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In its recent decision in K2 Investment Group, LLP v. American Guarantee & Liability Ins. Co., 2013 N.Y. LEXIS 1461, 2013 NY Slip Op. 4270 (NY June 11, 2013), New York's Court of Appeals – New York’s highest court –...more
On June 4, 2013, the Second Circuit Court of Appeals ruled in favor of excess insurers and against former directors and officers (collectively, the “Directors”) when it concluded that the excess insurers did not have to “drop...more
In Brecek & Young Advisors, Inc. v. Lloyds of London Syndicate 2003, ___F.3d ___, 2013 WL 1943338 (10th Cir. (Kan.) May 13, 2013), the United States Court of Appeals for the Tenth Circuit broadly applied the definition of...more
Captive insurance companies may now be domiciled in Texas under a law signed by Gov. Rick Perry on Monday. Texas joins more than 30 other states that permit the formation and operation of various types of captive insurance...more
This week Federal Insurance Company achieved an important victory in a long-standing insurance coverage litigation concerning the proper trigger of excess directors and officers insurance. DLA Piper represented Federal, a...more
A federal district court in Missouri granted insurer Philadelphia Indemnity Insurance Company’s Motion for Summary Judgment in a coverage dispute finding that the insured, Secure Energy, Inc., did not provide timely notice of...more
With companies soon facing new enterprise risk and corporate governance requirements, this alert discusses whether companies are prepared for state implementation and outlines new NAIC actions relating to conducting an...more
Hiring outside legal counsel is an important decision for any company. Outside counsel may be needed to guide the business on an ongoing basis; or the business could be looking for an attorney to handle a single transaction...more
With the 2013 Maryland General Assembly’s passage of House Bill 431, Maryland became the 16th state to enact new and revised standards and reporting requirements for insurers and their parents/affiliates that are part of an...more
With Governor Nixon’s signature on May 16, 2013, the state of Missouri has adopted legislation modifying its captive insurance law. The legislation, Senate Bill 287, will allow the formation of sponsored captive insurance...more
In our August 1, 2012 blog entry titled “Insurance Coverage for Wage and Hour Litigation Claims,” we discussed the recent surge in wage and hour litigation and the potential for insurance coverage related to wage and hour...more
In its recent decision in Secure Energy v. Phila. Indem. Ins. Co., 2013 U.S. Dist. LEXIS 69320 (E.D.Mo. May 15, 2013), the United States District Court for the Eastern District of Missouri had occasion to consider whether...more
Business Interruption Insurance Business Interruption Insurance (“BII”) is a form of commercial insurance coverage that provides limited but useful protection when a business is unable to continue normal operations or occupy...more
In its recent decision in State Farm Fire & Cas. Co. v. Anderson, 2013 U.S. Dist. LEXIS 57837 (S.D. Miss. Apr. 23, 2013), the United States District Court for the Southern District of Mississippi had occasion to consider...more
In Farkas v. Nat'l Union Fire Ins. Co. of Pittsburgh, PA, No. 12-1481, 2013 WL 1459248 (4th Cir. Apr 11, 2013), the Fourth Circuit Court of Appeals affirmed a decision that put teeth into the "in fact" exclusions of a...more
In David Lerner Associates, Inc. v. Philadelphia Indemnity Insurance Company, 2013 WL 1277882 (E.D.N.Y. Mar. 29, 2013), the United States District Court for the Eastern District of New York affirmed the plain meaning of the...more
In its recent decision in Koons v. XL Insurance Company, 2013 U.S. App. LEXIS 5870 (3d. Cir. Mar. 25, 2013), the United States Court of Appeals for the Third Circuit, applying Pennsylvania law, had occasion to consider...more
Originally published in The Lawyer on March 18, 2013. It would be a mistake to think that directors and officers (D&O) insurance provides a blanket indemnity. D&O policy wordings are complex and...more
In This Issue: - Interpretation and Clarification of Key Definitions ..Applicable Manufacturers ..Applicable GPOs ..Covered Drug, Device, Biological or Medical Supply ..Covered Recipients ...more
Captive insurance companies can serve a number of objectives, including reduction of insurance costs through self-insurance, maintenance of insurance at predicted costs, control of the claims process, and direct access to...more
Originally published in LIMRA Regulatory Review on 1/2013 If there is one change in U.S. insurance regulation that directly resulted from the financial crisis of 2008, it is the expansion of regulatory oversight of the...more
In This Presentation: • How To Redeem Physician Owners, And Under What Terms? • How To Minimize Legal/Regulatory Risk When All “Safe Harbor” Requirements Are Not Being Followed? • Structuring Anesthesia Arrangements...more
A lot of what lawyers do is look for risks in our clients’ businesses and figure out how to minimize them. Aside from forming an entity to separate your personal assets from your business assets, the two best things you can...more
On December 17th, the SEC brought a settled administrative FCPA action against Allianz SE, a German insurance company with a subsidiary in Indonesia. The order does not allege violations of the FCPA’s antibribery provisions,...more
It’s not often that the law expects people to insure property they neither own nor control, but the 2010 amendments to the Common Interest Ownership Act (CIOA) do exactly that by requiring most associations to insure...more
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