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Insurance
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September 17, 2024
Lawyer Cleared Of Dishonesty Over Insurance Failure
A solicitor was cleared of dishonesty on Tuesday after he was accused of lying to his insurer to hide the acquisition by his company of another firm's work and staff after his insurer refused to offer cover for the change.
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September 17, 2024
70% Of Insurance Underwriters Fear Replacement By AI
Seven out of 10 insurance underwriting professionals in the U.S. and U.K. fear losing their jobs within the next five years to artificial intelligence, a survey released Tuesday suggested, as the sector increasingly invests in new forms of automation.
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September 16, 2024
TIAA Faces Class Claims Over 2023 Cyberattack
The Teachers Insurance Annuity Association of America and its life insurance subsidiary were sued in New York federal court by a proposed class alleging the company failed to protect the personal data of current and former clients and allowed a 2023 data breach.
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September 16, 2024
Fla. Condo Settles With Insurer Over Hurricane Ian Damage
A Florida condominium association seeking more than $1 million in coverage for property damage caused by a 2022 hurricane has settled with insurer Clear Blue Specialty Insurance Co.
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September 16, 2024
Insurers Bring Curtain Down On 'Cats' Tour Injury Dispute
Two insurers agreed to settle a dispute in Massachusetts federal court over coverage for a touring production of "Cats" at a Rhode Island theater where an employee was severely injured by set equipment.
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September 16, 2024
9th Circ. Won't Review Tribal Jurisdiction In Virus Suit
An en banc panel of the Ninth Circuit on Monday upheld a panel's finding that the Suquamish Tribal Court has jurisdiction over the tribe's coronavirus coverage dispute with its insurers, though a dissent claimed the panel decision "gutted any geographic limits of tribal court jurisdiction."
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September 16, 2024
DLA Guides Software Biz Netcall On €8.7M Acquisition
Automation software business Netcall PLC said Monday it has bought Belgian document processing company Parble for €8.7 million ($9.7 million), advised by DLA Piper Belgium, a move it expects will bolster its presence outside the U.K.
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September 16, 2024
Finnish Insurer Boosts Buyback To €475M, Extends End Date
Sampo PLC said Monday that it will raise its €400 million ($445 million) share buyback program by €75 million, as the Finnish insurer moves to acquire all the stock it does not already hold in Danish rival Topdanmark AS.
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September 16, 2024
Insurer Phoenix Group Cancels Plan To Sell SunLife
Phoenix Group Holdings PLC said Monday that it has decided to call off the proposed sale of SunLife Ltd. months after it decided to sell the unit, which provides financial services to over 50s in the U.K.
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September 16, 2024
IRS Floats Definition Of 'Covered Month' For Premium Credit
The IRS on Monday proposed expanding the definition of a "covered month" for purposes of the health insurance premium tax credit to include the first month of the grace period for which an individual does not pay the premium in full but still receives coverage.
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September 16, 2024
Kennedys Adds 2 Knowledge Management Pros In London
Kennedys said on Monday it has boosted its back-office technology and knowledge management teams with the hire of two experienced experts in legal procedures and practices and IT.
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September 16, 2024
Global IT Outage Could 'Create New Types' Of Cyber-Cover
Global IT disruption caused this summer by a botched update to CrowdStrike, the technology platform, might fuel calls for a more comprehensive form of cyber-cover, a financial consultancy said Monday, after businesses met with little success when they claimed on their policies.
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September 16, 2024
7 Million UK Private Sector Workers Facing Pensions Crisis
The retirement incomes of 40% of employees in the private sector are on track to fail to provide sufficient money to give them a decent standard of living, a report by a think tank said Monday.
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September 13, 2024
The 2024 Regional Powerhouses
The law firms on Law360's list of 2024 Regional Powerhouses reflected the local peculiarities of their states while often representing clients in deals and cases that captured national attention.
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September 13, 2024
Conn. High Court Snapshot: Firm's Bill Battle Rages In Sept.
The Connecticut Supreme Court's September case lineup tasks the justices with helping a federal court judge decide if McCarter & English LLP can fetch punitive damages in a billing battle with an ex-client, and if parents suing Target and others can be compensated for the impairment of their relationship with their injured child. Here, Law360 previews some highlights of the high court's argument schedule for the month.
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September 13, 2024
23andMe Inks $30M Data Breach Deal With 6.4M Users In MDL
Personal genomics company 23andMe has reached a $30 million settlement to resolve multidistrict class action litigation on behalf of more than 6 million customers whose personal data was stolen and in some cases leaked onto the dark web, according to a California federal court filing Thursday.
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September 13, 2024
Insurer Says Ga. Club's Coverage Ends When Guns Come Out
Trisura Specialty Insurance Co. has asked a Georgia federal court to rule that it should not be held liable for claims arising from a January 2022 shooting at a bar that injured several patrons.
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September 13, 2024
Kennedys Hires Cyber, AI Pro From Addleshaw In London
Kennedys Law LLP has recruited a data protection, cybersecurity and artificial intelligence specialist from Addleshaw Goddard LLP as a partner in London, with the new arrival saying Friday she made the switch to take advantage of the firm's global reach.
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September 13, 2024
Trio Of BigLaw Mergers Expected To Drive More Deal Talks
After months of a relatively steady pace of law firm mergers and acquisitions, the trio of proposed BigLaw tie-ups announced in recent days will likely spur more firms toward entertaining similar deal talks, experts say. Here, Law360 offers a snapshot of the proposed deals.
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September 13, 2024
USC Sex Abuse Coverage Dispute Dropped After Doc's Death
The University of Southern California and several of its insurers dropped a dispute over coverage for sexual assault allegations against disgraced gynecologist Dr. George Tyndall, which comes after the death of the doctor in October 2023.
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September 13, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen a football agent sue Chelsea FC after being cleared of allegations he threatened the club’s former director, an ongoing patent dispute between Amgen and Regeneron Pharmaceuticals, and a private school in Edinburgh suing Riverstone Insurance over compensation claims tied to historical abuse allegations made by former pupils. Here, Law360 looks at these and other new claims in the U.K.
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September 13, 2024
Freeths Hires McNulty As Pensions Director In London
Freeths LLP has appointed Sean McNulty, a former legal director at Blake Morgan as a pensions director in its London office, a move it believes will bolster its retirement income business.
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September 13, 2024
FCA Faces Pressure Over Pricey Monthly Insurance Premiums
A consumer advocacy group urged the British financial regulator on Friday to step in after it found that insurers were still charging up to 45% in interest for consumers who choose monthly payment plans for their annual premiums.
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September 13, 2024
Brokers Seek Insurance Tax Cut In Budget For At-Risk Housing
A trade body for insurance brokers has urged the U.K. government to exempt policyholders in apartment buildings with flammable cladding from a tax on premiums, as it seeks to avoid a jump in the price of cover.
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September 12, 2024
Towers Watson Can't Duck Bump-Up Exclusion, 4th Circ. Told
Towers Watson's latest effort to get its directors and officers insurers to fund a $75 million settlement in a shareholder suit over its merger with Willis should be tossed, the insurers told the Fourth Circuit, saying the bump-up exclusion unambiguously applies to bar coverage.
Expert Analysis
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Series
Cheering In The NFL Makes Me A Better Lawyer
Balancing my time between a BigLaw career and my role as an NFL cheerleader has taught me that pursuing your passions outside of work is not a distraction, but rather an opportunity to harness important skills that can positively affect how you approach work and view success in your career, says Rachel Schuster at Sheppard Mullin.
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A Rare Look At Judicial Interpretation Of LEG Exclusions
A Florida federal court’s order last month in Archer Western-De Moya v. Ace American Insurance and an earlier decision from a D.C. federal court offer insight into how courts may interpret defects exclusion clauses developed by the London Engineering Group — filling a void in case law in the area, says Jonathan Bruce at Holman Fenwick.
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Series
ESG Around The World: Gulf Cooperation Council
The Gulf Cooperation Council is in the early stages of ESG policy implementation, but recent commitments by both states and corporations — including increases in sustainable finance transactions, environmental commitments, female representation on boards and human rights enforcement — show continuing progress toward broader ESG goals, say attorneys at Cleary.
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6 Pointers For Attys To Build Trust, Credibility On Social Media
In an era of information overload, attorneys can use social media strategically — from making infographics to leveraging targeted advertising — to cut through the noise and establish a reputation among current and potential clients, says Marly Broudie at SocialEyes Communications.
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Justices Stay The Course In Maritime Choice-Of-Law Ruling
The U.S. Supreme Court's narrowly drawn decision in Great Lakes Insurance v. Raiders Retreat Realty, enforcing the underlying insurance contract's choice-of-law provision, carefully distinguishes those provisions from forum selection clauses, and ensures that courts will not apply its precepts outside the maritime context, says John Coyle at the University of North Carolina.
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Key Lessons After A Rare R&W Insurance Ruling
The recent New York state court decision in Novolex Holdings v. Illinois Union Insurance is noteworthy as one of the rare judicial opinions arising in the context of representations and warranties insurance, serving to remind parties entering into R&W insurance policies that they may not be immune from some doctrines unfavorable to insurers, say attorneys at Kramer Levin.
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SEC Regs Give Banks Chance To Step Up Cyber Safety Game
Just as the Sarbanes-Oxley Act forced financial institutions to undertake best practices in recordkeeping, the U.S. Securities and Exchange Commission’s recently effective cybersecurity regulations stand to similarly drive those same enterprises to seek out and implement best practices in cybersecurity, to everyone's benefit, says James Gerber at SimSpace.
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A Post-Mortem Analysis Of Stroock's Demise
After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.
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Mitigating The Risk Of Post-Closing M&A Earnout Disputes
Today's uncertain deal environment makes a well-crafted earnout an excellent way for parties to accomplish a desired transaction that would not otherwise occur, but transacting parties also need to take key steps to avoid the risk of post-closing disputes that earnouts can present, say Chad Barton and Claire Lydiard at Holland & Knight.
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How VA Court Change Is Affecting Insurance Disputes
The expansion of the Virginia Court of Appeals' jurisdiction to include review of decisions involving insurance coverage stands to significantly grow the body of related case law, likely to the benefit of policyholders, as evident in the recent decision in Bowman II v. State Farm Fire and Casualty Co., say Michael Levine and Olivia Bushman at Hunton.
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Assessing The Future Of Colorado's Economic Loss Rule
The Colorado Supreme Court's decision to review a state appellate court's ruling in Mid-Century Insurance Co. v. HIVE Construction will significantly influence the future of Colorado's economic loss rule, with high stakes for the cost of doing business in the state, says David Holman at Crisham & Holman.
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Series
Coaching High School Wrestling Makes Me A Better Lawyer
Coaching my son’s high school wrestling team has been great fun, but it’s also demonstrated how a legal career can benefit from certain experiences, such as embracing the unknown, studying the rules and engaging with new people, says Richard Davis at Maynard Nexsen.
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What To Know About RWI In Acquisition And Divestiture Deals
As a slower pace of merger activity turns underwriters toward new industries, representations and warranties insurance policies are increasingly being written for acquisition and divestiture energy deals, making it important for contracting parties to understand how the RWI underwriting process works in this new sector, say attorneys at Haynes Boone.
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SG's Office Is Case Study To Help Close Legal Gender Gap
As women continue to be underrepresented in the upper echelons of the legal profession, law firms could learn from the example set by the Office of the Solicitor General, where culture and workplace policies have helped foster greater gender equality, say attorneys at Ocean Tomo.
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SAG-AFTRA Contract Is A Landmark For AI And IP Interplay
SAG-AFTRA's recently ratified contract with the Alliance of Motion Picture and Television Producers introduced a framework to safeguard performers' intellectual property rights and set the stage for future discussions on how those rights interact with artificial intelligence — which should put entertainment businesses on alert for compliance, says Evynne Grover at QBE.