On December 16, 2022, the U.S. District Court for the Southern District of Ohio held that a settlement of a fraudulent transfer suit was not covered under the settling defendant’s insurance policies. Huntington National Bank...more
Last week, AIG significantly restricted its underwriting of and investment in fossil fuel projects. Specifically, it announced the following actions: With immediate effect, committed to no longer invest in or provide...more
Thomas Guastello v. AIG Specialty Insurance Company, — Cal.Rptr.3d –, 2021 WL 650878 (Cal. Ct. App., Feb. 19, 2021), Fourth Appellate District Court of Appeal, Case No. G057714. Various stakeholders in the Pointe Monarch...more
In addition to dramatically changing the policies of former President Trump on the pandemic, the economy, immigration, and other key issues, the Biden Administration is likely to substantially increase the federal...more
Policyholders purchase excess coverage with the reasonable expectation that they will not face a series of different coverage positions from multiple layers of insurers when seeking payment for claims, but that is not always...more
In the January 2019 case of “Various Claimants v Giambrone” the English Court has awarded a non-party costs order against AIG, the law firm’s professional indemnity insurer. The Court’s decision appears to have applied a very...more
On March 1, a New York appeals court ruled that American International Group, Inc. (AIG) need not defend Carfax, Inc. against a $50 million suit alleging the company monopolized the vehicle history report market. ...more
That it took an appellate court to order AIG’s Lexington Insurance to honor its additional insured obligations is a measure of how frequently insurers attempt to dodge this important contractual obligation. The case of...more
On June 1, 2017, the U.S. District Court for the Northern District of Georgia granted summary judgment in favor of AIG Specialty Insurance Co. in a case involving the application of the firearms exclusion in Powe v. Chartis...more
The U.S. District Court for the Northern District of Georgia granted summary judgment in favor of AIG Specialty Insurance Co. in a case involving the application of the firearms exclusion in Powe v. Chartis Specialty...more
The Times gives us some insight into the opaque (but powerful) HNA Group—the Chinese entity that began with Hainan Airlines and has grown into a global investing and acquisition powerhouse that is now the largest shareholder...more
Willful misconduct is uninsurable. It is a fundamental principle of insurance, and it makes sense to both the lay and the lawyerly. But few states go as far as to codify this principle in the insurance code. California is an...more
Earlier this week, the Supreme Court overturned the Court of Appeal’s judgment in AIG Europe Limited v Woodman and others UKSC 2016/0100, ruling on how claims arising from similar acts or omissions in a series of related...more
Former AIG chief Hank Greenberg and his co-defendant, AIG’s former CFO, reached an “unexpected” settlement last week with NY officials. The duo will fork over about $10 million in bonuses payments and admit that they...more
The Central District of California held that Section 533 of the Insurance Code eliminated any potential for coverage for suit under the state False Claims Act. On January 4, the U.S. District Court for the Central...more
It wasn’t exactly a direct reaction to his testimony on the Hill, but Wells Fargo CEO John Stumpf didn’t do himself any favors there, and Wells Fargo’s Board has announced that it will claw back an estimated $41 million in...more
A federal court has ruled that a whistleblower suit under California’s False Claims Act alleged a “willful act” that cannot be covered by liability insurance. In Office Depot Inc. v. AIG Specialty Insurance Company, Case...more
In This Issue: IN THE SPOTLIGHT - - Your Data Breach Collided With My Personal Injury Coverage LIFE INSURANCE - - Phantom Injury Dooms “Shadow Insurance” Case - Latest NAIC Cybersecurity News ...more
The Court of Federal Claims recently held that the coercive terms of the government’s $85 billion bailout of AIG were illegal. The victory, however, was merely a moral one because plaintiffs walked away with a $0 damage...more
Courts in numerous jurisdictions continue to consider whether reinsurance-related information is discoverable in insurance coverage litigation. Decisions go both ways. Some courts find that reinsurance information and...more
The FAA has granted insurer American International Group approval to use drones to conduct inspections in domestic airspace, AIG announced today. AIG intends to use the drones to survey disaster areas, hoping this will lead...more
Court’s Decision Prompts Policyholders to Seek Defense Quickly or Risk Awaiting Conclusion of Coverage Action to See Reimbursement - Why it matters: A policyholder who does not act promptly to seek advancement...more