 12 insurers and a lead underwriter provided directors' and officers' liability coverage to American Continental.
October 31, 1997 |
Auto-By-Tel Corp., operator of a major Internet automobile information, purchasing and leasing program, said Thursday it has completed a $13-million private placement of preferred stock. The sale is the third in the last 15 months and brings the company's total private equity capital investment to $37 million. Investors included General Electric Capital Corp., the American International Group Inc. subsidiary of National Union Fire Insurance Co.
December 18, 2001 |
KB Home sued to force its insurer to cover at least $11 million in losses from unauthorized trading by an employee at the third-largest U.S. home builder's mortgage unit. KB Home, which recently changed its name from Kaufman & Broad, claims National Union Fire Insurance Co. of Pittsburgh should pay on the comprehensive dishonesty, disappearance and destruction policy it issued to the home builder prior to the discovery of the trades in August 1999.
February 12, 2002 |
Shareholder lawsuits stemming from the collapse of Enron Corp. are prompting insurers to raise the price of coverage for corporate executives and directors against claims of mismanagement. Companies with market values of more than $1 billion face premium increases of more than 50%, according to Willis Group Holdings Inc., the third-largest insurance broker. Mary Gardner, a risk manager at Sears, Roebuck & Co. in Hoffman Estates, Ill., said she is concerned about rate increases.
January 28, 1987
An insurance company Tuesday sued the Raiders to avoid possibly having to pay a $5-million award that Al Davis, the team's managing general partner was ordered to pay Eugene Klein, former owner of the San Diego Chargers. The National Union Fire Insurance Co. of Pittsburgh sued the Raiders in federal court in Los Angeles for a court determination of its responsibilities under the team's liability coverage. The suit claimed the California Insurance Code bars coverage of malicious acts.