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Insurance Recovery Law - July 2014 #2

U.S. Bank Wins Coverage Under Delaware Law For $55 Million Overdraft-Related Settlement - Why it matters: In a victory worth tens of millions of dollars, a Minnesota federal court ruled that U.S. Bank is...more

Responding To Litigation Risk From Climate Change - Informed Decision Making

In the last few weeks, several major organisations, including the OECD and the US federal government, have released reports on the need to deal with climate change risk. Significantly, the world's largest global insurance...more

A Slow-Burning Fuse: Climate Change From The Risk Management Trenches

This morning was the only professional session on climate change at the 2014 annual conference of RIMS, the Risk and Insurance Management Society, the preeminent risk management trade group in the country. ...more

Developers Turn to Tax Opinion Insurance to Solve the “Starting Physical Work of a Significant Nature” PTC Eligibility Issue

Industry reports suggest that three developers have purchased tax opinion insurance to provide financial assurance to tax equity investors that their projects will be production tax credit (“PTC”) eligible. Use of this...more

A Whole Lotta Shaking Going On In Central US

When underwriters evaluate potential causes of loss in the central United States, perils such as tornados and high winds, hail, and fire are generally identified as the primary risks of loss. But earthquakes? That is not a...more

Wisconsin Court Holds Gas Line Explosion Not Covered Under CPL Policy

In its recent decision in Acuity v. Chartis Specialty Ins. Co., 2014 Wisc. App. LEXIS 201 (Wisc. App. Mar. 12, 2014), the Court of Appeals for Wisconsin, District Two, had occasion to consider whether damages resulting from a...more

The Offshore Master Service Agreement

The offshore MSA is a fundamental contract for any operator or service company. It is the framework by which all work is performed offshore and, importantly, establishes which party assumes the risk of loss for people,...more

How Many Occurrences? Determining the Number of Occurrences for Fracking-Related Claims in CGL Policies

The controversy surrounding the use of the natural gas drilling process of hydraulic fracturing (fracking) to extract oil and gas is well-documented. While proponents argue that fracking presents the opportunity for an...more

Potential Recovery Opportunities Arising From Pollution Claims

Energy production in the United States is at an all-time high. In 2013, an average of 7.5 million barrels of oil were pumped every day, which bested the previous production record (2012) by one million barrels. Domestic oil...more

New York Court Holds UST Sublimit Applicable to Underlying Loss

In its recent decision in Two Farms, Inc. v. Greenwich Ins. Co., 2014 U.S. Dist. LEXIS 1629 (S.D.N.Y. Jan. 7, 2014), the United States District Court for the Southern District of New York had occasion to consider the whether...more

The Fuss Over Fracking: An Examination of the Insurance Issues Associated with Hydro-Fracking

Hydraulic fracturing, commonly referred to as “fracking,” is a drilling process used to extract underground oil or natural gas trapped in hard to reach shale rock formations deep in the earth. The process involves well...more

Texas Court Declines Indemnity For One’s Own Bad Acts

We begin with a philosophical question: Should a person be rewarded for bad behavior? Despite twerkee Molly Cyrus (and her daddy), the Kardashians and, at least for a while Richard Nixon, the answer should be, no. ...more

Recent Developments in Additional Insured Coverage in Texas

As part of the ongoing insurance coverage dispute following the sinking of the Transocean offshore drilling unit Deepwater Horizon, the United States Court of Appeals for the Fifth Circuit has issued, and the Texas Supreme...more

Oklahoma Court Enforces Terms of Pollution Buy-Back

In its recent decision in Star Ins. Co. v. Bear Prods., Inc., 2013 U.S. Dist. LEXIS 148559 (E.D. Okl. Oct. 16, 2013), the United States District Court for the Eastern District of Oklahoma had occasion to consider the...more

Colorado Flooding Implicates Insurance Coverage for Energy Companies

The damage caused by the recent flooding in Colorado is catastrophic and has evermore changed the lives of many who live in and around the affected communities. As the waters recede, the impact of the destruction is being...more

The Lone Ranger Rides Again – The Fifth Circuit’s Withdrawal of its Ranger Opinion and Certification to the Texas Supreme Court

The U.S. Court of Appeals for the Fifth Circuit has responded to the request for rehearing in Ranger Insurance, Ltd. v. BP P.L.C., 710 F.3d 388 (5th Cir. Mar. 1, 2013) by withdrawing its March 1, 2013 opinion (reversing the...more

Hold On To Your Insurance … Federal Court Certifies Deepwater Horizon Questions To Texas Supreme Court

BP’s woes from the Deepwater Horizon disaster in the Gulf continue. The federal Fifth Circuit in In re: Deepwater Horizon, withdrew an opinion of a three-judge panel and certified questions for consideration by the Supreme...more

New Developments Involving the Deepwater Horizon Incident

The U.S. Court of Appeals for the Fifth Circuit reversed course on August 29th and withdrew its earlier opinion in a dispute involving Transocean Deepwater Drilling, Inc., Ranger Insurance, Limited, and BP, P.L.C., among...more

Michigan Court Holds Pollution Exclusion Applies to Emissions Permit Violation

In its recent decision in Arch Ins. Co. v. Commercial Steel Treating Corp., 2013 U.S. Dist. LEXIS 121574 (E.D. Mich. Aug. 27, 2013), the United States District Court for the Eastern District of Michigan had occasion to...more

Risks and Rewards: Insurance Coverage for Fracking Operations

Hydraulic Fracturing, or "fracking", has been used as an extraction tool for natural gas and oil for several decades. Relatively recent developments in horizontal fracking technology have opened major new shale plays...more

Late notice by petroleum transporter results in insurance coverage denial

In the matter of Starr Indem. & Liab. Co. v. SGS Petroleum Serv. Corp., Case No. 12-20545 (5th Cir. June 18, 2013), the U.S. Court of Appeals for the Fifth Circuit recently upheld their prior decision in Matador Petroleum...more

Second Circuit Holds Pollution Liability Policy Not Triggered

In its recent decision in Colonial Oil Indus. v. Indian Harbor Ins. Co., 2013 U.S. App. LEXIS 12946 (2d Cir. June 25, 2013), the United States Court of Appeals for the Second Circuit, applying New York law, had occasion to...more

The Commercial Paper - June 2013: Hydraulic Fracturing Leases and the Mortgage Loan Market

Hydraulic fracturing or “fracking,” which was first implemented in 1949, is the process of fracturing layers of rock beneath the earth’s surface with highly pressurized liquid resulting in the release of fossil fuels such as...more

Broad Form Indemnities In Construction Contracts

Indemnifying someone for their own negligence is a tough pill to swallow. ...more

Is That Covered? Tanker Fire

On May 9, 2013, a tanker truck carrying thousands of gallons of diesel fuel, overturned and caught on fire on a ramp near Interstate 81 and route 322 in Harrisburg....more

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