The named plaintiff in Soseeah v. Sentry Insurance had a Sentry auto policy. She declined UM/UIM coverage when she initially purchased her policy, and renewed annually thereafter. In 2010, the New Mexico Supreme Court held,...more
The Green Earth Wellness Center operates a retail medical marijuana business and adjacent growing facility in Colorado Springs, Colorado. In 2012, it purchased commercial insurance from Atain Specialty Insurance Company....more
4/20/2016
/ Bad Faith ,
Breach of Contract ,
Commercial General Liability Policies ,
Controlled Substances ,
Decriminalization of Marijuana ,
Insurance Claims ,
Insurance Industry ,
Marijuana ,
Marijuana Related Businesses ,
Medical Marijuana ,
Wildfires
IN THE SPOTLIGHT -
- California Passes Life and Annuity Electronic Transactions Law
LIFE INSURANCE -
- Under a Spotlight, "Shadow Insurance" Lawsuit Fails Scrutiny
- NAIC Evaluates Insurer’s Use of Variable...more
1/11/2016
/ 401k ,
Administrative Proceedings ,
Big Data ,
Bitcoin ,
BSA/AML ,
E-Commerce ,
Medical Devices ,
Securities and Exchange Commission (SEC) ,
STOLI ,
Takedown Notices ,
Variable Annuities
Virginia’s Supreme Court recently addressed an issue of statutory interpretation that affects whether or under what circumstances a contractual suit limitation provision in an insurance policy may be tolled. In Allstate Prop....more
Both the number of cases under the Telephone Consumer Protection Act (TCPA) and the types of practices that those cases challenge have mushroomed within the last several years. Yet a dedicated form of insurance against TCPA...more
As we reported in this space late last year, the U.S. Supreme Court’s decision in AT&T Mobility LLC v. Concepcion, 131 S.Ct. 1740, 1745 (2011), tilted the scales toward federal power in the field of arbitration, preempting...more
10/19/2015
/ Arbitration ,
Arbitration Agreements ,
AT&T Mobility ,
AT&T Mobility v Concepcion ,
Bad Faith ,
Employee Retirement Income Security Act (ERISA) ,
Federal Arbitration Act ,
Insurance Industry ,
Insurance Litigation ,
Insurance Regulations ,
McCarran-Ferguson Act ,
Preemption ,
SCOTUS
In late June, the New York Court of Appeals affirmed a trial court ruling that there was no coverage for a health insurance company policyholder, under a “Computer Systems Fraud” rider issued by its insurer, for an underlying...more
10/9/2015
/ Appeals ,
Commercial Insurance Policies ,
Cyber Crimes ,
Cyber Insurance ,
Cybersecurity ,
Data Security ,
Fraud ,
Fraudulent Wire Transfers ,
Hackers ,
Health Insurance ,
Insurance Industry ,
Medicare Advantage ,
National Union ,
Oil & Gas ,
Phishing Scams ,
Popular
In This Issue:
IN THE SPOTLIGHT -
- Your Data Breach Collided With My Personal Injury Coverage
LIFE INSURANCE -
- Phantom Injury Dooms “Shadow Insurance” Case
- Latest NAIC Cybersecurity News...more
10/8/2015
/ Administrative Law Judge (ALJ) ,
AIG ,
Auto Body Shop ,
Bailout ,
Banking Sector ,
Banks ,
Big Data ,
Breach Notification Rule ,
Class Action ,
Compliance ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
CT Supreme Court ,
Cyber Threats ,
Cybersecurity ,
Data Breach ,
Data Security ,
Department of Labor (DOL) ,
Derivative Suit ,
Disclosure Requirements ,
Disparate Impact ,
EB-5 ,
Fair Housing Act (FHA) ,
FFIEC ,
Fiduciary Duty ,
Financial Institutions ,
Foreclosure ,
Healthcare ,
Insurance Industry ,
King v Burwell ,
Life Insurance ,
Mortgage Servicers ,
Mutual Funds ,
NAIC ,
Online Advertisements ,
Ransomware ,
Reassigned Phone Numbers ,
Regulation A ,
RI Supreme Court ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Standing ,
TCPA ,
Telecommunications ,
Treble Damages ,
Whistleblowers
Editors at Wired magazine recently engaged in a year-long project to develop a means to hack the onboard computer of a Jeep, and override the driver’s control of several critical vehicle functions. According to a disturbing...more
Plaintiff, Technical Security Integration, Inc., a Washington company, sold certain security and surveillance equipment and services. It hired Corey Tharp as a sales associate in Oregon, to tap his connections to that state’s...more
9/30/2015
/ Arbitration ,
Arbitration Agreements ,
Casinos ,
Commercial Arbitration ,
Commercial General Liability Policies ,
Denial of Insurance Coverage ,
Gaming ,
Insurance Industry ,
Jurisdiction ,
Motion to Compel ,
Security ,
Surveillance
In This Issue:
- IN THE SPOTLIGHT
• Risky Business: Common Cyber Security Risks, Expensive Consequences
- LIFE INSURANCE
• Ninth Circuit Finds Bonus Indexed Annuity Delivers Exactly...more
6/26/2015
/ Accounting Fraud ,
Annuities ,
Bad Faith ,
Broker-Dealer ,
Captive Insurance Company ,
Consumer Financial Contracts ,
Covered Business Method Patents ,
Cybersecurity ,
Debt Collection ,
Disability Benefits ,
Drones ,
Employee Retirement Income Security Act (ERISA) ,
Fair Lending ,
FCC ,
Fiduciary Duty ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Healthcare ,
Insurance Litigation ,
Life Insurance ,
Mandatory Arbitration Clauses ,
Patents ,
RICO ,
SAR ,
Securities and Exchange Commission (SEC) ,
Telemedicine ,
Unmanned Aircraft Systems ,
Variable Annuities ,
Virtual Currency
It’s a familiar pattern. First, new risks inspire legislation and regulations that impose new penalties. Next, insurers and policyholders fight over whether the new liabilities are covered under traditional liability...more
6/22/2015
/ Corporate Counsel ,
Cyber Insurance ,
Cybersecurity ,
D&O Insurance ,
Data Breach ,
Data Protection ,
Daubert Standards ,
Financial Institutions ,
Hackers ,
IBM ,
Information Security ,
Insurance Industry ,
Liability Insurance ,
Software ,
Sony ,
Travelers Property Casualty Co. ,
Visa Inc ,
Young Lawyers
The NAIC’s Center for Insurance Policy and Research (CIPR) released a white paper analyzing the future of "telematics" in premium rate-making by auto insurers.
Telematics allow for the measurement of actual driving...more
The NAIC’s Center for Insurance Policy and Research (CIPR) released a white paper in March 2015 providing an excellent overview of the brave new world of automobile “telematics” data and their use in premium rate-making by...more
Spurred by the prescient reporting found in this space (and, just maybe, by the Anthem data breach, which occurred a week later), insurance regulators have recently engaged in a flurry of regulatory activity relating to cyber...more
Even at Sony, cyber security was a hot topic before Kim Jong-un took an interest in Seth Rogen’s oeuvre. In 2011, hackers gained access to the personal and financial information Sony had collected on more than 100 million...more
In This Issue:
- IN THE SPOTLIGHT
..Crisis Management: Five Steps to Take Before Providing That Comment
- LIFE INSURANCE
..Third Circuit Limits ERISA Fiduciary Liability to those with Ultimate...more
1/16/2015
/ Automotive Loans ,
CFTC ,
Class Action ,
Consumer Complaint System ,
Data Breach ,
Divorce ,
Driverless Cars ,
FCC ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Healthcare ,
Insurance Industry ,
Life Insurance ,
Money Market Funds ,
Mortgages ,
NAIC ,
Private Equity Funds ,
STOLI ,
Unsolicited Faxes
A New York statute provides that liability insurers may not deny claims on grounds of late notice, unless they can show they were prejudiced by the delay. The statute applies to policies “issued or delivered” in New York. In...more
Earlier this month, the U.S. Court of Appeals for the Tenth Circuit held that Texas law allows an indemnity agreement to insulate a party from the consequences of its own, allegedly negligent conduct, but only if that feature...more
In Milan Express Co., Inc. v. Applied Underwriters Captive Risk Assur. Co., Inc., No. 14-5193 (6th Cir. Oct. 24, 2014), the Sixth Circuit Court of Appeals vacated the district court’s order granting plaintiff’s motion to stop...more
In First State Ins. Co. v. Nationwide Mutual Ins. Co., No. 13-cv-11322-IT (U.S.D.C. D. Mass. Oct. 21, 2014), a petition for an order to confirm a final arbitration award and entry of judgment was denied. The court determined...more
The Plaintiff, Pine Top Receivables of Illinois, LLC brought an action in Illinois federal court against Banco de Seguros del Estado, an entity wholly owned by Uruguay. Pine Top claimed that Banco de Seguros owed Pine Top...more
In a bout before the U.S. Court of Appeals for the Seventh Circuit, two heavyweight federal statutes squared off, with coverage for hundreds of long-tail, asbestos-related personal injury lawsuits on the line. In one corner:...more
New Jersey’s Appellate Division recently affirmed each of several challenged rulings rendered in a long-running coverage dispute between plaintiff IMO Industries and its many historical insurers arising from asbestos...more
In a unanimous panel decision, the U.S. Court of Appeals for the First Circuit reversed a trial court’s ruling that the defendant, Unum Life Insurance Company of America (Unum), had breached fiduciary duties under the...more