An amendment was signed into law on January 17, 2010 which requires insurance producers to notify the Commissioner of the New Jersey Department of Banking and Insurance of disciplinary actions taken against them by the Financial Industry Regulatory Authority (FINRA) or other similar non-governmental regulatory authorities that have statutory authority to create and enforce industry standards of conduct.
Jurisdictions
Connecticut Appellate Court Affirms Summary Judgment Holding that Insurer Had No Duty to Defend or Indemnify its Insured in Negligence Claim Brought by Stabbing Victim
By Troutman Pepper Locke on
The Connecticut Appellate Court recently affirmed a trial court’s summary judgment holding that an insurance company had no duty to defend or indemnify its insured in a negligence action brought by a women who was stabbed twenty-four times by the insured. The court’s decision was based on the fact that the phrase “physical abuse” contained in a homeowner’s policy exclusion was not ambiguous and did not contain an implicit intentionality requirement, and thus the exclusion applied. …
Read More Connecticut Appellate Court Affirms Summary Judgment Holding that Insurer Had No Duty to Defend or Indemnify its Insured in Negligence Claim Brought by Stabbing Victim
Connecticut Appellate Court Holds Substantial Factor Test Remains Unchanged in Workers’ Compensation Cases
By Troutman Pepper Locke on
The Connecticut Appellate Court recently held that the “substantial factor test” for causation remains unchanged and that traditional causation rules apply to workers’ compensation cases.
Kentucky Law is Found Ambiguous by Federal District Court as to Whether Agents Can be Sued for Bad Faith and Thus Joinder of Agent Allowed Even Though Destroys Diversity
By Troutman Pepper Locke on
In North American Specialty Insurance Co. v. John Paul Pucek, et al., Docket No. 5:09-CV-49 (JMH) (E.D.KY Nov. 4, 2009), the owners of a thoroughbred horse purchased an equine mortality insurance policy. During the policy period, the horse sustained an injury that ultimately resulted in the horse being euthanized.
District Court Denies Motion to Stay, Holds That Potential for Unnecessary Arbitration-Related Expenses Does Not Constitute Irreparable Harm or Clear Hardship
By Troutman Pepper Locke on
Plaintiff B.D. Cooke & Partners Limited, as Assignee of Citizens Casualty Company of New York (in Liquidation) (“Cooke”), filed a lawsuit against defendant Certain Underwriters at Lloyd’s, London (“Underwriters”). Underwriters moved to compel arbitration, which was granted by the U.S. District Court for the Southern District of New York.
New Jersey Governor Appoints Insurance Commissioner
By Troutman Pepper Locke on
On January 15, 2010, New Jersey Governor-elect Chris Christie announced that Tom Considine will be the new Commissioner of the New Jersey Department of Banking and Insurance (“DOBI”). Mr. Considine is currently the vice president and government relations counsel for MetLife, a position he rose to since he started at MetLife in 1993. …
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UK: Insurers Face More Noise-Induced Hearing Loss Claims Following Court of Appeal Decision
By Troutman Pepper Locke on
Posted in Coverage & Claims, United Kingdom
Insurers may see increased exposure on employers’ liability policies in 2010, particularly related to noise-related personal injuries, as the effects of the so-called textile deafness test litigation are felt in the industry. …
Read More UK: Insurers Face More Noise-Induced Hearing Loss Claims Following Court of Appeal Decision
United States Federal Trade Commission Lowers Pre-Merger Filing Thresholds
By Troutman Pepper Locke on
Each year the FTC is required by statute to adjust the thresholds for Hart-Scott Rodino pre-merger filings. HSR filings and consequent regulatory approval of the transaction are required prior to closing a transaction involving the acquisition of assets (including exclusive licenses) or securities that meets the operative thresholds.
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Ninth Circuit Confirms Arbitration Award, Holds that Panel’s Ex Parte Meeting with Certain Expert Witnesses did not Justify Vacatur
By Troutman Pepper Locke on
Petitioner United States Life Insurance Company (“U.S. Life”) reinsured workers’ compensation policies issued by five insurers domiciled in California (collectively, “SNICIL”). The five insurers later declared insolvency, and the California Insurance Commissioner became SNICIL’s statutory liquidator. A dispute arose between the parties, and U.S. Life demanded arbitration. …
Read More Ninth Circuit Confirms Arbitration Award, Holds that Panel’s Ex Parte Meeting with Certain Expert Witnesses did not Justify Vacatur
Pennsylvania Superior Court Finds a Concurrent-Cause Exclusion to be Unenforceable in Connection with Hurricane-Related Water Damage
By Troutman Pepper Locke on
Posted in Coverage & Claims, United States
The Superior Court of Pennsylvania recently found a concurrent-cause exclusion in an all-risks insurance policy to be unenforceable in a case involving hurricane damage to an insured’s business premises and inventory caused by sewer and drain backup followed by flooding.