News & Analysis as of

Insurance Industry

Possession May Be Nine-Tenths of the Law - but Watch out for the Other One-Tenth

by Charles (Chuck) Rubin on

Prudential Insurance Company of America issued a life insurance policy on the life of Russell. Russell’s wife, Sherry, was the beneficiary. The policy contained $332,000 of term life coverage and $332,000 of accidental death...more

Northern California Wildfires — Important Insurance Coverage Considerations

by K&L Gates LLP on

The ongoing Northern California wildfires are already the most destructive in the state’s history. In addition to the tragic loss of dozens of lives, California officials have reported that at least 5,700 structures have been...more

In the End, Pa. Supreme Court Only Clarifies Bad Faith Law

by Zelle LLP on

In its recent decision in Rancosky v. Washington National Insurance Company, the Pennsylvania Supreme Court examined, for the first time, Pennsylvania’s standard for insurance bad faith. The court held that, while an...more

Wildfires Rage: Insurance Advice for Recovery After the Smoke Clears

Some guiding principles, taken from decades of experience representing insurance policyholders in California and around the globe - The Wine Country fires, and the uncertainty of their cause, may complicate insurance...more

Reaping the Jurisdictional Whirlwind

by Reed Smith on

Literally for decades plaintiffs in mass torts have employed the business model of flooding jurisdictions seen as friendly to them with more solicited plaintiffs than any court system can possibly handle. They have employed...more

Is Your Business Insured Against A Cyber Attack?

by Partridge Snow & Hahn LLP on

Your business has insurance coverage for flood and fire damage. You are protected if an employee gets into a car accident. But are you covered for a cyber attack?...more

Shrinking Damages with Smart Data

by Wilson Elser on

Recently, an elderly couple – who were both plaintiffs, one for personal injuries and the other for loss of consortium – gave testimony about their active lifestyle (outdoors and in the bedroom) before a slip-and-fall...more

Expect Focus - Life Insurance, Volume III - September 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 Publication...more

Expect Focus - Life Insurance, Volume III - September 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 Publication...more

Alabama and Mississippi Insurance Law Questions Following Hurricane Nate

Hurricane Nate made landfall on the Mississippi Gulf Coast near the city of Biloxi on Sunday, October 8, 2017, as a Category 1 Hurricane. The eastern quadrant of the storm’s center also passed over significant portions of...more

The Scope of an Insurer’s Right to Control the Defense – OneBeacon America Ins. Co. v. Celanese Corp.

The scope of an insurer’s right to control the defense of an insured is an underdeveloped issue in Massachusetts case law, which the Appeals Court recently addressed in OneBeacon America Ins. Co. v. Celanese Corp., No....more

New NYS Regulations Seek To Reign In Title Insurance Marketing Practices

by Morrison & Foerster LLP on

The New York State Department of Financial Services (DFS) has announced new regulations aimed at reforming various title insurance industry practices, including practices involving title company and agency marketing...more

Obligations of Insurer and Policyholder - October 2017

by Foley Hoag LLP on

Scope: The “Comparison Test” - The defense obligation arises when a defense is needed: at the outset of the suit. It follows that, unlike the duty to indemnify (which depends on the “true” facts as they are determined in...more

Reliance Liquidation Court Approves Application For Direct Payments From Reliance’s Reinsurers To Certain Insureds

by Carlton Fields on

The court handling the liquidation of Reliance Insurance Company has approved an application for the direct payment of reinsurance proceeds by Hunt Equities, Inc., as guarantor of Mount Vernon Insurance company (the...more

Court Compels Discovery, Awards Sanctions In Dispute Over Whether Reinsurance Arbitration Clause Applies

by Carlton Fields on

In 2011, Top’s Personnel entered into a reinsurance agreement with Applied Underwriters Captive Risk Assurance Company (“AUCRA”), and several years later executed a promissory note (“the Note”) in favor of a related entity,...more

Summary Judgment Win for Insurer in “Stable Value” Interest Rate Setting Case

by Carlton Fields on

In July, MetLife obtained a win in the Northern District of Illinois when the court granted summary judgment in its favor on a claim that it had breached the duty of good faith and fair dealing in setting interest rates for a...more

In Wake of Disasters, Do Not Just Assume No Coverage Available for Cannabis-Related Losses

by Reed Smith on

As reported extensively in the media over the past week, the cannabis industry has been hit hard by recent natural disasters. While companies doing business in this industry may face some unique challenges in purchasing...more

[Webinar] California Insurance, Marijuana, and Reasonable Medical Treatment - November 9th, 1:00pm PT

by Low, Ball & Lynch on

Low, Ball & Lynch is pleased to present our 2017 Sacramento Seminar/Webinar. Expert attorneys from LBL, along with medical and insurance professionals, to bring you up-to-date on recent legal developments in legal issues...more

Insurance Issues Facing the Automotive and Transportation Industries in the Transition To Autonomous Vehicles

by King & Spalding on

The world of self-driving cars and trucks is now upon us. Among other expected impacts, the gradual transition from driver-controlled to semi-autonomous to fully-autonomous vehicles will mean significant changes in insurance...more

A Ticking Clock: New York’s Pending Non-Guaranteed Elements Rule for Life Insurance and Annuity Products

by Carlton Fields on

The clock is ticking on the New York Department of Financial Services’ issuance of new Regulation 210 "Life Insurance and Annuity Non-Guaranteed Elements" (the Rule). ...more

Dismissal of Individual Claims Cap Insurer’s Winning Streak in Action Challenging FIA Product Features

by Carlton Fields on

In May, the Southern District of California handed ING a win in a case involving allegations that the company targeted seniors with annuities that hid an embedded derivative structure that made them worth less than promised....more

Eleventh Circuit Affirms Summary Judgment or Insurer in STOLI Case

by Carlton Fields on

In Sun Life Assur. Co. of Canada v. U.S. Bank Nat. Ass’n, the Eleventh Circuit recently clarified that where a life insurance policy lacks an insurable interest at its inception and is thus void ab initio, prejudgment...more

The Pruco Florida Supreme Court decision has been legislatively reversed by a recent amendment to the Florida Viatical Settlement...

by Locke Lord LLP on

The Florida Supreme Court Pruco advisory opinion, Wells Fargo Bank, N.A. v. Pruco Life Ins. Co., 200 So. 3d at 1203 & 1206-07, to the United States Eleventh Circuit Court of Appeals held that an insurer may not challenge the...more

Plaintiffs Survive Standing-Based Challenge to California Senior Notice and Financial Elder Abuse Claims

by Carlton Fields on

In California, actions predicated on alleged senior notice requirement violations and financial elder abuse continue to challenge life insurers. For example, in June, a California federal district court denied the insurer’s...more

Pennsylvania Court Holds Fiduciary Duty Exists Only Where Consumer Cedes Decision-Making Control to the Fiduciary

by Carlton Fields on

The Pennsylvania Supreme Court recently held in Yenchi v. Ameriprise Financial, Inc. that a financial adviser owed no fiduciary duty to a couple who purchased a life insurance policy based on the adviser’s advice where they...more

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