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TODAY'S TOP DEVELOPMENTS Tuesday, July 2, 2013   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  CASE LAW Professional Liability Insurance Life Insurance Policy Was Rescinded Where Insurer Sent Rescission Letter and Check for Premiums that Had Been Paid to Policyholder, and It Cashed the Check A mutual rescission of a life insurance policy was effected where the insurer sent a letter to the policyholder stating that its intent was to effect rescission of the policy as well as a check for the amount of the policy premiums that had been paid, plus interest, and the policyholder cashed the check, the U.S. Court of Appeals for the First Circuit has ruled. Read More Homeowner’s Insurance Kansas Supreme Court Rules that Theft Victim’s Insurance Premium Increase May be Added to Amount of Restitution Required of Thief The Kansas Supreme Court has decided that increases in a theft victim’s insurance premiums attributable to the victim’s filing of a claim for stolen property may be, as a matter of law, among the factors a sentencing judge weighs when deciding the amount of restitution to be required of the thief. Read More Commercial General Liability “Your Product” Exclusion Bars Coverage — Even Where “Product” Allegedly Was Another Company’s Goods The U.S. Court of Appeals for the Fourth Circuit has ruled that the “your property” exclusion in a commercial general liability insurance policy barred coverage for claims that the insured had negligently converted and sold another company’s product. Read More Worker’s Compensation “Psychic Injury” over Tax Bill Deemed Sufficient to Warrant Worker’s Comp Award, Court Rules A New York court has affirmed a decision by the state’s Workers’ Compensation Board granting benefits to an employee for a psychic injury she incurred after receiving a tax bill. The court explained that a worker’s compensation claim for psychic injury stemming from work–related stress was not compensable under New York’s worker’s compensation law if it was “a direct consequence of a lawful personnel decision involving a disciplinary action, work evaluation, job transfer, demotion, or termination taken in good faith by the employer.” The claimant in this case, however, had not been accused of wrongdoing by her employer; rather, “her mental injuries stemmed from the serious financial liabilities she incurred as a result of a review of the employer’s reimbursement practices.” Read More View All Case Law Developments    LEGISLATIVE/REGULATORY In the States Autism Insurance Coverage Bill Passes N.Y. Legislature The New York State legislature has passed another autism insurance coverage bill relating to coverage for applied behavioral analysis therapy. According to a statement from the New York State Senate, the legislation was in response to regulations implemented by the New York State Department of Financial Services that “have dramatically limited the number of ABA practitioners where individuals with autism can receive therapy which is covered by insurance.” Read More Insurance Fraud Former Fugitive Pleads Guilty to Multi–Million Dollar No–Fault Insurance Scheme Arthur Bogoraz has pleaded guilty to Money Laundering in the Second Degree (a class “C” felony) and Scheme to Defraud in the First Degree (a class “E” felony) for what New York prosecutors said was a massive insurance scheme in which he defrauded no–fault insurance providers by using stolen identification information to set up medical practices, sending false bills to insurance companies, and then laundering more than $8 million in fraudulently filed claims. Read More View All Legislative/Regulatory Developments      INDUSTRY NEWS Dogs Consuming Beach Towels and Golf Balls Top List of Bizarre Summer Pet Insurance Claims Read More Insurance Board Seeking President/CEO Read More The Hartford to Sell Hartford Life to Berkshire Hathaway Read More IUA Elects Malcolm Newman as New Chair Read More ACE Removes “Basis of Contract” Clause from U.K. Insurance Policy Wordings Read More View All Industry News Ask the Experts BAP Coverage for Spouse July, 2013 Browse our entire library of over 2,500 insurance resources and forms.    INSURANCE COVERAGE  LAW REPORT View Entire July Insurance Coverage Law Report   View Insurance Coverage Law Report Archives Steven A. Meyerowitz, ESQ. Director, FC&S Legal Victoria Prussen Spears, ESQ. Associate Director, FC&S Legal 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 ($795 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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