Commercial Insurance Policies

News & Analysis as of

New UK Insurance Act Coming into Force in August 2016 - Some Practical Tips for Policyholders in Anticipation of the Changes

As reported in our earlier alert the new Insurance Act (which will govern insurance policies placed, amended or renewed from 12 August 2016) is designed to provide a more up to date framework for commercial insurance in...more

Disputes come from two directions. Either a claim form or a letter threatening legal action lands on your desk, or you...

Disputes come from two directions. Either a claim form or a letter threatening legal action lands on your desk, or you discover that you have a potential legal claim against a third party. When this happens, what are the most...more

Insurance Review May 2016

It has been another active year for class action and mass tort litigation in Australia, with seemingly very few industries or sectors immune, even the legal industry upon which this burgeoning area of the law has been built....more

Policyholder Takeaways From Portal

In a solid victory for policyholders, the Fourth Circuit upheld coverage last week for a potential data breach incident involving confidential medical records. The case is The Travelers Indemnity Co. of America v. Portal...more

Colorado Supreme Court: Insurers Need Not Show Prejudice to Enforce No-Voluntary-Payments Provision of Insurance Policy

On April 25, 2016, the Colorado Supreme Court overturned a decision by the Colorado Court of Appeals and Colorado District Court in what is believed to be a seminal victory for insurers. In Travelers Prop. Cas. Co. of Am. v....more

Insurance Coverage – Equitable Contribution – “Other Insurance” Clauses

Certain Underwriters at Lloyds, London v. Arch Specialty Insurance Co. - Court of Appeal, Third Appellate District - (April 11, 2016) The original purpose of “other insurance” clauses was to prevent multiple...more

The Camel’s Nose: Incorporating Commercial and Construction Arbitration Rules

There is an old proverb that states, “If the camel once gets his nose in the tent, his body will soon follow.” Stated differently, one should not let the camel’s nose inside unless he or she is prepared to accept the whole...more

Do Fidelity Policies Issued to Individual Partners Provide Coverage for Theft of Partnership Earnings?

The Eighth Circuit is set to decide this question in 3M Company, et al. v. National Union Fire Insurance Company of Pittsburgh, Pa., et al., Appeal No. 15-3495. The answer will likely determine whether a blanket crime policy...more

“‘Tis As Easy As Lying”: Pennsylvania Court Rescinds Policy of Corporate Giant

Claims, arguments and tactics that are familiar from coverage disputes with consumers are increasingly being used against carriers by large corporate insureds—often with the assistance of well-known plaintiffs’ firms. Once in...more

Colorado Court Finds Legal Marijuana Insurable Under Commercial Property Policy and Orders Trial on Claim for Damaged Buds

ArcView Group, which tracks the legal marijuana markets, recently estimated that legal U.S. pot sales could reach $6.7 billion in 2016. As the legal marijuana economy has grown, insurance coverage for this emerging industry...more

Insurer Prevails on Rescission Claim Against H.J. Heinz Co.

On February 1, 2016, Judge Arthur J. Schwab of the Western District of Pennsylvania overrode a jury verdict and ruled that Starr Surplus Lines Insurance Company (Starr) can rescind its policy covering H.J. Heinz Co. for up to...more

As Winter Storm Jonas Bears Down, Businesses Should Seek To Protect Their Insurance Rights

While this year’s winter has been relatively mild for the East Coast, Winter Storm Jonas is expected to produce prolific amounts of snow in parts of the East, rivaling infamous snowstorms of the recent past. While the...more

Commodity finance: protecting the lender’s rights over the borrower’s insurance

Introduction - In commodity finance structures it is usual for the lender to require the borrower to arrange insurance cover for the goods that serve as collateral for the loan. This is because if the goods are damaged,...more

Talley’s Insurance Tip of the Month

Does your business provide a service and operate pursuant to contracts with vendors or sub-contractors? Talley’s tip: If so, take a second or third look at your contracts to make sure that you are getting the...more

Construction and Engineering Toolkit: Construction Insurance: Taking an Interest

Finance parties and others interested in major construction projects will usually want to be able to take the benefit of the project insurance arranged by the developer or contractor, so that their position can be protected...more

Insurance for Emerging Companies: Understand the Application You Are Signing

This is the second post in our series regarding coverage issues affecting emerging companies. This post addresses the insurance application process. The application is a critical part of the process because insurance...more

Sealing the Deal with Rep & Warranty Insurance

More and more parties to M&A transactions are utilizing representation and warranty insurance (“R&W insurance”) as a tool to reach agreement. While R&W insurance has been around for many years, its popularity has soared...more

Taking a Security Interest in Insurance

How many of your business and corporate customers carry business interruption insurance? For those that do, what steps, if any, have you taken when extending credit to obtain a security interest in the borrower’s business...more

Massachusetts Court: Loss of Drink Product Caused By Faulty Workmanship And Design of Bottle Caps Not a Covered Ensuing Loss

Monday saw a unanimous panel of Massachusetts’ intermediate level appellate court reject a policyholder’s ensuing loss arguments. In H.P. Hood LLC v. Allianz Global Risks U.S. Ins. Co., 2015 Mass. App. LEXIS 175, 2015 WL...more

Managing Project Risk With Enforceable Indemnity Agreements

Most contracts in the construction industry supply chain require the “downstream” project participant to indemnify those “upstream” against a spectrum of losses or claims relating to the project. Upstream participants, such...more

South Carolina’s 1,000-Year Flood Requires Immediate Recovery Action

South Carolina was recently pummeled by a devastating storm that Governor Haley described as happening “once in a thousand years.” Compounding the resultant flooding, many dam breaks exacerbated the catastrophic losses South...more

British Columbia Toughens Expectations Related to Creditor’s Group Insurance

British Columbia’s Financial Institutions Commission (FICOM) has issued Information Bulletin INS-15-002?, which sets out FICOM’s expectations for insurers, exempt sellers and creditors regarding creditor’s group insurance...more

Policyholder Insider Quarterly

Some Words Are More Equal Than Others: BancInsure vs. FDIC - In George Orwell's "Animal Farm", the governing principle that "all animals are equal" was revised by the pigs, who had ascended into power, to "all animals...more

Autonomous Vehicles – Where in the (Insurance) World Will They Go?

Self-driving cars are coming. In fact, Tesla Model S owners woke up on the morning of October 15, 2015 to discover that a software download to the cars has made them capable of steering and changing lanes at high speed,...more

Cyber-Attacks on Aviation Industry Rising; Traditional Aviation Insurance Policies Might Not Provide Coverage

What has prompted an uptick in cyber-attacks on airports and airlines operations? CB: Cyber-attacks are on the rise worldwide against all industries. The aviation industry – including airports and airlines – are not...more

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