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| TODAY'S TOP DEVELOPMENTS |
Friday, June 26, 2015 |
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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.
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Superstorm Sandy
Absence of Evidence that Wind, Not Water, Caused Superstorm Sandy Damage Dooms Condo Association's Breach of Contract Claim Against Insurer
A federal district court in New Jersey has granted an insurance company's summary judgment motion in a Superstorm Sandy case, ruling that a condo association had not presented evidence demonstrating that damage to the condo had been caused by wind rather than by water, which was excluded by its commercial property insurance policy. Read More
Subrogation
West Virginia Supreme: Insurer's Subrogation Action Against Alleged Tortfeasors Was Not Barred By Its Failure to Provide Prior Notice of Settlements
The Supreme Court of Appeals of West Virginia, reversing a trial court's decision, has ruled that an insurance company's subrogation action for "implied indemnification" against alleged tortfeasors was not barred by its failure to have provided prior notice to the alleged tortfeasors of settlements it made with its insured and an allegedly injured third party. Read More
Automobile Insurance
Insured Who Had Not Suffered Bodily Injury Could Not Recover UIM Benefits, Minnesota Appeals Court Decides in Case of First Impression
In a case of first impression in the state, an appellate court in Minnesota has ruled that an automobile insurance policy that limited underinsured motorist coverage to bodily injury sustained by an insured complied with the Minnesota No-Fault Automobile Insurance Act, and that an auto policy did not have to provide UIM benefits to an insured who had not suffered bodily injury. Read More
Exclusions
No Coverage of Claim for Injury Allegedly Caused by Exposure to Mold, Mildew, and Fungi Even if Injury Had Been Caused by "Other Microorganisms and/or Toxic Airborne Pathogens"
The U.S. District Court for the Northern District of Illinois has ruled that an exclusion in an insurance policy for losses attributable to "fungi" and "bacteria" barred coverage of a claim that apartment residents had been injured by "constant exposure" to "mold, mildew, fungi and other microorganisms and/or toxic airborne pathogens." Read More |
View All Case Law Developments |
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Life Insurance
"Reverse Life Insurance" Investment Scam Leads to 10 Year Federal Prison Sentence
The founder and chief executive officer of a firm that solicited more than $5 million from victims who thought they were investing in "reverse life insurance" policies has been sentenced to 121 months in prison. Read More
Automobile Insurance
Lyft Settles Insurance Dispute with New York Regulators
New York regulators have agreed to the terms of a consent order and judgment with Lyft, a company that provides for-hire livery services where the company, among other things, dispatches cars through a phone app. The consent order, which resolves an action filed against Lyft in July 2014, requires Lyft to pay $300,000 in penalties for alleged violations of New York state and municipal laws — one of the largest penalties enacted against a "sharing economy" company to date. Lyft also agreed that it will comply with the relevant provisions of the New York Insurance Law. Read More |
View All Legislative/Regulatory Developments |
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| Seven in 10 Insurers Are Unprepared for Potential Disruption Caused by Autonomous Vehicles, KPMG Survey Finds Read More |
David L. Elkind Joins Lowenstein Sandler's Insurance Recovery Group in Washington, D.C. Read More |
NICB: As Vehicle Thefts Decline, Thieves Target Components Read More |
Reinsurance Association of America Releases Reinsurance Underwriting Review Read More |
FAA Grants Section 333 Exemption to Property Drone Consortium Read More |
View All Industry News |
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INSURANCE COVERAGE
LAW REPORT |
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View Entire May / June Insurance Coverage Law Report |
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Victoria Prussen Spears, ESQ.
Associate Director, FC&S Legal
vspears@alm.com |
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| 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. |
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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 |
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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. To subscribe to FC&S Legal, please contact customer service at 1-800-543-0874 or customerservice@nuco.com.
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| FC&S Legal: The Insurance Coverage Law Information Center |
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