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TODAY'S TOP DEVELOPMENTS Thursday, January 9, 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 Product Liability Coverage Independent Equitable Cause of Action for Medical Monitoring is Rejected by New York's Top Court New York's highest court, the New York Court of Appeals, has refused to recognize an independent equitable cause of action for medical monitoring. Read More Surety Is a Financial Institution Bond a Surety Contract? South Dakota Supreme Court Is Asked to Decide A federal district judge in South Dakota has asked the South Dakota Supreme Court to determine whether a financial institution bond was a surety contract and, therefore, whether it was exempt from the South Dakota law that prohibits parties from contractually limiting the statute of limitations except in the case of a surety contract. Read More Subrogation Insurer's Default Judgment Against Corporation Had Expired By the Time Insurer Brought Its "Piercing the Corporate Veil" Suit against Corporation's Owner, Appellate Court Rules An appellate court in Minnesota has ruled that a default judgment an insurance company had obtained against a corporation for causing water damage to a home it insured had expired by the time it brought suit against the corporation's owner and sole shareholder seeking to pierce the corporate veil and hold him personally liable for the judgment. Therefore, the insurer's action had been properly dismissed, the appellate court decided.  Read More Automobile Insurance Insurer May Issue Settlement Check Payable to Both Insured and Health Care Provider to Avoid Risk of Having to Make a Double Payment An appellate court in Minnesota has ruled that an insurance carrier could issue a settlement check payable to both its insured and the health care provider that treated her to avoid the risk of having to make a double payment. Read More View All Case Law Developments    LEGISLATIVE/REGULATORY Insurance Fraud New York City Charges 80 Retired Police Officers and Firefighters with Disability Fraud Costing Federal Taxpayers Hundreds of Millions of Dollars Manhattan District Attorney Cyrus R. Vance, Jr., has indicted 106 people for perpetrating what he characterized as “a massive fraud” against the federal Social Security Disability Insurance Benefits program that allegedly cost the federal government hundreds of millions of dollars. Read More Insurance Fraud Personal Injury Attorney Admits Role in Extensive Insurance Fraud Conspiracy A personal injury attorney from Bridgeport, Connecticut, has pleaded guilty to federal charges for participating in an extensive insurance fraud scheme that, prosecutors said, led more than 10 insurance carriers to lose a total of up to $2.5 million. Read More View All Legislative/Regulatory Developments      INDUSTRY NEWS Ian Bowler to Lead London Professional Indemnity Team at Endurance Read More NSM Insurance Group Acquires American Collectors Insurance, a Collector Car Insurance Program Read More Marsh Launches Habitational Real Estate Property Insurance Facility Read More Europe Faces $2.25 Billion Economic Loss from December Windstorms, According to Impact Forecasting Catastrophe Report Read More Berkshire Hathaway Specialty Insurance Adds Primary Casualty Construction Capabilities Read More View All Industry News Discussion Federal Insurance Requirements for Property Motor Carriers Browse our entire library of over 2,500 insurance resources and forms.    INSURANCE COVERAGE  LAW REPORT View Entire December/January 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, 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 FC&S Daily Legal Report ($1,295 annual subscription) is included as part of your subscription to FC&S Legal: The Insurance Information Center. 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