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TODAY'S TOP DEVELOPMENTS Tuesday, March 4, 2014   Industry news, expert analysis, and daily updates on the most significant insurance coverage legal developments—from the insurance and legal experts of The National Underwriter Company.  CASE LAW Life Insurance Estate of Shareholder of Dissolved Corporation Found Entitled to Proceeds of Life Insurance Policy on Former Employee An intermediate appellate court in Illinois, affirming a trial court's decision, has ruled that the estate of a shareholder of a dissolved corporation was entitled to the proceeds of a life insurance policy the corporation had taken out on the life of a former employee. Read More Automobile Insurance Trial Court Need Not Instruct Jury on Nature of UM Coverage Where Coverage Is Not Before the Jury, Even If Insurer Is a Party, Maryland's Highest Court Rules The Court of Appeals of Maryland, the state's highest court, has ruled that it was not reversible error for a trial court to reject a jury instruction on the nature of underinsured motorist coverage when an insurer was a party to the lawsuit, but the issue of coverage was not before the jury. Read More Commercial General Liability Cheerleader Injured in Gymnastics Class Entitled to Coverage under Insurance Policy's "Practice Session" Provision, Eighth Circuit Affirms The U.S. Court of Appeals for the Eighth Circuit, affirming a district court's decision, has ruled that a student cheerleader who was injured during a university gymnastics class was entitled to coverage for his injuries under an insurance policy that covered student cheerleaders who were injured during cheerleading practice sessions. Read More Financial Guaranty Insurance Insurers' Claims Against Bank in RMBS Case Are Reinstated on Appeal An intermediate appellate court in New York has reversed a trial court's decision and has reinstated numerous claims against a bank brought by insurers that had issued financial guaranty insurance policies in connection with six transactions for the sale of residential mortgage-backed securities. Read More View All Case Law Developments    LEGISLATIVE/REGULATORY Health Insurance New York Bill Would Mandate Insurance Coverage for Treatment of Drug and Alcohol Abuse and Dependency A bill pending in the New York State Senate would mandate insurance coverage for the treatment of drug and alcohol abuse and dependency. Read More International India's Insurance Industry Could See Additional Foreign Investment if Opposition Party Takes Power Arun Jaitley, the leader of India's opposition Bharatiya Janata Party ("BJP") in the country's upper house of parliament, has told CNN-IBN that the BJP would consider permitting additional foreign investment in the country's insurance industry if it takes power in the upcoming election. Read More View All Legislative/Regulatory Developments      INDUSTRY NEWS Warren E. Buffett Praises Ajit Jain – His Heir Apparent? – in Annual Letter to Shareholders Read More Liberty International Underwriters to Provide Network Activity Monitoring through BitSight Technologies for its Data Insure Policyholders  Read More XL Group Promotes Joseph Tocco to Head North America Property and Casualty; Ken Riegler to Take on Broader Responsibilities Read More Keith Mitchell Named President of Union Standard Insurance Group  Read More FC&S Legal Publishes Nelson Levine de Luca & Hamilton's Bad Faith Compendium: Massachusetts  Read More View All Industry News Discussion Aircraft or Vehicles as Cause of Loss Browse our entire library of over 2,500 insurance resources and forms.    INSURANCE COVERAGE  LAW REPORT View Entire March Insurance Coverage Law Report   View Insurance Coverage Law Report Archives Steven A. Meyerowitz, ESQ. Director, FC&S Legal [email protected] Victoria Prussen Spears, ESQ. Associate Director, FC&S Legal [email protected] FC&S Legal Editorial Advisory Board Mitchell J. Auslander, Willkie Farr & Gallagher LLP Carrie Cope, Schuyler, Roche & Crisham, P.C. Anjali C. Das, Wilson Elser John F. Finnegan, Chadbourne & Parke LLP Michele L. Jacobson, Stroock & Stroock & Lavan LLP Timothy P. Law, Reed Smith LLP Donald S. Malecki, Malecki, Deimling, Nielander & Associates, LLC Cort T. Malone, Anderson Kill & Olick, P.C. D. Milone, Kelley Drye & Warren LLP Joseph P. Monteleone, Tressler LLP Anne M. Murray, Rivkin Radler LLP Jerold Oshinsky, Kasowitz, Benson, Torres & Friedman LLP Seth B. Schafler, Proskauer Rose LLP David D. Thamann, The National Underwriter Company FC&S Daily Legal Report ($1,295 annual subscription) is included as part of your subscription to FC&S Legal: The Insurance Information Center. FC&S Daily Legal Report and The Insurance Coverage Law Report are publications of The National Underwriter Company. 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