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TODAY'S TOP DEVELOPMENTS Thursday, May 11, 2017     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 Commercial General Liability CFO's Alleged Fraud Had Not Resulted in "Property Damage" Caused by "Occurrence," Wisconsin Appeals Court Holds An appellate court in Wisconsin has ruled that a bank's lawsuit alleging that its borrower's chief financial officer had engaged in fraud, leading to losses to the bank when the borrower failed to repay its loans, did not assert "property damage" caused by an "occurrence" for purposes of the borrower's commercial general liability insurance policy.  Read More Automobile Insurance Appeals Court Reinstates Plaintiffs' Suit Against Insurer Because Insured Was in Bankruptcy A Tennessee appeals court has reinstated a lawsuit against an insurer and its insured, ruling that the plaintiffs had timely served the insured because her bankruptcy filing had stayed the running of the statute of limitations.   Read More Verdicts & Settlements Plaintiffs' Other Accidents Cited by Defense in Auto Injury Suit A jury has awarded $50,000 to a plaintiff in an auto accident case where the defense contended that other accidents involving the plaintiff had caused her injuries.   Read More Superstorm Sandy Policy Barred Late-Filed Superstorm Sandy Suit, Even If Insured Had Not Been Told of Time Limit, Delaware Court Rules A Delaware trial court has dismissed an insured's Superstorm Sandy coverage suit against its insurer as late-filed under the policy's suit limitations clause, rejecting the insured's contention that the clause could not be enforced because the insurer had not notified it of the shortened limitations period. Read More View All Case Law Developments    LEGISLATIVE/REGULATORY Alternative Risk and Captives Vermont Governor Phil Scott Signs Updated Captive Insurance Legislation Vermont Governor Phil Scott has signed into law new captive insurance legislation affecting a variety of areas, including accounting principles, governance standards, expanded dormancy qualifications, and the addition of agency captives.  Read More Inland Marine California Insurance Commissioner Approves Reduced Rates for State Farm Inland Marine Policies California Insurance Commissioner Dave Jones has approved rate reductions for two State Farm inland marine policies that, he said in a statement, "will bring millions of dollars in premium savings for tens of thousands of boat owners and homeowners with jewelry and higher value collections."   Read More View All Legislative/Regulatory Developments      INDUSTRY NEWS AXA to IPO Its U.S. Operations   Read More New York City Real Estate Buyers Spent $81.2 Million in Excess Title Insurance Premiums and Fees in 2016, Study Asserts   Read More AIG Report Finds 23 Percent of Deals Over $1 Billion Ended in a Claim; Highest Severity Claim Payouts Averaged $22 Million   Read More Hamilton Re Agrees to Acquire Canopius Excess Casualty Insurance Renewal Rights   Read More FC&S Legal Publishes "Need for Cyberinsurance Coverage in the Health Care Industry"   Read More View All Industry News   Discussion In a Hit and Run, Direct Physical Contact May Not be Necessary for Coverage Browse our entire library of over 2,500 insurance resources and forms.    INSURANCE COVERAGE  LAW REPORT View Entire Spring Insurance Coverage Law Report   View Insurance Coverage Law Report Archives   Steven A. Meyerowitz, ESQ. Director, FC&S Legal smeyerowitz@alm.com Victoria Prussen Spears, ESQ. Associate Director, FC&S Legal vspears@alm.com 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. 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 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. FC&S Legal: The Insurance Coverage Law Information Center    LinkedIn   To ensure future delivery of email, please add admin@list.nationalunderwriter.com to your address book, contacts or safe sender list. You have received this email at %%merge members_.emailaddr_%%. Click here to unsubscribe from %%merge list.descshort%%. Copyright © 2016 ALM Media, LLC. All rights reserved. Privacy Policy 4157 Olympic Blvd., Suite 225 Erlanger, KY 41018 1-800-543-0874