Professional Liability

News & Analysis as of

Court Finds Statutory PIP Demand is "Related Claim" to Later-Filed Class Action Suits

On September 30, the U.S. District Court for the Southern District of Florida found that a pre-suit demand letter under Florida’s Personal Injury Protection (PIP) Statute constituted a “related claim” to a later-filed class...more

Federal court in Florida provides helpful case study in insurance “choice of law” tactics

The Southern District of Florida recently issued an opinion that addresses some rarely discussed nuances of insurance choice of law disputes. Sun Capital Partners, Inc. v. Twin City Fire Ins. Co., No. 12-CV-81397, 2015 WL...more

Accidentally On Purpose: Washington Court Finds Coverage For Contempt Of Court Based On “Misunderstanding”

Professional liability policies cover claims based on the insured’s alleged negligent acts, errors or omissions, and not claims for “sanctions or penalties” for “willful” professional misconduct. But the insurer’s duty to...more

Gatekeeper Liability of Inside Asset Management Attorneys "Appearing" Before the SEC

This article addresses the liability of inside attorneys at asset management companies— mutual fund sponsors, investment advisers, broker-dealers, life insurance companies—as gatekeepers under rules of the US Securities and...more

Corporate Insurance Trends 2015

Over the last 12 months, the insurance industry has seen speculation with respect to litigation funding regulation, resolutions of large class actions and consolidation in the form of acquisitions in the industry. There has...more

Two Key Insurance Considerations For Startups

Startups have numerous and different insurance needs and will face many challenges as new businesses, but by considering whether general liability and key person insurance are appropriate products they will likely be better...more

Playing With Fire: No Liability Coverage For Tax Preparers Who Took Deductions for Illegal Tax Shelters

“Gimme Shelter” is one of the greatest of a lot of great Rolling Stones songs (made greater by Merry Clayton’s gut-wrenching contribution). And, of course, “Gimme Shelter” is a cliché often trotted out in discussions of tax...more

Summary of California Appellate Decisions -August 2015

Insurance; Duty To Defend; Insurance Coverage; Intentional Acts; Sexual Misconduct - Gonzalez v. Fire Insurance Exchange (2015) 234 Cal.App.4th 1220, 184 Cal.Rptr.3d 394 (WL 960927) - Facts: This is an...more

EMV Liability Shift Update – What Liability Actually Shifts?

With the October 1, 2015 liability shift deadline looming, merchants who have not yet made the change continue to evaluate the cost of accepting EMV cards versus the liability that will shift from the issuer to the merchant...more

OFAC Announces Settlement Agreement with Insurance Company

On August 6, OFAC announced a $271,815 settlement with a New York-based insurance company with an overall focus on marine insurance and related lines of business, professional liability insurance, and commercial umbrella and...more

Insurers Take Notice: Don’t Become a Casualty of Trade Sanctions Violations!

The U.S. Department of Commerce’s Office of Foreign Assets Control (OFAC) announced that Navigators Insurance Company, which is headquartered in New York and specializes in marine insurance and related lines of business,...more

Third Circuit Finds Insured v. Insured Exclusion Precludes Recovery of Defense Costs

Many corporate executives may be under the impression that the defense costs they incur when sued for actions taken in their role as officers of the company would be covered by a “Management Protection” insurance policy. The...more

ABA Resolution 105 on Punitive Damages Is Dead for Now

On the eve of the ABA's Annual Meeting next week, the ABA's Standing Committee on Medical Professional Liability announced its withdrawal of proposed Resolution 105 from consideration by the ABA House of Delegates. The...more

The Perils of an Attorney Joining a Corporate Board

From time to time, attorneys are asked to serve as corporate directors or officers. Watch out—there may be some serious perils involved for the attorney and his or her law firm....more

“The Donald” Trumps Condo Buyers by Avoiding Trade-mark Licensor Liability

United States presidential candidate Donald Trump avoided liability for alleged misrepresentations of the attributes of purchased hotel condominium units by a developer that is licensed by one of Mr. Trump’s corporate...more

Perspectives on Insurance Recovery

Welcome to the latest edition of Pillsbury’s Perspectives on Insurance Recovery. As this 2015 edition of Perspectives demonstrates, our team is working on the most challenging issues—from cyber-insurance and complex claims...more

What Message Is Being Sent to CCOs By SEC Commissioners?

The role of the chief compliance officer is the talk of the Securities and Exchange Commission these days – or at least some of its Commissioners. Those who are speaking for the record agree that the role of the CCO is...more

Update on Opposition to ABA Hijinks

Last month, we described the proposal by the American Bar Association’s Standing Committee on Medical Professional Liability concerning legislation on “defective medical products” and punitive damages for “patient harm...more

PCAOB Requests Supplemental Comment on Rules to Require Disclosure of Engagement Partners and Audit Participants

At an open meeting on June 30, 2015, the Public Company Accounting Oversight Board unanimously voted to publish a supplemental request for comment on potential rules to require the disclosure of certain audit participants on...more

Policyholder Warning: What One Provision Giveth (Defense Costs), Another Provision May Taketh Away

Professional liability insurance policyholders often breathe a sigh of relief when their insurer begins funding the costs of defending against a civil claim or government investigation. That is one of the reasons they bought...more

Variables Affecting Medical PL Settlement Values [Video]

From the 2015 PLUS Medical PL Symposium session “Batch Claims: What are the ‘Three P’s?’,” Scott Crockett, Esq. of Wagstaff & Cartmell discusses the variables that impact claim settlement, including “fear of” claims....more

New York Court Holds Fraudulent Act Exclusion Applicable in LPL Policy

In its recent decision in Lewis & Stanzione v. St. Paul Fire & Marine Ins. Co., 2015 U.S. Dist. LEXIS 78259 (N.D.N.Y. June 17, 2015), the United States District Court for the Northern District of New York had occasion to...more

California Decision Expands Actuary’s Potential Liability Based on Aiding and Abetting Theory

The recently published California decision in Nasrawi v. Buck Consultants LLC, issued by the Court of Appeal, Sixth District, has the potential to expand an actuarial firm’s liability well beyond its current limits under...more

ABA Hijinks – Defeat the Resolution Supporting Unlimited Punitive Damages

Most of us are members of the American Bar Association. Some of us are more active than others. At one extreme, Bexis has been in what the ABA calls “leadership,” as editor of the Mass Torts Newsletter, for some 15 years. ...more

Prior & Pending Litigation [Video]

From the 2015 PLUS Professional Risk Symposium session “Navigating Prior & Pending and Other Coverage Issues,” David F. Cutter, Esq. (Troutman Sanders LLP) looks at three analytical issues to consider when facing prior and...more

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