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On February 1, 2024, the U.S. Court of Appeals for the Sixth Circuit, in an unpublished opinion, held that a bank’s professional liability insurance includes coverage for a $32 million settlement payment the bank made to...more
Here is what we cover in this issue of The Title Reporter: A Legal Update for the Title Insurance Industry: •An appellate court in Arkansas, affirming a trial court’s decision, has ruled that a title insurer had properly...more
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
Causation, an issue courts often wrestle with when deciding insurance coverage issues, lands the starring role in our February Insurance Update. •A county experienced higher costs due to the opioid crisis. Does its...more
Corporate policyholders often assume their computer fraud crime insurance will cover so-called social engineering thefts. Reasonably so. Fraudsters commit these crimes by using computers to trick innocent employees into...more
The Fifth Circuit Court of Appeals recently reversed a ruling that a directors and officers liability policy provided no coverage for an insured financial services firm that fell for a scam involving a fraudulent direction to...more
In Verizon Communications Inc. v. National Union Fire Insurance Co. of Pittsburgh, Pa. the Delaware Superior Court ruled that Verizon was entitled to a defense under its D&O policy for fraudulent transfer claims. Although the...more
In our March Insurance Update, we discuss four state supreme court cases and four cybercrime cases. The state high courts address: •From whose perspective should a consent-to-settle provision be judged? •What standard...more
Burkhart v. Genworth Fin. Inc., C.A. No. 2018-0691-JRS (Del. Ch. Jan. 31, 2020). This case illustrates not only that plaintiffs who have only unmatured and contingent claims against a transferor have standing to seek...more
Companies of all sizes have fallen victim to attacks whereby fraudsters will use deceptive communications, such as spoofed emails, to trick an employee into transferring money into the fraudsters’ control. While these...more
An unbroken sequence of Delaware trial court decisions have reflected strong pro-policyholder leaning in insurance cases in furtherance of the state’s pro-business model. Following the most recent of these pro-policyholder...more
A Louisiana appeals court recently affirmed class certification in consolidated lawsuits, pending since 1991, against Louisiana’s Department of Insurance, other related state entities, and the state’s excess insurance...more
Odyssey Reinsurance Company obtained a $3.2 million default judgment on October 4, 2017, against Cal-Regent Insurance Services Corporation and Pacific Brokers Insurance Services (“PBIS”) as a result of fraudulent transfers...more
Claims-made policies often cover acts that occur before a policy period, so long as they result in a covered claim during the policy period. This is a fundamental difference between claims-made and occurrence policies. But...more
Real Property Update - Foreclosure/Standing/Lost Note: if plaintiff did not have right to enforce note when lost, plaintiff should present evidence of assignment from payee to plaintiff or affidavit of ownership - ...more