News & Analysis as of

Insurance Industry

Real Property & Title Insurance Update: Week Ending July 14 & 21, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Standing: note owner had constructive possession of promissory note in original servicer’s physically possession of blank-endorsed note when it filed the complaint, and had standing to...more

Kentucky Court Holds Professional Liability Insurer Can Pay Limits and Terminate Its Defense Obligation

In its recent decision in Mt. Hawley Ins. Co. v. MESA Med. Grp., PLLC, 2017 U.S. Dist. LEXIS 111949 (E.D. Ky. July 19, 2017), the United States District Court for the Eastern District of Kentucky had occasion to address a...more

The Continuing Saga of Sebo v. American Home Assurance Company: The Second District Court of Appeal Rules on Remand

On July 20, 2017, the Second District Court of Appeal issued an order that closed its books on the Sebo appeal. Mr. Sebo made a homeowner’s claim to American Home contending construction deficiencies had allowed water to...more

Eighth Circuit Affirms Dismissal of RICO Claim in So-Called Shadow Insurance Suit

by Carlton Fields on

In Ludwick v. Harbinger Group, the U.S. Court of Appeals for the Eighth Circuit affirmed the dismissal under the McCarran-Ferguson Act of a federal RICO claim against Fidelity & Guaranty (and its owner and several affiliates)...more

Eleventh Circuit to Weigh in on ‘Business Email Compromise’ Coverage Under Fidelity Bond

by Carlton Fields on

Banks have historically been at the forefront of technological advances in commerce. So it should be no surprise that they and other financial institutions were also among the first to suffer losses related to computer fraud...more

That Sinking Feeling: Sinkholes, Florida Law, and Some Questions Raised by The Recent Collapse in Land O' Lakes

The recent catastrophic ground cover collapse in Land O’Lakes attributed to a sinkhole highlights the unique aspects of Florida geology and the impact it can have on the risks faced by building owners and their insurers. In...more

Recent Ninth Circuit Rulings Uphold Plaintiffs’ Efforts to Predicate Claims on Alleged Insurance Code Violations — Likely More to...

by Carlton Fields on

Recent rulings suggest insurers face increased risk of suits predicating breach of contract and state unfair trade practices claims on alleged violation of state insurance laws, notwithstanding the lack of an express private...more

Second Circuit Follows Viking Pump Methodology to Calculate Total Insurance Liability for Environmental Cleanup Efforts Spanning...

On July 17, the U.S. Court of Appeals for the Second Circuit decided the case of Olin Corporation v. OneBeacon America Insurance Company, an environmental insurance recovery lawsuit. Olin Corporation has filed such lawsuits...more

Future of Insurtech: Opportunities and Challenges

The emerging insurance tech (“insurtech”) industry is growing at breakneck speed. While in 2011 insurtech startups received $140 million in funding from 28 total deals, investment increased more than tenfold in 2016, with...more

The DOL Fiduciary Rule: Charting a Course, Avoiding Collisions & Potential Litigation - Q&A on IRA Transactions

by Carlton Fields on

Previously, I wrote about potential litigation under the Department of Labor’s then proposed fiduciary rule (see Expect Focus, Vol. II, 2015). I predicted the following as to sales of index annuities to IRAs if the rule was...more

The Importance of Careful Coverage Analysis

Ohio has joined the majority of jurisdictions in holding that a general liability policy may provide coverage for claims made by a project owner for property damage allegedly caused by the defective work of a subcontractor....more

Allocation Governed by “All Sums” Where Policy Contains “Prior Insurance” or “Non-Cumulation” Clause

by Cozen O'Connor on

On July 18, 2017, the U.S. Court of Appeals for the Second Circuit adopted the New York Court of Appeals’ previous holding that the “all sums” provision in the insuring agreement permits an insured to access the limits of all...more

New York’s High Court Holds Additional Insured Coverage Extends Only to Injuries Proximately Caused by Named Insured’s Fault

by Carlton Fields on

On June 6, the New York Court of Appeals in Burlington Insurance Co. v. NYC Transit Authority held that where liability is limited to injuries “caused, in whole or in part” by the named insured’s “acts or omissions,” coverage...more

Ninth Circuit Finds Incorporation Of ICC Rules Into Arbitration Agreement Constitutes Clear And Unmistakable Evidence Of...

by Carlton Fields on

In a case involving three related contracts, only one of which contained an arbitration agreement, the Ninth Circuit has held that incorporation of the rules of the International Chamber of Commerce (ICC) into an arbitration...more

Participants who roll their pension benefits into IRAs do not ‘receive’ them

by Thompson Coburn LLP on

Metropolitan Life lost a case in the 5th Circuit on July 18, 2017, that probably surprised MetLife and may surprise you. The case is Thomason v. Metro. Life Ins. Co., 2017 WL 3049528 (5th Cir. July 18, 2017), and you may want...more

ARIAS Certified Arbitrators: One Size Does Not Fit All

by Locke Lord LLP on

The Board of Directors for the AIDA Reinsurance and Insurance Arbitration Society (“ARIAS”) has been considering increasing ARIAS’ reach by expanding membership to brokers and policyholders. This is only in the exploratory...more

Texas’ Hailstorm Bill—Three Takeaways for Policyholders

by K&L Gates LLP on

On September 1, 2017, Senate Bill 10 / House Bill 1774 (the “Hailstorm Bill”) goes into effect. Proponents of the Hailstorm Bill will likely argue that the bill does not represent a significant regression of policyholder...more

As Trumpcare founders, GOP offers harsh paths for government on health

The Republicans haven’t waved a white flag—yet. They may never formally surrender. But the GOP’s seven-year, take-no-prisoners campaign to repeal and replace the Affordable Care Act, aka Obamacare, has foundered. For good?...more

Show-Me State Gets Ready for Regulation Review and Rewrite

by Dentons on

The Missouri Department of Insurance, Financial Institutions and Professional Registration ("DIFP") has announced a comprehensive review of its rules in accordance with Governor Eric Greitens’ Executive Order 17-03....more

Bad Faith: District Court Remands Case Involving In-house Adjuster

by Nexsen Pruet, PLLC on

Recently, the United States District Court in South Carolina closed the door on removal of insurance bad faith actions where the in-house, non-diverse, claims adjuster is a co-defendant. In Aung v. GEICO, C.A. No.:...more

Bienvenidos a Colombia: A Friendly Market for Foreign Reinsurers

by Zelle LLP on

By comparison to other jurisdictions, international reinsurers have easy access to the Colombian market. While the access to underwriting risks is not as limiting, it is not boundless. Colombia has delineated requirements...more

Mf Global Holdings Reinsurer’s $15 Million Bond Struck By Bankruptcy Court And Leave To Appeal Rejected By New York Federal Court

by Carlton Fields on

Two courts in New York recently issued decisions concerning Allied World’s ongoing coverage dispute with MF Global Holdings Ltd. over the former’s bankruptcy. As previously reported on this blog, the Bankruptcy Court for the...more

Key Regulatory Topics: Weekly Update - 14 July 2017 – 20 July 2017

by Allen & Overy LLP on

BREXIT - CRDV IV – EBA final draft RTS and ITS on authorisation of credit institutions - On 14 July, the EBA published a report setting out the following final draft technical standards: (i) Final draft RTS on the...more

Keep Viking Pump in Your Long-Tail Claim Toolbox

“Long-tail” claims involve personal injury or property damage from alleged exposure to injury-causing products, such as asbestos or PFCs, over a number of years and multiple policy periods. Courts in various jurisdictions use...more

Renewal Notices Must Warn of Major Changes in Coverage

by Nossaman LLP on

California Insurance Code §678 provides as to personal lines policies (such as homeowners, auto or personal liability): “(a) At least 45 days prior to policy expiration, an insurer shall deliver to the named insured…(1) an...more

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