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| TODAY'S TOP DEVELOPMENTS |
Thursday, September 4, 2014 |
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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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Commercial General Liability
Texas Appeals Court Rules that Insured May Be Able to Demonstrate Coverage for Punitive Damages Award
An appellate court in Texas has reversed summary judgment in favor of an insurance company and has ruled that the insured should have the opportunity to demonstrate that a punitive damages judgment against it was covered by commercial general liability and umbrella policies that had been issued in its favor. Read More
Commercial Property
Fourth Circuit Upholds $2.3 Million Jury Verdict Against Insurer, Finding that It Waived Violation of Policy's Fire Protective Safeguards Endorsement
The U.S. Court of Appeals for the Fourth Circuit, affirming a district court's decision after a jury trial, has ruled that, based on North Carolina law, a fire protective safeguards endorsement set forth in a commercial property insurance policy was subject to waiver and estoppel, that the insurer's failure to act for twenty-seven days after learning of the violation of the endorsement was sufficient for it to have waived that provision, and that there existed "sufficient evidence for a reasonable jury to have found" against the insurer and award $2,369,000. Read More
Homeowners Insurance
Insurer Did Not Have to Refund Premium to Deny Claim on Basis of Misrepresentation and Fraud, New Jersey Appeals Court Rules
An appellate court in New Jersey, affirming a trial court's decision following a jury trial, has ruled that an insurer was not estopped from denying a claim on grounds of fraud and concealment where it had not refunded the premium. Read More
Homeowners Insurance
Court Approves Settlement of Nationwide Class Action against Citibank Over Force-Placed Insurance
Judge David Hurd of the U.S. District Court for the Northern District of New York has granted final approval of a nationwide class action settlement in a pair of consolidated federal cases, Casey v. Citigroup, Inc., No. 12-cv-820 (N.D.N.Y.) and Coonan v. Citibank, N.A., No. 13-cv-353 (N.D.N.Y.), involving force-placed insurance. Read More |
View All Case Law Developments |
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Insurance Fraud
Owner and Seven Employees of Mortgage Company and Two Real Estate Developers Charged in Alleged $50 Million Scam Involving Federally Insured Mortgages
The owner of a Florida mortgage company, seven employees of the company, and two real estate developers have been indicted in the Southern District of Florida in connection with an alleged $50 million fraud involving federally insured mortgages. Read More
Eye on the Experts
Use of Credit Ratings in Capital Requirements for Insurers — The Collins "Fix"
This Eye on the Experts article considers whether a proposed amendment to The Dodd-Frank Wall Street Reform and Consumer Protection Act — which requires federal financial regulators to impose rigorous capital standards on certain financial firms — will work as intended. Read More
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View All Legislative/Regulatory Developments |
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| Barger & Wolen and Hinshaw & Culberston to Merge Read More |
Insurance Industry Executive Beth Friel Becomes Vice President and People Officer at Nelson Brown Read More |
FC&S Legal Publishes "California Supreme Court Defines Scope of Advertising Injury Coverage" Read More |
Peter D. Hancock Assumes Role as AIG President and CEO Read More |
Valerie Onderka Hired to Lead Ironshore's Expanded Architects and Engineers Program Read More |
View All Industry News |
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INSURANCE COVERAGE
LAW REPORT |
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View Entire September Insurance Coverage Law Report |
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| View Insurance Coverage Law Report Archives |
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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
Donald S. Malecki, Malecki, Deimling, Nielander &
Associates, LLC |
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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 |
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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@SummitProNets.com.
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| FC&S Legal: The Insurance Coverage Law Information Center |
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