News & Analysis as of

Insurance Industry

California’s Insurance Commissioner Encourages Admitted Carriers to Insure Cannabis Risks

by Wilson Elser on

Members of Wilson Elser’s Cannabis Law practice attended a teleconference led by California Insurance Commissioner Dave Jones with 63 insurance industry stakeholders on May 22, 2017, to discuss insurance requirements set...more

Officer and director checklist: Complying with the global reach of the New York Department of Financial Services Cybersecurity...

by White & Case LLP on

The New York State Department of Financial Services (NYDFS) issued Cybersecurity Requirements for Financial Services Companies (the "Cybersecurity Regulation") effective March 1, 2017. The regulation imposes tight compliance...more

New York DFS proposes to restrict auto insurers' use of education and occupation as rating factors

by Dentons on

The New York Department of Financial Services (DFS) has proposed a regulation restricting the use of education and occupation criteria by private passenger auto insurers in setting rates. The proposed DFS regulation...more

The D.C. Court of Appeals Just Scrapped the Drone Registry and May Have Also Turned Homeowners Insurers into Aviation Insurers

Model-aircraft hobbyist John Taylor didn’t want to register his model aircraft with the FAA pursuant to the newly created drone registry. So he took on the FAA, challenging new regulations aimed at unmanned aircraft...more

Torts & Insurance Cases from the 4th Circuit Court of Appeals

by Nexsen Pruet, PLLC on

Each month, Nexsen Pruet attorney Marc Manos, a member of the SC Bar Torts and Insurance Practice Section Council, sheds light on a few recent cases from the Fourth Circuit Court of Appeals, focused in the area of Torts &...more

Michigan Supreme Court Holds That an Insurer’s Untimely Payment of Underinsured Motorist Benefits is Subject To Penalty Interest...

by Dickinson Wright on

The Michigan Uniform Trade Practices Act (UTPA) provides for 12% penalty interest on certain no-fault insurance claims that are not timely paid by the insurer. For “third party tort claimants,” penalty interest only applies...more

Testing the Limits II – Cyber Coverage Litigation Keeps on Rolling

by Locke Lord LLP on

As cyber risks continue to evolve, resulting insurance claims continue to implicate a variety of types of policies. Although many claims are addressed without lawsuits being filed, some are not. And while not all coverage...more

Litigation Funding and Its Implications for US and UK Insurers

by Sedgwick LLP on

Litigation funding is growing rapidly with the emergence of new funds and wealthy individuals willing to back cases in an ever-expanding number of jurisdictions, including in the US and the UK. It is enabling claims to be...more

Top 10 Things Defense Lawyers Need to Know About Lack of Good Faith Claims

by Pessin Katz Law, P.A. on

By now, every Maryland defense lawyer knows that there is a cause of action that can be leveled against insurers for lack of good faith. Most even know that this cause of action is based on Md. Code Ann., Cts. & Jud. Proc. §...more

Eleventh Circuit Deems Voluntary Dismissal of a Coverage Action Sufficient to Award Attorneys’ Fees to a Policyholder as the...

by Carlton Fields on

In a recent unpublished opinion, the Eleventh Circuit issued a decision that should serve as a warning to insurers to be sure to resolve all issues before dismissing a coverage action, particularly when involved in the...more

White House wants to inflict pain on the poor to force Democrats to bargain on health care

The Trump Administration raised major weekend alarms among some of the biggest players in health care with the president’s reported willingness to try a risky gambit by cutting off crucial federal subsidies to help millions...more

The Polish regulator’s position on insurance companies publishing their standard contracts on their websites

by Hogan Lovells on

Based on the new regulation in the Polish insurance market that entered into force on 1 January 2016, the general terms and conditions of insurance (“GTC“) as well as other standard contracts must be published by insurers on...more

UM, Wait a second! – Rekindled Exposure for Bad Faith Uninsured Motorist Claims in South Carolina

by Nexsen Pruet, PLLC on

Recently, the United States District Court held a plaintiff can maintain a claim for bad faith handling of Uninsured Motorists Coverage (“UM”) in the District of South Carolina. In Tucker v. Peerless Insurance Company, the...more

Texas Legislature Votes to Restrict Policyholders’ Rights

by Reed Smith on

Texas lawmakers are now on the fast track to restrict policyholders’ rights when their insurance companies fail to pay property insurance claims arising out of weather events, such as storms involving heavy winds and hail....more

Maximizing the Value of Your R&W Insurance Policy

by McGuireWoods LLP on

The global M&A boom has spurred an increase in the use of representation and warranty insurance (“RWI”), which is designed to protect the insured party against breaches of a sellers’ representations and warranties in a...more

Insurance Takeaways From Texas’ New Hailstorm Bill

by Zelle LLP on

On Feb. 1, 2017, the Texas Department of Insurance published the results of its presentation to the Texas Legislature titled: “Interim Charges: The Cost of Weather-Related Property Claims and Related Litigation.” Notably, the...more

FAA Drone/Human Collision Analysis Study Helpful for Drone Insurance

by Rumberger Kirk & Caldwell on

The FAA recently published the results of a study that was designed to evaluate the risks of serious injury to a pedestrian resulting from a drone collision. ...more

Federal Court in Alaska Holds Insurer Liable Under E&O Policy to Indemnify and Defend Construction Manager for Claims by...

by Pepper Hamilton LLP on

KICC –Alcan Gen. v. Crum & Forster Specialty Ins. Co., 2017 U.S. Dist. LEXIS 37560 (March 16, 2017) - A Contractor/Construction Manager, KICC-Alcan General (“KICC”), entered into a subcontract with an MEP subcontractor,...more

Short-Term Care Insurance: An Alternative to the Long-Term Care Variety

A little-known insurance option can be an answer for some people who might need care but are unable to buy long-term care insurance. Short-term care insurance provides coverage for nursing home or home care for one year or...more

Reps & Warranties Insurance Case Highlights the Need for New Expertise and Old-Time Common Sense

by Reed Smith on

A rare lawsuit concerning coverage under a reps & warranties policy presents two issues of interest to M&A lawyers: If the insured under a reps & warranties insurance policy fails to obtain the insurer’s consent to a...more

Update On Liquidation Of The Home Insurance Company

by Carlton Fields on

The New Hampshire liquidation court approved the commutation, settlement, and release agreement between The Home Insurance Company (liquidating) and OIC Run-Off Limited (formerly known as The Orion Insurance Company) (OIC)...more

UK: FCA consults on its approach to reviewing Part VII transfers of insurance business

by Hogan Lovells on

On Monday 15 May 2017 the Financial Conduct Authority (FCA) published a consultation paper on new proposed guidance on its approach to reviewing applications to transfer insurance business under Part VII of the Financial...more

Defence & Indemnity - An Analysis of Insurance Case Law and Legislation - April 2017

by Field Law on

I. INSURANCE ISSUES - A. The Alberta Court of Appeal reiterated that policies cover insured perils but not pre-existing deficiencies in the property that are not caused by the peril, but only discovered as a result of...more

English High Court Of Justice Analyzes Standards Governing Fraudulent Inducement Claims In Reinsurance Disputes

by Carlton Fields on

The Court of Appeal of England and Wales approved the judgment of the trial court in a reinsurance dispute between Axa and Arab Insurance Group (Arig) related to certain insured energy construction risks. The trial court had...more

Who Is Winning the Securities Class Action War—Plaintiffs or Defendants? (Part III)

This is the third of a three-part post that analyzes why plaintiffs are winning the securities class action war and what defendants can do about it....more

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Cybersecurity

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