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General Business Insurance

Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.

Bottini v. GEICO: Parties to Bad Faith Action Not Bound by $30.8 million-dollar Verdict Without Appellate Review

For years, when a bad faith action was brought pursuant to a jury verdict in excess of policy limits in the underlying UM claim, everyone assumed the jury verdict was binding in the bad faith action. Then, Bottini v. GEICO...more

Don’t Forget To Calendar Your Deadlines – Especially The Statutory Ones!

by Farrell Fritz, P.C. on

If you commence an action by way of summons with notice, you must bear in mind the strict time limitations imposed by CPLR 3012(b). When the other party timely serves a written demand for a complaint, you have exactly twenty...more

How Insurtechs Maximize Profits and Competitive Advantage

by Mintz Levin on

The potential to disrupt the historic insurance industry model has made insurtech one of the hottest new areas of innovation and investment, with entrepreneurs developing technologies at a breakneck pace and venture capital...more

Policyholders Beware: New York Court of Appeals Restricts Additional Insured Coverage Under Common Policy Endorsement to Injuries...

by K&L Gates LLP on

Recently, the New York Court of Appeals, in Burlington Insurance Company v. NYC Transit Authority, held that a common insurance policy endorsement extending coverage to additional insureds for liability for bodily injury...more

UK: Government sets out in the Queen's Speech measures for protecting insurance customers

by Hogan Lovells on

The government has today set out the details of its legislative programme for the next two years in the Queen’s Speech.  One of the issues to be addressed in this parliamentary session will be tackling the “compensation...more

New HOA Estoppel Requirements Signed into Law

Title insurance companies and closing agents handling transactions involving homeowners’ and condominium associations have long been frustrated by the timing and cost associated with obtaining estoppel letters from these...more

Florida's Third District Court of Appeals provides a warning: When insureds communicate about their policy needs, agents better...

In Kendall South Medical Center v. Consolidated Insurance Nation, No. 3D16-926, 2017 WL 1908376, *1 (Fla. 3d DCA May 10, 2017), the Third District Court of Appeals reversed the lower court’s fourth dismissal of Kendall South...more

Depreciation of Labor Costs When Determining Actual Cash Value: Henn v. American Family

by Cozen O'Connor on

In February, the Nebraska Supreme Court held that it is acceptable for insurance companies to depreciate labor costs when determining the actual cash value (ACV) of damaged property, even when the insurance policy does not...more

The New 2016 ALTA Commitment with Florida Modifications: Expressing the Limitations on Liability

by Carlton Fields on

A significant change to one of the standard title insurance forms recently took effect. The new 2016 ALTA Commitment with Florida Modifications both streamlines the existing features of the title insurance commitment and, for...more

New ALTA Closing Protection Letter With Florida Modifications Corrects Unfortunate Case Law

by Carlton Fields on

The new American Land Title Association (ALTA) Closing Protection Letter (CPL) form recently took effect in Florida. The new form both streamlines the previous CPL’s language and addresses and corrects many of the problems...more

Kentucky Federal Court Finds Subject-Matter Jurisdiction Has Not Been “Reverse Preempted” By Application Of Kentucky’s Insurers...

by Carlton Fields on

The question presented to the Court was “whether federal law has opened the door for state law to ‘reverse preempt’ the diversity jurisdiction statute.” The McCarran-Ferguson Act was enacted by Congress to prevent federal...more

Shot Through the Heart, But the Excess Carrier Isn’t to Blame: Georgia Federal Court Finds Policy’s Broad Firearms Exclusion Bars...

by Carlton Fields on

On June 1, 2017, the U.S. District Court for the Northern District of Georgia granted summary judgment in favor of AIG Specialty Insurance Co. in a case involving the application of the firearms exclusion in Powe v. Chartis...more

NYS Cyber Regulation Countdown: Continuous Monitoring

In our series of posts leading up to the August 28th deadline for the first phase of requirements under New York’s cybersecurity regulation, the Patterson Belknap team looks at issues that institutions face as they implement...more

May a vindicated trustee be reimbursed personally from the trust estate even for those defense costs that were covered by his...

by Charles E. Rounds, Jr. on

As to whether the vindicated trustee’s claim against the trust estate for defense counsel’s fees should be offset by payments made to defense counsel by the trustee’s personal liability insurance carrier, at least one court...more

DFS Cyber Compliance Nightmare? New survey reports less than half of financial firms will meet deadline

A new survey by the Ponemon Institute reports that less than half of the financial institutions covered by New York’s sweeping new cybersecurity regulation say they will “likely” meet next February’s compliance deadline. And...more

Another Disappointed “Additional Insured.”

by Butler Snow LLP on

We’ve used this headline before. We’ll almost certainly use it again. The case this time, just handed down by the New York Court of Appeals, is Burlington Insurance Co. v. NYC Transit Authority....more

Georgia Federal Court Finds Policy’s Broad Firearms Exclusion Bars Coverage

by Carlton Fields on

The U.S. District Court for the Northern District of Georgia granted summary judgment in favor of AIG Specialty Insurance Co. in a case involving the application of the firearms exclusion in Powe v. Chartis Specialty...more

Blog: Commercial Court Upholds Right Of Insurer To Avoid Policy For Misrepresentation And Non-Disclosure

by Cooley LLP on

In Dalecroft Properties Ltd v Underwriters [2017] EWHC 1263 (Comm), Mr Richard Salter QC (sitting as a Deputy Judge of the High Court) confirmed the defendant insurers’ right to avoid a property insurance policy following...more

Latest developments of Italian case law for index-linked and unit-linked policies

by Hogan Lovells on

The classification of index and unit linked policies as insurance or financial products continues to be debated in Italy, notwithstanding the Supreme Court’s decision no. 6061 of 18 April 2012....more

Texas Supreme Court Rules on Discoverability of an Insurer’s Attorney’s Fee Bills

by Cozen O'Connor on

Are an insurer’s attorney’s fee bills discoverable in first party claims? In In re Nat’l Lloyds Ins. Co., 2017 Tex. LEXIS 522 (Tex. 2017), the Texas Supreme Court considered this question in a hail MDL dispute and answered...more

Your Contract Requires You To Be Named as an Additional Insured: Are You?

by Reed Smith on

Last week, New York joined the ranks of several states that may limit a government contractor’s access to insurance coverage despite being added, as set forth in the contract, as an “additional insured” under a prime or...more

Court Rejects Motion To Seal Summary Judgment Exhibits When Moving Party Fails To Provide Sufficient Factual Justification For...

by Carlton Fields on

Utica Mutual Insurance Company’s request that numerous exhibits filed in support of summary judgment be sealed has been rejected by a federal district court, which found that Utica’s general statements about the documents...more

Fifth Circuit Reverses Mississippi District Court’s Interpretation of “Ambiguous” Language to Nullify Defense Within Limits...

by Carlton Fields on

Insurance policies that include the cost of defending a particular claim or action within the policy’s limit of liability, often referred to as “burning,” “eroding,” or “defense within” limits policies, are common in the...more

Seventh Circuit OKs Exclusive Network Agreements Between “Must-Have” Hospital and Health Insurers

by Mintz Levin on

In an opinion written by Judge Posner, the Seventh Circuit on Friday gave its stamp of approval to a “must-have” hospital’s bargaining to exclude competitors from certain narrow-network payor contracts in and around Peoria,...more

Resolving Disputes Regarding Value of the Loss through the Appraisal Process

by Hellmuth & Johnson PLLC on

With an increase in storm damage events throughout the Midwest, insurers are becoming increasingly frugal when adjusting storm damage losses. In the past, disputes regarding the value of the loss typically involved...more

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