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TODAY'S TOP DEVELOPMENTS Thursday, July 3, 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 Umbrella Umbrella Carriers Are Liable for Insured’s Post-Hurricane “Removal of Debris” Damages, Circuit Finds The U.S. Court of Appeals for the Fifth Circuit, reversing a district court’s decision, has ruled that four umbrella insurance carriers were liable for removal of debris expenses an energy exploration and development company said it had incurred as a result of Hurricane Ike. The circuit court rejected the umbrella carriers’ contention that their policies only took effect if the insured’s underlying/primary insurance was exhausted by claims that would be covered by the umbrella policies. Read More Commercial General Liability Policy’s Exclusions Did Not Apply Where LLC Member Acted in His Individual Capacity, and Not in Insured LLC’s Capacity, South Dakota Supreme Rules The South Dakota Supreme Court, affirming a trial court’s decision, has ruled that neither a “property you own, rent, or occupy” exclusion nor a “care, custody, or control” exclusion in a commercial general liability insurance policy excluded coverage for a claim by a member of a limited liability company for damage the member caused with the limited liability company’s property to property the member owned individually. Read More Flood Superstorm Sandy: Finding that “Storm Surge” is a Type of “Flood,” Court Rules for Insurer A federal district court in New York, ruling in a Superstorm Sandy case, has decided that a “storm surge” was a type of “flood” and, therefore, not a covered separate peril. Read More Homeowners Insurance Maryland’s Highest Court Decides that “Business Pursuits” Exclusion Requires Continuity and Profit Motive The Court of Appeals of Maryland, the state’s highest court, has ruled that, to determine if a third party complaint triggered the “business pursuits” exclusion in a homeowner’s liability insurance policy, an insurer must consider the continuity of the insured’s alleged business interests and the insured’s profit motive. Read More View All Case Law Developments  LEGISLATIVE/REGULATORY Flood Massachusetts Senate, Joining the House, Passes Bill to Cap Flood Insurance Rates The Massachusetts Senate has passed a flood insurance bill that would prohibit creditors from requiring homeowners to purchase flood insurance in an amount that exceeds the outstanding balance of their mortgage, requires coverage for contents, or includes a deductible of less than $5,000. Read More Insurance Fraud Nation’s Largest Nursing Home Pharmacy Company to Pay $124 Million to Settle Allegations Involving False Billings to Federal Health Care Programs Omnicare Inc., the nation’s largest provider of pharmaceuticals and pharmacy services to nursing homes, has agreed to pay $124.24 million for allegedly offering improper financial incentives to skilled nursing facilities in return for their continued selection of Omnicare to supply drugs to elderly Medicare and Medicaid beneficiaries. Read More View All Legislative/Regulatory Developments  INDUSTRY NEWS Insurance Coverage Attorney J. Robert MacAneney Becomes a Partner at Kaufman Dolowich & Voluck Read More U.S. Life Insurers Facing Earnings Pressure from Low Yields, According to Fitch Ratings Read More M. Steven Levy Named President of Reinsurance Division of Munich Reinsurance America Read More Mike Mascolo, Peter Moore, and Robert Volkel Named Regional Leaders of Wells Fargo’s Employee Benefits Practice Read More MetLife Introduces Bundled Auto and Home Insurance Policies Read More View All Industry News Discussion The Continuous Injury Trigger and Progressive Injury Exclusions 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 [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, Rivkin Radler 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. For more information, visit www.fcandslegal.com. 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