Casualty Insurance

News & Analysis as of

Hurricanes vs. Wildfires — 2015’s Dramatic Contrast

Two of this blog’s four rotating headers depict a hurricane and a fire as examples of potentially-destructive types of property damage, and the hurricane season (June through November) and the wildfire season (late spring...more

IREG Update - August 2015

Hot Topic: Re"visiting" the sharing economy - A primer on the insurance issues surrounding lodging sharing companies - Background Beginning in the early 2000's, social technologies enabled the emergence of new...more

Not-So-Sudden Impact: Insurers Face A New Breed Of Claim Under the Fair Housing Act (Part 3 of 3)

This is the final article of a three-part series about two recent decisions by federal courts in Connecticut and California: Viens v. America Empire Surplus Lines Ins. Co., No. 3:14cv952 (D. Conn. June 23, 2015), and Jones v....more

2015 Florida Legislative Post-Session Report

Carlton Fields Jorden Burt’s Government Law and Consulting Practice Group released its 2015 Florida Legislative Post-Session Report detailing significant bills that passed during the 2015 Regular Session of the Florida...more

Motion To Compel Arbitration Granted In Hurricane Sandy Row

A New York district court granted Hudson Specialty Insurance Company’s (“Hudson”) petition to compel arbitration against New Jersey Transit Corporation (“N.J. Transit”) after determining that the parties had agreed to...more

Planning for the Unexpected: Casualty issues in Commercial Properties

PROPER BUSINESS PLANNING includes planning for unlikely but significant events such as a casualty that impacts commercial property. In part 1 of a 2 part article, we will focus on some key issues that tenants need to...more

Telematics and Usage-Based Insurance

The NAIC’s Center for Insurance Policy and Research (CIPR) released a white paper analyzing the future of "telematics" in premium rate-making by auto insurers. Telematics allow for the measurement of actual driving...more

Credit For Reinsurance Laws – 2015 Legislative And Regulatory Developments

During the first half of 2015, state legislatures and state insurance departments continued to revise state credit for reinsurance laws and regulations. The majority of these legislative and regulatory developments are due to...more

IREG Update

State insurance commissioners take on price optimization - To date, four states—California, Florida, Maryland and Ohio—have issued formal bulletins and memoranda, prohibiting the practice of “price optimization” by...more

Insurance – Property Casualty – Vandalism Exclusion

Hung Van Ong v. Fire Insurance Exchange - Court of Appeal, Second Appellate District (April 3, 2015) - California’s standard form for fire insurance policies (Insurance Code section 2071) requires coverage for...more

Writing for Mealey's, Tom Bush Analyzes Antitrust Issues with Joint Underwriting

With insurance companies coming under increased scrutiny from government antitrust enforcers and the plaintiff antitrust class action bar, many companies are undertaking a reassessment of their practices for compliance with...more

California Joins Maryland and Ohio in Addressing “Price Optimization”

The California Insurance Commissioner issued a notice on February 18, 2015 to more than 750 property and casualty insurers doing business in California, announcing that “any use of Price Optimization in the ratemaking/pricing...more

Expenses Once Again Found To Be Part Of Coverage Limit In Battle Against Reinsurer

In November, an Illinois appellate court affirmed an order granting defendant MidStates Reinsurance Corporation’s (“MidStates”) motion for judgment on the pleadings because the reinsurer had fulfilled its obligation to pay up...more

No Private Right to Recoup Funds Based on Corporate Practice of Medicine Violation

The United States District Court for the Western District of Washington ruled recently that the state’s corporate practice of medicine doctrine does not provide a private right of action, either express or implied, and...more

Maryland Insurance Administration Prohibits Use of Price Optimization to Rate Property & Casualty Insurance Policies

On October 31, the Maryland Insurance Administration (MIA) issued Bulletin 14-23 (the "Bulletin") to property and casualty insurers. It prohibits the use of price optimization in setting rates for policies issued in Maryland....more

Regional Steel: the continuing effort to avoid the cost of correcting the insured’s work

Casualty insurers normally do not expect to pay the cost of their insureds simply doing a good job. Insurers typically view their contracts as assuming the risk of delineated consequences – damages – if the insured’s work...more

As Fear of Ebola Widens, Corporate Policyholders Seek To Prevent Loss While Insurers Seek To Exclude Loss

In response to the widespread fear of Ebola, at least one insurance company is seeking to protect itself from potentially significant financial loss in the event Ebola continues to spread beyond Africa by adding...more

NAIC Report: 2014 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) met for its Spring National Meeting in Orlando, Florida from March 29 through April 1. Typical for the first national meeting of the year, much activity was focused...more

Lending Focus: Insurance Proceeds & Casualty Events

Rebuilding After a Casualty. Recent events such as Hurricane Sandy confirm that commercial properties can incur substantial damage and that insurance claims will follow. When the property is encumbered by a mortgage,...more

Insurance Antitrust Legal News - March 2014 • Volume 3, Number 2

In This Issue: - FTC COMMISSIONER CRITICIZES PROPOSED LEGISLATION THAT WOULD PERMIT HEALTH PROVIDERS TO NEGOTIATE JOINTLY WITH HEALTH INSURERS: In a February 26 speech before the Connecticut Bar Association,...more

District court finds that insurance premium excise tax does not apply to retrocession transactions

On February 5, 2014, the US District Court for the District of Columbia held that the federal excise tax ("the FET") on insurance and reinsurance premiums does not apply to retrocession insurance transactions. Under a plain...more

Insurance Topics We Will Be Watching in 2014

With the first month of the year behind us, this report outlines major insurance topics that we will be watching throughout 2014. Forces, trends and events that we believe will affect regulation, transactions and...more

Massachusetts Governor Proposes Insurance Industry Pass-Through Tax

Massachusetts Governor Deval Patrick released his proposed FY 2015 budget on January 22, 2014. The proposed budget includes a tax provision that is targeted directly at the licensed insurance industry. Currently, income...more

Tennessee Court of Appeals Interprets Exclusionary Clause in Automobile Casualty Insurance Policy

Recently, the Tennessee Court of Appeals issued an opinion involving the interpretation of an exclusionary clause in an automobile casualty insurance company. In the case of Weed v. First Acceptance Insurance Company of...more

Top Regulatory Issues for the Insurance Industry in 2014?

The answer depends on whom you ask, of course - and, as Hilary Rowen, partner at law firm Sedgwick LLP, noted: it can also differ by insurance industry sector. Here’s what we heard back....more

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