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TODAY'S TOP DEVELOPMENTS Wednesday October 15, 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 Cyberliability Bank's Refund to Customer, Pursuant to State Law, for Unauthorized Wire Transfers Was Not a "Voluntary" Payment Under Its Insurance Policy, Pennsylvania District Court Decides The U.S. District Court for the Western District of Pennsylvania has ruled that a refund made by a bank as required by Pennsylvania law to a customer for unauthorized wire transfers was not a voluntary payment for purposes of the bank's insurance policy and, therefore, did not implicate the policy's "Defense and Settlement" provision to bar coverage of the bank's claim under its policy. Read More Commercial Auto Underlying Plaintiff Did Not Have Standing to Bring Negligent Procurement Claim Against Insurance Agent, Federal District Court in Ohio Rules A federal district court in Ohio has ruled that, under Ohio law, an underlying plaintiff did not have standing to bring a negligent procurement claim against the insurance agent who had obtained an insurance policy for the defendant insured in the underlying action. Read More Commercial General Liability Eighth Circuit, Applying "Dual Purpose" Test under Missouri Law, Finds that LLC's Managing Member Had Not Been Using Non-Owned Auto in the Course of LLC's Business The U.S. Court of Appeals for the Eighth Circuit, reversing a Missouri federal district court's decision and applying a "dual purpose" test, has ruled that a managing member of a limited liability company had not been using a "non-owned" auto "in the course of" the LLC's business, and that, accordingly, there was no coverage for claims brought against the LLC arising from an auto accident involving the auto. Read More Commercial General Liability Mortgagees' Full Credit Bid at Foreclosure Sale under Their Second Deed of Trust Precluded Their Insurance Claim for Pre-Foreclosure Damages, California Appeals Court Rules An appellate court in California has ruled that mortgagees who made a full credit bid at a foreclosure sale under their second deed of trust could not make a claim on insurance proceeds for pre-foreclosure damage to the property. Read More View All Case Law Developments    LEGISLATIVE/REGULATORY Federal Actions SEC Charges Four Insurance Agents with Securities Fraud for Allegedly Targeting Elderly Investors Four insurance agents have been charged by the Securities and Exchange Commission for unlawfully selling securities in what the SEC alleged was a multi-million dollar offering fraud targeting elderly investors. Read More Health Insurance Jeffrey M. Kissel Named Executive Director of Hawaii's Health Insurance Marketplace The Hawaii Health Connector board of directors has chosen Jeffrey M. Kissel as the new executive director of the state's health insurance marketplace – the marketplace's third executive director in the past year. Read More View All Legislative/Regulatory Developments      INDUSTRY NEWS Satisfaction with Insurance Claims Settlements Not Enough to Keep Customers Loyal, According to Accenture Survey Read More Amlin Appoints Louis de Segonzac to Head Its New Miami Reinsurance Office Read More Advisen Names Bill Keogh CEO Read More Feds Find "Serious Deficiencies" in Coverage under Medicare Health Insurance Plans, NY Times Reports Read More Next Major San Francisco Earthquake Could Result in Over $200 Billion in Losses, RMS Says Read More View All Industry News   Form Analysis The Business Income Report/Worksheet—Step by Step Browse our entire library of over 2,500 insurance resources and forms.    INSURANCE COVERAGE  LAW REPORT View Entire October/November 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. 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@SummitProNets.com. FC&S Legal: The Insurance Coverage Law Information Center    LinkedIn   To ensure future delivery of email, please add admin@list.nationalunderwriter.com to your address book, contacts or safe sender list. You have received this email at %%merge members_.emailaddr_%%. Click here to unsubscribe from %%merge list.descshort%%. ©2014 Summit Professional Networks, All rights reserved. Privacy Policy 4157 Olympic Blvd., Suite 225 Erlanger, KY 41018 1-800-543-0874