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TODAY'S TOP DEVELOPMENTS |
Tuesday, June 30, 2015 |
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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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Crime and Employee Dishonesty
Notice-Prejudice Rule Did Not Apply to Fidelity Bond, Colorado District Court Holds
A federal district court in Colorado has ruled that the notice-prejudice rule did not apply to a fidelity bond. Read More
Crime and Employee Dishonesty
Fidelity Bond Covered Bank's Loss from Advance Money Scam, Eighth Circuit Rules
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 fidelity bond covered a settlement that a bank reached with two individuals a bank employee induced to invest in an advance money scam. Read More
Commercial Property
New Hampshire Hospital's Bid for Communicable Disease and Crisis Management Coverage Fails
The possible contamination of surgical instruments after exposure to a communicable neurological disease did not lead to coverage under either the communicable disease or crisis management portion of a commercial property insurance policy issued to a hospital where the entire premises had not been disinfected, decontaminated, or evacuated, a New Hampshire federal district court has ruled. Read More
Exclusions
Ninth Circuit: Damage from Mites Was Excluded from Coverage by Policy's Vermin Exclusion
The U.S. Court of Appeals for the Ninth Circuit, affirming a decision by the U.S. District Court for the Eastern District of California, has ruled that "mites" were the "paradigmatic example of 'vermin'" for purposes of a policy exclusion to a farm owner's insurance policy. Read More |
View All Case Law Developments |
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Federal Actions
Mortgage Lender Illegally Referred Consumers to Mortgage Insurers in Exchange for Kickbacks, Consumer Financial Protection Bureau Finds
The director of the federal Consumer Financial Protection Bureau ("CFPB"), Richard Cordray, has issued a decision in the first appeal of a CFPB administrative enforcement proceeding and has concluded that PHH Corp., a mortgage lender, illegally referred consumers to mortgage insurers in exchange for kickbacks. Read More
Claims Resolution
Lloyds Banking Group Fined £117 Million for Failing to Handle Payment Protection Insurance Complaints Fairly
The United Kingdom's Financial Conduct Authority has issued its largest ever retail fine – £117 million – to Lloyds Bank Plc, Bank of Scotland Plc, and Black Horse Ltd, for failing to treat their customers fairly when handling payment protection insurance complaints between March 2012 and May 2013. Read More |
View All Legislative/Regulatory Developments |
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W. R. Berkley Appoints Matthew M. Ricciardi Senior Vice President and General Counsel Read More |
ProSight Specialty Insurance Launches Drone Insurance Coverage Read More |
Michael Tipsord to Become CEO of State Farm in September; Edward B. Rust Jr. to Step Down Read More |
Dickie, McCamey & Chilcote Hires Insurance Attorneys Beverly M. Barr, Dorothy T. Daly, and Eric D. Walstrom Read More |
Essent Names Joseph G. Hissong President of Essent Reinsurance and Paul C. Wollmann Chief Underwriting Officer Read More |
View All Industry News |
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INSURANCE COVERAGE
LAW REPORT |
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View Entire May / June 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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