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Insurance Recovery Law - July 2014 #3

Washington Supreme Court Rules That It Was Error To Delay Adjudication Of Insurer’s Duty To Defend, But Should Stay Discovery As To Insurer’s Coverage Defenses - Why it matters: The Washington Supreme Court...more

C.D. Cal. Dismisses False Claims Act Qui Tam Suit Against Group of Lenders

On July 15, the U.S. District Court for the Central District of California dismissed a relator real estate agent’s suit against a group of lenders the relator alleged submitted claims for FHA insurance benefits to HUD based...more

Defendants Granted Limitations-Based Summary Judgment In Captive Reinsurance Class Action

A putative class of mortgage consumers sued Flagstar Bank and its captive reinsurer alleging that they engaged in an illegal “kickback” scheme with private mortgage insurers, which scheme artificially inflated the price of...more

Real Property, Financial Services & Title Insurance Update

Easements: trial court erred in denying statutory easement or “way of necessity” where owners established all elements pursuant to section 704.01(2), Fla. Stat. – Messer v. Sanders, No. 1D13-3084 (Fla. 1st DCA July 9, 2014)...more

Sixth Circuit Holds That Market Crash Cannot Be Considered in Determining ACV

In Whitehouse Condo. Group, LLC v. Cincinnati Ins. Co., 2014 U.S. App. LEXIS 11708 (6th Cir. June 17, 2014), the insured condominium building located in Flint, Michigan was destroyed by a fire. The parties disagreed over the...more

The Latest on the Use of Retained Asset Accounts to Pay Life Insurance Benefits

In Merrimon v. Unum Life Insurance Co. of America, 2014 WL 2960024 (1st Cir. July 2, 2014), the U.S. Court of Appeals for the First Circuit became the third circuit court to approve an insurance company’s use of a retained...more

Bill 15 – New Auto Insurance Legislation

Bill 15, introduced in the Ontario Legislature on July 15, 2014, is a combination of two earlier bills which died with the spring election call. It is divided into 5 areas, being amendments to the Consumer Protection...more

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

When the Minimum is Not Enough: Eleventh Circuit Rules that Lenders May Require Borrowers to Obtain More than the Minimum Flood...

The United States Court of Appeals for the Eleventh Circuit recently resolved a district court split regarding minimum flood insurance coverage by holding that a lender may require a borrower who has a federally-insured...more

Real Property, Financial Services, & Title Insurance Update

Foreclosure: reservation of jurisdiction in final judgment to determine amount of attorneys’ fees renders that portion of judgment non-final and non-appealable – BAC Home Loans Servicing LP v. Ridgway, No. 1D13-3853 (Fla. 1st...more

De Facto Plan Administrator Claims in the First Circuit

According to 29 U.S.C. § 1132(c)(1)(B) of ERISA, it is within a court’s discretion to award a penalty of up to $110 per day based on an administrator’s failure to comply with a plan participant’s or beneficiary’s request for...more

First Circuit Upholds Use of Retained Asset Accounts in ERISA Class Action

On July 2, 2014, a unanimous panel of the United States Court of Appeals for the First Circuit held that Unum Life Insurance Company’s practice of using Retained Asset Accounts (RAAs) to pay death benefits claims on group...more

Amlin v Austcorp – It’s all in the wording

In Amlin Corporate Member Ltd v Austcorp Project No 20 Pty Limited [2014] FCAFC 78, the Full Court of the Federal Court rejected the insurers’ argument that certain policies did not respond because the claim was made before...more

Real Property, Financial Services & Title Insurance Case Law Update

Neutral Evaluation/Sinkhole Litigation: trial court erred in sustaining objection to insurer’s notice of stay to invoke neutral evaluation process in lawsuit for breach of contract and damages for sinkhole losses to property...more

High Court allows application for permission to bring judicial review proceedings relating to the jurisdiction of the Financial...

In this case report, Sarah Hitchins, an associate in Allen & Overy LLP’s Banking, Finance and Regulatory Litigation Group, considers the High Court’s decision to allow an application for permission to bring judicial review...more

Recent Cases of Note

District of New Jersey Denies Class Certification in Title Insurance Case on Grounds of Ascertainability - In the latest in a series of decisions from courts in the Third Circuit regarding ascertainability of a...more

D.C. Circuit Holds Government False Claims Case Not Precluded By National Mortgage Settlement

On June 10, the U.S. Court of Appeals for the District of Columbia affirmed the district court’s decision not to enjoin the federal government from pursuing alleged False Claims Act violations against a bank that argued such...more

Second Circuit Vacates Judge Rakoff’s Rejection of SEC Settlement: Consent Decree “Fair and Reasonable” Even Without Admission of...

D&O insurers should be mindful of a recent development in the Second Circuit that could have implications for D&O insurers. The developments stem from a key decision in the Southern District of New York in 2011. On November...more

New York to D&O Insureds: “You Can’t Relate!” without Sufficient Factual Overlap

In Glascoff v. OneBeacon Midwest Ins. Co., 2014 WL 1876984 (S.D.N.Y. May 8, 2014), the U.S. District Court for the Southern District of New York held that two claims – which seemingly contained allegations concerning...more

I Can’t Get No SATISFACTION-- In the Eleventh Circuit, Is Discretionary Language Still "Satisfactory to Us"?

Ever since the United States Supreme Court addressed the question of whether a wholesale adoption of the "arbitrary and capricious" standard of review would be appropriate for judicial review of denial of benefit...more

Employee Benefit Plan is Governmental Plan, Even Though Employees are Not, says District Court in 11th Circuit.

It is a deceptively simple statement: Governmental employee benefit plans are exempt from ERISA. 29 U.S.C. § 1003(b)(1). But what about an employee benefit plan of an entity affiliated with a governmental entity, but whose...more

Real Property, Financial Services & Title Insurance Case Law Update

Conditions Precedent: summary judgment precluded by disputed issues of fact as to extent insured parties sufficiently complied with provisions of homeowners’ insurance policy – Solano v. State Farm Florida Insurance Co., No....more

Ask And You Shall Receive! Employers Should Interpret Requests For Plan Documents Broadly

The Sixth Circuit Court of Appeals recently joined a number of other appellate courts in adopting the “clear notice” standard under which a written request for copies of benefit plan documents subject to the Employee...more

Court Quashes Subpoena Seeking Unissued Arbitration Award

After striking the affirmative defense of failure to mitigate, a court quashed a subpoena issued to an arbitrator seeking an unissued arbitration award in a dispute between certain defendants and their reinsurer....more

New Minnesota Law Allows Investors to File Lawsuits Seeking to Validate Life Insurance Policies Before They Mature

In most states, carriers may void life insurance policies for lack of insurable interest at any point, even after the two-year contestability period prescribed by statute. This loophole allows insurers to continue collecting...more

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