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TODAY'S TOP DEVELOPMENTS |
Thursday, June 2, 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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Financial Institution Bond Eighth Circuit: Financial Institution Bond Covered Damage from Malware That Allowed Third Party to Transfer Bank's Funds to Foreign Account
The U.S. Court of Appeals for the Eighth Circuit, affirming a decision by the U.S. District Court for the District of Minnesota, has ruled that a financial institution bond covered losses suffered by a bank when its computer became infected with malware, allowing a criminal third party to transfer $485,000 from the bank to a foreign bank account. Read More
Automobile Insurance
Delaware Supreme: PIP Benefits Payable to Student Injured Crossing Street to Board School Bus
The Delaware Supreme Court, affirming a trial court's decision, has ruled that a school bus was involved in an accident when the driver signaled to a student that she should cross the street to board the bus and she was struck by another vehicle, and that the student was entitled to personal injury protection benefits. Read More
Verdicts & Settlements
Cemetery Director Who Claimed Piping at Work Site Was Dangerous Is Awarded $400,000
A cemetery director who alleged that he had been injured at a construction site at a cemetery has been awarded $400,000. Read More
Eye on the Experts
Colorado Supreme Court: Insurers Need Not Show Prejudice to Enforce No-Voluntary-Payments Provision of Insurance Policy
This Eye on the Experts article discusses a recent Colorado Supreme Court decision holding that insurers need not demonstrate prejudice in order to enforce the "no-voluntary-payments" provision of insurance policies that would result in the denial of insurance coverage. Read More |
View All Case Law Developments |
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In the States
Oklahoma Insurance Commissioner Raises Competitiveness Concerns After Data Reveals Four Insurers Have 55 Percent of Oklahoma Earthquake Market
At a hearing on earthquake insurance organized at the behest of Oklahoma Insurance Commissioner John D. Doak after insurance carriers "filed significant rate increases, dropped lower deductible options or decided to stop writing new earthquake insurance policies," Commissioner Doak revealed that four insurance companies have 55 percent of the Oklahoma earthquake insurance market. Read More
In the States
Pharmacy to Pay $478,000 in Restitution and Damages in Settlement with New York
Vascuscript, Inc., d/b/a Mobile Pharmacy Solutions, has reached a settlement with New York State Attorney General Eric T. Schneiderman resolving allegations that it billed Medicaid for prescriptions that were written by an excluded Medicaid provider. Read More |
View All Legislative/Regulatory Developments |
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AIG Launches New Equity Crowdfunding Insurance Product Read More |
Berkshire Hathaway Specialty Insurance Names Jeff Meyer and Michael Hopkins to Lead Medical Stop Loss Sales in the U.S. Read More |
XL Catlin Enhances Contractor's Professional and Pollution Legal Liability Insurance with Rectification Expense Coverage Read More |
AXA Group Divests Tobacco Industry Assets Read More |
Toyota and Uber to Explore Ridesharing Collaboration 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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