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General Business Insurance

Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.

Lyfting TNCs and On-Demand/Sharing Economy Companies Out of the Misclassification Abyss By Mandating Workplace Insurance in Driver...

by Benesch on

Unlike traditional motor carriers that transport cargo, many Transportation Networking Companies (TNCs), e.g., Uber and Lyft, and similar on-demand/sharing economy companies (On-Demand Companies), e.g., GrubHub (a food...more

Iowa And Virginia Insurance Regulators Adopt The NAIC’s Term Model Rules Governing Term And Universal Life Insurance Reserve...

by Carlton Fields on

Insurance regulators in Iowa and Virginia have adopted the NAIC’s Model Rules regulating term and universal life insurance reserve financing. The stated purpose of the rules is “to establish uniform, national standards...more

Less Than Two Weeks Before Trial, District Court Judge In Utica V. Fireman’s Fund Rules On Motions In Limine

by Carlton Fields on

This case concerns an action filed by Utica Mutual Insurance Company (Utica) against its reinsurer, Fireman’s Fund Insurance Company (FFIC) seeking to enforce certain reinsurance contracts against FFIC with respect to...more

First Look - Fall 2017: Issues and Developments in Insurance Law

by Steptoe & Johnson PLLC on

“Insureds may wish, or be contractually obligated, to extend their insurance coverage to other individuals or entities,” commonly referred to as additional insureds. In fact, in certain industries, additional insured...more

New insurance linked securities regime comes into force in the UK

by Hogan Lovells on

On Friday 8 December 2017, the Risk Transformation Regulations 2017 and the Risk Transformation (Tax) Regulations 2017 (the ‘Regulations’) will come in to effect bringing to fruition the Government’s plans to position the UK...more

UK: Corporate Insurance Newsletter – November 2017

by Hogan Lovells on

The Hogan Lovells’ Corporate Insurance Newsletter for November has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. Please...more

District Court Discharges Phoenix Fire And Marine Insurance Company Conservator

by Carlton Fields on

After 14 years, the Commissioner of Insurance of the Virgin Islands has been discharged as conservator of Phoenix Fire and Marine Insurance Company (“Phoenix”). The Commissioner reported that: $15,936,228.13 had been paid to...more

Florida Court Rejects Property Insurer’s Effort To Limit Assignment Of Benefits

by Carlton Fields on

An assignment of benefits (AOB) is a legal tool that allows a third party to be paid for services performed for an insured property owner who would normally be reimbursed by the insurance company directly after making a...more

The DOL Fiduciary Rule: Charting A Course, Avoiding Collisions & Potential Litigation Q&A #4 - Q&As on Annuity Sales Practices,...

by Carlton Fields on

For the past several months, we have written about potential litigation issues under the “revised temporary” DOL Rule involving the offer and sale of annuities in the IRA market. This article continues that discussion. Recall...more

Compliance With New York’s Cybersecurity Regulation 23 NYCRR Part 500

On March 1, 2017, New York’s Cybersecurity Regulation (23 NYCRR Part 500) became effective. The regulation is the first of its kind in the nation and requires certain companies, including banks, insurance companies and other...more

A TCPA Slam Dunk in the Ninth Circuit?

by LeClairRyan on

The fight is not over yet, but the insurance industry just had a significant victory in the United States Court of Appeals for the Ninth Circuit. The scenario is likely familiar to most. You’re invited to send a text and...more

Off the Reservation (of Rights): South Carolina Speaks on CGL Insurer Notification Requirements

Lawsuits over defective construction are common in South Carolina. So, when a construction company covered by a CGL insurance policy is sued over an alleged construction defect, the insurance company may agree to defend the...more

Wisconsin Adopts New Credit For Reinsurance Rule Based On Certified Reinsurers

by Carlton Fields on

On November 7, 2017, the Commissioner of Insurance for the State of Wisconsin issued an order approving a new rule to be added to Section Ins. Ch. 52, Wis. Adm. Code. The rule is intended to modernize Wisconsin’s credit for...more

Northern District Of Georgia Orders Cedent To Produce Information On Its Payment Of Claims

by Carlton Fields on

Defendant Golden Isles Reinsurance Company, Limited (“Golden Isles”) sought detailed information regarding individual claims Canal Insurance Company (“Canal”) submitted for reimbursement under the parties’ reinsurance...more

Alleged Statutory Violations Precluded Coverage Under Business Liability Policy

by Nexsen Pruet, PLLC on

In a November 2017 decision out of the United States District Court for the Western District of North Carolina, the Court held that an insurer has no duty to defend or indemnify its insured when the policy’s statutory...more

Defining Prompt Notice in Florida Insurance Policies

by Zelle LLP on

Hurricane Irma was both the strongest Cape Verde-type hurricane observed in the Atlantic and the most intense Atlantic hurricane to strike the United States since Katrina and Wilma in 2005. Hurricane Irma was also the first...more

Michigan Publishes Annual Licensing Fees

by Ballard Spahr LLP on

The Michigan Department of Insurance and Financial Services published its annual licensing fees under the Mortgage Loan Originator Licensing Act as follows...more

Finally, a happy Additional Insured!

by Butler Snow LLP on

We have noted, again and again, examples of disappointed Additional Insureds. Today we report that at least one Additional Insured has left the Courthouse smiling. It was, however, to paraphrase Wellington, a near-run...more

Replace, Cancel or Get Burned: Sandy’s Electrical Wiring Lesson for 2017 Hurricane Claims

by Wilson Elser on

Those who have homes or spend time at the “Jersey shore” cannot help but be reminded of Superstorm Sandy during this brutal 2017 hurricane season. Sandy crashed into New Jersey on October 29, 2012, about seven miles north of...more

Court Enforces Exclusion of Products Claims From Intercompany Arbitration Agreement

In State Farm General Insurance Co. v. Watts Regulator Co. (No. B271236, filed 11/30/17), a California appeals court held that a manufacturer could not compel intercompany arbitration of an insurer’s subrogation claim,...more

Trump Administration Issues Guidance on Asset Management and Insurance Regulation

On Oct. 26, 2017, the U.S. Treasury Department (Treasury) released the latest installment in a series of reports on financial regulation required by the president’s Feb. 3 executive order on the financial system....more

Real Property, Financial Services, & Title Insurance Update: Weeks Ending November 17 & 24, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Receiver/Barton Doctrine: individual could not bring negligence action against discharged receiver of commercial property until individual first obtained leave to do so from the court that appointed...more

“Myopic” Ruling Limits Policyholders’ Ability to Recover for Common Law Bad Faith in West Virginia

by Reed Smith on

The Supreme Court of Appeals of West Virginia has made it harder for policyholders to prevail on claims of common law bad faith against insurers in that state. In State of West Virginia ex rel. State Auto Property Insurance...more

Discovery Dispute In Cost Of Insurance Case Considers Relevance, Statutory Privilege, And Adequacy Of Objections

by Carlton Fields on

In a putative class action alleging that a life insurer engaged in an elaborate scheme to pay stockholders huge dividends by shifting its obligations to reinsurers operating in jurisdictions with weak oversight and...more

Don't Miss the Diamonds in the (Aggregate) Rough

Time and time again, property carriers insist on closing high quality subrogation recovery files because they see that their insured has yet to hit the policy aggregate deductible. Policy aggregate deductibles are becoming...more

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