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TODAY'S TOP DEVELOPMENTS Thursday, June 2, 2016     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 Financial Institution Bond Eighth Circuit: Financial Institution Bond Covered Damage from Malware That Allowed Third Party to Transfer Bank's Funds to Foreign Account The U.S. Court of Appeals for the Eighth Circuit, affirming a decision by the U.S. District Court for the District of Minnesota, has ruled that a financial institution bond covered losses suffered by a bank when its computer became infected with malware, allowing a criminal third party to transfer $485,000 from the bank to a foreign bank account. Read More Automobile Insurance Delaware Supreme: PIP Benefits Payable to Student Injured Crossing Street to Board School Bus The Delaware Supreme Court, affirming a trial court's decision, has ruled that a school bus was involved in an accident when the driver signaled to a student that she should cross the street to board the bus and she was struck by another vehicle, and that the student was entitled to personal injury protection benefits. Read More Verdicts & Settlements Cemetery Director Who Claimed Piping at Work Site Was Dangerous Is Awarded $400,000 A cemetery director who alleged that he had been injured at a construction site at a cemetery has been awarded $400,000. Read More Eye on the Experts Colorado Supreme Court: Insurers Need Not Show Prejudice to Enforce No-Voluntary-Payments Provision of Insurance Policy This Eye on the Experts article discusses a recent Colorado Supreme Court decision holding that insurers need not demonstrate prejudice in order to enforce the "no-voluntary-payments" provision of insurance policies that would result in the denial of insurance coverage. Read More View All Case Law Developments    LEGISLATIVE/REGULATORY In the States Oklahoma Insurance Commissioner Raises Competitiveness Concerns After Data Reveals Four Insurers Have 55 Percent of Oklahoma Earthquake Market At a hearing on earthquake insurance organized at the behest of Oklahoma Insurance Commissioner John D. Doak after insurance carriers "filed significant rate increases, dropped lower deductible options or decided to stop writing new earthquake insurance policies," Commissioner Doak revealed that four insurance companies have 55 percent of the Oklahoma earthquake insurance market. Read More In the States Pharmacy to Pay $478,000 in Restitution and Damages in Settlement with New York Vascuscript, Inc., d/b/a Mobile Pharmacy Solutions, has reached a settlement with New York State Attorney General Eric T. Schneiderman resolving allegations that it billed Medicaid for prescriptions that were written by an excluded Medicaid provider. Read More View All Legislative/Regulatory Developments      INDUSTRY NEWS AIG Launches New Equity Crowdfunding Insurance Product Read More Berkshire Hathaway Specialty Insurance Names Jeff Meyer and Michael Hopkins to Lead Medical Stop Loss Sales in the U.S. Read More XL Catlin Enhances Contractor's Professional and Pollution Legal Liability Insurance with Rectification Expense Coverage Read More AXA Group Divests Tobacco Industry Assets Read More Toyota and Uber to Explore Ridesharing Collaboration Read More View All Industry News   ISO Form CA 99 37 10 13 Browse our entire library of over 2,500 insurance resources and forms.    INSURANCE COVERAGE  LAW REPORT View Entire Spring Insurance Coverage Law Report   View Insurance Coverage Law Report Archives   Steven A. Meyerowitz, ESQ. Director, FC&S Legal smeyerowitz@alm.com Victoria Prussen Spears, ESQ. Associate Director, FC&S Legal vspears@alm.com 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 Cort T. Malone, Anderson Kill, P.C. Richard D. Milone, Kelley Drye & Warren LLP Joseph P. Monteleone, Rivkin Radler LLP Anne M. Murray, Rivkin Radler LLP Jerold Oshinsky, Kasowitz, Benson, Torres & Friedman LLP Seth B. Schafler, Proskauer Rose LLP Thomas F. Segalla, Goldberg Segalla 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. For more information, visit www.fcandslegal.com. 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