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New York Department Of Financial Services Fines Metlife Subsidiaries $60 Million

On March 31, 2014, Benjamin M. Lawsky, Superintendent of the New York Department of Financial Services ("NYDFS") announced an Agreement under which MetLife will pay $60 million for insurance licensing violations by two of its...more

Minnesota Supreme Court Tolls Payment Bond Deadlines for Fraudulent Concealment

On April 2, 2014, the Minnesota Supreme Court confirmed that fraudulent concealment of a cause of action by a principal on a surety bond will toll a contractual limitations period for claims against the surety. The Court’s...more

New York DFS Obtains Substantial Settlement In Licensing Enforcement Action

On March 31, in an enforcement action with potential implications for a range of financial service providers, the New York State Department of Financial Services (DFS) announced that an insurance holding company agreed to pay...more

Georgia District Court Judge Rules that FIRREA Precludes D&O Insurer Declaratory Judgment Actions Against FDIC as Receiver and...

On March 5, 2014, Judge Richard Story in the United States District Court for the Northern District of Georgia issued an order denying Plaintiff OneBeacon Midwest Insurance Company’s (OneBeacon) Motion for Limited...more

The New York Court of Appeals Considers the Consequences of a Liability Insurer’s Breach of the Duty to Defend

What are the consequences of a liability insurer’s breach of the duty to defend its insured against a potentially covered claim? Recent decisions from the New York Court of Appeals highlight differing views nationwide on...more

The New York Court of Appeals Vacates its Decision and Rejects “Coverage by Estoppel”

The New York Court of Appeals rarely hears reargument of its decisions, let alone reverses itself. On February 18, 2014, the Court of Appeals did just that....more

Insurance Recovery Law - Feb 26, 2014

Fourth Circuit Allows Punitive Damages Against Insurer For Bad Faith Despite Lack Of Actual Damages - Why it matters: A policyholder is not required to prove ascertainable damages to be entitled to an award of...more

In K2 Investment, NY high court reverses itself, confirms well-established case law

The New York Court of Appeals, in K2 Investment Group, LLC v. American Guarantee & Liability Insurance Company, 2014 WL 590662 (N.Y.), 2014 N.Y. Slip Op. 01102 (N.Y. Feb. 18, 2014), has vacated its own prior decision,...more

Utica And Century Ordered To Mandatory Mediation In Reinsurance Dispute

Utica Mutual Insurance Company brought an action in 2013 against Century Indemnity Company (itself and against certain of its named predecessors) for breach of contract and breach of the duty of utmost good faith, as well as...more

Eleventh Circuit Rules Lenders Can Demand Flood Insurance Coverage That Exceeds Loan Balance

Agreeing with the First Circuit’s recent en banc ruling in Kolbe v. BAC Home Loans Servicing LP, — F.3d —, 2013 WL 5394192 (1st Cir. Sept. 27, 2013), the United States Court of Appeals for the Eleventh Circuit ruled that the...more

New York High Court Reverses Course; Allows Carriers to Rely on Policy Exclusions Where Duty to Defend was Breached

K2 Investment Group, LLC. v. American Guarantee & Liability Ins. Co., No. 6, 2014 N.Y. LEXIS 201 (N.Y. Ct. of App. Feb. 18, 2014). In 2013, the New York Court of Appeals affirmed an order granting summary judgment to a...more

New York’s Highest Court Vacates Its Decision in K2

In its February 18, 2014 decision in K2 Investment Group, LLP v. American Guarantee & Liability Ins. Co., New York’s Court of Appeals – New York’s highest court – had occasion to revisit its prior ruling concerning the effect...more

Dusting Off Arizona’s Unfair Claims Settlement Practices Act & Regulation: Specific Standards for Good Faith Claims Handling

The test for first-party bad faith in Arizona case law is whether, during the “investigation, evaluation, and processing of the claim, the insurer acted unreasonably and either knew or was conscious of the fact that its...more

Illinois Supreme Court to Decide Whether Insurance Agents Owe a Duty of Care

Our previews of the civil cases which the Illinois Supreme Court agreed to review in the closing days of the January term continue with Skaperdas v. Country Casualty Insurance Company, a decision from the Fourth District....more

Bad Faith Sentinel - February 2014

In This Issue: - Indiana Bad Faith Ruling is Reminder that Resolution of Breach of Contract Claims in Favor of Insurer Does Not Necessarily Require Disposal of Tort-Based Bad Faith Claims - Fifth Circuit Court...more

Update on non-disclosure – Prepaid v Atradius (No.2)

Readers may recall our previous entries in July 2012 and August 2013 concerning the decisions of Prepaid Services Pty Ltd v Atradius Credit Insurance NV [2012] NSWSC 608 and Prepaid Services Pty Ltd & Ors v Atradius Credit...more

A Good Faith Review of 2013

With the arrival of the new year, many are applying the mantra “out with the old, in with the new.” Although this may be motivational for personal resolutions, it does not generally apply in the context of law as last year’s...more

Washington Insurance Law - 2013 Year in Review

2013 was a particularly eventful year in Washington insurance law. This paper summarizes the holdings of several notable Washington insurance decisions that were filed in 2013. Bad Faith - Attorney-Client...more

A technical variance in a "998 offer" can preclude an award of costs

In Rouland v. Pacific Specialty Insurance Co. the California Court of Appeal for the Fourth Appellate District decided an interesting case under California’s cost shifting provision, Code of Civil Procedure Section 998....more

Practical Tips For Avoiding Securities Litigation, Understanding D&O Insurance, And Selecting Defense Counsel

In my last post of 2013, I thought I’d share some thoughts about how public companies can better protect themselves against securities claims – practical steps companies can take to help them avoid suits, mitigate the risk if...more

PNC Bank and Freddie Mac Reach Settlement Agreement

On December 6, PNC Bank announced an agreement in principle to an $89 million dollar settlement agreement with Freddie Mac resolving outstanding and potential repurchase claims arising out of the sale of some 900,000 loans to...more

New Jersey Court of Appeals: Discovery Related to Bad Faith Claims Should Be Stayed Pending Resolution of Insurance Claims for...

On November 21, 2013, in Procopio v. Government Employees Insurance Company, a/k/a and d/b/a GEICO, Docket No. A23-1-12T2, an intermediate New Jersey appeals court held that in a pending uninsured motorist (UM) or...more

Genuine Dispute Doctrine Precludes Bad Faith Claim Reaffirmed by District Court

Barger & Wolen LLP Secures Summary Judgment On Behalf of Client - District Court Reaffirms “Genuine Dispute Doctrine,” Precludes Bad Faith Claim: LOS ANGELES –On November 29, 2013, United States District Court...more

Federal PA Court Permits “Bad Faith Set-Up” as a Defense to Insured’s Bad Faith Claim

A Pennsylvania federal court recently allowed an insurer to plead “bad faith set-up” as a defense to, or “avoidance” of, a bad faith cause of action. The plaintiffs in Shannon v. New York Central Mutual Insurance Company who...more

Reinsurance Alert: Equitas Ltd And Another V Walsham Brothers & Co Ltd

In Equitas v. Walsham Bros, the Commercial Court ruled on a number of key legal issues concerning the duties owed by Lloyd's brokers to remit funds promptly to clients and to reinsurers. BACKGROUND - Equitas is...more

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