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Insurance Updates

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

Insurance Topics We Will Be Watching in 2018

On its current course, this year could be both the best and the worst of times for insurance. The US economy continues to enjoy steady growth, stock indices continue to reach new highs and tax reform in the US allows both...more

Spain: Obligation to provide the KID vs lack of obligation to provide the PID

by Hogan Lovells on

The European Union (the ”EU”) packaged retail and insurance-based investment products (PRIIPs) Regulation (the ”PRIIPs Regulation”) is applicable throughout the EU from 1 January 2018. ...more

The North Korea Gap in Your Cyber Insurance

by Newmeyer & Dillion LLP on

North Korea was recently identified as the powerhouse behind the WannaCry ransomware attack that swept across 150 countries and 200,000 computers. Panicked hospitals cancelled thousands of operations, ambulances were...more

Middle District of Florida Denies Motion to Dismiss Statutory Bad Faith Claim Pending Resolution of Coverage Issues

In October 2012, James Lee fell and injured his back when the Real Space Pro 9000 Quantum Chair he was sitting on broke. Mr. Lee filed suit against Raynor Marketing, LTD. and Office Depot. Raynor sold the chair to Office...more

Aircraft Less Lesson Learned: Is Your Aircraft Properly Insured?

by Benesch on

Commercial transactions, particularly those involving aircraft lease agreements and insurance coverage, often involve numerous parties and complex relationships between them. The Eleventh Circuit’s decision in Aviation One of...more

The Department of Labor’s Proposed Association Health Plan Regulation: Who Wins, Who Loses?

In last week’s post we explained the changes made by a newly proposed Department of Labor regulation, the purpose of which is make it easier for small employers to band together to form “association health plans” (“AHPs”). In...more

New York Issues Trade Practice Guidance on the Sale of Wireless Equipment Protection Products

by Locke Lord LLP on

The New York Department of Financial Services (“DFS”), in Circular Letter No. 1 (1/3/18), provides guidance on certain improper trade practices related to the sale of insurance and service contracts covering phones and other...more

Fore! Fourth Circuit Affirms No Coverage for Hole-in-One Payments

As proof that almost anything can be insured, hole-in-one insurance is available on the market. Coverage is granted for payments or awards (cars, cruises, golf trips, cash, etc…) given and can be obtained for the right...more

New Disability Claims Regulations Take Effect for All Plans April 1, 2018

by Snell & Wilmer on

As noted in our previous blog post, The New Disability Claims Regulations: They Don’t Only Apply to Disability Plans, the Department of Labor (“DOL”) issued regulations that revise the ERISA claims procedure regulations for...more

Insurance for Cryptocurrencies: Tips for Maximizing Coverage

by Goodwin on

We share some practical tips and key considerations for cryptocurrency-related insurance issues below. Retain a Good Broker - An obvious starting point is choosing a well-regarded insurance broker with a deep bench of...more

California Supreme Court Upholds SB800 As Exclusive Remedy, Disapproves Liberty Mutual

by Newmeyer & Dillion LLP on

N&D proudly announces that the California Supreme Court has unanimously agreed with our position and has ruled in support of the Right to Repair Act. The Supreme Court has spoken: The Legislature said what it meant, and...more

Chapter 558 Pre-Suit Notice May Trigger an Insurer's Duty to Defend and Indemnify

by Rumberger Kirk & Caldwell on

The Supreme Court of Florida recently issued an opinion in Altman Contractors, Inc. v. Crum & Forster Specialty Ins. Co., No. SC16-1420, 2017 WL 6379535 (Fla. Dec. 14, 2017), which impacts an insurer’s duty to defend and...more

In California, Proposed Legislation To Increase Insureds’ Recoveries From Their Insurance Policies

by Carlton Fields on

After devastating wildfires, California legislators proposed greater wildfire insurance protection, drafting a set of bills. The most important proposed changes are as follows...more

Third Time’s A Charm - Will This Be The Year Of The AOB Reformation?

by Zelle LLP on

The Florida House of Representatives struck another blow against abusive, unequitable, and baseless assignment of benefits (“AOB”) litigation when it voted overwhelmingly in favor of reform by a margin of 82-20 last Friday. ...more

Guarding Against Escrow Fraud

Nancy Jackson Spinks, better known as Nancy Carroll, an attorney and former owner of Millennium Closing Services, LLC (“Millennium Title”) in the Dallas area, was sentenced on Wednesday, January 3rd, to 10 years in prison and...more

New Tax Overhaul and Government Funding Measures: What's in It for Health Care?

by Baker Ober Health Law on

In the week before Christmas, Congress approved and President Trump signed into law the final Republican tax overhaul bill. While primarily focused on individual and business tax cuts and reform, the new tax bill taking...more

Expect Focus - Life Insurance, Volume IV, December 2017

by Carlton Fields on

EXPECTFOCUS is a quarterly review of developments in the insurance and financial services industry, provided on a complimentary basis to clients and friends of Carlton Fields Jorden Burt, P.A. Please see full Newsletter...more

New Tax Law May Reduce Tax Benefit for Cross-Border Affiliated Insurance/Reinsurance Premiums

by Locke Lord LLP on

On December 22, 2017, the President signed into law H.R. 1, known generally as the Tax Cuts and Jobs Act (the “TCJA”), which makes widespread changes to the Internal Revenue Code. The TCJA includes a number of provisions that...more

Jones, Skelton & Hochuli Partners Sandy Gerber and Josh Snell Obtain Unanimous Defense Verdict

Plaintiffs Tyler Newton and Kalynn Palimsano insured their 2007 Chrysler Pacifica with our client, Defendant GEICO Automobile Insurance. On January 6, 2014, Plaintiff Kalynn Palmisano was driving the Pacifica when the engine...more

Major Disruption in the Use of Technology and Trademarks in the Insurance Industry

by Carlton Fields on

A major study recently emerged regarding insurance industry brands. The study, conducted on the world’s top 10 insurance companies by brand value, shows that an industry transformation is occurring, and that insurers that...more

AOB Reform Bill Passes Florida House, Senate Future Uncertain

On January 12, 2018, the Florida House of Representatives passed a bill (HB 7015) that would dramatically affect the way contractors and their lawyers use assignments of benefits (“AOBs”) in first-party property insurance...more

SEC Whistleblower Awards to Insurance Department Employees?

by Carlton Fields on

Many federal, state, and local governmental employees may be eligible for awards pursuant to the SEC’s whistleblower program under the Dodd-Frank Act. If a report to the SEC leads to an enforcement action that results in...more

West Virginia Court Allows Rescission of Professional Liability Policy

In its recent decision in ALPS Prop. & Cas. Ins. Co. v. Turkaly, 2018 U.S. Dist. LEXIS 5026 (S.D. W.Va. Jan. 11, 2018), the United States District Court for the Southern District of West Virginia had occasion to consider the...more

Harm caused by temporary car insurance is far from temporary

by Michigan Auto Law on

Temporary car insurance, such as 7 day policies, hurts uninsured drivers in cities like Detroit & Flint – who will face severe consequences after a car accident...more

Association Health Plans: New Proposed Rule to Help Convert Small Businesses and Self-Employed Individuals into a Status Similar...

by Epstein Becker & Green on

The Trump Administration has published a proposed rule allowing a significant change to the definition of "employer" under ERISA that would enable small businesses and self-employed individuals to band together to create...more

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