Insurance

A judge has refused American International Group’s bid to withdraw an admission that directors of defunct advisory firm Linchpin Capital were covered under a D&O policy in an investor class action that has settled against everyone but the insurer. 

The Australian Securities and Investments Commission is fighting a challenge by three KordaMentha partners to the regulator’s decision to allow insurer Atradius to subject them to public examination over their administration of failed steel giant Arrium.

The High Court has rejected dam services provider Sunwater’s request that it weigh in on a dispute over insurance coverage for a $440 million class action settlement with victims of the 2010-2011 floods in Queensland.

The Australian Securities and Investments Commission has brought its first-ever case concerning unfair insurance contract terms, targeting Auto & General Insurance Company’s standard form home and contents insurance agreement.

Boutique law firm Barry Nilsson has snagged a Norton Rose Fulbright disputes partner who specialises in healthcare product liability class actions and his five-member team to join its Sydney office. 

A shareholder class action against Medibank has claimed it did not disclose “serious deficiencies” in its cybersecurity measures, including failing to implement security measures such as multi factor authentication, causing investors to buy shares at inflated prices. 

Insurer Bond & Credit Company has overcome an administrator’s protests and won leave to bring cross-claims against three Greensill entities in lawsuits over the financing firm’s $1.7 billion collapse.

Australia’s largest private health insurer Medibank has been hit with a shareholder class action in the wake of a massive cyberattack that left the data of 10 million customers exposed.

The Full Court has found that a policy exclusion applies in a dispute between Acciona Infrastructure and Ferrovial Construction and three insurers over coverage for loss and damage caused by heavy rainfall during the construction of the $695 million Pacific Highway in northern New South Wales.

An investor class action has reached a settlement with four former directors of defunct Linchpin Capital, leaving only allegations against AIG Insurance, which is allegedly seeking to withdraw an admission that directors were insured under a D&O policy.