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TODAY'S TOP DEVELOPMENTS Thursday, August 7, 2014   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 Automobile Insurance The Widow's Lament: Missouri Supreme Court Applies "Owned-Vehicle" Partial Exclusion in Couple's Policies The Missouri Supreme Court, affirming a lower court's decision, has ruled that the uninsured motorist ("UM") coverage available to the widow of a man killed in an automobile accident was limited by an "owned-vehicle" partial exclusion in the couple's policies, which limited coverage when an insured was injured while occupying a vehicle owned by the insured but not covered by the policy. The court concluded that although the widow was an insured, she was not entitled to UM coverage because she had not sustained bodily injuries, and the partial exclusion limited the coverage available for her husband's wrongful death. Read More Business Owners Insurer that Regularly Accepted Insufficient Premium Payments and Threatened to Cancel the Policy - But Did Not - Is Estopped from Denying Coverage An appellate court in Wisconsin, affirming a trial court's decision, has ruled that an insurance carrier's "pattern of regularly accepting insufficient payments and threatening cancellation without ever cancelling the policy" was sufficient to equitably estop it from retroactively denying coverage two days after a fire loss at the insured commercial property. Read More Fire Insurance Fire Policy's "Protective Devices" Exclusion Was Ambiguous and Unenforceable, Court Rules A federal district court in Michigan has ruled that an exclusion requiring an insured to maintain "protective devices" was ambiguous and not part of a commercial building fire insurance policy. As a consequence, the court decided, the insurance company was obligated to pay for the insured's loss even though the insured building did not have an automatic sprinkler system. Read More Workers Compensation Michigan Court Limits First Insurer's Liability for Wage-Loss Benefits Attributable to Employee's Second Disabling Injury A Michigan court has ruled that, when a first injury partially disables an employee, that employee resumes working, but then suffers a second disabling injury, the first insurance carrier is not liable for wage-loss benefits attributable to the second disabling injury. Read More View All Case Law Developments    LEGISLATIVE/REGULATORY In the States New York Regulator Reviewing "Troubling" Force-Placed Insurance Transaction Involving an Ocwen Financial Affiliate The New York Department of Financial Services has sent a letter to Timothy Hayes, the general counsel of Ocwen Financial Corporation, to inform Ocwen that, as part of the DFS's "ongoing examination of Ocwen's mortgage servicing practices," the DFS is reviewing a "troubling transaction" involving an Ocwen affiliate, Altisource Portfolio Solutions, S.A., and the provision of force-placed insurance. Read More Eye on the Experts Rector-Modified Recommendations to NAIC Task Force on Financing of XXX and AXXX Reserves In this Eye on the Experts article, the authors describe the Rector Report framework and security requirements as modified in June 2014, the proposed NAIC implementation steps, and the key changes from the Rector Report that came out in February. Read More View All Legislative/Regulatory Developments      INDUSTRY NEWS "Liberty Mutual Achieves Total Knockout of Progressive Patents in Series of Post-Grant CBM Proceedings" is Published in FC&S Legal's Flagship Publication, the Insurance Coverage Law Report Read More NY-Based Insurer First Rehabilitation Life Changes Name to Shelterpoint Life Read More Primary Texting Bans Associated with Lower Traffic Fatalities, Study Finds Read More Guardian Completes Premier Access Acquisition Read More Nelson Levine Changes Name and Announces Operational Changes Read More View All Industry News   Discussion Net Operating Losses and Business Income Insurance Browse our entire library of over 2,500 insurance resources and forms.    INSURANCE COVERAGE  LAW REPORT View Entire August Insurance Coverage Law Report   View Insurance Coverage Law Report Archives   Steven A. Meyerowitz, ESQ. Director, FC&S Legal smeyerowitz@SummitProNets.com Victoria Prussen Spears, ESQ. Associate Director, FC&S Legal vspears@SummitProNets.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 Donald S. Malecki, Malecki, Deimling, Nielander & Associates, LLC Cort T. Malone, Anderson Kill & Olick, P.C. 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 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. 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