On December 3, 2008, the U.S. federal district court for Minnesota affirmed a magistrate’s denial of a motion by Sun Life Assurance Company of Canada (“Sun Life”) to amend its complaint seeking to void life insurance policies issued to John R. Paulson that were later acquired by Coventry First, LLC (“Coventry First”), The Atticus Fund, LP (“Atticus”) and Orca Finance Trust (“Orca”).
Read More Federal Court Reaffirms Holding Regarding “Mutual Intent” in Insurable Interest Case
Jurisdictions
New York Insurance Department Announces Cooperation Agreement With France
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Read More New York Insurance Department Announces Cooperation Agreement With France
Bayer Agrees to Pay Federal Government $97.5 Million to Settle Allegations of Paying Kickbacks to Diabetes Supplies Companies
Illinois Federal Court Finds That Arbitrator Cannot Compel Prehearing Depositions of Non-Parties Under the Federal Arbitration Act
Federal Court Orders Arbitration Award To Be Sealed Temporarily
In August, a group of cedents filed a petition to confirm an arbitration award (the “Final Award”) entered in their favor against their reinsurer, National Casualty Company. National Casualty moved to dismiss the motion to confirm based upon lack of subject matter jurisdiction, arguing that the Final Award did not satisfy the amount in controversy requirement. …
Read More Federal Court Orders Arbitration Award To Be Sealed Temporarily
California State Appeals Court Holds that Brand-Name Pharmaceutical Manufacturers’ Duty to Use Due Care in Disseminating Product Warnings Extends to Patients Using Generic Equivalents
Federal Court Finds No Duty to Defend Against Claims of Fraudulent Reselling of Contaminated Milk
A federal district court in Pennsylvania recently held that two insurers are not obligated to contribute to the defense and indemnification of an insured sued for selling contaminated milk. …
Read More Federal Court Finds No Duty to Defend Against Claims of Fraudulent Reselling of Contaminated Milk
Ohio Court Holds that Injuries Related to Potato Gun Not Covered by Homeowners Policy
Last month, the Ohio Court of Appeals ruled that injury caused by an insured’s mishandling of a homemade explosive device is not covered under a homeowners policy because the injury was “reasonably to be expected.” …
Read More Ohio Court Holds that Injuries Related to Potato Gun Not Covered by Homeowners Policy
Improper Service Leads to Dismissal of D&O Coverage Action
In Amway Asia Pacific Ltd. v. Those Certain Underwriters at Lloyd’s London, No. 1:07-CV-1277 (W.D. Mich. Oct. 27, 2008), a federal district court in Michigan granted the primary insurer’s motion to dismiss a declaratory judgment action on the ground that the plaintiff failed to serve copies of the summons and complaint on the proper agent for service of process. …
Read More Improper Service Leads to Dismissal of D&O Coverage Action
RAA Releases Nine-Months 2008 Underwriting Results
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Read More RAA Releases Nine-Months 2008 Underwriting Results