News & Analysis as of

Indemnity Insurance Insurance Industry

A&O Shearman

Mistake: Sometimes all it takes is one letter...

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The Court of Appeal has found that an alleged typo in a warranty and indemnity insurance policy did not amount to an obvious mistake. As a result, the insurance did not cover the claimed breach of warranty....more

Woodruff Sawyer

Agencies Release Final Regulations on Fixed Indemnity Insurance, Refrain from Addressing Level Funded Plans

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On March 29, 2024, the IRS, DOL and HHS (collectively, “the Agencies”) released final regulations implementing new notice requirements for group hospital or other fixed indemnity plans that begin on or after January 1, 2025....more

Groom Law Group, Chartered

Tri-Agencies Finalize Rule on STLDI, but Kick the Can Down the Road on Fixed Indemnity and the Health Plan Tax Exclusion

On March 28, 2024, the Departments of Labor, Treasury, and Health and Human Services (the “Tri-Agencies”) issued final regulations on short-term, limited-duration insurance (“STLDI”), hospital and other fixed indemnity...more

ASKramer Law

Weather & Climate Risk Management Part II: Weather Risk Management Products

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In Part I of this series on weather and climate risk management, I reviewed the context within which organizations seek to manage climate and weather-related risks. With extreme weather events becoming more common, there are...more

Goodwin

Developments in W&I Insurance in Asia

Goodwin on

In recent years, the number of insurers offering M&A insurance (known as warranty and indemnity (W&I) insurance) in Asia has doubled. This is ushering in a new era for risk allocation in M&A that is more favorable to buyers...more

Perkins Coie

Arrowood Indemnity Company Declared Insolvent

Perkins Coie on

Arrowood Indemnity, the runoff entity for Royal Indemnity and Royal Globe (Royal), was declared insolvent by the Delaware commissioner of insurance on November 6, 2023. This action was taken through the filing of a complaint...more

Sheppard Mullin Richter & Hampton LLP

Can an Insured’s Mental Incapacity or Insanity Convert Non-Accidental Conduct into an Accident?

The concept of fortuity is fundamental to insurance law. That is because insurance protects against the risk of contingent or unknown events or losses – not certainties of loss. Cal. Ins. Code § 22. Thus, in the context of...more

Woodruff Sawyer

Agencies Release Proposed Regulations on Fixed Indemnity Insurance, Seek Comments on Level Funded Plans

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On July 12, 2023, the IRS, DOL and HHS (collectively, “the Agencies”) released proposed regulations that modify the conditions for hospital indemnity and other fixed indemnity insurance to be considered an “excepted benefit.”...more

Woodruff Sawyer

Guide to Representations & Warranties Insurance - 2023 Edition

Woodruff Sawyer on

The use of representations and warranties insurance (RWI or R&W) has become increasingly mainstream; it is used in an estimated 75% of private equity transactions and 64% of the time by larger strategic acquirers. Woodruff...more

Snell & Wilmer

An Insurance Check Up for the Construction Industry

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The New Year is an opportunity to reset and reflect on your present condition and ways to improve. One thing all members of the construction industry, from owners to contractors, should do is check in on their insurance...more

J.S. Held

The Assault on Indemnity: Why Now Is the Time to Replace Actual Cash Value Language in Insurance Policies

J.S. Held on

Indemnification of the policyholder is a core principle of the property insurance industry. A similar principle holds that the policyholder shall be “made whole” but not put in a better position than it was prior to the loss....more

Wiley Rein LLP

Insured’s Failure to Allocate Settlement Between Covered and Uncovered Claims Precludes Recovery

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The United States District Court for the Southern District of Florida, applying Florida law, has held that an insurer had no obligation to provide any coverage for its insured’s unallocated, lump-sum settlement payment made...more

A&O Shearman

Professional indemnity insurance: cover for investigation costs

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Professional Indemnity (PI) insurance is intended to cover specified losses suffered by a business (or individual acting in their professional capacity) where it is alleged that the business has caused loss to its clients or...more

A&O Shearman

What to look for in a professional indemnity insurance policy

A&O Shearman on

A checklist setting out the key terms that insureds should review when notifying a claim or negotiating the terms of a professional indemnity insurance policy. Originally published in Practical Law....more

Carlton Fields

PSA: Second Circuit Issues Reminder of the Consequences for Lack of Specificity in Disclaimers of Coverage for Personal Injury...

Carlton Fields on

We have previously discussed the requirements imposed on insurers by New York law to inform insureds seeking coverage for death or bodily injury to describe any disclaimer of coverage “with a high degree of specificity of the...more

Barnea Jaffa Lande & Co.

Israeli M&A players take note, the Warranty & Indemnity (W&I) Insurance market has matured

We have seen continued increase in the use of W&I insurance, particularly in Private Equity backed deals, and across the spectrum of transaction sizes. Insurance limits placed globally by Marsh in 2019 grew by 51% from 2018,...more

Locke Lord LLP

The Case of the Disappearing Caps on Indemnity and Expenses

Locke Lord LLP on

For those old enough to remember, Abbott & Costello had a routine where the famous comedy duo debated the confusing question of “Who’s On First”. The evasive answer appeared to be in the eyes of the beholder....more

White and Williams LLP

New Jersey Federal Court Provides Clarification/Limitation on the Application of the Continuous Trigger Theory in Construction...

White and Williams LLP on

The proper trigger of coverage in construction defect disputes has been addressed on several occasions by New Jersey courts. Most notably, in Air Master & Cooling, Inc. v. Selective Insurance Company of America, 452 N.J....more

Haight Brown & Bonesteel LLP

Liability Policy’s Arbitration Endorsement Applies to Third Party Beneficiaries, Including Additional Insureds

In Philadelphia Indemnity Ins. Co. v. SMG Holdings, Inc. (No. C082841; filed 12/31/19, ord. pub. 1/28/20), a California appeals court held that a binding arbitration clause in an insurance policy extends to a third party,...more

Williams Mullen

[Webinar] The Intersection of Rep & Warranty Insurance and Delayed Closings - December 10th, 11:00 am ET

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Join Williams Mullen Partners Jon Bliley and Hal Johnson as they discuss the issues that may arise should you face a transaction with a delayed closing where a rep and warranty policy is the buyer’s sole source of...more

Butler Weihmuller Katz Craig LLP

Subro Sense Podcast - Unique Factors and Considerations in a Subrogation Release

There are many critical factors that must be considered when drafting or reviewing a proposed subrogation release. For example, many insurers are reluctant to agree to any indemnity, hold harmless, or confidentiality...more

BCLP

Insurance and Reinsurance Update

BCLP on

This is our pick of the key recent legal and regulatory issues affecting the insurance and reinsurance sector. Non Party PI Insurers Liable for Costs - In the January 2019 case of Various Claimants v Giambrone the...more

BCLP

Non Party PI Insurers Liable for Costs

BCLP on

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

Allen Matkins

Insurance Or Indemnity?

Allen Matkins on

Suppose you desire to place your prized collection of bibelots into storage. The storage company offers an to assume the risk of loss for an additional monthly payment. Have you entered into...more

Cooley LLP

Blog: High Court rules on reimbursement of defence costs under ICAEW Minimum Terms

Cooley LLP on

In Michael Jonathan Christopher Oldham v QBE Insurance (Europe) Limited [2017] EWHC 3045 (Comm) Mr Justice Popplewell held that under a policy governed by the ICAEW Minimum Terms (the minimum professional liability coverage...more

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