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Insurance Updates

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Corporate Insurance Newsletter – July 2017

by Hogan Lovells on

The Hogan Lovells’ Corporate Insurance Newsletter for July has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. Please see...more

UIM Claims – Still No Bad Faith for Refusal to Settle, But….

by Nexsen Pruet, PLLC on

South Carolina has never recognized a bad faith cause of action based upon the failure of an underinsured (UIM) carrier to settle a UIM claim. Maintaining the established precedent, the United States District Court recently...more

Show Me the Money - Maximizing Monetary Recovery in the Wake of Insurance Fraud

by Rumberger Kirk & Caldwell on

Insurance fraud negatively impacts everyone. It drives up the costs of doing business, along with everyone’s premiums. In fact, according to the National Insurance Crime Bureau, insurance companies saw a 102% increase in this...more

Connecticut Supreme Court Reaffirms Court’s Limited Power To Review Appraisal Awards

The Connecticut Supreme Court recently handed down an important decision reiterating the high bar to overturning arbitration awards while, at the same time, clarifying a portion of the applicable statute providing for...more

Claim Barred by Florida's Construction Defect Statute of Repose? Maybe Not. Florida Court Says You Should Read The Construction...

Claim professionals are often reminded that even the most meritorious claim is worthless if not filed within the applicable statute of limitations or statute of repose. In the world of construction defect claims, Florida law...more

CGL Insurance Coverage for Advertising Injuries: Upping the Ante for IP Litigation

by Jones Day on

August 2017 In Short The Situation: Reversing a pair of federal district court rulings, the Fifth and Ninth Circuits have held that insurers must defend commercial general liability policyholders in advertising injuries...more

Deadline to Comply with New York's Cybersecurity Regulation Is Approaching

by Jones Day on

For entities regulated by the New York Department of Financial Services, the deadline for complying with the new Cybersecurity Requirements for Financial Services Companies, 23 NYCRR Part 500, is Monday, August 28, 2017. To...more

NAIC Takes Major Step Toward Final Approval of Insurance Data Security Model Law

In a flurry of approvals last week, the National Association of Insurance Commissioners (NAIC) took substantial steps toward finalizing its proposed Insurance Data Security Model Law during the 2017 NAIC Summer National...more

Beltway Buzz - August 18, 2017

EEO-1 News . . . Maybe. Rumors are rampant that the White House’s Office of Management and Budget (OMB) may soon take action on the Equal Employment Opportunity Commission’s (EEOC) changes to its EEO-1 form, which will...more

Court Declines To Determine Whether Reinsurance Syndicate For Which A Company Fronted Should Be Involved In An Arbitration

by Carlton Fields on

The parties in this case presented to a court the issue of whether a reinsurance syndicate for which Federal Insurance acted as “a front” was a real party in interest and should be involved in an arbitration between Federal...more

Combating climate change: NYDFS calls on insurance industry to help

by Hogan Lovells on

On 26 July 2017, the New York Department of Financial Services (the “NYDFS”) issued Circular Letter No. 9 (2017) (the “Circular Letter”) and a corresponding press release, directed at all life, property/casualty, and health...more

Legal Malpractice Claims Level Off as Conflicts and Cyber Claims Rise

by Dentons on

Statistics regarding the type, frequency and severity of legal malpractice claims submitted to insurers during 2016 were released at the end of June. From the law firm and attorney perspective, the news is generally good in...more

Recent 11th Circuit Decision Is a Victory for Health Care Providers Challenging Insurer Reimbursement Decisions and a Reminder of...

by K&L Gates LLP on

The existence and scope of assignments of benefits from patients to health care providers continues to be critically important to a provider’s ability to challenge an insurer’s reimbursement decision under the Employee...more

Massachusetts Employers Face $200 Million Increase in Health Care Costs under MassHealth Amendments

On August 1, Massachusetts Governor Charlie Baker signed into law H. 3822, “An Act Further Regulating Employer Contributions to Health Care” (the “Act”). The purpose of the Act is to shore up the finances of the...more

Cyber Claims in Mexico: A Reactionary Evolution of an Insurance Sector

by Zelle LLP on

In the wake of numerous cross-border, well-publicized cyber-attacks, cyber-insurance has quickly become a hot issue. This area has also become a trending topic because of the abrupt and quick need for response in a generally...more

Statutory Duties to consider in Underwriting (including some that deal with animals)

by Pessin Katz Law, P.A. on

Keep in mind that statutes or ordinances can be a source of a duty of care towards members of a specific class. See, e.g., Kiriakos v. Phillips, 448 Md. at 495, 139 A.3d 1006 (concluding that a social host owes a duty to...more

[Event] The LatAm Gateway Summit - October 11th, Miami, Fl

by Zelle LLP on

The LatAm Gateway Summit will focus on Latin American insurance and reinsurance issues. The economic climate, claims, underwriting, and opportunities unique to Latin America will be explored. Insurers, reinsurers, risk...more

DOL Fiduciary Rule Status Update for Fraternal Benefit Societies

by Stinson Leonard Street on

In papers filed as part of a lawsuit in the U.S. District Court for the District of Minnesota, the Department of Labor (DOL) has stated that they are considering a further delay of the effective date for full implementation...more

Travelers Fails to Pull a Rabbit out of its Hat and Must Defend its Insured

by Nossaman LLP on

In a recent federal court decision out of Colorado, Travelers failed to convince the Court that it had no duty to defend its insured based on its IP exclusion (barring coverage for patent infringement claims). Travelers’...more

Real Property & Title Insurance Update: Week Ending August 11, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Short Sale/Statute of Limitations: Florida Statute section 95.11(5)(h)’s one year statute of limitations period does not apply to bar Bank’s cause of action for deficiency judgment...more

Middle District of Pennsylvania: No Bad Faith Where Plaintiff’s Failure to Perform Contractual Duties Was the Reason for Delay

by Saul Ewing LLP on

On December 24, 2013, a fire destroyed Plaintiffs’ home. Plaintiffs’ homeowners’ policy, issued by State Farm, required insureds to submit personal property inventories within sixty days after a loss. Three days after the...more

Interim Study Committees Set to Meet This Week

by Faegre Baker Daniels on

In the May 25 meeting of the Indiana Legislative Council, council leadership and members assigned topics to study in interim study committees. Those committees are set to start meeting this week. The committee meetings on the...more

First Look - Summer 2017: Issues and Developments in Insurance Law

by Steptoe & Johnson PLLC on

The first step in any coverage analysis is determining who is an insured. Sounds easy, right? Not necessarily. As commentators have noted, “[t]here is a distinction between a ‘named insured’ and an ‘insured.’” Indeed, another...more

New Guidance on Coverage for Eating Disorders

by Tucker Arensberg, P.C. on

The Departments of Labor, Treasury, and Health and Human Services recently released a frequently asked question (“FAQ”) regarding the implementation of the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction...more

The ABC's of ACV in Subrogation Claims

Oftentimes, during the course of a subrogation claim, third-party liability adjusters will refuse to pay the full amount of the “Repair Cost Value” (“RCV”) of the damages demanded, and contend that they only owe “Actual Cash...more

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