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Do Lawyers Professional Liability Policies fall within the “no prejudice” amendments to New York’s Insurance Law for late notice?

The New York State Insurance Department has issued an ambiguous opinion taking the position that the amendment to Insurance Law §3420(a)(5), changing the “no prejudice” rule, applies to all liability policies, which arguably...more

“Prior or Pending Litigation” Exclusion Bars Coverage for Litigation that Was Unknown to Policyholder

Companies that do business with the federal government, or whose business transactions otherwise involve payments by the government, undoubtedly understand the exposure they face to “whistleblower” or “Qui Tam” lawsuits...more

Hacking Coverage Dispute Under Professional Liability Policy Gets the Go-Ahead from Federal Court

On October 6, 2014, a federal court denied a professional liability insurer’s motion to dismiss a coverage dispute over a $3.5 million payment the policyholder-bank made when a bank customer’s account was targeted by a...more

New Jersey’s “Direct Action Statute” Is Not A Bar To Judgment Creditor’s Coverage Action

A New Jersey appellate court recently addressed that state’s “direct action statute,” concluding that it did not prevent judgment creditors from pursuing a coverage action arising out of an LMX reinsurance spiral. The...more

Insured Not Justified in Ignoring Claims-Made-and-Reporting Requirements

An insured’s attempt to circumvent the claims-made-and-reporting requirements of its professional liabilty policy, by arguing that the doctrine of promissory estoppel applied, was thwarted when a court ordered summary...more

U.S. Bank v. Indian Harbor: Another Blow to the Restitution/Disgorgement Defense

In recent years, purchasers of D&O and professional liability insurance have been stunned to learn that their carriers have denied coverage for a wide range of claims on the theory that their policies do not cover loss that...more

Texas Court Holds Insured Failed to Timely Report Claim

In its recent decision in Netspend Corp. v. AXIS Ins. Co., 2014 U.S. Dist. LEXIS 97656 (W.D. Tex. July 18, 2014), the United States District Court for the Western District of Texas had occasion to consider what constitutes a...more

New Jersey Court Allows Rescission of Policy and Awards Damages to Insurer

In its recent decision in Colony Ins. Co. v. Kwasnik, Kanowitz & Assocs., P.C., 2014 U.S. Dist. LEXIS 87659 (D.N.J. June 27, 2014), the United States District Court for the District of New Jersey had occasion to consider the...more

New York Court Holds Underlying Claims Not Interrelated

In its recent decision in Glascoff v. OneBeacon Midwest Ins. Co., 2014 U.S. Dist. LEXIS 64858 (S.D.N.Y. May 8, 2014), the United States District Court for the Southern District of New York had occasion to consider the concept...more

Eighth Circuit Affirms Disclaimer Based on Patient Bodily Injury Exclusion

In its recent decision in Volk v. Ace Am. Ins. Co., 2014 U.S. App. LEXIS 6570 (8th Cir. Apr. 10, 2014), the United States Court of Appeals for the Eighth Circuit, applying Minnesota law, had occasion to consider the...more

Summary Judgment In Favor Of Broker In Malpractice Case Reversed, Where Special Relationship With Insured May Have Existed

In a case involving alleged broker malpractice with respect to certain underinsured business interruption losses under a commercial property insurance policy, the New York high court reversed a lower appellate court’s...more

District Court Declines To Consolidate Disputes Arising Out Of Two Reinsurance Contracts

Plaintiff Georgia Casualty & Surety Company entered into two reinsurance contracts with Defendant Excalibur Reinsurance Corporation, formerly known as PMA Capital Insurance Company. Both reinsurance contracts contained...more

Illinois Court Holds Services Performed By Sub for Parent Comes Within E&O Policy

In its recent decision in Hilco Trading LLC v. Liberty Surplus Ins. Co., 2014 Ill. App. LEXIS (Ill. 1s Mar. 17, 2014), the Appellate Court of Illinois for had occasion to consider whether appraisals and evaluations prepared...more

Moss v Eagleston [2014] NSWSC 6

In Moss v Eagleston [2014] Mr Moss supplied information to Nationwide News Pty Ltd about his criminal background and association with Shapelle Corby. Mr Moss then sued Nationwide News, alleging they had breached a contractual...more

Appellate Court Notes: Week of March 10

SC19095 - Edgerton v. Clinton / SC19095 Dissent - Edgerton v. Clinton - Town appealed a $12 million jury verdict when a volunteer fire fighter was sideswiped and then took off after the offending vehicle. He relayed to...more

In K2 Investment, NY high court reverses itself, confirms well-established case law

The New York Court of Appeals, in K2 Investment Group, LLC v. American Guarantee & Liability Insurance Company, 2014 WL 590662 (N.Y.), 2014 N.Y. Slip Op. 01102 (N.Y. Feb. 18, 2014), has vacated its own prior decision,...more

Advocate’s Immunity Again

We recently reported on the New South Wales Supreme Court’s decision in Attwells v Jackson Lalic [2013] NSWSC 1510 in which the Court declined to strike out a claim against a solicitor on the grounds of immunity from suit....more

Insurance Recovery Law -- Dec 11, 2013

FEMA Clarifies Time Extension for Victims of Sandy - Why it matters: Given the unprecedented meteorological event known colloquially as “Superstorm Sandy,” the Federal Emergency Management Agency granted multiple...more

The Potential Pitfalls of Joint Representation

A recent California Court of Appeal opinion, Yanez v. Plummer, provides a cautionary tale for in-house counsel or outside attorneys who jointly represent their institutional client’s employees or agents in depositions. If...more

The Perils of In-House Counsel Simultaneously Representing Company and Employee

In Yanez v. Plummer (Nov. 5, 2013, C07026), the Third Appellate District issued an opinion highlighting the perils for an in-house lawyer who simultaneously represents the company and an employee. Union Pacific fired Michael...more

Employer’s Lawyer Who Defended Employee At Deposition May Be Liable To The Employee For Malpractice

Corporations may have free speech rights (Citizens United v. FEC, 558 U.S. 310 (U.S. 2010)) but they can’t talk. Thus, any deposition testimony must come from the mouths of people who are the agents, employees and directors...more

Gotham Insurance Company Finds Dark Knight

The United States District Court for the Middle District of Florida recently entered summary judgment in favor of Gotham Insurance Company (“Gotham”), finding no coverage for a substantial default judgment entered against its...more

Insurance Recovery Law -- Oct 18, 2013

New York Court Rules That Conflict Between Exclusion and Grant of Coverage Created Ambiguity in Exclusion Requiring Trial - Why it matters: In a coverage dispute arising out of the Madoff debacle, a financial bond...more

Managing Professional Liability Litigation Against Accounting Firms (Part 3)

This is Part 3 of a three-part series discussing the basic components of a professional liability lawsuit brought against an accounting firm and its partners and factors a firm’s managing partner should consider before and...more

Supreme Court of Washington Holds Carrier Cannot Sue Defense Counsel

In its recent decision in Stewart Title Guar. Co. v. Sterling Sav. Bank, 2013 Wash. LEXIS 769 (Wash. Oct. 3, 2013), the Supreme Court of Washington had occasion to consider whether an insurer can pursue a malpractice action...more

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