News & Analysis as of

Insurance Industry

The Uncertainties Of Prognostications Of The Impact Of Hurricanes Harvey And Irma On Catastrophe Bonds

by Carlton Fields on

We have rarely provided our opinions or market commentaries in our Reinsurance Focus posts, preferring instead to provide our readers hopefully balanced analyses of court opinions, legislation, and regulations affecting the...more

Kent Sullivan Named New Texas Insurance Commissioner

by Locke Lord LLP on

On September 21, 2017, Texas Governor Greg Abbott announced that Kent Sullivan will be the next Texas Insurance Commissioner. Sullivan previously served as First Assistant Attorney General when Abbott served as Texas...more

Key Regulatory Topics: Weekly Update - 15 September 2017 – 21 September 2017

by Allen & Overy LLP on

CMA issues statement on investment consultancy market investigation - On 21 September, the CMA published its issues statement to set out the scope of the market investigation into the supply and acquisition of investment...more

Insurance Broker Series: Gardner Jones, ABD Insurance and Financial Services

Farella’s Insurance Recovery Group lawyers regularly collaborate with and learn from different players and functions within the insurance industry. To provide more value to our readers, we have reached out to a series of...more

Maryland’s New Enhanced Underinsured Motorist Coverage Law: How it will affect consumers, producers and insurance companies

by Pessin Katz Law, P.A. on

In 1975, Maryland, recognizing the importance of protecting victims of uninsured or underinsured motorists, began requiring that every private automobile insurance policy issued, sold or delivered in Maryland contain...more

The Rule of Sevens: Evaluating Claims Involving a Child

As subrogation professionals, we may be tasked with evaluating property loss claims where a child caused or contributed to the property damage. For example, is a child playing with matches or a lighter liable for a fire...more

Hurricane Irma – Commercial Property Damage and Business Interruption Insurance Checklist

by McGuireWoods LLP on

Hurricane Irma was one of the most devastating storms in United States history, with sustained winds of over 190 miles per hour. Insurance industry experts have estimated the insured damages arising from this storm may reach...more

Hurricane Maria Barrels Towards Puerto Rico

by Locke Lord LLP on

Hurricane Maria is set to strike Puerto Rico today, with forecast wind speeds of more than 150 miles per hour. Maria already struck the Caribbean island of Dominica as a category 5 storm, with sustained winds of 160 miles per...more

Washington Bad Faith Law At A Glance

by Sedgwick LLP on

In all insurance matters, all persons owe a duty of good faith, to abstain from deception, to practice honesty and equity, and to preserve inviolate the integrity of insurance. RCW 48.01.030; Appendix A. A cause of action...more

Ruling Elevates Conflicts Considerations in Insurance/Tripartite Relationship Cases - After Washington Supreme Court Decision,...

by Holland & Knight LLP on

• Relationships between insurer, insured and insurer-appointed defense counsel – also known as the "tripartite relationship" – have long been recognized as a potential source of conflicts of interest. By a 5-4 majority in...more

Lender-Affiliated Captive Reinsurer Obtains Dismissal Of Mortgage Insurance Lawsuit Brought By Illinois Director Of Insurance

by Carlton Fields on

The suit arose out of an arrangement where lenders would refer borrowers to (now-defunct) Triad Guaranty Insurance Company (Triad) to obtain private mortgage insurance. The lender-affiliated captive insurance company would...more

More “Additional Insured” heartache

by Butler Snow LLP on

We’ve chronicled some of the ways in which an “Additional Insured” can be disappointed. The most recent is from Pennsylvania, where the United States District Court Judge agreed with the Magistrate that the Additional...more

Hurricane Irma Damage — Stress and hard work are in front of us

We are all tired of hearing about Hurricane Irma, but I am afraid we have only just begun. I worked for the insurance industry, adjusting a variety of claims, for over 16 years and handled thousands of property damage...more

Business Risk Doctrine No Talisman in CGL Coverage Dispute

by Reed Smith on

In a recent decision, the California Court of Appeal demonstrated that it continues to apply rules of insurance policy interpretation that are favorable to policyholders. Rejecting an insurer’s strained readings of its policy...more

Federal Judge Rejects Insurer’s Effort to Add Materials To Claims File on Eve of Trial

A federal judge in Arizona refused an insurer’s effort eight days before trial to supplement the underlying claim file in a bad faith litigation. The insurer sought to add approximately 60 pages of documents from the...more

Real Property & Title Insurance Update: Weeks Ending September 8 & 15, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Summary judgment: trial court erred by denying borrower’s motion to amend answer and defenses, and therefore erred in entering summary judgment in favor of lender. Reyes v BAC Home Loans Servicing...more

Earthquakes & Hurricanes in Mexico (Any End in Sight?): Tips for International Insurers

by Zelle LLP on

A powerful 8.1 magnitude earthquake struck southern Mexico late Thursday, September 7, 2017. According to the U.S. Geological Survey, the epicenter of the earthquake was in the Pacific Ocean off the coast of the state of...more

Maria – Re-Post of Puerto Rico Claims Checklist

by Zelle LLP on

With the Imminent Arrival of Hurricane Maria in Puerto Rico, we are re-posting our claims checklist for Puerto Rico - Insurers Should Keep in Mind the Following Claim Handling Requirements from the Puerto Rico Insurance...more

Maria - Concurrent Causation in Puerto Rico

by Zelle LLP on

While Puerto Rico was spared a direct hit from Hurricane Irma, it now appears it will face the full brunt of Hurricane Maria. Maria is projected to strike Puerto Rico as a Category 4 Hurricane. Many of the same concurrent...more

Losses Caused by Hurricanes: Are You Covered?

by K&L Gates LLP on

This hurricane season represents the first time in the history of record keeping that two Category 4 or higher hurricanes, Harvey and Irma, have struck the U.S. mainland in the same year. Within a month, Hurricanes Harvey and...more

Mind the Gap! Hurricanes may have significant impact on Gap coverage

by Locke Lord LLP on

Some estimates peg the number of cars flooded by Hurricane Harvey at more than a half million. So too, the number of flooded cars following Irma will be legion. This significant loss will likely lead to a significant...more

After the Storm: Issues in the Construction Process

We previously discussed several post-storm employment issues to be mindful of, but what about important considerations for the rebuilding process? Once floodwaters have receded, power has returned and cleanup has begun, the...more

All that Glimmers is Not [Insurance Agency] Gold

by Nexsen Pruet, PLLC on

Diversity jurisdiction requires complete diversity among plaintiffs and defendants. While it is difficult for a defendant to remove a case with a nondiverse defendant, removal can be accomplished through the doctrine of...more

Seventh Circuit Affirms Dismissal Of Post-Liquidation Reinsurance Claim As Time-Barred

by Carlton Fields on

We previously posted on the trial court’s ruling addressing the statute of limitations in this case on June 23, 2016. By way of background, the underlying contract between the insurer and the reinsurer required the insurer to...more

Despite No Allegations of Bad Faith or Tortious Conduct, Liberty Mutual Owes Millions for Breaching the Duty to Defend

by Carlton Fields on

In Hyland v. Liberty Mutual Fire Ins. Co., No. 1:15-cv-01264-JES-JEH, 2017 WL 3388161 (C.D. Ill. Aug. 7, 2017), the U.S. District Court for the Central District of Illinois granted plaintiff’s motion for summary judgment for...more

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