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Health and Human Services, Labor and Treasury Departments Release New Summary of Benefits and Coverage Templates and Accompanying...

The Departments of Health and Human Services (“HHS”), Labor (“DOL”), and Treasury (the “Departments”) have jointly released final changes to the Summary of Benefits and Coverage (“SBC”) template, the Uniform Glossary, and...more

TPA Agreement Filing and Compliance Requirements

The NAIC Model Third Party Administrator Act and almost every state that has enacted laws regulating TPAs require such agreements to comply with the following...more

IAIS Secretary General Considers Path to International Cybersecurity Standard

Last week, the National Association of Insurance Commissioners (NAIC) hosted the 2016 NAIC International Insurance Forum. The Forum addressed topics such as the management of catastrophic disaster risks, industry perspectives...more

UK Financial Regulatory Developments - May 2016 #15

ESAs publish ECAI opinion - The European Supervisory Authorities (ESAs – EBA, ESMA and EIOPA) have published their opinion on the Commission’s intention to amend the draft Implementing Technical Standards (ITS) on the...more

Steps to effectively cancel an insurance policy

The North Carolina Court of Appeals recently released an unpublished opinion further illuminating how insurers can effectively cancel worker's compensation policies. However, nothing in the case limits its application solely...more

Top 5 Legal Mistakes Business Clients Make

Starting a business can be fraught with potential legal issues that are often overlooked by first-time entrepreneurs. Many details that don’t seem pressing at the start can mean the difference between success and failure...more

Real Property & Title Insurance Update: Weeks Ending May 13 & May 20, 2016

REAL PROPERTY UPDATE - Contracts/Personal Liability: official title of “President” underneath signor’s signature on contract did not shield individual from personal liability because contract language reflected...more

Reinsurer “Access to Records” and “Common Interest” – Permitting Access and Preserving Privilege

An integral part of the relationship between the reinsurer and cedant is that the reinsurer be permitted access to the ceding company’s books and records. A cedant, however, may face the dilemma of risking waiver of privilege...more

Reinsurance (E) Task Force Of The NAIC Meets In New Orleans

The minutes of the April 4, 2016 task force meeting included the following seven items of activity: - Adopted its Jan. 6, 2016 and Dec. 9, 2015 minutes (which were attached), which reflected the adoption of revisions to...more

A Handy Tip for Avoiding Coverage Denial Based on Policy Exclusion In Renewal Policy: Confirm That Insurer Complied With...

The recent decision in Cincinnati Insurance Co. v. Chapman, 2016 IL App (1st) 150919, illustrates how non-compliance with an insurance renewal statute potentially could bar an insurer from denying coverage. At issue in...more

Case Reminds Insurance Agents to Review Process of Receiving Approval from Insureds Before Submitting Applications to Carriers

Schmidt v. Indiana Insurance Co., No. 22S01-1507-PL-412, Supreme Court of Indiana, December 2, 2015 - Plaintiff was the owner of a house in which he allowed his cousin to live from 2007 to 2009. When the cousin moved...more

Blog: Commercial Court Considers Extension Of Time To Challenge Arbitral Award

In S v (1) A (2) B [2016] EWHC 846 (Comm), Mr Justice Eder refused to grant an extension of time under the Arbitration Act 1996 (the “Act”) s.80(5) to challenge an arbitral award, following the applicant’s 74-day delay in...more

The Duty to Follow-up: How A $25,000 Offer To Settle Turns Into A $7 Million Loss

In many states, an insurer not only has a duty to timely communicate with its insured and respond to demands for settlement by a claimant asserting a claim regarding the adjustment of a loss, that duty may also include the...more

Defence & Indemnity - April 2016: V. SURETY AND BOND ISSUES

Liability of surety in Quebec under a labour and material payment bond consistent with common law principles L’Unique Assurances Générales inc., Appelante, c Échafauds Plus (Laval) inc., Intimée, 2015 QCCA 1725 [4174]...more

IRS Offers Tax Guidance Relating to Money Market Fund Rules

The IRS recently provided relief from the RIC distribution requirement for money market funds that receive contributions in connection with the transition to a floating NAV, enabling RICs to top up their NAVs without having...more

What Constitutes an Unequivocal Denial of Coverage? New Jersey District Court Provides Some Guidance

Like most jurisdictions, New Jersey allows parties to an insurance contract to shorten the six-year statute of limitations for contract actions. See N.J.S.A. 2A:14-1 (“Every action at law . . . for recovery upon a...more

Second Circuit Holds Manufacture and Sale of Counterfeit Goods Not an Advertising Injury

In its recent decision in United States Fidelity & Guarantee Co. v. Fendi Adele S.R.L., 2016 U.S. App. LEXIS 8973 (2d Cir. May 17, 2016), the United States Court of Appeals for the Second Circuit, applying New York law, had...more

Court Denies Reconsideration Of Ruling That Reinsurer Must Post Pre-Pleading Security

On April 13, 2016, we reported on Select Insurance Company’s successful motion for pre-pleading security against Excalibur Reinsurance Corp., pursuant to Connecticut law. Excalibur filed a motion for reconsideration, which...more

Think you’re covered? Think again

Commercial General Liability policies (CGL) typically do not include data protection loss coverage, although some insurers offer additional data protection endorsements. Normally those additional endorsements only cover data...more

ERISA: Reviewing What Needs to Be Proved to Establish the Suicide Exclusion

For many reasons, some of the toughest cases to litigate involve the application of the suicide exclusion. There is a growing body of evidence challenging suicide exclusion determinations....more

Most Frequently Hacked Industries Now Includes Manufacturing

Second only to health care, the manufacturing industry is now one of the most frequently hacked industries (according to IBM’s 2016 Cyber Security Intelligence Index). And more importantly, automotive manufacturing was the...more

Colorado Takes A Stand Against Unauthorized Settlements

The “notice-prejudice” rule gives a pass to policyholders who breach the notice or cooperation provisions of their policies, if the breach is found not to have prejudiced the insurer. Sometimes, the late notice does not...more

Ground-breaking referral: Are arbitration clauses in BITs between EU Member States void?

In recent years, the number and economic relevance of bilateral investment treaties (“BITs”) has significantly increased. BITs are international treaties which provide for assurances in favour of investors from the...more

Vanishing premiums part deux?

Those of you with gray hair like me may recall the life insurance vanishing premium lawsuits from the mid-1990s. As a refresher, that flood of lawsuits arose from life insurance policies sold in the 80s (mainly whole or...more

Outsourced claims handling services attract VAT

The CJEU has confirmed in the Polish referred case of Minister Finansów v Aspiro SA1 that a third party acting on behalf of an insurer in the handling and settlement of claims cannot benefit from the exemption for insurance...more

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