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Guidant Ancure insurer grievance

This article was originally published in The Gray Sheet

Executive Summary

Allianz Insurance Company files suit in Illinois DuPage County Circuit Court, "seeking to rescind or otherwise deny coverage" to Guidant, according to the manufacturer's quarterly filing Nov. 12. Guidant also discloses litigation in Indiana superior court against insurers, including Allianz, who seek to block coverage of Ancure AAA system, following subsidiary EndoVascular Technologies' $92 mil. settlement with the Justice department over adverse event reporting issues (1"The Gray Sheet" June 16, 2003, p. 4). During Q3, the firm reached agreements on 11 of 14 suits that predated the settlement. At least 15 civil suits remain, as well as a number of "class action complaints and shareholder derivative suits," according to the filing...
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