A recent Minnesota coverage decision provides guideposts for a commercial policyholder’s proper handling of an insurance claim as well as a cautionary tale regarding an excess insurer’s attempt to readjudicate liability in a...more
Insurers’ exploration of distributed ledger technology (DLT), commonly referred to as blockchain, continues to expand. Last month, AIG announced a partnership with IBM and Standard Chartered Bank P.L.C. to test a “smart...more
7/28/2017
/ Bitcoin ,
Blockchain ,
Commercial Insurance Policies ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Financial Institutions ,
Innovative Technology ,
Insurance Industry ,
Peer-to-Peer ,
Popular ,
Smart Contracts
Recent court decisions across a variety of industries highlight the importance of submitting accurate and complete insurance applications and renewals. When submitting an insurance application, the applicant should accurately...more
If you weren’t already convinced, this Drive.ai video of a self-driving system demonstrating an extended drive, at night, in rainy conditions, without human intervention, shows how close we may be as a society in which human...more
Recent court decisions across a variety of industries highlight the importance of submitting complete and accurate insurance applications and renewals. When submitting an application for insurance, the applicant should...more
2/8/2017
/ Applications ,
Breach of Contract ,
Commercial Insurance Policies ,
Corporate Counsel ,
Defense Strategies ,
Denial of Insurance Coverage ,
Failure To Disclose ,
Failure to Report ,
Insurance Claims ,
Insurance Litigation ,
Material Misrepresentation ,
Rescission ,
Risk Mitigation ,
Standard of Review
Part of Bradley Arant’s Policyholder Insurance Coverage Team’s six-part Maximize Your Company's Insurance Coverage Webinar Series, the “Understanding CIPs, Builder’s Risk, and Inland Marine Insurance Policies” webinar, led by...more
Insurance policies typically include a cooperation clause, which requires the insured to cooperate with the insurer in the defense of a covered claim. Insurers routinely use this clause as a sword against their insureds by...more
7/27/2015
/ Babcock & Wilcox Construction ,
Bad Faith ,
Class Action ,
Contract Terms ,
Duty to Defend ,
Fairness Standard ,
Insurance Industry ,
Policy Exclusions ,
Policy Limits ,
Reservation of Rights ,
Toxic Exposure
We recently notified you of the FDIC’s Financial Institution Letter 47-2013 , which urges directors and officers of financial institutions to examine their institutions’ directors and officers (D&O) insurance coverage to...more
11/23/2013
/ Board of Directors ,
Civil Monetary Penalty ,
Corporate Counsel ,
Corporate Officers ,
D&O Insurance ,
Directors ,
Duty to Defend ,
FDIC ,
Financial Institutions ,
Indemnification ,
Professional Liability
On October 10, the FDIC issued Financial Institution Letter 47-2013, urging directors and officers (D&O) of financial institutions to examine their institutions’ D&O insurance coverage to ensure adequate protection for...more
In a recent ruling of interest to any company named as a potentially responsible party (“PRP”) at a Superfund site anywhere in the country, the Alabama Supreme Court has followed the majority of state courts and held that a...more
In a recent ruling of interest to any company named as a potentially responsible party (“PRP”) at a Superfund site, the Alabama Supreme Court has held that a PRP letter constitutes a “suit” under a comprehensive general...more