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Insurance Updates

Read Insurance Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

Damages for Late Payment of Insurance Claims - Good News For Policyholders

by K&L Gates LLP on

From 4 May 2017 it became possible for policyholders to recover damages from insurers who have not paid valid claims within a ‘reasonable period of time’. The change has been brought about by section 28 of the Enterprise...more

The State AG Report Weekly Update

by Cozen O'Connor on

Breaking News- Arkansas Attorney General Is New Chairman of Republican Attorneys General Association- Earlier today, the Republican Attorneys General Association (“RAGA”) named Arkansas AG Leslie Rutledge as its new...more

The Latest Alleged Wells Fargo Scandal – Imposing Unnecessary Auto Insurance on 800,000 Unsuspecting Customers

by Sedgwick LLP on

On July 30, 2017, Wells Fargo & Co. customers filed a putative class action lawsuit alleging the bank forced them to pay for unnecessary auto insurance, which resulted in some members of the purported class having their...more

Insurance Coverage – Has a “Collapse” occurred?

by Low, Ball & Lynch on

Tustin Field Gas & Food, Inc. v. Mid-Century Insurance Co. - Court of Appeal, Second Appellate District (July 3, 2017) - Tustin Field Gas & Food, Inc. v. Mid-Century Insurance Co. (“Tustin”), was an insurance coverage...more

Insurance Agents as Employees? Court Breaks Independent Contractor Precedent

On August 1, 2017, the US District Court for the Northern District of Ohio held that insurance agents working under independent contractor agreements with an insurer were employees for purposes of pursuing pension and other...more

To Fee Or Not To Fee, That Is The Question: The Florida Supreme Court Finds Coverage For Proposal For Settlement Sanctions In...

To understand the implications of Macedo II, it is important to understand what brought us here. It’s a long and bumpy road, but understanding what brought us here will be critical in order to understanding how to go...more

Connecticut Insurance Department Issues Bulletin on Data Security Requirements

We previously outlined the requirements of the Connecticut data breach law when it was amended in 2015, including the requirement to implement a comprehensive information security program (CISP)....more

Georgia Revamps Law Governing Captive Insurance Companies

by Carlton Fields on

Significant changes to Georgia law governing captive insurance companies took effect on July 1, 2017. The changes relate to the permitted corporate structure of captive insurance companies, new restrictions on risks that may...more

Policy inception: timing is everything

by DLA Piper on

It is common for contracts of insurance to have an inception date but not an inception time. The question then arises as to the time at which the policy incepts. The issue was considered recently by the High Court in...more

A Guide to NYDFS Cybersecurity Regulations’ August 28 Implementation Deadline

by Hogan Lovells on

As a follow-up to our previous reports (December 30, 2016 Alert; February 24, 2017 Alert) regarding the cybersecurity regulations issued by the New York State Department of Financial Services (NYDFS), we would like to remind...more

Is Negligence Enough for Bad Faith? The Eleventh Circuit Rejects an Invitation to Let the Georgia Supreme Court Decide

by Saul Ewing LLP on

In a two-paragraph opinion following oral argument, the Eleventh Circuit Court of Appeals affirmed a District Court’s judgment that Nationwide was liable for either negligent or bad faith failure to settle a claim. The trial...more

D&O Insurance Tips: Purchasing and Maximizing Coverage

by GB&A Insurance on

Aside from insurance executives themselves, insurance is not a topic that raises excitement among directors and officers. In fact it may feel more like necessary torture. Applications with The same never-ending questions,...more

Tiny, But Mighty: How Portfolios of Small Claims Present Claim Handling Challenges in Latin America

by Zelle LLP on

While complex, commercial claims are highlighted in many claim handling discussions, small value, large volume claims also present challenges that play an important role in establishing efficiency and infrastructure. Small...more

Holy Harleysville! – The Rules Governing RORs, Intervention, and More in South Carolina Have Just Changed

For insurers, litigating third-party coverage disputes in South Carolina has always proved formidable. Insurers can be liable for “bad faith” even if there is no coverage; they may be required to pay an insured’s attorney’s...more

Cyber Insurance Primer

by Butler Snow LLP on

The number of reported U.S. data breaches tracked through June 30, 2017 hit a half-year record high of 791. This represents a significant jump of 29% over 2016 figures during the same time period. At this pace, it is...more

Court Finds That Reinsurance Transaction Did Not Breach Investment Contract Underlying An ERISA Plan

by Carlton Fields on

MetLife acquired the rights to a fixed investment option contract with Midco, a trust established to administer a retirement plan for the employees of Midco International, Inc. Midco plan participants received interest each...more

Turning Over Another Rock: Another Example of Discovery Disputes in the Reinsurance Context

by Locke Lord LLP on

Following up on our recent article, Between a Rock and a Hard Place: Insurers face hidden risks when defending claims and protecting confidential reinsurance information at the same time, published in the August 2017 issue of...more

ACA Reform – What Comes Next?

by Holland & Knight LLP on

The chances that Congress will continue trying to repeal or replace the Affordable Care Act (ACA) have significantly reduced, as the Senate is determined to instead proceed with a tax cut or tax reform....more

Disparagement Allegations May Trigger Valuable Coverage

A recent case we handled highlights the importance of reading a complaint’s allegations very carefully. Competitors in high-stakes litigation may file complaints and cross-complaints against each other alleging a variety of...more

A “palliative” approach to insolvency in the retail world?

by Morrison & Foerster LLP on

The retail sector is in the midst of a deeply disruptive shift as online shopping increasingly puts its long-term future in peril. Howard Morris, head of the business restructuring and insolvency group at Morrison & Foerster...more

Harleysville Revisited - What We Know Now

by Nexsen Pruet, PLLC on

In January, the SC Supreme Court issued its original opinion in Harleysville Group Insurance, a Pennsylvania Corporation v. Heritage Communities, Inc, a South Carolina Corporation; Heritage Magnolia North, Inc., et al. and...more

Real Property & Title Insurance Update: Week Ending July 28 & August 4, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Redemption: foreclosure sale conducted without knowledge of bankruptcy affirmed, but trial court orders denying mortgagor opportunity to redeem property before certificate of sale...more

Securitisation in Poland: Legal and tax aspects

by Hogan Lovells on

Securitisation transactions have been receiving increased attention as attractive alternatives for Polish companies, especially those who can derive large pools of receivables from the debtors which are consumers or...more

New Connecticut Insurance Department Bulletin on Data Security Requirements

by Polsinelli on

Connecticut Bulletin MC-23. The Connecticut Insurance Department issued Bulletin MC-23 on June 13, 2017. The Bulletin addresses certification and notice requirements for data security requirements applicable to TPAs and PBMs...more

Failure To Hold Back Settlement Funds Subject To A Medical Lien Can Expose An Insurer To Treble Damages

by Ellis & Winters LLP on

A court’s decision to impose liability for committing an unfair or deceptive trade practice in a particular case may have wide-ranging implications—even when the amount in dispute in the matter itself is relatively...more

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