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Holland & Knight's Inaugural Israel Practice Newsletter - July 2017

by Holland & Knight LLP on

...We invite you to read our inaugural Israel Practice newsletter, in which our authors discuss pertinent American-Israeli topics. As Israel has been a crossroads and a prolific source of new ideas for more than 3,000 years,...more

Keep Viking Pump in Your Long-Tail Claim Toolbox

“Long-tail” claims involve personal injury or property damage from alleged exposure to injury-causing products, such as asbestos or PFCs, over a number of years and multiple policy periods. Courts in various jurisdictions use...more

Insurance Bad Faith – Genuine Dispute Doctrine

by Low, Ball & Lynch on

Carmen Zubillaga v. Allstate Indemnity Company - Court of Appeal, Fourth Appellate District (June 19, 2017) - The “genuine dispute doctrine” provides an insurer a defense against a bad faith claim when there is a...more

CHOICE Act 2.0 Passes the House: What Is the ‘CHOICE’?

by Shearman & Sterling LLP on

On June 8, 2017, the House of Representatives passed an amended version of H.R. 10, the Financial CHOICE Act of 2017, or CHOICE Act 2.0, which scales back or eliminates many of the post-crisis financial reforms that were...more

Defence & Indemnity - June 2017 : Insurance I. INSURANCE ISSUES D. Insurance Corp. of British Columbia v. Lloyds Underwriters,...

by Field Law on

The “lessee” or “renter” of a leased or rented vehicle for the purposes of auto insurance priority legislation is determined on the basis of who the lease/rental company can look to for payment. Insurance Corp. of British...more

Policyholders (and the Courts) Continue to Ignore Section 1123 When Analyzing Insured v. Insured Exclusions

by Blank Rome LLP on

Last month the United States Court of Appeals for the Sixth Circuit issued its anticipated decision in Indian Harbor Insurance v. Zucker, affirming a 2016 decision from a federal district court in Michigan that an Insured v....more

Life with Conflict of Interest Starting to be Implemented and Retirement Plan Update

by Winstead PC on

Fee Changes and Disclosures Post Conflict of Interest Regulations Initial Partial Effective Date - The effects of the U.S. Department of Labor’s (“DoL”) conflict of interest or fiduciary regulation and related prohibited...more

A New Hurdle for Medical Malpractice Claimants: Legislation Establishing Medical Review Panels Takes Effect in Kentucky

by Reminger Co., LPA on

In a step toward tort reform, on June 29, 2017, Senate Bill 4 was signed into law and went into effect in Kentucky as KRS 216C.005 et seq., establishing a requirement that all potential medical malpractice lawsuits first be...more

What To Look For In Strong Computer Fraud & Social Engineering Insurance

by GB&A Insurance on

Cyber security has been the talk of the town for quite a while now. Organizations today flooded with statistics and mentions of the importance of proper security measures and cyber liability programs. Some companies...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

A Tuesday Times op-ed accuses Wall Street of “fleec[ing]” American pension plan, mutual fund, and insurance policy investors by routing orders to particular exchanges in return for “rebates”—fractions of cents for each trade...more

Renewal Notices Must Warn of Major Changes in Coverage

by Nossaman LLP on

California Insurance Code §678 provides as to personal lines policies (such as homeowners, auto or personal liability): “(a) At least 45 days prior to policy expiration, an insurer shall deliver to the named insured…(1) an...more

Dechert's Global Private Equity Newsletter - Summer 2017 Edition: D&O Insurance Coverage - How Careful Should the Drafting Be?...

by Dechert LLP on

Directors are required to review and approve transformative M&A transactions. The power to approve, however, comes with the potential liability that could be asserted if the transactions do not turn out as projected....more

Senate Unveils Changes to the Better Care Reconciliation Act of 2017: Significant Changes, but Uncertainty Remains

by Foley & Lardner LLP on

On July 13th, the Senate released the updated version of the Better Care Reconciliation Act (BCRA) of 2017. While the new version makes some significant changes to the original Senate proposal, the major components of the...more

Subrogation Following a Hurricane is All Hands on Deck

Hurricane season began June 1st, and runs through November 30th. However, we are about 30 days from approaching the peak of hurricane season, when the season becomes its most active. Weather predictors are predicting an...more

Washington Federal Court Rejects Policyholder’s “Separate Claim” Argument

by Carlton Fields on

In April, a federal district court in the Western District of Washington issued a decision in National Union Fire Insurance Co. v. Zillow, Inc. While at first blush, it may seem only of interest to those who work with media...more

Court Declines to Order Arbitration of Bad Faith Case, Applying California Over Federal Law

In Los Angeles Unified Sch. Dist. v. Safety National Casualty Corp. (No. B275597, filed 7/12/17), (“LA Unified”), a California appeals court held that a California state court has the discretion under state law to refuse...more

Positive Signs in the Enforcement of Late Notice Provisions

by Cozen O'Connor on

This year was off to a positive start in the realm of property insurance with a decision out of the Second Circuit upholding an at times embattled policy provision that is found in nearly every property insurance policy: the...more

NYDFS Makes Inquiry into Life Insurers’ Use of Algorithmic Underwriting

On June 29, 2017, the New York Department of Financial Services (NYDFS) issued an information request pursuant to Section 308 of the New York Insurance Law addressed to all life insurers and fraternal benefit societies...more

Hurricane Cyber? Insurers Confront Unpredictable Data Breach Costs

by Fox Rothschild LLP on

Venerable insurer Lloyd’s of London says a global cyber attack on a major provider of cloud services could carry costs of up to $53 billion, reports Data Breach Today. That’s a hefty price tag that explains the rising...more

Texas And Wisconsin Join List Of States Permitting Domestic Surplus Lines Insurance

by Carlton Fields on

On June 15 and 22, 2017, respectively, the Governors of Texas and Wisconsin approved new laws permitting domestic surplus lines insurers in those states (i.e., insurers domiciled in Texas and Wisconsin) to conduct business...more

Monetizing Dormant Assets to Make Speculative, but Principal Protected, Investments

by Slim Ventures LLC on

Adventures In Structured Finance - Scenario: A successful Developer has a large tract of entitled but unimproved land worth, for illustration purposes, over $30,000,000. He is keen to sell it but the offers he has...more

Health Care Reform Weekly Roundup – Issue 7

All eyes are on the Senate at the moment as efforts to round-up support for the Better Care Reconciliation Act (BCRA) continue. Developments over the past week are summarized below....more

Health Care Weekly Preview from ML Strategies – July 2017 #2

Welcome back everybody. The absence of Senator John McCain (AZ) – who is recovering at home from a craniotomy – has caused Senate Republicans to delay consideration of the Better Care Reconciliation Act (BCRA) previously...more

NYDFS Updates FAQs to Clarify Cybersecurity Regulations

by Ballard Spahr LLP on

The New York Department of Financial Services (NYDFS) recently updated frequently asked questions (FAQs) about its cybersecurity regulations, 23 NYCRR 500, to address four new issues. NYDFS published its initial set of FAQs...more

Court Finds California Insurance Code Section 11658.5 Reverse-Preempts Section 4 Of The FAA

by Carlton Fields on

National Union Fire Insurance Company of Pittsburgh, PA provided Seneca Family of Agencies with workers’ compensation and employers’ liability insurance for Seneca’s operations in California from 2004 to 2013. The parties...more

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