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| TODAY'S TOP DEVELOPMENTS |
Monday, November 21, 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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Crime
Contractors Who Embezzled Insured's Funds Were "Employees" Under Crime Policy, Yielding Coverage, North Carolina Federal Court Rules
A federal district court in North Carolina has ruled that an insured company was entitled to recover nearly one-half million dollars from its insurer to cover losses from embezzlement by independent contractors hired to pay payroll and taxes. Read More
Errors & Omissions
Embezzling Employee's Losses Not Covered by E&O Policy, Sixth Circuit Decides in Rejecting "Illusory Coverage" Challenge
The U.S. Court of Appeals for the Sixth Circuit, affirming a decision by the U.S. District Court for the Eastern District of Michigan, has ruled that losses caused by an embezzling employee were not covered by the insured's errors and omissions insurance policy and that the insured had filed a claim under a fidelity bond too late to be able to recover under the bond. Read More
Endorsements
California District Court Rejects "Illusory Coverage" Challenge to Endorsement and Finds That It Converted Coverage to Excess
A federal district court in California has upheld an endorsement against a challenge that it created illusory coverage and has decided that it converted coverage under the policy to excess in this particular case. Read More
Life Insurance
Daughter of 92 Year Old Woman Who Died After a Fall Could Not Recover Under AD&D Policy, Alabama Federal Court Decides
A federal court in Alabama has ruled that a life insurance company was not obligated to make payments under an accidental death and dismemberment ("AD&D") policy following the death of the insured, at 92 years of age. Read More |
View All Case Law Developments |
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Employee Benefits
PBGC Report Shows Increasing Deficit in Multiemployer Program
The Pension Benefit Guaranty Corporation's fiscal year 2016 annual report shows that the deficit in its multiemployer insurance program rose to $58.8 billion. Read More
In the States
Maryland Insurance Commissioner Convenes Long-Term Care Insurance Workgroup
Maryland Insurance Commissioner Al Redmer, Jr., has convened an internal workgroup on long-term care insurance to study the issues associated with the current state of the LTC marketplace in Maryland. Read More |
View All Legislative/Regulatory Developments |
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| FC&S Legal Publishes "Whistleblowers Play Key Role in Fight Against Federal Health Insurance Fraud" Read More |
Allied World Global Markets Appoints New Head of Financial Lines Read More |
XL Catlin Names Global Claims Practice Leader for Political Risk and Trade Credit Insurance Business Read More |
MiCRO Expands Microinsurance Market in Central America Read More |
Two New Risk Control Resources Available to Safety Specialty Insurance Company Policyholders 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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