3 Proven Strategies for Dealing with a Midland Funding Lawsuit
Lost Business Income Not Covered Because Not Caused by Direct Physical Loss Or Damage, Third Department Finds- 87 Uptown Road, LLC owned an apartment complex with 11 apartment buildings in Ithaca, New York, which were...more
With very limited exceptions, liability policies provide insureds with two primary benefits: a defense paid for by the insurance carrier and indemnity for covered claims. These benefits to the insured are purchased with...more
In Gates v. Homesite Insurance Co., the Washington Court of Appeals held that the plaintiff-insureds’ failure to provide 20 days’ notice of intent to sue its insurer, though required by statute, was a mere “procedural...more
An insurer can no longer claim its lack of notice of a lawsuit against its insured excuses it for failing to settle the suit after the Georgia Supreme Court’s recent decision in GEICO Indemnity Co. v. Whiteside, Case No....more
In our March Insurance Update, we discuss four state supreme court cases and four cybercrime cases. The state high courts address: •From whose perspective should a consent-to-settle provision be judged? •What standard...more
In Greene v. Westfield Insurance Co., the Seventh Circuit Court of Appeals recently affirmed summary judgment finding that commercial general liability policies issued by Westfield Insurance Co. did not cover a $50.56 million...more
An insurer of a suspended corporation has an incentive to defend the corporation because it may be liable to a judgment creditor that obtains a default judgment against the insured suspended corporate. See Cal. Ins. Code §...more
In Pacific Pioneer Ins. Co. v. Superior Court (No. G057326; filed 1/30/20), a California appeals court upheld the right of an insurer to appeal a default judgment in a small claims action against its policyholder on the basis...more
We have been tracking an ongoing reinsurance matter in which Odyssey Reinsurance Co. obtained a $3.2 million default judgment against Cal-Regent Insurance Services Corp. and Pacific Brokers Insurance Services (PBIS) as a...more
Insurers often claim “economic damages” are not covered under a standard commercial general liability (CGL) policy. The Fourth District Court of Appeal’s decision in Thee Sombrero, Inc. v. Scottsdale Ins. Co., 28 Cal. App....more
General liability insurance policies normally cover “property damage.” Physical injury to, or outright destruction of, property almost always fits within policy coverage. But what about situations when the property is not...more
We have previously reported on Odyssey Reinsurance’s Continuing efforts to collect a $3.2 million default judgment against Richard And Diane Nagby in our blog on numerous occasions. ...more
Insurance companies can no longer breach the duty to defend believing that, as long as they act in good faith, their potential liability is capped at policy limits or any costs incurred by the insured in mounting a defense....more
A recent opinion by the New York Supreme Court, Appellate Division (Second Department) highlights the potential risks for an insurer leaving an insured unrepresented while the insurer pursues other parties or insurers who may...more
Odyssey Reinsurance Company (“Odyssey”) has obtained an order compelling John Scannell to produce subpoenaed documents related to Odyssey’s efforts to collect a $3.2 million judgment rendered against Richard and Diane Nagby....more
A feature of 28 U.S.C. § 1332, the diversity-jurisdiction statute, may make you scratch your head and wonder why it’s there. In the Seventh Circuit’s March 15, 2018 decision in Hyland v. Liberty Mutual Fire Ins. Co., No....more
A Magistrate Judge in the U.S. District Court for the Southern District of New York has recommended that a default judgment totaling more than $221 million be entered against the Islamic Republic of Iran and in favor of...more
Odyssey Reinsurance Company obtained a $3.2 million default judgment on October 4, 2017, against Cal-Regent Insurance Services Corporation and Pacific Brokers Insurance Services (“PBIS”) as a result of fraudulent transfers...more