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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.


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

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
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
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.

View Entire Spring Insurance Coverage Law Report
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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
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 To subscribe to FC&S Legal, please contact customer service at 1-800-543-0874 or

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