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TODAY'S TOP DEVELOPMENTS Thursday, June 2, 2016  

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.


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

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
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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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

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