Subro Sense Podcast - Unique Factors and Considerations in a Subrogation Release
M&A Auction Process
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
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
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
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
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
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
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
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
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
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
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
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
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 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
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
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
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
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
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
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
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
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
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
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
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