Excess Policies

News & Analysis as of

7th Circuit Holds Excess Insurer Has No Duty to Indemnify Punitive Damages

In its recent decision in Fox v. Am. Alternative Ins. Corp., 2014 U.S. App. LEXIS 12799 (7th. Cir. July 7, 2014), the United States Court of Appeals for the Seventh Circuit, applying Illinois law, had occasion to consider...more

New York Department Of Financial Services (“NYDFS”) Adopts Emergency Regulation Regarding Excess Line Placements Governing...

The Emergency Regulation, effective April 21, 2014, conforms 11 NYCRR 27 to the requirements of the Non-Admitted and Reinsurance Reform Act of 2010 (“NRRA”). The amendments make the following changes to Insurance Regulation...more

Insurance Recovery Law - July 2014 #3

Washington Supreme Court Rules That It Was Error To Delay Adjudication Of Insurer’s Duty To Defend, But Should Stay Discovery As To Insurer’s Coverage Defenses - Why it matters: The Washington Supreme Court...more

Sixth Circuit Blurs Line Between Primary and Excess

The Sixth Circuit recently addressed the question of whether an excess insurer must provide a defense when the primary insurer fails to do so. In IMG Worldwide v. Westchester Fire Insurance Company, No. 3836 (6th Cir. July...more

Insurance Recovery Law - July 2014 #2

U.S. Bank Wins Coverage Under Delaware Law For $55 Million Overdraft-Related Settlement - Why it matters: In a victory worth tens of millions of dollars, a Minnesota federal court ruled that U.S. Bank is...more

Bad Faith Sentinel - July 2014

In This Issue: - Eleventh Circuit: Excess Insurer, Like All Florida Bad Faith Claimants, Must Prove Causation to Succeed on Bad Faith Claim Against Primary Insurer - Northern District of Alabama: No Bad Faith...more

Eleventh Circuit: Excess Insurer, Like All Florida Bad Faith Claimants, Must Prove Causation to Succeed on Bad Faith Claim Against...

Westchester Fire Insurance Co. v. Mid-Continent Casualty Co., No. 13-12932, 2014 WL 2766764 (11th Cir. Jun. 19, 2014) - The Eleventh Circuit finds that a primary insurer did not act in bad faith by failing to inform...more

Summary of California Appellate Decisions - June 2014

Insurance Coverage; Professional Services Exclusion; Completed Operations; Duty To Defend: North Counties Engineering, Inc. v. State Farm General Insurance Company (2014) 224 Cal.App.4th 902, 169 Cal.Rptr.3d 726...more

Eleventh Circuit Rejects Excess Insurers Bad Faith Claim Against Primary Insurer Due to Lack of Damages Causation

The Eleventh Circuit Court of Appeals reversed a Florida district court’s award of damages to the excess insurer on the ground that the excess insurer failed to prove the primary insurer’s alleged bad faith had caused the...more

Policyholder Observer

Encryption Flaw "Heartbleed" Creates Data Risk: How Insurance Can Stanch the Bleeding - In early April, news broke of an encryption flaw named “Heartbleed” that exposed companies to data breaches for over two and one...more

New York High Court Finds that New York Insurance Law §3420(d)(2)’s Prompt Notice Requirement Does Not Extend to Claims Limited to...

In KeySpan Gas East Corp. v. Munich Reinsurance America, Inc., et al., — N.Y.3d –, (N.Y. June 10, 2014), a case involving two environmental damage claims, the New York Court of Appeals reversed an appellate decision which...more

Bad Faith Sentinel - May 2014

In This Issue: - Northern District of New York: Primary Insurer That Waited Nine Years to Tender Policy Limits to Injured Plaintiff Was Liable to Excess Carrier for Bad Faith - Middle District of Pennsylvania:...more

Insurance Recovery Law - May 2014

New York Court Strictly Applies Draconian Policy Language, Holding Excess Coverage Forfeited By Settling With Underlying Insurers For Less Than Policy Limits - Why it matters: A New York appellate court has...more

Time To Reconsider The Assignability Of Certain Claims

If an insurance company refuses to settle a claim, once liability has become reasonably clear and there is an opportunity to settle within limits, the defending insurer runs the risk of an excess verdict. Once the verdict is...more

Northern District of New York: Primary Insurer That Waited Nine Years to Tender Policy Limits to Injured Plaintiff Was Liable to...

Quincy Mutual Fire Ins. Co. v. New York Central Mutual Fire Ins. Co., No 3:12-CV-1041-DEP (N.D.N.Y. March 31, 2014) - The Northern District of New York held that a primary carrier that declined to settle an underlying...more

Policyholders Beware: New York Court Finds Policyholder Forfeited Excess Coverage By Settling With Underlying Carriers For Less...

Many excess insurance policies provide that coverage is not available unless all underlying insurers have first paid the full limits of their policies. Relying on such language, excess insurers argue that when a policyholder...more

Insurance Recovery Law

Horizontal Exhaustion Not Required for Excess Policies in New York - Why it matters: A Delaware superior court recently predicted that New York’s highest court would not require policyholders to horizontally...more

Policy Observer - March 2014

D&O Coverage for Subpoena Response Costs: An Emerging Consensus? Responding to a subpoena can be an expensive proposition. Fortunately, in many instances, a company can call upon its D&O insurer to help defray the...more

New Ruling Permits Lenders to Require Flood Insurance Coverage in Excess of Loan Amount

Recent events have been highlighted in the press, regarding the redrawing of federal flood hazard maps and proposed increases in premium rates for flood insurance for property owners within special flood hazard zones, which...more

Insurance Recovery Law - Jan 30, 2014

California Court Recognizes Named, Additional Insureds Have Different Expectations - Why it matters: While the holding sounds straightforward – the reasonable expectations of an additional insured about the...more

Not All Policies Are Created Equal: Evergreen State Appeals Court Blocks Policyholder Reach to Excess Insurance After Settlement...

The decision in Quellos Group LLC v. Federal Insurance Co., No. 68478-7-1 (Wash. Ct. App. Nov. 12, 2013) is a reminder that vague policy language can be costly. You may not have access to your excess insurance funds. The...more

Washington Appellate Court Holds That Below-Limits Settlement Fails to Trigger Excess Policies

On November 12, 2013, in Quellos Group LLC v. Federal Insurance Company, the Washington Court of Appeals affirmed summary judgment in favor of two excess professional liability insurers because the excess policies “require[d]...more

Louisiana Court Dismisses Excess Insurer’s Claim Against Primary Insurer

In its recent decision in RSUI Indem. Co. v. American States Ins. Co., 2013 U.S. Dist. LEXIS 161805 (E.D. La. Nov. 13, 2013), the United States District Court for the Eastern District of Louisiana had occasion to consider the...more

Second Circuit Weighs in on D&O Excess Coverage

Case Notes - September 12, 2013 Second Circuit Weighs in on D&O Excess Coverage - A recent hot topic in the world of directors and officers (D&O) liability insurance is the application and interpretation of...more

Reinsurance Newsletter - September 2013: New York Federal Court Limits Cedent’s Right To Reinstatement Premium Payment...

Aioi Nissay Dowa Ins. Co. v. Prosight Specialty Mgmt. Co., 11 Civ. 1330 (JPO), 2013 U.S. Dist. LEXIS 87050, 2013 WL 3111349 (S.D.N.Y. Jun. 20, 2013). A New York federal court sided with a reinsurer in a dispute with a...more

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