On June 13, 2024, the Louisiana Supreme Court vacated its prior decision deeming the revival provisions of Section 2 of 2021 La. Acts 322 and Section 2 of 2022 La. Acts 386 unconstitutional, finding now that the legislature’s...more
Companies faced with numerous mass tort claims, such as asbestos claims, often seek bankruptcy protection. Reorganization plans may include § 524(g) channeling injunctions in which insurance assets are put into a trust to pay...more
6/7/2024
/ Anti-Fraud Provisions ,
Asbestos ,
Bankruptcy Code ,
Chapter 11 ,
Commercial Bankruptcy ,
Debtors ,
Disclosure Requirements ,
Insurance Industry ,
Oral Argument ,
Reorganizations ,
Reversal ,
SCOTUS ,
Standing ,
Truck Insurance Exchange v Kaiser Gypsum Co Inc
KEY TAKEAWAYS - The N.J. Appellate Division refused to enforce a step-down clause in a personal auto policy based on its conclusion that the insured’s expected UIM coverage was reasonable. A trial court, in granting summary...more
On January 10, 2024, the New York State Court of Appeals – the state’s highest court – heard oral argument on an insurance coverage dispute for plaintiff Consolidated Restaurant Operations’ (CRO) business interruption claim...more
Key Takeaways -
Senate Bill 2-A signed in September by Florida Gov. Ron DeSantis will result in notable changes to the state’s property insurance industry, including the end of “One-Way” attorney fees for policyholder...more
Key Takeaways -
New legislation in New Jersey requires insurers to disclose policy limits in response to a written request from a New Jersey-licensed attorney.
Broader than the existing pre-suit disclosure statute...more
Key Takeaways -
Changes to property insurance and reinsurance signed into law on May 26 create the Reinsurance to Assist Policyholders program (RAP), which is backed by $2 billion and seeks to assist insurance companies...more
Key Takeaways -
New York’s Adult Survivors Act was signed into law on Tuesday, May 24, 2022.
The Adult Survivors Act establishes a one-year window that opens in six months for survivors of sexual offenses who were 18...more