Insurer did not waive right to rescind policy
A federal district court, applying Ohio law, has held that an insurer did not waive its right to rescind a professional liability policy issued to an accountant and his firm when the insurer knew of the accountant's potential involvement in a fraudulent investment scheme but still issued the policy and then canceled it after complying with a 90-day notice of cancellation provision.
The House voted Wednesday to strip health insurance companies of their exemption from federal antitrust laws, a Democratic measure that could resonate with public concerns about insurers but that has an uncertain future in the Senate.