Jurisdictions

Subscribe to Jurisdictions via RSS
Rep. Gene Taylor (D-MS) has introduced H.R. 920, entitled the “Multiple Peril Insurance Act of 2007,” to the United States House of Representatives in response to the denial of claims from Hurricane Katrina due to wind loss. 

…
Read More Congress Considering Reforms to National Flood Insurance Program

The Travelers Companies, Inc. has announced a settlement with ACandS Inc. to resolve all current and future asbestos-related coverage claims.  ACandS, an insulation contractor, has been undergoing Chapter 11 reorganization since 2002, and its bankruptcy counsel has described the Travelers insurance coverage as “the most important asset of ACandS’s bankruptcy estate.” 

…
Read More Travelers Enters Settlement with ACandS, Ending “Potentially Unlimited” Exposure; Plan Includes Reinsurance Allocation

On June 12, 2007, a New York appellate court reversed a lower court’s decision and held that a reinsurer was not required to follow the fortunes of a cedent’s loss allocation on a single occurrence “per site” basis, finding that such allocation, which allowed the cedent to exceed the facultative reinsurance contract’s $1 million per-occurrence deductible with respect to certain sites, was unreasonable. 

…
Read More Reinsurer Not Obligated to Follow Cedent’s Settlement Allocation

In a previous entry, we discussed a recent Katrina-related whistleblower suit filed in the Eastern District of Louisiana.  As we discussed, the lawsuit claims that a number of insurers allegedly misrepresented claims to the National Flood Insurance Program so as to limit their exposure, and was filed by Branch Consultants on behalf of the U.S. government. …
Read More Government Will Not Intervene in Katrina Whistleblower Lawsuit