Insurance Industry

News & Analysis as of

Surplus Insurers, Too, Can Rely on the Application to Interpret Policy

Section 627.419 of the Florida Statutes provides that “[e]very insurance contract shall be construed according to the entirety of its terms and conditions as set forth in the policy and as amplified, extended, or modified by...more

Washington Weighs In On The Scope Of Insurance Regulators’ Authority

In January, we reported that California’s Supreme Court had embraced a problematic approach to the state’s Unfair Insurance Practices Act—one that allows the Commissioner of Insurance to create new statutory torts by...more

Insurance Industry Exploration of Blockchain Expands

The insurance industry’s exploration of blockchain-based solutions continues to expand, potentially impacting future policies available to commercial policyholders. The Blockchain Insurance Industry Initiative (B3i), an...more

Top 10 Things Corporate Attorneys Should Know About Insurance

Almost every corporate transaction — mergers, purchase and sales, real estate matters, among others — involves some “insurance” related issues. They can range from simple “insurance requirements” in the corporate documents to...more

They threatened to sue! What do I do? (Law note on construction disputes)

I just spent some time answering emails from folks worried because they’ve been threatened with a lawsuit over a construction project gone bad. They want to know: Can they do that? What can they get? But what...more

Phishing in the Insurance Coverage Gap

Many companies that have both commercial crime and cyberliability insurance policies are learning, to their surprise, that they may not be fully covered if their employees fall for social engineering scams. While the...more

International Product Liability Review - Issue 65

The International Product Liability Review provides quality updates and comment from around the world on legal developments in the field of product liability and product safety. Please see full Publication below for more...more

Real Property & Title Insurance Update: Week Ending February 10, 2017

REAL PROPERTY UPDATE - Foreclosure: where foreclosing bank, who purchased debt from original mortgagee, failed to establish standing to enforce lost note “through evidence of a valid assignment, proof of purchase of the...more

The Anthem Breach – A Retrospective (Part II)

We published Part I of our “Anthem Breach Retrospective” in January 2017. Coincidentally, at around the same time several plaintiffs in one of the earliest filed cases arising out of the Anthem data breach voluntarily asked...more

Good Advice for Everyone: Ten Steps to Avoid Big Trouble

On both a business and individual level, there are ten easy steps you can take now to avoid big trouble later. If you address just five of these items this month, you will be half way there. Originally published in the...more

Your Daily Dose of Financial News

We’ve talked a fair amount about the switch to chip & pin card systems over the past few years. But how about a lack of cards altogether? Because that’s what the banks have in mind....more

Not so divine intervention

The elements of delict have been the subject of much repetition when it comes to examining the claims that land on insurer's doorsteps. To such a degree that I'm convinced that it is a requirement that you should be able to...more

U.S. - EU Covered Agreement: The Road Ahead

On Thursday, February 16, the Housing and Insurance subcommittee of the Financial Services Committee of the United States House of Representatives will hold a public hearing entitled, “Assessing the U.S.-EU Covered...more

Eighth Circuit Pollution-Exclusion Opinion a Cautionary Tale for Natural Gas Industry

The interpretation and application of a pollution exclusion in a commercial general liability (“CGL”) policy is often a fact-specific and jurisdiction-specific exercise. That said, the U.S. Court of Appeals for the Eighth...more

Floundering GOP gets its ACA repeal-replace architect and tries ‘repairs’

Republicans jammed through their health policy guru in the middle of the night, and they and their new HHS Secretary are still trying to figure out what to do with the Affordable Care Act, aka Obamacare. Insurance markets are...more

Your Daily Dose of Financial News

Former AIG chief Hank Greenberg and his co-defendant, AIG’s former CFO, reached an “unexpected” settlement last week with NY officials. The duo will fork over about $10 million in bonuses payments and admit that they...more

Three Point Shot - February 2017

Ski Manufacturer Chills Bode Miller's Comeback - World champion skier and six-time Olympic medalist Samuel "Bode" Miller had his eye on coming out of retirement for the 2016-17 season before a contract dispute with his...more

News from the Vermont State House - An analysis from DRM's Government & Public Affairs Team - February 2017

The Agency of Transportation has submitted a proposal to the House Transportation Committee that would allow the agency to seek damages from a utility that fails to move or adjust a utility line that is in a state or local...more

Real Property & Title Insurance Update: Week Ending February 3, 2017

REAL PROPERTY UPDATE: Foreclosure/Sufficiency of Notice: although lender’s notice of default did not expressly state that property could be sold in foreclosure, it substantially complied with notice provision (paragraph...more

Insurer’s Denial of Mitigation Claim for Extra Costs to Prevent Cancellation of Contract Upheld

Many property insurance policies that provide coverage for business interruption losses also include “extra expense” coverage for reasonable and necessary extra costs to temporarily continue as nearly as possible normal...more

Third Circuit Affirms Rescission of $25 Million Contaminated Products Policy

In H.J. Heinz Co. v. Starr Surplus Lines Ins. Co., No. 16-1447 (3d Cir. Jan. 11, 2017), the Third Circuit affirmed a District Court’s order allowing insurer Starr Surplus Lines Insurance Company (“Starr”) to rescind a $25...more

Your Daily Dose of Financial News

Ex-VW-Chairman Ferdinand Piech has thrown a wrench in the automaker’s official narrative of the emissions cheating scandal by suggesting, in sworn testimony, that the company knew of the cheating months before it was...more

Second Circuit Offers Policyholders Painful Reminder on Giving Notice of Claims: Don’t Wait, Use Correct Addresses, and Be...

In January 2017, the Second Circuit ruled that policyholders must actually or presumptively give their insurers notice of specific policies under which they seek coverage—mailing a notice of the claim may not be enough....more

Court Finds Customary Use of Work Van for Personal Purposes is Regular Use and Not Covered Under Employee’s Personal Auto Policy

In Medina v. GEICO Indemnity (No. F072548, filed 2/8/17), a California appeals court ruled that a work van admittedly furnished to an employee for both business and personal purposes, being used for personal purposes at the...more

How to Avoid the Implied Waiver of the Attorney-Client Privilege In Arizona Insurance Bad Faith Cases

In State Farm v. Lee, 199 Ariz. 52, 13 P.3d 1169 (2000) (En Banc), the Arizona Supreme Court first held that an Insurer can impliedly waive the attorney-client privilege (the “Privilege”) in a bad faith case, despite not...more

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