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Lack Of Proper Notice To Reinsurer Bars Claim For Payment Under Facultative Reinsurance Contracts

A federal district court granted summary judgment in favor of a reinsurer who had been sued by a ceding company for failure to pay under two facultative reinsurance certificates that reinsured two excess liability policies...more

“Related Acts” Reduce Insurer’s Exposure by Half

The Eighth Circuit Court of Appeals recently held that, under Minnesota law, multiple wrongful acts by a financial advisor to four plaintiffs are “interrelated” and “logically connected” within the meaning of the policy’s...more

Eleventh Circuit Affirms Summary Judgment Based on Blast Fax Exclusion

In its recent decision in Interline Brands, Inc. v. Chartis Specialty Ins. Co., 2014 U.S. App. LEXIS 6945 (11th Cir. Apr. 15, 2014), the United States Court of Appeals for the Eleventh Circuit, applying Florida law, had...more

Trio Of Cases Between Insurers And Reinsurers Reduced To Two

Within weeks of each other, three suits were filed involving overlapping parties and similar claims regarding arbitration of disputes arising from reinsurance agreements between Transatlantic and Continental and between...more

The Affordable Care Act—Countdown to Compliance for Employers, Week 36: Hacking the Affordable Care Act’s $100/Day Penalties for...

Particularly with the issuance of final regulations under the Affordable Care Act’s employer shared responsibility rules, employers have been concerned—justifiably—with the pay-or-play penalties. ...more

Federal Appellate Courts Address Stranger-Oriented Policies With Mixed Results

Federal appellate decisions concerning stranger-oriented annuity (STOA) and life insurance (STOLI) transactions are infrequent, making the First and Ninth Circuit’s decisions this winter particularly interesting....more

Ninth Circuit Says Disability Plan Participant’s Claim Is Time-Barred

The Ninth Circuit in Gordon v. Deloitte & Touche, LLP Group Long Term Disability Plan, 2014 WL 1394962 (9th Cir. Apr. 11, 2014) affirmed summary judgment in favor of a long term disability plan on the ground that the...more

Expect Focus On Antitrust Issues In The Health Care Industry

There have been a number of high profile antitrust cases brought against health care providers, and the increasing interest of both the Federal Trade Commission (FTC) and plaintiffs should be considered in any proposed...more

Favorable Secondary Life Market Report By Florida Regulator

The Florida Office of Insurance Regulation recently issued an opinion favorable to the insurance industry in its Secondary Life Insurance Market Report. Responding to a Florida Legislature directive, the OIR conducted a...more

North Carolina Appellate Court Affirms Summary Judgment In Favor Of Insurer Based Upon Vacancy Provisions

In Holmes v. North Carolina Farm Bureau Mutual Insurance Co. Inc., the court analyzed the vacancy provision of an office-lessor’s insurance policy. 2014 N.C. App. LEXIS 357 (April 15, 2014). Holmes owned office buildings at...more

California Court: Commercial Crime Policy Rescinded Due To Insured’s Material Misrepresentation Concerning Handling of Funds

Kurtz v. Liberty Mutual Insurance Co., et al., Case No. 2:11-cv-7010 (C.D.Cal. April 14, 2014), was an insurance coverage dispute arising out of the downfall of Los Angeles businessman Ezri Namvar who has also been referred...more

New York Court: Insurer's Failure To Defend Does Not Waive Coverage Defenses

New York’s highest court recently held that an insurer that does not defend its insured may, if later sued by the policyholder seeking coverage, plead policy exclusions as a defense to the coverage claim....more

Business Litigation Report -- April 2014

In This Issue: -- Main Article: DOJ’s Use of Expansive Legal Theories Broaden FCPA Jurisdiction -- Noted With Interest: Proposed Amendments to the Federal Rules Aim to Lessen Burden of Discovery --...more

Sixth Circuit Refuses To Permit Judicial Review Prior To Conclusion Of Reinsurance Arbitration Proceeding

The Sixth Circuit recently reversed a district court’s decision to stay arbitration proceedings in a dispute concerning allegations of overbilling on a reinsurance program. The arbitration clause from the treaty established a...more

Don't Neglect to Understand Insurance Jargon

Unfortunately, insurance requirements in contracts are not easy to understand. The language used in insurance requirements is not always intuitive, but we all know that the consequences of not having the right insurance can...more

FIO Focus, Issue No. 50

The President’s Working Group (PWG) on Financial Markets released its report, "The Long-Term Availability and Affordability of Insurance for Terrorism Risk" (Report), on April 17, 2014. The Report was required under the...more

Bad Faith Sentinel - April 2014

In This Issue: - Third Circuit Seeks Guidance from Pennsylvania Supreme Court Regarding Whether Insured Tortfeasor May Assign Bad Faith Claim to Injured Third Party - District of Colorado: Insurer Entitled To...more

Interaction fo Trustee Indemnities and Liability Insurance

When a trustee is sued for breach of trust and claims against his professional indemnity insurers, questions often arise as to the extent to which the trustee must first pursue any other rights of indemnity (for example...more

Real Property, Financial Services & Title Insurance Case Law Updates

I. FLORIDA STATE CASES - Quiet Title: deed reservation of right-of-way in favor of State, which applied only to tracts of land of 10 acres or more, did not attach to title of landowner of less than 10 acres and,...more

Considerations For Insurers In The Aftermath Of The MetLife Consent Decree

MetLife Consent Decree - On March 26, 2014, the New York Department of Financial Services (the "DFS") entered into a consent decree ("Consent Decree") with MetLife, Inc. and its subsidiaries, American Life Insurance...more

New York Budget Legislation

On March 31, 2014, New York State Governor Andrew Cuomo signed into law the 2014-2015 New York State Budget (Budget), which results in the most significant overhaul of New York’s franchise tax in decades. The Budget brings...more

Third Circuit Holds No Coverage for Cleanup of Decomposing Body

In its recent decision in Certain Underwriters at Lloyds v. Creagh, 2014 U.S. App. LEXIS 6853 (3d Cir. Apr. 14, 2014), the United States Court of Appeals for the Third Circuit, applying Pennsylvania law, had occasion to...more

Coverage Opinions Remain Privileged in Bad Faith Action Even Where Gist of Recommendation is Set Forth in Letter to Insured

As a matter of first impression, the Supreme Court of West Virginia recently held that coverage opinion letters were protected by the attorney-client privilege even though the insurer subsequently sent correspondence to its...more

California Court Of Appeals: Discrepancy Between Insurer’s Initial Repair Estimate And Actual Cost Of Repairs Did Not Constitute...

Meuser v. Allstate Ins. Co., A136243, 2014 WL 802535 (Cal. Ct. App. Feb. 28, 2014). Court of Appeals of California finds no breach of contract or bad faith where actual cost of repairing fire-damaged home was higher...more

High Tide for Lapse Cases? New York Federal Court Holds That Investor Lawsuit Is Not Barred by Statute of Limitations

On March 28, 2014, a New York federal court issued an opinion that may have a significant impact on the already increasing number of lapse-related lawsuits in the life insurance industry. In Lebovits v. PHL Variable Insurance...more

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