News & Analysis as of

General Business Insurance

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

Appellate Court Precludes Assignee Of Reinsurance Claims From Re-Litigating Lack Of Entitlement To Arbitration

by Carlton Fields on

In 1986, Pine Top Insurance Company became insolvent and was placed into liquidation. The liquidator eventually sold Pine Top’s accounts receivable, including reinsurance claims, to an entity named Pine Top Receivables of...more

New York Court Upholds Suit Limitation Period, Ruling Appraisal is Not a Condition Precedent to Filing Suit

by Carlton Fields on

Courts will generally uphold reasonable suit limitation periods in property insurance policies, if the insurer does not affirmatively waive or extend them. In MZM Real Estate Corp. v. Tower Ins. Co. of New York, No....more

Five Pitfalls of Cybersecurity Insurance: Lessons from the United States

by Bennett Jones LLP on

Given the increasing threat of cyberattacks and the corresponding costs, businesses are increasingly considering cybersecurity insurance. But insurance is only as effective as the scope of the coverage. Though Canadian...more

Planning ahead: the FCA's 2017/18 Business Plan priorities and strategic framework

by Hogan Lovells on

The FCA's latest Business Plan demonstrates a commitment to pushing forward on both existing and new initiatives across sectors, focused on maintaining fair consumer outcomes in the rapidly changing UK financial services...more

UK: FCA 2017/2018 Business Plan - Sector priorities for general insurance

by Hogan Lovells on

In its recently published 2017/2018 Business Plan the FCA outlines its priorities for the general insurance sector over the coming year and beyond....more

Blog: The Supreme Court considers meaning of the words “a series of related matters or transactions” within an aggregation clause

by Cooley LLP on

In the recent Supreme Court decision AIG Europe Ltd v Woodman & Ors [2017] UKSC 18 the court considered the meaning of the words “a series of related matters or transactions” within an aggregation clause in order to determine...more

The Road to Autonomous Vehicles: Insurance Implications

by Jones Day on

As autonomous vehicles move toward mass implementation, businesses in this industry segment are studying product liability questions that will arise, some of which are likely to be distinctly different in character from the...more

Appraisal Award Unenforceable Where Suit Limitation Period Expired Prior To Filing Suit: New York County Dismisses Storm Sandy...

Suit limitation provisions in insurance policies shorten the statutory period of time that a plaintiff may bring a suit against an insurer for certain causes of action. A New York court recently held that an appraisal award...more

Expect Focus - Life Insurance: Risky Business, Volume I, March 2017

by Carlton Fields on

Regulators Demand Third-Party Risk Management - While third-party risk management has been a required component of an effective enterprise risk management program for many years, the topic is receiving elevated...more

Cost of Insurance Litigation Review

by Carlton Fields on

As illustrated by the two examples here, recent decisions on preliminary motions seeking to dispose of or narrow the scope of claims challenging COI rate determinations suggest the industry may be enmeshed in litigation for...more

Louisiana Federal Court Finds Removal Proper As Dispute Could Relate To An Underlying Arbitration Clause In Insurance Policy

by Carlton Fields on

In this case, a Louisiana federal court denied a motion for remand of a former machinist’s asbestos-related claim, finding that an English insurer’s removal from state court was appropriate and that the dispute could relate...more

Fifth Circuit Holds that Insurer’s Payment to Insured’s Independent Counsel Erodes Policy Limits

A recent Fifth Circuit case highlights the potential risks of purchasing a defense-within-limits policy: If an insurer is obligated to hire independent counsel due to a conflict of interest, that counsel’s fees may erode your...more

Second Circuit Affirms Dismissal of "Shadow Insurance" Lawsuits

by Carlton Fields on

In a summary order issued February 23, the United States Court of Appeals for the Second Circuit affirmed the dismissal of two so-called “shadow insurance” putative class action lawsuits — Ross v. AXA Equitable Life Insurance...more

Supreme Court says lawyer's referral of client to a doctor for treatment is attorney-client privileged communication, and out of...

The Florida Supreme Court declared that the attorney-client privilege shielded a motor vehicle accident plaintiff from being required to disclose that her attorney had referred her to a doctor for treatment. In Worley v....more

Transparency Watch: Federal District Court Mandates Automatic Disclosure of Third-Party Funding Arrangements for Class Actions

by Carlton Fields on

In January, the U.S. District Court for the Northern District of California announced a change that makes litigants in putative class action suits subject to requirements mandating automatic disclosure of third-party funding...more

The Ninth Circuit Finds California’s Illustration Statutes Can Serve as the Predicate for UCL Liability

by Carlton Fields on

On March 3, the Ninth Circuit in Walker v. Life Ins. Co. of the SW, ruled that an alleged violation of California’s life insurance illustration statutes could serve as a predicate for liability under the California Unfair...more

Court Applies “Fiduciary Exception” to Mutual Fund Trustees’ Attorney-Client Privilege

by Carlton Fields on

In Kenny v. Pacific Inv. Mgm’t Co. LLC (W.D. Wash.), a federal judge recently ruled that a mutual fund’s independent trustees must produce certain documents that the trustees had redacted or withheld based on attorney-client...more

Arkansas Revises Regulation Of Captive Insurance Companies To Create Incorporated Protected Cells And Dormant Captive Insurance...

by Carlton Fields on

Arkansas has amended its statutory regulation of captive insurance companies in two significant ways. First, following the lead of several other states and foreign jurisdictions, the amendment provides for the creation of...more

Eleventh Circuit Finds Dual Citizenship Defeats CAFA Diversity

by Carlton Fields on

The Eleventh Circuit recently denied a petition to appeal an order remanding a putative class action to state court, finding the defendant corporations’ dual citizenship defeated minimal diversity under the Class Action...more

SEC Staff Allows Brokers to Set Commissions for Mutual Fund “Clean Shares”

by Carlton Fields on

On January 11, the SEC staff issued an interpretive letter to the Capital Group (CG Letter) stating that Section 22(d) of the Investment Company Act does not prevent brokers from charging commissions for effecting...more

SEC Facilitates Product Charge Variations

by Carlton Fields on

SEC staff in December issued a Guidance Update that provides significant flexibility regarding how mutual funds and variable annuities (VAs) reflect multiple charge structures in their SEC registration statements....more

Is your Motor Vehicle Loan Safe?

by Nexsen Pruet, PLLC on

Insurance policies may not protect the credit union's lien - Today’s insurance world is a complicated scene. Insureds have more choice than ever for insurance coverage. If a federal credit union has a lien on a motor...more

The Answers to Some of Your Questions About What Airlines Can Do When a Flight is Overbooked and Someone Is Going to Have to Get...

Suddenly, the entire world is interested in learning about the laws governing airlines’ actions when a flight is overbooked. It isn’t every day that the entire world suddenly wants to learn all about something that you’ve...more

Sprouting Activity at the NAIC

by Carlton Fields on

Various NAIC groups have planted seeds for a number of regulatory initiatives that impact life insurers. The Cybersecurity Task Force has been tilling the ground in preparation for a third draft of the NAIC Cybersecurity...more

New York Court of Appeals Holds That Tower Crane Damaged By Superstorm Sandy Is Not Covered by Project’s Builder’s Risk Insurance...

by Pepper Hamilton LLP on

Lend Lease (US) Constr. LMB Inc. v. Zurich Am. Ins. Co., No. 11, 2017 N.Y. LEXIS 112 (N.Y. Feb. 14, 2017) - Early, in its opinion, the New York Court of Appeals noted that “[o]ne of the most dramatic images of...more

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