Background On May 19, 2023, the First Circuit Court of Appeals ruled in Green Enterprises, LLC v. Hiscox Syndicates Ltd. at Lloyd’s of London that the New York Convention on the Recognition and Enforcement of Foreign Arbitral...more
The death of a loved one brings stress, despair and grief. It also often precipitates disagreements regarding the intended beneficiary of an annuity, life insurance policy or other account of the decedent.
The financial...more
Throughout the pandemic in both the U.S. and abroad, shelters, nonprofit rescues, private breeders and pet stores have reported higher demand for pet ownership than the number of pets to fill it. Not surprisingly, new pet...more
The COVID-19 outbreak brought much uncertainty and vulnerability, due in no small part to the uptick in financial fraud. Since May of 2020, it has been reported that the Department of Justice has charged over 600 defendants...more
As of August 11, 2021, New Hampshire joined all 49 states and the District of Columbia, formally enacting its own Structured Settlement Protection Act (SSPA) when Governor Chris Sununu signed SB 134 into law.
Broadly,...more
As the second quarter of 2021 continues, one thing is clear: COVID-19 business interruption claims are here to stay for the foreseeable future. Some legislators have proposed bills that would force insurers to cover certain...more
For the sixth consecutive year, the pet insurance industry experienced double-digit growth, according to a new report from the North American Pet Health Insurance Association (NAPHIA). NAPHIA’s “2021 State of the Industry...more
In a meaningful victory for structured settlement annuity owners and issuers, the Southern District of California recently dismissed the claims of alleged “intended” beneficiary, Tera Vance, after having dismissed several...more
The NAIC’s Pet Insurance Working Group continues to moo-ve ahead with the development of a Pet Insurance Model Act (Model). The Model is based in large part on California’s existing pet insurance law.
On its March 6...more
Structured settlements most often take the form of fixed payment annuities, for the most part funded by the tort defendant (or its liability insurer) in a wrongful death or personal injury suit, but are the resulting periodic...more
Calling all pet parents! At least 20 companies currently provide pet insurance, but there has traditionally been little regulatory supervision surrounding these products — until now. The National Association of Insurance...more
At the start of 2021, one thing is clear: COVID-19 will continue to play a major part in insurance coverage litigation trends in the new year. Until now, the main focus has been on claims for lost business income due to...more
Each year, insurers pay out millions of dollars on annuities that are not owed. This not only results in financial loss, but also leads to over-inflated reserves. The problem persists because it is increasingly difficult for...more
COVID-19 has forced ski slopes to cease operation, compelled people to cancel trips of all kinds, and closed many summer camps. Attempts by insureds to obtain refunds or otherwise recoup the money they paid in connection with...more
Last week, a Texas federal judge decided Vandelay Hospitality Group v. The Cincinnati Insurance Company, et al, No. 3:20-cv-01348 (N.D. Tex. 2020), granting an insurance brokerage agency’s motion to dismiss in a business...more
Business interruption suits against an insurer filed in Allegheny, Philadelphia and Lancaster Counties in Pennsylvania, will be coordinated and will proceed before Judge Ward of the Allegheny County Court of Common Pleas. The...more
The New Jersey Superior Court recently affirmed the dismissal of a professional negligence lawsuit against an insurance broker where the affidavit of merit filed was not in compliance with the applicable...more
The New Jersey Supreme Court recently answered a question of law certified to it by the Third Circuit Court of Appeals, and held that the made-whole doctrine “does not apply to first-dollar risk, such as a self-insured...more
Since the side effects of COVID-19 have set in, insurance companies have seen over 500 lawsuits filed, claiming that business interruption coverage applies to losses caused by COVID-19 related restrictions. These suits...more
In an exception to the COVID-19-related news that has dominated recent headlines, the Pennsylvania Supreme Court recently ruled in favor of an insured contending that its insurance carrier must provide defense and potential...more
On May 19, a federal judge in the Western District of Pennsylvania remanded a suit brought by a Pittsburgh restaurant seeking business interruption insurance coverage. The underlying suit, DiAnoia’s Eatery LLC v. Motorists...more
On January 22, 2016, the members of the North American Securities Administrators Association (NASAA) released the Senior Model Act. It was developed and approved to serve as a model statute for states to adopt to target...more
On May 14, 2020, the Supreme Court of Pennsylvania rejected a request by a group of Pennsylvania attorneys that the Court use its King’s Bench power in connection with a case seeking a determination of whether an insurer owed...more
In the wake of government orders shutting down or seriously limiting the operations of businesses to deal with the COVID-19 outbreak, many affected businesses have turned to their insurers for coverage. This has led to a...more