Regulators Hit Jackpot: Off-Channel Communications -
Several years before announcing the first “off-channel” communications enforcement action, the SEC and FINRA cautioned broker-dealers and investment advisers about...more
10/11/2023
/ Annuities ,
Artificial Intelligence ,
Best Interest Standard ,
Breach of Contract ,
Class Action ,
COBRA ,
Consumer Financial Products ,
Consumer Insurance Products ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employment Litigation ,
Federal Arbitration Act ,
Financial Contracts ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
Health Insurance ,
Insider Trading ,
Insurance Fraud ,
Insurance Litigation ,
Insurance Regulations ,
Interlocutory Appeals ,
Investment Management ,
Life Insurance ,
Money Market Funds ,
Mutual Funds ,
NAIC ,
NLRA ,
NLRB ,
No-Action Letters ,
Non-Compete Agreements ,
NYDFS ,
Regulatory Requirements ,
Retirement ,
Robocalling ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
State and Local Government ,
Wage and Hour
A pro se plaintiff had sought to confirm a $116,313 award by “Sitcomm Arbitration Association,” which had allegedly ruled that TD Auto Finance LLC was liable for breach of contract. TD Auto Finance contested the petition by...more
We previously posted about the yearslong reinsurance dispute between Utica Mutual Insurance Co. (the cedent) and Century Indemnity Co. (the reinsurer), involving Utica’s claims that Century breached two reinsurance...more
1/31/2020
/ Allocation Statistics ,
Asbestos ,
Asbestos Litigation ,
Bad Faith ,
Breach of Contract ,
Contract Terms ,
Follow-the-Fortunes Clause ,
Insurance Litigation ,
Prejudgment Interest ,
Recordkeeping Requirements ,
Reinsurance ,
Reinsurance Agreements ,
Settlement
The plaintiffs, U.S. Fire Insurance Co. and North River Insurance Co., issued 12 umbrella and excess umbrella liability policies for a combined coverage of $244 million to a manufacturer of respiratory protection equipment...more
11/26/2019
/ Asbestos ,
Breach of Contract ,
Declaratory Judgments ,
Excess Policies ,
Insurance Claims ,
Insurance Litigation ,
Liability Insurance ,
Motion to Dismiss ,
Pending Litigation ,
Policy Terms ,
Reimbursements ,
Reinsurance ,
Reservation of Rights ,
Stays ,
Umbrella Policies
Plaintiff Choice Hotels International Inc. filed an application to confirm arbitration award and a motion for default judgment against a fanchisee company and its owner in connection with an arbitration initiated before the...more
9/4/2019
/ American Arbitration Association ,
Arbitration ,
Arbitration Agreements ,
Arbitration Awards ,
Breach of Contract ,
Default Judgment ,
Federal Arbitration Act ,
Franchise Agreements ,
Hospitality Industry ,
Hotels ,
Royalties
In a suit by an auto body company against a captive insurance company for rescission of certain workers compensation reinsurance participation agreements, for disgorgement of $70,000 paid thereunder, and for fraud, breach of...more
10/18/2016
/ American Arbitration Association ,
Arbitration ,
Arbitration Agreements ,
Auto Body Shop ,
Breach of Contract ,
Captive Insurance Company ,
Disgorgement ,
Fraud ,
Insurance Industry ,
Mandatory Arbitration Clauses ,
Motion to Compel ,
Participation Agreements ,
Reinsurance ,
Rescission ,
Unfair or Deceptive Trade Practices ,
Workers' Compensation Claim
The Second Circuit reversed the district court’s dismissal of a claim for vacatur without prejudice, which had been based on the panel’s finding that it lacked personal jurisdiction. The Second Circuit examined the merits of...more
Reinsurer Transatlantic Reinsurance Company sued AIG and certain of its subsidiaries for a declaration that they breached various provisions of reinsurance certificates by transferring their risk under asbestos liability...more