Specialty Lines
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February 08, 2024
Texas Adjuster No Longer To Pretend To Be Lloyd's Of London
An insurance adjuster who hijacked the good name of British underwriting giant Lloyd's of London after blaming it for lost compensation agreed in Texas federal court to shut down businesses he opened in its name.
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February 08, 2024
9th Circ. Affirms Hiscox's Win In Design Co. CEO Fraud Row
Hiscox Insurance Co. does not have to cover a design and marketing company's $850,000 arbitration award to a former CEO over alleged fraud, the Ninth Circuit ruled Thursday, finding that the arbitrator's decision qualified as a final adjudication that triggered a fraud exclusion in its policy.
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February 08, 2024
11th Circ. Rejects $60M Liposuction Death Coverage Plea
The Eleventh Circuit affirmed on Thursday a district court's decision rejecting a man's request to recover a $60 million judgment from a medical practice's insurer for a liposuction-related death, finding that the practice's coverage was already diminished to the point of exhaustion.
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February 08, 2024
Insurance Orgs. Say Bill Would Prevent CFPB Overreach
Bipartisan legislation seeking to clarify the powers of the Consumer Financial Protection Bureau has drawn support from insurance regulators and industry trade groups who say the bureau has encroached upon state-based insurance regulation despite clear statutory limitations.
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February 08, 2024
Broker Hit With Suit Over Data Breach Affecting 1.5 Million
A California insurance broker is facing a proposed class action filed Thursday in federal court accusing the company of failing to keep the health and personal information of more than 1.5 million customers safe from exposure in an August cyberattack.
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February 08, 2024
NYC Jet Skier's Death Suit Not Covered, Insurer Says
A jet ski tour company's row with the estate of a customer who died while on a tour does not qualify for defense or indemnity coverage, the company's insurer argued to a New York federal court, asserting that the company's alleged errors and omissions preclude coverage under its policy.
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February 08, 2024
Insurer Improperly Settled Shooting Claims, Court Told
A Seattle-based housing provider said its primary insurer improperly tendered policy limits to settle two underlying claims alleging the provider was liable for deadly shootings near its apartment buildings in Georgia, telling a Washington state court that its insurer's actions have diluted its coverage for other claims.
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February 07, 2024
Insurer Ducks Some Coverage Of Dredge Tank Defect Suit
A Wisconsin federal judge Wednesday ruled partially in favor of an insurer seeking a declaration that it needn't cover a metal fabricator's defense in an underlying arbitration over allegedly defective dredge tanks.
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February 07, 2024
Insurer's Suit Over Class Action Coverage Early, Covisint Says
An insurer's lawsuit seeking to dodge coverage for an underlying shareholder class action alleging an unfair merger should be dismissed, former Covisint executives told a Michigan federal court, saying the issue of coverage is not ripe for dispute.
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February 07, 2024
NC Panel Reverses Doctor's Malpractice Coverage Win
The North Carolina Court of Appeals reversed a trial court’s decision that found a doctor was entitled to defense coverage under his medical malpractice policy for a state medical board investigation, ruling that the doctor failed to timely notify the insurer of the investigation and therefore did not deserve coverage.
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February 07, 2024
Travelers Must Cover $2M Tainted Benzene Load, Co. Says
A multinational chemical company accused Travelers in New York federal court of unreasonably denying coverage for over $2.1 million it lost from a contaminated benzene shipment, saying the insurer must also cover costs incurred from suing at-fault parties since it further evaded its subrogation obligations.
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February 07, 2024
Life Insurance Managers Botched Policy Surrender, Suit Says
A group of financial insurance advisory companies mishandled the surrender of a life insurance policy and caused the beneficiary to lose more than $300,000 in benefits, the beneficiary told a New Jersey federal court.
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February 06, 2024
Investment Report Shows Cost Of Delaying Climate Action
Insurers could face billions of dollars in losses if they continue with their current courses of investments that contribute to climate change, according to a new analysis by insurance regulators from California, Oregon and Washington.
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February 06, 2024
AIG Owes Coverage In $5.4M Contamination Suit, Co. Says
A Houston-based plastics manufacturer told a Texas federal court that an AIG unit must defend and indemnify it in a $5.4 million lawsuit over contaminated plastic containers, saying the insurer has failed to tender defense costs despite agreeing to defend the company almost a year ago.
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February 06, 2024
Insurer Says Claims NJ Diocese Knew Of Abuse Bar Coverage
An insurer doesn't have to indemnify the Diocese of Trenton in over 200 lawsuits alleging sexual molestation by diocese clergy, it told a New Jersey federal court, maintaining that the underlying suits asserted that the diocese had knowledge of the incidents.
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February 06, 2024
Chubb Unit Must Cover Lightning-Struck Yacht, Court Told
A yacht's former owner told a Florida federal court that a Chubb unit breached its contract by not paying for damage that occurred after the $13.5 million vessel was struck by lightning while headed for repairs for flooding caused by a toilet valve malfunction.
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February 06, 2024
Wealth Co. Says Insurers Owe Coverage In Meth Suits
A Seattle wealth management company told a Washington state court that its insurers have improperly withheld defense coverage for underlying suits alleging a trust beneficiary harmed his condominium neighbors by using and manufacturing meth.
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February 05, 2024
Insurer, Pharmacy Settle Horse Death Coverage Dispute
A coverage dispute between an insurer and a veterinary pharmacy over defense and indemnity for an underlying action involving the deaths of two horses was settled between the two parties Monday in Texas federal court.
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February 05, 2024
Fla. Legislative Session: Property Insurance Bills Roundup
Florida lawmakers have put forward dozens of proposals to address insurance challenges in the state, from a bill that would expand coverage from the state's last resort insurer to another that contemplates mangroves as bulwarks against flooding.
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February 05, 2024
JCPenney Cardholder's Proposed $5M Insurance Suit Fails
A JCPenney credit card holder who bought health insurance through a promotion tied to the card lost her bid in Mississippi federal court Monday to continue her $5 million proposed class action over what she believed were intentional delays in paying for her hospital stay.
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February 05, 2024
No CGL Coverage For Home Depot Data Breach, 6th Circ. Told
Two insurers have told the Sixth Circuit they owe no commercial general liability coverage to Home Depot for its $172 million settlement with financial institutions over a 2014 breach of customer payment information, arguing an electronic data exclusion wholly barred coverage for the institutions' claimed losses.
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February 05, 2024
Berkley Wants Out Of Defending Atty In $750K Trust Dispute
An insurer told an Illinois federal court it doesn't owe defense or indemnification to an insured attorney in an underlying action from a trust alleging it's owed more than $750,000 in overdue payments, arguing there is no coverage for the trust's suit in the attorney's firm's policy.
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February 02, 2024
Insurance Coverage Excluded In Condo Sale, 11th Circ. Told
An insurance company urged the Eleventh Circuit on Friday to reverse a lower-court decision forcing it to provide coverage in a Florida condominium sale gone wrong, saying it was excluded from defending a claim against a real estate agent accused of converting the transaction's proceeds.
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February 02, 2024
Calif. Rate Approvals Centered In Coverage Crisis Debate
A California law permitting public challenges to proposed premium increases is saving policyholders billions of dollars, a consumer advocacy group recently reported, a claim that has drawn scorn from industry professionals amid efforts to change the law to better favor carriers.
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February 02, 2024
Insurer Can't Forum Shop For Living Facility Row, Co. Says
A successor in interest to a $1 million judgment against an assisted living facility accused the facility's insurer of forum shopping to free itself from paying out the judgment, telling an Oklahoma federal court that the insurer's federal suit is duplicative of an existing state court garnishment action.
Expert Analysis
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How Cos. Can Adapt To Insurance Industry After COVID-19
Policyholders should maintain diligence, carefully assess risks, and thoughtfully rebalance risk transfer and mitigation strategies in order to weather the pandemic's long-term impact on the insurance industry, says Daniel Struck at Culhane Meadows.
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'Notice Of Circumstances' May Preempt Virus Insurance Denial
Insurance policyholders impacted by COVID-19 should consider proactively sending notices of circumstances to their insurers in order to preempt new pandemic policy exclusions, although this tactic carries certain risks as well, say Richard Milone and Jennifer Romeo at Milone Law Firm.
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Maximize Chances Of Insurance Coverage For COVID-19
Policyholders suffering losses related to COVID-19 can take steps right now, such as documenting proof of loss and mitigation efforts, to preserve their chances of recovery under property or business interruption insurance policies, says Creighton Page at Foley Hoag.
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D&O Insurance Tips For Coronavirus-Related Claims
Directors and officers liability insurance may prove to be a source of relief for public companies battling shareholder claims stemming from the coronavirus pandemic, depending on specific language and exclusions that must be carefully reviewed, say Catherine Doyle and Jan Larson at Jenner & Block.
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COVID-19 Claims Reach Entire Insurance Coverage Spectrum
Excerpt from Practical Guidance
COVID-19's impact on public health and business is triggering a barrage of insurance claims across virtually all traditional coverage areas, with each type of policy featuring unique weaknesses, says LexisNexis insurance consultant Karen Yotis.
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Delaware Dole Ruling Will Guide Allocation In D&O Policies
In a dispute between Dole Food and certain excess insurers of a directors and officers insurance policy, the Delaware Supreme Court recently interpreted an explicit allocation provision and articulated a rule that will instruct both insurers and insureds, say Brian Scarbrough and Huiyi Chen at Jenner & Block.
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8 Possible Paths To Insurance Coverage For COVID-19 Losses
At least some insurance policies are almost certain to apply to coronavirus-related losses, and a few hypothetical situations explain how, say attorneys at Covington.
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NJ Cos. May Have Insurance Coverage For COVID-19 Losses
Two New Jersey cases from 2009 and 2014 indicate that the physical injury requirement under property insurance policies may be interpreted broadly enough to apply to losses resulting from the coronavirus crisis, say Robert Chesler and Nicholas Insua at Anderson Kill.
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Dealing With D&O Liability Caused By COVID-19 Pandemic
As directors and officers face compliance challenges in fulfilling their fiduciary duties amid the coronavirus outbreak, they must be mindful of U.S. Securities and Exchange Commission requirements — despite recent filing deadline relief — and D&O insurance considerations, say attorneys at Kelley Drye.
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Insurance Ruling Handles Ransomware Coverage Logically
A Maryland federal judge's recent decision in National Ink and Stitch v. State Auto is among the first to hold that a business owner's insurance policy covered ransomware attack losses, utilizing well-reasoned analysis to demonstrate that coverage for cyberrisks can be found in traditional insurance contracts, say attorneys at Jaszczuk.
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11th Circ. Insurance Ruling Views Cybercrime Realistically
The Eleventh Circuit's recent opinion in Principle Solutions v. Ironshore demonstrates courts' willingness to adopt a reasonable view of insurance coverage for cybercrime, while the dissent serves as a warning against outdated provisions, say Patrick Cordova and Caroline Meneau of Jenner & Block.
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Judging A Book: Dyk Reviews 'Democracy And Equality'
In their new book "Democracy and Equality: The Enduring Constitutional Vision of the Warren Court," Geoffrey Stone and David Strauss provide valuable context for U.S. Supreme Court decisions under Chief Justice Earl Warren that have profoundly affected the country, but their overly protective attitude sometimes obscures reality, says Federal Circuit Judge Timothy Dyk.
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Digital Asset Regulation Poses Challenges For Insurers
The insurance industry is grappling with how to interpret and apply traditional insurance products to the recent string of enforcement actions and litigation related to initial coin offerings, say Jennifer Odrobina of Sompo International and David Buishas of BatesCarey.