Insurance Industry

News & Analysis as of

Direct access to insurers of insolvent entities at last? Third Parties (Rights Against Insurers) Act 2010

After considerable delay the long-awaited Third Parties (Rights Against Insurers) Act 2010, having been amended by the Third Parties (Rights Against Insurers) Regulations 2016, is finally due to come into force on 1 August...more

Is a Rock a Landslide? Montana Supreme Court Says Yes

In a recent decision, the Montana Supreme Court upheld application of an Earth Movement exclusion to bar coverage for damage to a home when a single large boulder rolled down a hill and smashed into it. In doing so, the court...more

Court Distinguishes Between Claims For Relief And Affirmative Defenses In Denying Rehearing Of Order Compelling Arbitration

On May 11, 2016 we reported on a dispute between certain captive insurance administrative service providers (Capstone) against various defendants concerning the rights to certain intellectual property related to a captive...more

New Texas Form A Requirements and Confidentiality Provisions Adopted by Texas Department of Insurance

The Texas Department of Insurance (TDI) recently adopted amendments to 28 TAC §7.209 (Rule 7.209) relating to the requirements for Form A filings in connection with the acquisition or change of control of Texas domestic...more

Indiana Court Concludes Broad Pollution Exclusion Is Ambiguous

In its recent decision in Old Republic Ins. Co. v. Gary/Chicago International Airport Authority, 2016 U.S. Dist. LEXIS 96361 (N.D. Ind. July 25, 2016), the United States District Court for the Northern District of Indiana had...more

Surplus Lines Clearinghouse Provides Instructions Following The Dissolution Of The Non-Admitted Insurance Multistate Agreement...

In a Special Focus article posted on May 2, 2016, we addressed the uncertain future of the multi-state allocation of non-admitted premium tax revenue. The Non-admitted and Reinsurance Reform Act (NRRA) provides for individual...more

Healthcare Newsletter: Volume 6, Number 1

Recent Developments in Mental Health Benefit Denials - The Mental Health Parity and Addiction Equity Act (Parity Act) requires health plans to provide the same coverage for mental health conditions as they provide for...more

Prevailing in an Era of Regulatory Enforcement – Balancing Risk and Compliance [Expect Focus – Vol. II, July 2016]

IN THE SPOTLIGHT - - SEC Sanctions Unregistered EB-5 Investments Broker SECURITIES - - FINRA to Assess Member Firms’ Culture - SEC Seeks Fund Responses to Distribution-In-Guise Guidance...more

Insurers Challenge Retroactive Application of New Florida Law that Requires Comparison of Names of Accounts to Death Master File

Amendments to the Florida Disposition of Unclaimed Property Act in 2016 made significant changes to unclaimed property presumptions and insurance company obligations. See § 717.107, Fla. Stat. (2016) (the Act). Among other...more

Real Property & Title Insurance Update: Week Ending July 22, 2016

Lis Pendens: a party seeking to maintain a lis pendens must establish a “fair nexus” between the party’s claim and the subject property by making “a minimal showing that there is at least some basis for the underlying claim...more

TRIA Update: NAIC Data Call Imminent

Last week, the National Association of Insurance Commissioners (“NAIC”) provided an update on its TRIA data call initiative (the “Data Call”). As we previously reported, the NAIC has been in discussions, separate and apart...more

No Health Insurers Need Apply: Health Plan Can’t Recover Medical Costs From NY No-Fault Insurer

Under no-fault laws, automobile policies typically must cover the cost of certain medical services provided to policyholders who have been injured in covered accidents. New York’s insurance laws also permit those costs to be...more

Don’t Mess with the Texas Prompt Payment of Claims Act: One Court’s Appraisal Result

Virtually all property insurance policies contain an appraisal clause, which outlines the appraisal procedure in broad terms. Those broad terms sometimes do not provide much guidance about the process, or about the effect...more

Blog: FCA castigates the principals of appointed representatives in the general insurance sector

The FCA has just published a damning Thematic Review: “Principals and their appointed representatives in the general insurance sector“. The FCA asked 190 network principals to complete an online survey; asked 15 of these...more

Blog: Supreme Court rules that “collateral lies” are no bar to a claim on an insurance policy

In Versloot Dredging v HDI Gerling Industrie Versicherung AG [2016] UKSC 45, the Supreme Court held that a claim which is supported by a fraudulent narrative will not be subject to forfeiture under the fraudulent claims rule...more

Real Property & Title Insurance Update: Week Ending July 15, 2016

REAL PROPERTY UPDATE - Foreclosure/Unclean Hands: defense of unclean hands insufficient where borrower alleges bank’s loan officer inflated borrower’s income and assets to qualify for loan where borrower signed off on...more

DOJ Seeks to Block Two Major Health Insurance Mergers

The United States Department of Justice (DOJ) is suing to block two proposed mergers between major health insurance companies, claiming that the deals violate antitrust laws and would lead to increased health care costs for...more

California Federal Court Dismisses Claims In Class Action To The Extent Plaintiff’s Claims Are Based On The Theory That Rates Were...

In this class action lawsuit in a California federal court, Shasta Linen Company and all those similarly situated brought an action against Applied Underwriters, Inc. and its affiliate entities. Shasta Linen alleges that the...more

Is There Coverage for The Pill Mill Lawsuits?

In an effort to deal with the terrible epidemic of drug abuse and the human and economic costs of this dilemma, the state of West Virginia has brought lawsuits in several jurisdictions against pharmaceutical companies and...more

Impact of Brexit on Policyholders Buying Insurance in the UK Market

Following the UK referendum vote on 23 June to leave the European Union, businesses and individuals around the world are closely monitoring the emerging political, business and economic situation. It is not yet known...more

Black Hat Reports Increase in Cybersecurity Concerns

The 2016 Black Hat Attendee Survey was published in advance of the 2016 Black Hat Conference. Not surprisingly, the respondents to the survey conveyed an increased concern regarding security breaches versus 2015. An alarming...more

Crisis Management in the Gas Patch (Part 1): Control of Well Insurance

In a challenging business climate, such as when oil and gas are selling at low prices, exploration and production companies are not only increasingly selective with their drilling programs and capital expenditures, but are...more

What Are Insurers Using for Excuses Not to Pay Claims?

We have seen a recent rash of cases where defending insurers are stretching to new lengths to force their insureds to contribute substantially more that the deductible bargained for in the policy, often grasping at the straw...more

Fourth Circuit Affirms Denial of Coverage for Accidental Gunshot Injury

On April 14, the Fourth Circuit held that an insurer owed no defense or indemnity coverage for an underlying personal injury suit against the policyholder’s employee, a security guard who accidentally shot a friend while...more

The California Earthquake Authority (CEA) is Considering Purchasing Cat Bonds over Reinsurance

This year the CEA will buy more reinsurance than in prior years, but the CEA may be casting an eye towards revenue bonds as part of its overall claims-paying resources, believing that a bond program could be more effective...more

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