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General Business Insurance

Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.

Beware of Prior Act Exclusions and Retroactive Dates When Procuring or Renewing Coverage

An 11th Circuit decision issued earlier this year serves as a reminder of the importance of carefully evaluating time-based exclusions and retroactive dates when procuring or renewing coverage. Liability policies such as...more

The Preemption Defense to Flood Insurance Claims Under the National Flood Insurance Program

by Wilson Elser on

According to Lloyd’s of London, which helped to reinsure the National Flood Insurance Program (NFIP) for more than $1 billion seven months before Hurricane Harvey, the storms in Texas and Florida may result in damage...more

Cyberattacks Are the New Norm - How to respond and get insurance recovery for government investigations.

Takeaways - Companies that suffer cyberattacks can expect not sympathy but scrutiny from legal authorities. - D&O insurance can cover not only litigation but also investigation costs. - Strategic negotiation of...more

The Rule of Sevens: Evaluating Claims Involving a Child

As subrogation professionals, we may be tasked with evaluating property loss claims where a child caused or contributed to the property damage. For example, is a child playing with matches or a lighter liable for a fire...more

New York DFS Tightens Cybersecurity Gaps

by Carlton Fields on

Equifax takes no deposits and makes no loans, but New York now says that it, as well as all other consumer reporting agencies, must protect consumer data to the same degree as banks and other financial institutions. On...more

Washington Bad Faith Law At A Glance

by Sedgwick LLP on

In all insurance matters, all persons owe a duty of good faith, to abstain from deception, to practice honesty and equity, and to preserve inviolate the integrity of insurance. RCW 48.01.030; Appendix A. A cause of action...more

Ruling Elevates Conflicts Considerations in Insurance/Tripartite Relationship Cases - After Washington Supreme Court Decision,...

by Holland & Knight LLP on

• Relationships between insurer, insured and insurer-appointed defense counsel – also known as the "tripartite relationship" – have long been recognized as a potential source of conflicts of interest. By a 5-4 majority in...more

Lender-Affiliated Captive Reinsurer Obtains Dismissal Of Mortgage Insurance Lawsuit Brought By Illinois Director Of Insurance

by Carlton Fields on

The suit arose out of an arrangement where lenders would refer borrowers to (now-defunct) Triad Guaranty Insurance Company (Triad) to obtain private mortgage insurance. The lender-affiliated captive insurance company would...more

More “Additional Insured” heartache

by Butler Snow LLP on

We’ve chronicled some of the ways in which an “Additional Insured” can be disappointed. The most recent is from Pennsylvania, where the United States District Court Judge agreed with the Magistrate that the Additional...more

Real Property & Title Insurance Update: Weeks Ending September 8 & 15, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Summary judgment: trial court erred by denying borrower’s motion to amend answer and defenses, and therefore erred in entering summary judgment in favor of lender. Reyes v BAC Home Loans Servicing...more

Blunt Talk about Cannabis and Insurance

by Pessin Katz Law, P.A. on

I have been in a haze recently due to marijuana. Granted, I do not smoke, toke, or even eat pot laden brownies—I truly never have. But each insurance conference I go to and each insurance journal I read, I find articles...more

Beware: Claims Investigations May Not Be Protected From Disclosure In Maryland

by Pessin Katz Law, P.A. on

Insurance companies and lawyers defending insurance companies oftentimes try to shield claims investigations from disclosure during discovery. Oftentimes, the claimed basis for non-disclosure is the work-product privilege. In...more

Seventh Circuit Affirms Dismissal Of Post-Liquidation Reinsurance Claim As Time-Barred

by Carlton Fields on

We previously posted on the trial court’s ruling addressing the statute of limitations in this case on June 23, 2016. By way of background, the underlying contract between the insurer and the reinsurer required the insurer to...more

Despite No Allegations of Bad Faith or Tortious Conduct, Liberty Mutual Owes Millions for Breaching the Duty to Defend

by Carlton Fields on

In Hyland v. Liberty Mutual Fire Ins. Co., No. 1:15-cv-01264-JES-JEH, 2017 WL 3388161 (C.D. Ill. Aug. 7, 2017), the U.S. District Court for the Central District of Illinois granted plaintiff’s motion for summary judgment for...more

Africa Focus: Sub-Saharan African power projects - Credit support and enhancement

by White & Case LLP on

Counterparty credit risk continues to remain a key, often threshold concern for private sector sponsors and lenders to the majority of power projects in sub-Saharan Africa. Structuring power projects in an effort to overcome...more

Equifax Data Suppliers Urged by DFS to Give Hack “Highest Degree of Attention”

Yesterday, New York’s top financial regulator asked state-chartered banks and insurers to take immediate precautions to protect consumers and the financial markets “in light of the cybersecurity attack” at Equifax Inc....more

Directors’ liability D&O: Entering uncharted territory

by Allen & Overy LLP on

Welcome to this the fifth edition in our series of surveys on directors’ liabilities, brought to you by the international law firm Allen & Overy LLP and the global advisory broking and solutions company Willis Towers Watson....more

First Circuit Upholds Arbitrator’s Denial Of Arbitrability Of Reinsurance Agreement, Finding No Manifest Disregard Of The Law

by Carlton Fields on

Mountain Valley Property, Inc (MVP) entered into a three-year reinsurance participation agreement with Applied Underwriters Captive Risk Assurance Co. Inc. (AUCRA), which contained a mandatory arbitration clause as well as a...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

So much for the quiet off-ramping for SoFi’s Mike Cagney. The fintech company’s board announced on Friday that Cagney is out immediately as CEO, not at the end of the year as Cagney had announced earlier in the week....more

Eleventh Circuit Reinstates Auto Body Shops’ Antitrust Claims Against Insurers

In a 2-1 decision issued on September 7, 2017, the Eleventh Circuit reversed a district court decision dismissing antirust claims brought by auto body shops against a group of car insurance companies in the In re Auto Body...more

Understanding Business Interruption Insurance and Wide-Impact Catastrophes

In the wake of Hurricanes Harvey and Irma, policyholders can expect insurers to put forward strong objections to some of the most consequential claims asserted by insureds. - Takeaways - In construing policy language...more

Assignment of Benefits Legislation in Florida

by Carlton Fields on

The practice known as the Assignment of Benefits (AOB) is a big problem for Florida property insurers. AOBs have been driving up the cost of property insurance claims in the state for several years....more

Builder's Risk Insurance: Resurrecting the Project After the Storm - Best Practices for Securing Coverage for Project and Claim...

by Holland & Knight LLP on

• Catastrophic storms such as Hurricane Harvey and Hurricane Irma invariably cause property damage, schedule delays and other "soft costs" when they hit during a project's construction. • Owners and contractors engaged in...more

Rebuilding After Hurricanes Harvey and Irma: Recovery Through Tax Deductions

by Bowditch & Dewey on

It is estimated that less than 20% of those affected by Hurricane Harvey, and a week later Hurricane Irma, had flood insurance. Home owner’s and renter’s insurance policies exclude damage caused by floods. Those affected...more

Fourth Circuit Reverses Ruling That Reinsurance Agreement Is An “Insurance Contract” Under Virginia Law

by Carlton Fields on

Applying the doctrine of judicial estoppel, a district court refused to compel arbitration finding that the arbitration clause in a reinsurance agreement was unenforceable under a Virginia statute that voided a mandatory...more

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