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| TODAY'S TOP DEVELOPMENTS |
Thursday, May 5, 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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Excess
In Asbestos-Related Excess Coverage Dispute, New York’s Top Court Applies “All Sum” Allocation and Vertical Exhaustion
New York’s highest court, the New York Court of Appeals, has decided, in an asbestos coverage dispute, that “all sums” allocation applied where the excess insurance policies either followed form to a non-cumulation provision or contained a non-cumulation and prior insurance provision. The Court also decided that vertical exhaustion was required before certain upper level excess policies attached. Read More
Superstorm Sandy
Federal Court in Superstorm Sandy Case Dismisses RICO Action Based on Allegedly Fraudulent Damage Reports
A federal district court in New York has dismissed claims under the federal Racketeer Influenced and Corrupt Organizations Act brought by an insured whose home was damaged by Superstorm Sandy against an insurance company and its contractors based on allegations that damage reports had been fraudulently prepared. Read More
Verdicts & Settlements
Doctor and Wife Struck by Car While Crossing Street Found Negligent; Awarded No Damages
A jury has decided that a husband and wife who were struck by a car while crossing a street in Texas were negligent and entitled to no damages from the driver. Read More
Eye on the Experts
Fourth Circuit Holds That Data Breach Is Covered by Commercial General Liability Policy
This Eye on the Experts article discusses a recent unpublished opinion by the U.S. Court of Appeals for the Fourth Circuit holding that an insurer must defend a medical records company in a putative class action pending in New York state court alleging data breaches. Read More |
View All Case Law Developments |
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Federal Actions
FINRA Sanctions MetLife Securities with Its Largest Fine Relating to Variable Annuities
The Financial Industry Regulatory Authority has fined MetLife Securities, Inc., $20 million and ordered it to pay $5 million to customers for making what the regulator determined were negligent material misrepresentations and omissions on variable annuity replacement applications for tens of thousands of customers. Read More
In the States
Florida Regulator Approves Removal of Up to 15,000 Additional Policies from Citizens Property Insurance
The Florida Office of Insurance Regulation has approved the removal of up to 15,000 additional personal residential policies from Citizens Property Insurance Corporation for the July 19, 2016 take-out period. Read More |
View All Legislative/Regulatory Developments |
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| London Market Group Appoints Nicolas Aubert New Chair Read More |
QBE North America Appoints John Burkhart as Head of Management Liability & Professional Lines Read More |
Guardian Offers Voluntary Permanent Life Insurance Coverage Read More |
XL Catlin Promotes Carrie Huang to Underwriting Manager for War, Terrorism, and Political Violence Insurance for Asia Read More |
FC&S Legal Publishes “2015 Excess and Surplus Lines Laws: Puerto Rico” Read More |
View All Industry News |
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INSURANCE COVERAGE
LAW REPORT |
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View Entire Spring 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, 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
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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