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$2.9 Million Jury Award For Texas Fracking Claim: Lessons for Energy Company Risk Managers

A jury in Dallas recently awarded $2.9 million to a Texas family in one of the first trials involving allegations that hydraulic fracturing caused nearby residents to suffer health problems and property damage. Although...more

From Second and State: The Week Ahead – June 23-27, 2014

We’ve turned the corner of the final 10 days before the June 30 budget deadline, so you can expect us to be full throttle between now and then – then meaning whenever the budget is completed. This week, it became clear in...more

Insurer Sues Municipalities Over Claims Stemming from Climate Change

Farmers Insurance has filed a series of class action lawsuits against several Chicago area municipalities for allegedly failing to address climate change in their storm water runoff plan. Farmers claims that this led to...more

Lights Out for Policyholders Seeking Business Interruption Coverage Due to Loss of Electricity

Super Storm Sandy caused widespread power outages throughout the New York metropolitan area in late October 2012, rendering it impossible for many companies and firms to conduct business. In Newman Myers Kreines Gross...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

Negligent Operation Of A Storm Sewer: A New Theory Of Climate Change Liability

We have written many times about the flawed design of the nation's flood maps in an era of climate change. And spoken about the potential for claims against professionals for failure to consider the effects of climate change...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

North Carolina Legislative Report - March 14, 2014

The General Assembly has officially completed its business for the 2013 long session. The 2014 short session will begin on Wednesday, May 14, 2014. The MVA Public Affairs Legislative Report on North Carolina will be...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

Fourth Circuit Holds that Contingent Business Interruption Endorsement Does Not Extend to Indirect Suppliers

On February 20, 2014, the United States Court of Appeals for the Fourth Circuit held that a contingent business interruption endorsement did not extend coverage to claims arising out of a business interruption caused by an...more

Oil Spill Derailments Pose Challenge For Insurers

In the past year alone, five fiery oil train derailments have made front-page news by causing both catastrophic bodily injury and property damage in rural towns across Canada and the United States, including the 74-car...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

EU partially suspends Iran sanctions under nuclear deal

I. Introduction - On 20 January 2014, the Council of the European Union (EU) agreed to temporarily suspend certain sanctions against Iran, namely those relating to (re)insurance and transport services for Iranian crude...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

Hydraulic Fracturing Digest

Hydraulic fracturing remained one of the most controversial environmental issues of 2013. Hydraulic fracturing, also known as fracking, is the process of injecting water, chemicals and “proppants,” oftentimes sand, under...more

Legislative Update Report No. 2013-21 -- Nov 12, 2013

In This Article: Federal Government; Alberta; British Columbia; Manitoba; New Brunswick; Newfoundland; Northwest Territories; Nova Scotia; Nunavut; Ontario; Prince Edward Island; Québec/Quebec; Saskatchewan; and Yukon....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

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