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Case ID: 4102 | Insurance | 12/27/2004
A class action lawsuit has been filed in the Southern District Court of Indiana against Beazer Homes Investment Corporation, Inc. Hanover Insurance Company seeks a declaration that the it is not obligated or required to defend and indemnify Beazer Homes as an insurer because of Beazer's alleged fraudulent activity.
Specifically, the complaint alleges that the Hanover Insurance Company entered into an agreement to provide insurance to Beazer Homes. However, it was later discovered that the homeowners who purchased homes from Beazer brought a lawsuit claiming that Beazer: • Made fraudulent representations to homeowners regarding the quality, standard and grade of the model homes the plaintiffs purchased Because of the alleged dishonesty on the part of Beazer, Hannover seeks to void the insurance relationship. At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Insurance Cases of Interest The parties have reached a $20 million settlement in an administrative proceeding filed by the SEC against subsidiaries of Conseco, Inc. (CIHC, Inc., Conseco Services, LLC, and Conseco Equity Sales, Inc.), and the company to which Conseco sold its variable annuity business in 2002, Inviva, Inc., and its subsidiary Jefferson National Life Insurance Company. The action alleged that the insurance companies facilitated market timing of mutual funds through the sale of variable annuities, harming investors who purchased variable annuity products from the companies. Persons eligible to take part in the settlement should contact the attorneys who prosecuted the case for more information. The parties have reached a final settlement apparently valued at $3 million in an action filed against Safeco Insurance Company of America and related companies on behalf of Montana customers who filed uninsured, underinsured and medical claims against the company from 1996 to the present. The action alleged that state insurance provisions prohibiting "stacking'' of multiple insurance policies were unenforceable. Persons eligible to participate in the settlement should contact attorneys for the class for more information as soon as possible. Asbestos-related work injuries can be devastating. The parties have reached a tentative $375 million settlement in several class actions filed against Travelers Property Casualty Corporation on behalf of persons exposed to asbestos and their families, who allege that the insurer engaged in unfair trade practices by inappropriately handling and settling asbestos claims. A class action has been filed against the Hartford Financial Services Group (NYSE: HIG) and certain of its officers and directors by stockholders who purchased the company’s common stock between November 5, 2003 and October 13, 2004. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company’s securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. A class action lawsuit has been filed in the Western District Court of Washington against the Boeing Company Employee Health and Welfare Benefit Plan for violations of the Employee Retirement Income Security Act (ERISA). ERISA is a federal law that sets minimum standards for most voluntarily established pension and health plans in private industry to provide protection for individuals in these plans. Class members seek the recovery of benefits, attorney's fees and costs of the litigation. Recent research has suggested that the “insurance crisis” is little more than a ruse to allow insurers to hike your premiums. A nationwide class has been certified in an action filed against St. Paul Fire and Marine Insurance Company and its affiliate, Commercial Insurance Service, Inc., on behalf of physicians who allege that the companies withdrew their malpractice coverage, breaking their contracts and cheating them of tail coverage that goes into effect when a doctor retires, is disabled, or dies. |
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