Specialty Lines

  • December 08, 2021

    Renewal Rates Up For Most Commercial Lines, Report Says

    Average insurance premium renewal rates increased last month for all commercial lines except for workers' compensation — a trend that was mostly consistent throughout 2021, according to IVANS Insurance Solutions' premium renewal rate index.

  • December 08, 2021

    Hotels Underinsured Due To Agent's Negligence, 8th Circ. Told

    Two hotel operators urged the Eighth Circuit to revive a suit accusing their insurance agent of misrepresenting what their policies would cover, saying they were hung out to dry after a devastating rainstorm caused $1.2 million in damage to a building project.

  • December 08, 2021

    Zurich Says Solar Co.'s Rain Damage Suit Filed Too Late

    A 12-month suit limitation provision in a solar developer's insurance policy bars the company from seeking at least $18 million in damages from Zurich American Insurance Co. over heavy rain damage to a more than 2,000-acre solar farm, the insurer told a Georgia federal court.

  • December 07, 2021

    Experian Predicts 'Cyberdemic' To Continue Through 2022

    Hackers will continue to exploit weaknesses in cybersecurity through 2022, taking advantage of the pandemic-related migration to working remotely and expanding their reach to include attacks on online gambling and cryptocurrencies, according to a report released Monday by consumer credit reporting company Experian PLC.

  • December 07, 2021

    Blue Cross Group Fights Insurer's Bid To Skirt MDL Coverage

    A Blue Cross Blue Shield conglomerate told an Illinois federal judge that an exclusion for related cases can't keep one of its excess errors and omissions insurers, Homeland Insurance Co. of New York, from covering multidistrict antitrust litigation.

  • December 07, 2021

    Ill. Insurance Co. Exec Pleads Guilty To $6M Fraud Scheme

    The former controller of a Chicago insurance company pled guilty on Tuesday to charges that he ran a nearly $6 million scheme in which he diverted his employer's money to accounts he owned and controlled.

  • December 07, 2021

    Lloyd's Sued Over Canceled Food Services Event Coverage

    A group of Lloyd's of London underwriters must cover a canceled Houston trade show that was to be headlined by TV personality Padma Lakshmi and race car driver Dale Earnhardt Jr., the event host told a Texas state court, saying the previous year's canceled show was covered.

  • December 07, 2021

    Accounting Firm Overstated Insurer's Finances, Suit Says

    The chief of the Vermont Department of Financial Regulation has accused a public accounting firm of misstating the finances of a now-insolvent mutual insurance company, according to a suit removed Monday to federal court.

  • December 07, 2021

    Feds Say Insurer Liable For Part Of $1.4M Jewelry Duties Bill

    The federal government sued an insurance broker in the U.S. Court of International Trade, alleging the company is on the hook for $734,390 of the $1.38 million in unpaid duties a diamond importer owes.

  • December 06, 2021

    Del. Justices Pick Contract Over Bad Math In $750M Merger

    A UnitedHealthcare subsidiary could pay $38 million more than it wanted to buy an insurance company after the Delaware Supreme Court found that a correct calculation of the seller's tangible net worth should be prioritized over a consistent use of an inaccurate calculation.

  • December 06, 2021

    Insurer Must Pay $5M Toward Trolley Crash Judgment

    Philadelphia Indemnity Insurance Co. must pay $5 million toward consent judgments that a transportation company paid to settle suits brought by wedding-goers injured when a specialized trolley flipped over, a Delaware state court decided Monday.

  • December 06, 2021

    Insurer Rejects Car Dealer's Coverage Bid For Worker's Killing

    A California federal court must toss a car dealer's counterclaim demanding that Employers Assurance Co. cover a settlement of a suit over an employee's shooting death, Employers said, citing policy exclusions and the fact that the dealer was never formally served in the underlying case.

  • December 06, 2021

    LV Members Urge FCA To Pause £530M Bain Takeover Bid

    The Financial Conduct Authority should step in to delay an important vote in the controversial £530 million ($700 million) takeover of Liverpool Victoria, lawyers representing members of the mutual insurer have said.

  • December 03, 2021

    Lloyd's, NYC Jeweler Seek $2M For Damaged Ruby Ring

    Certain Underwriters at Lloyd's London sued a Texas jeweler in New York state court Friday, accusing him of gross negligence after a $2 million ruby ring became damaged while he courted prospective buyers.

  • December 03, 2021

    Asset Manager Settles Company Acquisition Row With Insurer

    Financial services provider B. Riley Wealth Management and its AXA insurer settled a dispute over whether B. Riley is owed millions in coverage for alleged acts of wrongdoing in connection with its acquisition of another wealth manager.

  • December 03, 2021

    CNA Unit Says It Won't Cover Dental Negligence Suits

    A second insurer has sought to avoid defense and coverage of 10 negligence lawsuits against a deceased dentist's estate, telling a Colorado federal court that the dentist breached his duties under the policy.

  • December 03, 2021

    Texas Ruling In $1.2M Gold Coin Theft Suit Boosts Insurer

    A gold coin dealer lost more than $1.2 million because it accepted fraudulent checks in exchange for a set of coins, the Texas Supreme Court said Friday, in a ruling that could help the dealer's Lloyd's insurer avoid covering almost all the loss.

  • December 02, 2021

    Insurer Can't Get A Refund In Law Firm Forgery Dispute

    A Los Angeles law firm's insurer cannot seek reimbursement for defending it against claims that it improperly sued a client's partner over a soured real estate deal, a California federal court ruled Thursday, saying the insurer had not even alleged the firm improperly sued the partner.

  • December 02, 2021

    7th Circ. Urged To Make Insurer Pay In Horse Dispute

    A horse owner told the Seventh Circuit her insurer unreasonably refused to approve a horse's euthanization to avoid paying a mortality policy, urging the panel to reverse a lower court's holding that the insurer did not need to consider her wishes when treating the horse.

  • December 02, 2021

    3M Unit's Insurers Ask To Transfer Suit Over Settlement

    Two insurers that want out of covering a 3M unit's shareholder settlement asked a Delaware federal court to transfer their case back to a California federal court, while the 3M unit asked to pause the action.

  • December 02, 2021

    Grocer Says Insurer's BIPA Coverage Fight Is 'Self-Serving'

    Philadelphia Indemnity Insurance Co. must still cover a proposed class action accusing an Illinois produce market of violating workers' biometric privacy rights, even though the suit initially named the wrong company, the market told an Illinois federal court.

  • December 02, 2021

    Performance Sports Investors Score $13M Deal In Fraud Suit

    Two former Performance Sports Group executives will pay $13 million through company insurance to end a proposed class action alleging they lied to shareholders about the now-bankrupt athletic gear manufacturer's sales tactics, according to a proposed deal filed Wednesday.

  • December 01, 2021

    Insurer Must Cover Atty In Sexual Assault Suit, Judge Says

    A Maine attorney accused of drugging and sexually assaulting one of his clients is entitled to defense from his Swiss Re insurer, a federal judge said Wednesday, finding the lawyer's policy afforded coverage for professional misconduct claims.

  • December 01, 2021

    Insurer Can't Try Pollution Coverage Suit In NY, Solar Co. Says

    A renewable energy company's insurer should not be allowed to move a suit over whether it must cover the company's pollution cleanup costs from Rhode Island to New York because Rhode Island has a stronger interest in the suit, the company told a Rhode Island federal court Wednesday.

  • December 01, 2021

    Finance Co. Seeks Coverage For $3.3M In Scam Losses

    A broker-dealer asked a New York federal court Wednesday to order its insurer to cover $3.3 million in losses stemming from an employee tricking company clients into sending him money, slamming the insurer for denying coverage because the stolen money was transferred from noncompany accounts.

Expert Analysis

  • JP Morgan Ruling May Have Broad Insurance Implications

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    The New York Court of Appeals' recent decision in J.P. Morgan Securities v. Vigilant Insurance — that settlement funds paid to the U.S. Securities and Exchange Commission did not constitute a penalty for insurance purposes — could have far-reaching application in other types of insurance litigation where plaintiffs could be characterized as seeking equitable relief, say Robert Shulman and Cristen Rose at Paley Rothman.

  • Insurance Tips For Mitigating DOJ Cyber Initiative Risks

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    For companies and executives involved in False Claims Act actions alleging cybersecurity failures like those envisioned by the U.S. Department of Justice's new cyber fraud initiative, certain insurance policies could help defray the substantial costs of defense and even settlement liability, say attorneys at Hunton.

  • M&A Rulings Provide Guidance On 'Bump-Up' Claim Coverage

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    As M&A activity continues to surge, several recent federal court decisions can guide companies in structuring their insurance programs and assessing whether so-called bump-up claims arising from particular M&A transactions may be covered, say Robin Cohen and Orrie Levy at Cohen Ziffer.

  • BIPA Ruling Should Aid Insurers In Privacy Claims

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    Massachusetts Bay Insurance v. Impact Fulfillment Services, a recent decision by a North Carolina federal court finding that a Biometric Information Privacy Act claim was precluded under an insurance exclusion, represents a potentially significant win for insurers due to its broadly applicable contract interpretation, say Joshua Polster and Conor Mercadante at Simpson Thacher.

  • Insurers Should Honor Astroworld Coverage Obligations

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    While insurers may be eager to shift blame on Astroworld showrunner Travis Scott for conditions that resulted in 10 deaths and dozens of injuries, arguments suggesting the tragedy shouldn't be covered appear baseless in light of the facts and the law, says Benjamin Massarsky at Miller Friel.

  • Ransomware Case Signifies Shift In Cyber Insurers' Stance

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    The pleadings in a recently settled California federal court case, Boardriders v. Great American Insurance, show that cyber insurers are taking an adversarial approach to ransomware-related claims in the wake of increasing attacks, so policyholders should anticipate new policy language, claim-payment avoidance and more, say Lynda Bennett and Michael Scales at Lowenstein Sandler.

  • Cyber Rulings Aren't Helping COVID Biz Interruption Cases

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    Where policyholders have recently tried to draw comparison between the loss of property use from a COVID-19 shutdown order and the loss of data use from a ransomware attack, they have found courts unsympathetic to these arguments for business interruption insurance coverage, say Jane Warring and Kristian Smith at Zelle.

  • Insurance Commissioner's Agenda: NY On Industry Diversity

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    My Chi To, executive deputy superintendent of the New York State Department of Financial Services Insurance Division, discusses steps her agency is taking to promote diversity, equity and inclusion within the insurance industry and suggests practices for companies to consider adopting.

  • FCA Ruling Guides Insureds On Classifying Restitution Costs

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    In Astellas v. Starr Indemnity, an Illinois federal court recently held that a False Claims Act settlement qualified as insurable compensatory damages, not uninsurable disgorgement, providing an important guide to policyholders navigating the tax code's deductibility requirements and insurance policy exclusions, say attorneys at Reed Smith.

  • Subpoena Defense Cost Ruling Gets Insurance Law Wrong

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    A Connecticut federal court's recent decision that National Union Fire Insurance Co. of Pittsburgh didn't need to cover defense costs for a power utility's response to a grand jury subpoena included two crucial mistakes that contravene long-standing insurance law principles, say attorneys at Hunton.

  • Insurance Commissioner's Agenda: DC On Long-Term Care

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    Washington, D.C., Insurance Commissioner Karima Woods outlines the development of insurance coverage for older adults' long-term care benefits and how regulators and the industry are attempting to resolve issues with the popular product.

  • 5 Buyers' Counsel Tips For R&W Insurance Underwriting Calls

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    With representations and warranties insurance becoming more popular than ever, buyers' counsel participating in underwriting calls for such insurance should follow certain best practices to secure contracts with minimal exclusions, say Bryan O'Keefe and Gena Usenheimer at Seyfarth.

  • When A Denial Of Recovery-Based Insurance Claim Is Invalid

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    Two recent court decisions show that policyholders should not accept denials of coverage based on the uninsurability of restitution or disgorgement-based losses without a detailed, two-part analysis of the specific state's law and the particular facts of the loss, say Stephen Raptis and Emily Buchanan at Haynes and Boone.