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TODAY'S TOP DEVELOPMENTS Friday, July 26, 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.


Commercial General Liability
Price-Fixing Conspiracy Charges Did Not Implicate Policy's "Advertising Injury" Provisions, Court Rules
A federal district court in California has rejected the argument by Epson Electronic America, Inc., one of dozens of entities alleged to have engaged in a price-fixing conspiracy for TFT– LCD (thin film transistor liquid crystal display) flat panels incorporated into various products, that 12 cases in which plaintiffs alleged that Epson had violated the unfair competition or deceptive trade practice statutes of various states – cases that Epson characterized as "State Law False Advertising Cases" – entitled it to receive a defense from its commercial general liability insurance carrier because the claims implicated the policy's "advertising injury" provisions. Read More

Attorney's Fees
Insurer that Prevailed in Its DJ Action is Awarded Statutory Attorney's Fees
A federal district court in Oklahoma has awarded attorney's fees to an insurance company that prevailed in its declaratory judgment action and obtained a judgment that it had no duty to defend or indemnify its insureds. Read More

Bad Faith
Oral Binder May Form Basis for Policy Reformation and Retroactive Coverage, But Did Not Establish Bad Faith on Its Own, Court Rules
A federal district court in California has ruled that although an oral binder may form the basis for policy reformation and retroactive coverage, it did not, on its own, establish bad faith and, even if it constituted an oral promise, did not open the door for retroactive application of the implied covenant of good faith and fair dealing. Read More

In Dispute with Excess Insurer, Insured Had Burden of Proving Allocation of Settlement Funds among Covered and Excluded Claims
An appellate court in Pennsylvania has ruled that an insured, in a dispute with its excess insurer, had the burden of demonstrating the portion of a settlement that was for covered claims and the portion of the settlement that was for claims that were not covered by the policy. Read More

View All Case Law Developments

Federal Actions

Senators Introduce Legislation to Alter Tax on Small Mutual Insurers
Under current law, property and casualty insurance companies with annual premiums above $350,000 but less than $1.2 million can elect to be taxed on their net investment income as opposed to their annual operating income. The maximum limit for this election would change if a bill introduced in the U.S. Senate to increase the alternative tax liability limitation for small property and casualty insurance companies becomes law. Read More

In the States
Connecticut Now Requires Insurers to Participate in Climate Risk Surveys
Connecticut-based insurance companies now are required to complete the annual Climate Risk Survey that was initially adopted in 2009 as a voluntary report by the National Association of Insurance Commissioners. Read More

View All Legislative/Regulatory Developments
Several Insurers Hold Detroit Municipal Bonds, SNL Financial Reports Read More

Study Finds Cybercrime Costs U.S. Economy $100 Billion Annually
Read More

Endurance Appoints New Chief Risk and Chief Operations Officers
Read More

Renewable Energy Sector Could Triple Annual Insurance Spending by 2020, Report Finds
Read More

George Spedding Named Vice President of Claims at Scottsdale Insurance
Read More

View All Industry News

Automobile and Motor Vehicle Defined


Browse our entire library of over 2,500 insurance resources and forms.

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60px_newMeyerowitz Steven A. Meyerowitz, ESQ.
Director, FC&S Legal
60px_newSpears 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

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