Private Flood Carriers See Opportunity In Federal NFIP Lapse
Private flood insurance executives see a market opportunity for a growing sector of the property and casualty industry as the National Flood Insurance Program remains restricted in its ability to renew or sell flood coverage amid the government shutdown.
Drones May Boost Claim-Handling Efficiency, Carrier Pros Say
As insurance carriers evaluate ways to utilize new technologies in their claims and underwriting processes, the use of drones and aerial imagery has emerged as an opportunity to improve response times and efficiency, specifically in connection with natural disasters, insurer-side experts say.
SEC Changes For Public Cos. Shake Up D&O Coverage Risks
The U.S. Securities and Exchange Commission has enacted or proposed several significant changes to the way public companies are regulated, putting directors and officers coverage risks into unprecedented territory, insurance and securities experts said.
Private Flood Carriers See Opportunity In Federal NFIP Lapse
Private flood insurance executives see a market opportunity for a growing sector of the property and casualty industry as the National Flood Insurance Program remains restricted in its ability to renew or sell flood coverage amid the government shutdown.
Drones May Boost Claim-Handling Efficiency, Carrier Pros Say
As insurance carriers evaluate ways to utilize new technologies in their claims and underwriting processes, the use of drones and aerial imagery has emerged as an opportunity to improve response times and efficiency, specifically in connection with natural disasters, insurer-side experts say.
SEC Changes For Public Cos. Shake Up D&O Coverage Risks
The U.S. Securities and Exchange Commission has enacted or proposed several significant changes to the way public companies are regulated, putting directors and officers coverage risks into unprecedented territory, insurance and securities experts said.
Expert Analysis
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The maritime industry now stands on the verge of a nuclear-powered renaissance, with the need for clean energy, re... (more story)
Hindsight bias — wherein events seem more predictable after the fact than they were beforehand — presents a persis... (more story)
Property More
An AIG unit urged a Florida federal court Thursday to reject a contractor's claims it can't be held liable for more than $1.8 million in coverage payments over a yacht fire caused by dock wiring that lacked gr... (more story)
The Financial Crimes Enforcement Network announced Thursday that it has renewed directives requiring title insurance companies to identify the people behind shell companies in non-financed, residential propert... (more story)
A Georgia federal court has rejected a Chubb unit's sanctions bid in a fire loss coverage dispute, finding that although its insureds failed to adequately join two individual defendants in a broader attempt to... (more story)
A South Carolina school district can't get review of its insurance arbitration dispute, an insurer had a duty to defend a home renovation company in an underlying car crash suit and a State Farm unit needn't p... (more story)
A condominium association said its insurer must provide coverage for more than $8.1 million in hidden water damage, telling a Washington federal court the insurer failed to acknowledge that weather conditions ... (more story)
A smoke shop's insurer told a North Carolina state appeals court the shop shouldn't receive coverage for a lawsuit alleging it's liable for a fatal auto collision because it sold nitrous oxide products to the ... (more story)
A condominium association told the Florida Supreme Court on Tuesday that an insurer can't sue for damages to an owner's unit, arguing a 2021 state law that went into effect provided immunity from a negligence ... (more story)
A title insurer has no duty to pay a mortgage lender's claim over a $510,000 loan a borrower alleged was fraudulent, it told a North Carolina federal court, saying its closing protection letter explicitly excl... (more story)
A Colorado court found that an insurer does not have to cover a $13.4 million construction settlement because it was reached through collusion, an Illinois judge partly reversed a ruling granting biometric pri... (more story)
A Louisiana federal court has temporarily barred a Bermuda-based Chubb unit from pursuing arbitration proceedings in England in a dispute with a hospitality and entertainment company over coverage for pandemic... (more story)
General Liability More
Members of Michigan's Supreme Court on Thursday expressed reservations about an intermediate appellate court's decision that nonresidents who fail to carry Michigan insurance for a vehicle they regularly drive... (more story)
An insurer is seeking a default win in its dispute over coverage for a man's trench injury lawsuit, telling an Illinois federal court Thursday that the man has failed to appear or respond to the coverage action.
A trust established to pay asbestos claimants in Avon's Chapter 11 has urged a Delaware state court to rule that almost 30 insurers must help indemnify more than $225 million of the cosmetics company's talc in... (more story)
Lockheed Martin Corp. and a CNA Financial Corp. unit have reached a settlement for a coverage dispute related to litigation that accused the aerospace and defense company of environmental contamination in Orla... (more story)
A home renovation company's insurer owed it a defense in a lawsuit over an auto collision involving a worker who was on the way to perform plumbing services, a California federal court ruled while stopping sho... (more story)
A Fifth Circuit panel Tuesday pressed ChampionX Corp. to explain how it can pursue a lawsuit in Texas seeking to make multiple insurers pay for its defense in a $40 million oil spill lawsuit if the underlying ... (more story)
An excess insurer said it has no duty to defend or indemnify a concrete company accused of causing $21 million worth of damage after supplying the wrong concrete mix for a highway construction project, telling... (more story)
Diamond State Insurance Co. asked a Colorado federal judge Monday to find it has no duty to indemnify an entertainment company being sued over a shooting at a hotel in May 2022 that injured one person, arguing... (more story)
An insurer for milk producer Fairlife LLC told an Illinois federal court Friday it owes no coverage for a proposed class action filed earlier this year accusing the company of false advertising through its all... (more story)
A Georgia insurance company can't slip out early from a fight over a defunct captive insurer's demise, a North Carolina Business Court judge has ruled, finding the company's owners directed actions into the Ta... (more story)
Specialty Lines More
The New Jersey Supreme Court zeroed in Thursday on how far insurers can go in reserving their rights without taking a definitive position on coverage, as Mist Pharmaceuticals LLC accused Berkley Insurance Co. ... (more story)
The former CEO of Marvel Entertainment on Thursday urged the Florida Supreme Court to revive his punitive damages claim over the secret collection of his wife's DNA in connection to a hate letter campaign, arg... (more story)
CVS Pharmacy Inc. has asked a New Jersey bankruptcy judge to enforce his May order approving the sale of 625 Rite Aid pharmacy operations and 64 drug stores, alleging the debtor has not provided druggist insur... (more story)
Antitrust litigation increasingly includes claims for breach of warranty, product liability or state consumer protection violations, complicating insurers' reliance on exclusions as courts analyze whether thes... (more story)
With regulatory clarity improving and insurance carriers taking an increasingly constructive approach, crypto industry participants can improve their insurance coverage and pricing if finance, legal and compli... (more story)
There were several impactful changes to the financial services landscape in North Carolina in the third quarter of the year, including statutory updates, enforcement developments from Office of the Commissione... (more story)
Kelley Kronenberg announced that the firm has launched a team focused on handling cyber insurance defense matters in response to the fast growth and increased demand for services in the area.
A Connecticut Superior Court judge has denied requests by Phoenix Life Insurance Co. and PHL Variable Insurance Co. to file late partial summary judgment motions in a $22.3 million professional negligence laws... (more story)
An insurer for a telecommunications company owes no coverage for its $2.5 million settlement with the Illinois government over claims that it failed to collect and remit certain taxes and fees owed by customer... (more story)
Various Travelers units owe no coverage to a software provider that reached a nearly $3 million class action settlement over claims that it violated Illinois' Biometric Information Privacy Act, a federal court... (more story)