More than 25 years have elapsed since the SEC adopted Exchange Act Rule 17a-4(f) governing electronic recordkeeping by broker-dealers. In an effort to update the rule to reflect “technology neutral” concepts, the SEC adopted...more
County of Suffolk v. Lexington Ins. Co., Case Number 604661-2017, Supreme Court of the State of New York, Suffolk County -
Under New York law, the requirement of a fortuitous loss is a necessary element for coverage to...more
4/17/2018
/ Breach of Contract ,
Covenant of Good Faith and Fair Dealing ,
Denial of Insurance Coverage ,
Duty to Defend ,
E&O Insurance ,
Energy Sector ,
Insurance Industry ,
Insurance Litigation ,
Justifiable Reliance ,
Leases ,
NY Supreme Court ,
Parking Lots ,
Promissory Estoppel ,
Solar Panels ,
State and Local Government ,
State Contractors ,
Wrongful Acts
Because Hurricane Harvey claims may be taking you and your colleagues to different states, we thought it might be helpful to bear in mind the claims adjusting standards and regulations in those states that will likely be...more
A federal court in Georgia recently granted the plaintiffs-cedents’ motion for leave to conduct certain expedited discovery from their reinsurer, holding that the potential prejudice to the cedents if discovery is not allowed...more
Freestone Insurance Company is a Delaware-domiciled insurer that has been placed in liquidation. U.S. Bank National Association served as the trustee under a reinsurance trust agreement (the “Trust Agreement”) between...more
The Indiana Department of Environmental Management and the Environmental Protection Agency brought certain enforcement actions against Hartford Iron & Metal, Inc. to remediate alleged environmental damage at a scrapyard run...more
Our prior discussion of this case, and relevant background, can be found here. In 2012, Pine Top Receivables of Illinois, LLC (“PTRIL”) brought an action against Banco de Seguros del Estado (“Banco”) to recover sums...more
Plaintiffs Capstone Associated Services, Ltd. And Capstone Associated Services (Wyoming), Limited Partnership (collectively, “Capstone”) brought suit against various defendants concerning the use of and rights to certain...more
R&Q Reinsurance Company issued a facultative reinsurance certificate to St. Paul Fire & Marine Insurance Company, which reinsured a policy issued by St. Paul to Walter E. Campbell, Co. The broker who placed the certificate...more
In a short, unanimous opinion, the New York Appellate Division, First Department, affirmed a trial court’s ruling that genuine issues of fact precluded it from granting summary judgment to a reinsurer or the plaintiff-cedents...more
An Illinois federal court recently stayed an insurer’s petition to compel arbitration of a dispute with its policyholder, finding that abstention in favor of an earlier-filed suit involving the parties was appropriate under...more