Bankruptcy, Commercial Law & Contracts, Insurance

Reinsurance Redux - April 2013

by Braden A. Borger, Amy S. Kline, Patrick Nugent, Sean T. O'Neill, Brian Simons, Matthew Smith | Saul Ewing LLP on 4/24/2013

In This Issue: - Assignment of Right to Collect on Reinsurance Treaty Held Not to Include Underlying Arbitration Clause: On February 25, 2013, the United States District Court for the Northern District of...more

Eleventh Circuit Holds Mental Anguish Claim Not Bodily Injury

by Traub Lieberman Straus & Shrewsberry LLP on 4/12/2013

In its recent decision in N.H. Ins. Co. v. Hill, 2013 U.S. App. LEXIS 7204 (11th Cir. Apr. 10, 2013), the United States Court of Appeals for the Eleventh Circuit, applying Florida law, had occasion to consider whether an...more

Is Your D&O Policy Bankrupt-Ready? 10 Underwriting Tips To Protect Your Directors and Officers

by Rachel Kronowitz | Gilbert LLP on 4/2/2013

Protection of the personal assets of board members and c-suit corporate officers through indemnification and insurance is a challenge for financially troubled companies seeking to retain and hire the best people to help...more

Innovative Solutions Must Be Applied to Fronting Insurance and Collateral Problems in Bankruptcy

by Nicole Stefanelli, Andrew S. Zimmerman | Lowenstein Sandler LLP on 3/6/2013

Large businesses and organizations that self-insure their legally mandated insurance requirements often use “fronting” policies in which the policyholder must reimburse insurers for all losses and expenses paid on the...more

Employee Benefits in an Insolvency

by Domenico Magisano | Lerners LLP on 2/5/2013

In a judgment rendered in December 2012, the British Columbia Court of Appeal (“BC CA”) further clarified an insurer's priority for payment of unpaid health plan contributions. In Re: Ted Leroy Trucking Ltd. the bankrupt had...more

Preserving a UM/UIM Carrier’s Right to Defend

by Ian Lambeets, Justin Ward | Sands Anderson PC on 1/4/2013

In its recent decision in Transportation Ins. Co. v. Womack, the Virginia Supreme Court held that uninsured/under-insured motorist (UM/UIM) carriers who cede control over litigation to a defendant or his liability carrier...more

Jennifer Black Strutt on In re: Federal-Mogul Global Inc.: Third Circuit Holds Bankruptcy Code Preempts Anti-Assignment...

by McCarter & English, LLP on 11/12/2012

Federal-Mogul Global, Inc., one of the world’s largest manufacturers of automobile parts, and over 150 affiliates (collectively “Federal-Mogul”), filed for Chapter 11 bankruptcy as a result of asbestos-related liabilities. At...more

Business Leasing and Finance News (BLFN) Summer Edition 2012

by Patton Boggs LLP on 8/20/2012

In This Issue: 1. Latest Decisions in Lease Accounting Project Cloud Industry’s Future 2. Aviation Industry Buffeted by FAA Plans for Non-Citizen Trusts 3. BLFN Case & Comment: Secured Creditors Win Back...more

Lumbermens Mutual Casualty Company Placed into Rehabilitation: What you should be doing to protect and prepare to assert your...

by Lowenstein Sandler LLP on 7/27/2012

On July 2, 2012, the Illinois Department of Insurance (IDOI) entered an Agreed Order of Rehabilitation against Lumbermens Mutual Casualty Company and American Manufacturers Mutual Insurance Company, which is the part of the...more

10 Issues For Property Insurers Of Hard-Luck Insureds

by Zelle Hofmann Voelbel & Mason LLP on 7/23/2012

Navigating the foreclosure and/or bankruptcy process while adjusting or litigating a first-party property insurance claim can cause significant complications for insurance carriers and the attorneys who represent them. Below...more

Noteworthy Now: Sutherland Insurance Regulatory Mid-Year Review - July 20, 2012

by Sutherland Asbill & Brennan LLP on 7/20/2012

The hot month of July presents an occasion to review major regulatory developments during the first half of the year. In this report, we cover discrete topics we think will be of interest to our friends and clients. Links to...more

Federal-Mogul Court Confirms That Bankruptcy Law Trumps Anti-Assignment Provisions in Insurance Policies

by Cadwalader, Wickersham & Taft LLP on 7/19/2012

On May 1, 2012, the United States Court of Appeals for the Third Circuit in In re Federal–Mogul Global, Inc. confirmed that anti-assignment provisions in a debtor’s insurance liability policies are preempted by the Bankruptcy...more

What if Your Insurer Goes Bankrupt and No One Tells You? Perspectives on Insurance Recovery Newsletter - Summer 2012

by Pillsbury Winthrop Shaw Pittman LLP on 6/23/2012

"Does an insurance broker, after procuring an insurance policy for a developer on a construction project, owe a duty to apprise a subcontractor that was later added as an insured under that policy of the insurance company's...more

Insurance Policyholder Observer - June 2012

by Orrick, Herrington & Sutcliffe LLP on 6/18/2012

In This Issue: - The Settlement Dilemma: When a Policyholder and Insurer Disagree on Settlement - Orrick Lawyers Gain Key Trial Victory for CITGO Petroleum on Rights to Coverage - Virginia Supreme Court...more

Intersections of Bankruptcy Law and Insurance Coverage Litigation

by Pillsbury Winthrop Shaw Pittman LLP on 6/6/2012

Bankruptcy and insurance law frequently intersect and sometimes conflict. This article addresses the most important of these intersections, including the ability of a debtor to satisfy insured claims by the assignment of...more

Arbitration Limitation: Ninth Circuit Holds That a Bankruptcy Court May Refuse to Enforce an Arbitration Clause

by Mintz Levin - Bankruptcy, Restructuring &... on 5/22/2012

Clients often raise questions concerning the enforceability of arbitration clauses in bankruptcy proceedings. While this topic has been hotly debated for many years, a recent Ninth Circuit opinion, In re Thorpe Insulation...more

Texas Insurance Law Newsbrief

by Martin, Disiere, Jefferson & Wisdom, LLP on 8/1/2011

Recently, Union Insurance Company successfully defended, and recovered its attorneys’ fees, in an adversary proceeding in bankruptcy court brought by the debtor in possession for building damages allegedly caused by Hurricane...more

Be Careful What You Wish For, You Just Might GIT It

by Gilbert LLP on 6/7/2011

Originally published in Law 360 - June 7, 2011. The Third Circuit recently reached a sharply divided en banc decision concerning insurer standing to object to a debtor-policyholder’s bankruptcy plan in In re Global...more

New York’s Highest Court Requires Policyholder-Specific Choice-of-Law Analysis by Insurers in Liquidation

by Morgan Lewis on 4/21/2011

The New York Court of Appeals decision on April 5, in the Midland Insurance Company liquidation (In re Liquidation of Midland Insurance Company1) is an important affirmation of policyholder rights. In this decision, New...more

Ninth Circuit Rules That D&O Policies' "Insured Versus Insured" Exclusion Applies To Debtors-In-Possession and Assignee Creditors...

by Sheppard Mullin Richter & Hampton LLP on 7/22/2009

In Biltmore Assocs., LLC v. Twin City Fire Insurance Co., 2009 WL 1976071 (9th Cir. July 10, 2009), the United States Court of Appeals for the Ninth Circuit applied the “insured versus insured” exclusion, common in directors’...more

"Insured v. Insured" Exclusion Precludes Coverage for Officers and Directors in Chapter 11 Bankruptcy Proceeding

by Manatt, Phelps & Phillips, LLP on 7/14/2009

Debtors in a Chapter 11 reorganization may have a more difficult time recovering insurance proceeds on claims asserted against former officers and directors. Biltmore Associates v. Twin City Fire Ins. Co., _ F.3d _ (9th Cir....more

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Bankruptcy › Commercial Law & Contracts › Insurance