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Insurance Updates

Read Insurance Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

Premises Pollution Liability Policy: Missouri Appellate Court Addresses Insurance Coverage Issue

The Missouri Court of Appeals (Eastern District) addressed in a December 19th opinion a coverage issue involving a Premises Pollution Liability Policy (“ PPL policy”). See Hazelwood Logistics Center, LLC v. Illinois Union...more

Waiving Uninsured Motorist Coverage— No Written Waiver is Required to Provide Uninsured Motorist Coverage Above the Minimum.

Woodland Hills personal injury attorney is an expert on all things “Uninsured and Underinsured” Motorist Law in California. Although Mr. Goldberg never recommends waiving or reducing Uninsured Motorist Coverage, such...more

John Doe Removals to Federal Court – Not so Fast!

by Nexsen Pruet, PLLC on

In a recent decision of Brown v. Doe, 2018 WL 316714, the U.S. District Court for the District of South Carolina remanded a John Doe action to the state court. Briefly, Plaintiff, who was driving her employer’s vehicle, was...more

SEC Committee Advocates for Summary Mutual Fund Shareholder Reports

by Carlton Fields on

On December 7, the Investor Advisory Committee of the Securities and Exchange Commission (SEC) adopted a recommendation that the SEC seriously explore the development of a summary disclosure document for mutual fund companies...more

SEC Exam Staff: “Surprise, We’re Back”

by Carlton Fields on

In August, Kevin Kelcourse, the associate director for examinations at the SEC’s Boston Regional Office, confirmed that his office has been making "surprise" examination visits to registered advisers in the region. ...more

When Innovation Meets Regulation - The Effect of InsurTech on Insurance Rebating Laws

by Carlton Fields on

The rise of InsurTech — which brings technological innovations to the business of insurance — has recently had a significant impact on the insurance industry, including through advancements in cybersecurity tools, the...more

Preparing for New York Regulation 210’s Effective Date

by Carlton Fields on

The Preamble to New York’s Regulation 210 (the "Regulation") contains a March 19, 2018 effective date. However, the Regulation’s scope paragraph supports an interpretation that the Regulation’s requirements apply only when an...more

Western District of Washington Looks to When Claim for Coverage Was First Denied in Dismissing Bad Faith Claim As Untimely

Plaintiff Mary Coppinger was injured in 2010 when her vehicle was rear-ended by Daniel Klein. Both Ms. Coppinger and Mr. Klein were insured through Defendant Allstate. Mr. Klein had a $50,000 policy limit; Ms. Coppinger had...more

2017 – A Record Setting Year

by Zelle LLP on

2017 was a year of records for sure. Most notably, professional eater Joey Chestnut set a new record by eating 55 glazed doughnuts in eight minutes. At a university in Ohio, 972 people set a record by dressing as penguins. ...more

Did Santa Give the Insurance Industry a Lump of Coal or a Diamond in the Rough? The Proposed Suitability and Best Interest...

by Carlton Fields on

As reported in our November 28 client alert, the National Association of Insurance Commissioners’ (NAIC) Annuity Suitability Working Group (Suitability WG) circulated the proposed Suitability and Best Interest Standard of...more

The Ghosts of Christmas Past, Present, and Future Haunt Insurers’ Use of Big Data and Algorithmic Tools

by Carlton Fields on

Watching as legislators, regulators, and policymakers’ consider what changes, if any, are necessary for insurers’ use of big data and algorithmic tools, is like being visited by the Ghosts of Christmas Past, Present, and...more

FASB to Revise Accounting for Tax Act

FASB received unsolicited input from banks and insurance companies and related trade groups on the accounting for what is referred to as the Tax Cuts and Jobs Act. Based on the input, FASB has tentatively decided to revise...more

Flood or Fire: The Montecito Claims

by Selman Breitman LLP on

What is the Efficient Proximate Cause of the Devastating Mudslides in Southern California? At first glance, the destruction in Montecito, California and other areas of Santa Barbara and Ventura Counties on Monday, January...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. ...more

Regulators Continue to Scrutinize Initial Coin Offerings

by Carlton Fields on

As reported in the most recent issue of Expect Focus, the SEC issued an investigative report in July cautioning market participants that distributed ledger (blockchain) technology-based offers and sales of digital "tokens" or...more

New York’s High Court Scales Back Reinsurance Liability Cap

by Carlton Fields on

In Excess Insurance Co. Ltd. v Factory Mutual Insurance Co., 3 NY3d 577 (N.Y. 2004), New York’s high court held that, under a facultative reinsurance agreement, the reinsurer’s liability was limited to a per occurrence cap,...more

Revised California Reinsurance Regulations Allow California Domestics to Cede 100% of Business to Affiliates and Intercompany...

by Locke Lord LLP on

California’s reinsurance regulations (Cal. Code Regs. tit. 10, §§ 2303 – 2303.29) were amended effective the first of this year. The revisions included changes to update the regulations to comport with current law and current...more

IVASS provides instructions to insurance intermediaries for preventing cyber risks

by Hogan Lovells on

IVASS has just published a letter to the market addressed to Italian and EU insurance intermediaries and undertakings addressing the level of awareness of traditional intermediaries about the risks involved in the use of new...more

No “Backsies”: The Enforcement of Forfeiture Clauses Under Florida Law

by Zelle LLP on

Under Florida law, insurance coverage cannot be created by estoppel; however, enforcement of a forfeiture clause may be waived by an insurer’s conduct. Axis Surplus Ins. Co. v. Caribbean Beach Club Association, Inc., 164 So....more

A Policyholder Perspective on the Unique Challenges of a Three-Way Mediation

I recently participated in a negotiation with an insurer who had denied coverage for an underlying errors and omissions claim in the mid-seven figures. The insurer’s counsel and I exchanged stern letters, each explaining why...more

Denial of Reinstatement of Lapsed Life Insurance Policy Affirmed Due to Failure to Satisfy Required Underwriting Standard

by Carlton Fields on

In European Pensions Management Limited v. Columbus Life Insurance Co., a pension benefit plan that had purchased a life insurance policy on the secondary market and then permitted it to lapse for non-payment of premiums sued...more

The Impact of the EU Requirement to ‘Unbundle’ Research Costs

by Carlton Fields on

A recent European Union (EU) directive prohibits certain investment managers from receiving securities research whose cost is "bundled" together with broker-dealers’ costs of effecting securities transactions directed by the...more

The NAIC Says Aloha

by Carlton Fields on

The National Association of Insurance Commissioners held its Fall National Meeting December 2-4 in Hawaii, saying aloha to 2017 and aloha to 2018. Key takeaways include...more

Based on Principles of Fairness, Court Dismisses Putative Class Action RICO Claims Asserted Years After Initiation of Suit

by Carlton Fields on

In Robertson v. SunLife Financial, a federal district court in Louisiana dismissed with prejudice as time-barred an amended putative class action complaint alleging RICO and state racketeering claims related to alleged...more

Asbestos Coverage: A Never Ending Story

by Blank Rome LLP on

In April 1977, a few weeks before I began practicing law, senior claims executives of eighteen liability insurance companies met to discuss the insurance implications of asbestos bodily injury claims....more

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