General Business Civil Procedure Professional Malpractice

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Illinois Court Holds No E&O Coverage for Underlying TCPA Violation

In Margulis v. BCS Ins. Co., 2014 Ill. App. LEXIS 826 (Ill. App. Ct. 1st Dist. 2014), the Appellate Court of Illinois, First District, had occasion to consider whether an insurer has a duty to defend an insurance agent under...more

Insurance for Professional Fiduciaries

In an important decision for professionals operating in the trust and asset management sector - and their employers - the English Court of Appeal has recently provided guidance in the case of Rathbone Bros Plc and Paul...more

Insurance Recovery Law -- November 2014 #2

South Carolina Court Holds That Absent Substantial Prejudice, Late Notice Does Not Bar Insurer’s Coverage Obligations - Why it matters: A federal court in South Carolina ruled that absent a showing by an insurer...more

Accountant’s Fiduciary Duty as Independent Auditor

In North Carolina, an accounting firm now owes a fiduciary duty to its audit client, both as a matter of law and as a matter of fact. On November 4, 2014, a North Carolina appellate court held — for the first time —...more

Texas Court Construes Professional Liability Policy to Require Defense of Law Firm in Fee Dispute

In Shamoun & Norman, LLP v. Ironshore Indemnity, Inc., Cause No. 3:14-1340, In the U.S. District Court, Northern District of Texas, the federal district court construed a professional liability policy issued by Ironshore to...more

Third Circuit Upholds Defense Cost Reimbursement Clause in Professional Liability Policy

On October 10, 2014, the 3rd Circuit Court of Appeals decided Camico Mutual Ins. Co. v. Heffler, Radetich & Saitta, LLP, where it enforced a policy clause providing for repayment to the insurer of defense costs, and confirmed...more

Insurance Recovery Law -- November 2014

Payment of Costs Doesn’t Preclude Unfair Trade Practices Claim Against Insurer - Why it matters: In a significant victory for policyholders, Massachusetts’ highest court ruled that an insured had a valid unfair...more

Appellate Court Notes

- SC18975 - Connecticut Ins. Guaranty Assn. v. Drown - SC18975 Concurrence - Connecticut Ins. Guaranty Assn. v. Drown - SC18975 Dissent - Connecticut Ins. Guaranty Assn. v. Drown This started as a medical...more

Supreme Court of Mississippi Affirms Disclaimer Based on Professional Liability Exclusion

In its recent decision in Gray v. Arch Specialty Ins. Co., 2014 Miss. LEXIS 534 (Miss. Oct. 23, 2014), the Supreme Court of Mississippi had occasion to consider whether allegations against a paramedic company for negligent...more

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

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