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TODAY'S TOP DEVELOPMENTS |
Monday, October 17, 2016 |
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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 Property Company That Suffered “Direct, Pecuniary Loss” from Destruction of Property It Did Not Own Nevertheless Had Insurable Interest in That Property, Michigan Appeals Court Finds
An appellate court in Michigan, reversing a trial court’s decision, has ruled that an insured could have an insurable interest in property even if it did not have a legal interest in it and even if it was not financially responsible for damages to it because an insured’s pecuniary interest in insured property was sufficient to constitute an insurable interest. Read More
Commercial General Liability
N.Y. Appeals Court Rules That Policy’s Additional Insured Clause Covered Only Those With Written Contract “Directly With” Named Insured
An appellate court in New York, reversing a trial court’s decision, has ruled that an additional insured clause in a commercial general liability insurance policy issued to a contractor on a construction project covered only those that had a written contract “directly with” the contractor. Because the project’s construction manager did not have a contract directly with the contractor, it was not an additional insured under the policy obtained by the contractor. Read More
Commercial Auto
What’s in a Name? Where Policy Identified Insured as an Individual, But Other Documents Indicated Insured Was a Corporation, the Answer Is: Everything.
An appellate court in Texas, affirming a trial court’s decision, has ruled that an insurance company was not liable for a claim against a company where its insured under a business auto policy was an individual doing business as the company rather than the company itself. Read More
Claims Resolution
A FINRA Arbitration Panel Awarded Investors $3.2 Million. An AAA Arbitration Panel Found No Insurance Coverage.
An appellate court in Texas, citing the absence of an arbitration transcript, has affirmed a trial court’s decision confirming an arbitration panel’s ruling that an insurance policy issued to a financial services company did not cover an underlying multi-million dollar judgment. Read More |
View All Case Law Developments |
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In the States
North Carolina Insurance Department Imposes Record Fine
Blue Cross Blue Shield of North Carolina has been fined $3.6 million by the North Carolina Department of Insurance. Read More
In the States
District of Columbia’s Insurance Department Is Seeking a Director of Fraud
The District of Columbia is seeking a “Director of Fraud” to work with the Commissioner of Insurance & Securities Regulations in auditing allegations of fraud and in the development and implementation of programs to prevent fraud and abuse. Read More |
View All Legislative/Regulatory Developments |
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FC&S Legal Publishes “Insurance Regulators Propose New Guidelines for Reviewing Acquisitions” Read More |
WestRock Signs $2.5 Billion Pension Risk Transfer Agreement with Prudential Read More |
Beazley Launches New Products for Construction Industry Read More |
Allianz Expands Global Environmental Impairment Liability Team Read More |
United Fire Group Enters Kentucky Insurance Market Read More |
View All Industry News |
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INSURANCE COVERAGE
LAW REPORT |
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View Entire Fall Insurance Coverage Law Report |
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View Insurance Coverage Law Report Archives |
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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, Cope Ehlers, 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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