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Plaintiffs Survive Standing-Based Challenge to California Senior Notice and Financial Elder Abuse Claims

by Carlton Fields on

In California, actions predicated on alleged senior notice requirement violations and financial elder abuse continue to challenge life insurers. For example, in June, a California federal district court denied the insurer’s...more

Pennsylvania Court Holds Fiduciary Duty Exists Only Where Consumer Cedes Decision-Making Control to the Fiduciary

by Carlton Fields on

The Pennsylvania Supreme Court recently held in Yenchi v. Ameriprise Financial, Inc. that a financial adviser owed no fiduciary duty to a couple who purchased a life insurance policy based on the adviser’s advice where they...more

Certified Financial Planner Board Proposes Fiduciary Obligations for All CFP Financial Advice

by Carlton Fields on

In June, the Certified Financial Planner (CFP) Board released proposed revisions to its standards of professional conduct that would require CFPs to adhere to a fiduciary standard at all times when providing any "financial...more

Steps and Resources to Recover Homeowner Insurance Benefits After a Fire: A Tip-Sheet for Homeowner / Small Business Insurance...

by Farella Braun + Martel LLP on

Before worrying about an insurance claim, first ensure that you and your family, including pets and extended family, have their immediate needs met, particularly medical needs. When you are ready to begin the recovery...more

The DOL Fiduciary Rule: Charting a Course, Avoiding Collisions & Potential Litigation Q&A #2 - Q&As on Annuity Sales Practices,...

by Carlton Fields on

Last month, we wrote about potential litigation issues under the “revised temporary” DOL Rule involving the offer and sale of annuities in the IRA market. This paper continues that discussion. I emphasize to the reader that...more

Reed Smith 2017 California Wildfires Relief Resources Guide

by Reed Smith on

Though the wildfires continue to burn across California, insurance industry insiders have estimated that the reconstruction cost value for homes potentially at risk in the Napa and Santa Rosa areas alone will be more than $65...more

The Fiduciary Rule Status Update

by Carlton Fields on

On April 8, the Department of Labor published the so-called "Fiduciary Rule." It defines who is an employee benefit plan’s "fiduciary" for purposes of the Employee Retirement Income Security Act (ERISA) and the Internal...more

Structuring Clinical Practices to Prevent Pitfalls – Deeply Rooted Corporate Practice Doctrine Remains Strong

by BakerHostetler on

With growing patient demands, advanced technology and payer restraints, healthcare providers are increasingly exploring management agreements with experienced companies to handle the daily operations of their clinical...more

New Notice Requirement for Insurers under Florida’s Viatical Settlement Act

by Locke Lord LLP on

Florida has recently adopted amendments to its Viatical Settlement Act. One of the new provisions, Section 626.99292 Notice to life insurance policyholders, provides: “(1) A life insurer shall provide an individual life...more

Steps to Follow to Protect Your Wildfire Insurance Recovery

by Blank Rome LLP on

Steps to Follow to Protect Your Wildfire Insurance Recovery - Locate copies of your insurance policies or request them from your agent or broker. Consider and carefully review all insurance policies that might apply (such...more

Florida may have outlawed the secondary sale of policies if at any time during the five year period post issuance there was a loan...

by Locke Lord LLP on

Florida has recently adopted amendments to its Viatical Settlement Act. One of the new provisions, Section 626.99287 Contestability of viaticated policies, provides as follows: - (2) Except as hereinafter provided...more

Florida may have outlawed legitimate premium finance lending

by Locke Lord LLP on

Florida has recently adopted amendments to its Viatical Settlement Act. One of the new provisions, Section 626.9911 (9), defines a prohibited stranger-originated life insurance practice as: - (9) “Stranger-originated...more

Data, insurance and GDPR: how firms can meet the challenges

by DLA Piper on

The insurance market is changing rapidly, driven by shifting customer expectations and technological progress. The Internet of Things and connected devices are transforming the industry, for instance with the increasing usage...more

Insurance Coverage – Indemnification Under Excess Policies

by Low, Ball & Lynch on

Montrose Chemical Corporation of California v. Superior Court - Court of Appeal, Second Appellate District (September 8, 2017) - The California Second District Court of Appeals’ recent decision in Montrose Chemical...more

After the Waters Recede: The Mortgage Servicer’s Role in Navigating Insurance Claims, Part II

In the first part of the series “The Mortgage Servicer’s Role in Navigating Insurance Claims,” we covered assessing the damage in the wake of a natural disaster and applying the proceeds when complying with the terms of...more

The ACA Is Alive and Well: Updates to Mandated Preventive Health Care Services Issued for 2018

The Patient Protection and Affordable Care Act of 2010 (ACA) revolutionized the U.S. healthcare system. Among the many major changes the ACA introduced was mandatory first coverage of preventive care services required for...more

With most businesses back after Harvey & Irma, what to know about what comes next: legal restoration

by Hellmuth & Johnson PLLC on

This blog post is the first in a three part series. The next posts will cover Business Interruption Coverage and Reinsurance. Business owners affected by hurricanes Harvey and Irma spent the first few days and weeks...more

News from Second & State

Weekly Wrap - With a national holiday on Monday and no session for either chamber, it was a quiet week in the Capitol. There was no movement on any legislation and very little budget talk. However, there is some news you...more

Nevada Securities Act Amendments – What’s Next?

by Carlton Fields on

Over the summer, much was written about amendments to the Nevada Securities Act provisions governing financial planners, which became effective July 1, after being signed by the Governor on June 2....more

Reed Smith Hurricane Maria Disaster Relief Resources Guide

by Reed Smith on

Industry insured losses for Hurricane Maria are estimated to be between US$40 billion and US $85 billion. Puerto Rico, alone, will account for more than 85% of the loss. Individuals impacted by Hurricane Maria will generally...more

Texas Department of Insurance Warns Against Improper Underwriting After Hurricane Harvey

by Locke Lord LLP on

The Texas Department of Insurance (TDI) has cautioned insurers against improper underwriting activities in the wake of Hurricane Harvey. Specifically, TDI issued Commissioner’s Bulletin # B-0032017 on September 21, 2017,...more

7th Circuit Affirms Plaintiff’s Own Estimates of Class Size Can Satisfy CAFA

In Roppo v. Travelers Commercial Insurance Company, the Seventh Circuit held that even after a motion to remand CAFA removal jurisdiction can be sufficiently established by a defendant’s “good faith estimates” of the amount...more

Contraceptive Coverage Mandate Exemptions Expanded Under Interim Final Rules

by Benesch on

Last week the Department of Treasury, U.S. Department of Labor, Department of Health and Human Services (Departments) published rules exempting employers from the contraceptive coverage mandate created under the Affordable...more

SEC Stays Approval of Quadruple-Leveraged ETF

by Carlton Fields on

On May 25, 2017, the SEC stayed a May 2 order issued by the Division of Trading and Markets, acting for the SEC pursuant to delegated authority, that would have permitted the listing and trading of shares of the first...more

SEC Scrutinizes Multi-Manager Arrangements

by Carlton Fields on

Many mutual funds implement their investment strategies through "multi-manager" (also called "manager of manager") arrangements, particularly funds used to support variable life insurance and annuity products. Among other...more

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