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In an unpublished opinion, the Eleventh Circuit recently affirmed the trial court’s decision that a D&O policy does not provide coverage for third-party property damage claims. …
Read More Eleventh Circuit Upholds That D&O Policy Does Not Provide Coverage for Claims Arising Out of Property Damage Under Florida Law

With only a few key differences to overcome, the House and Senate have hammered out several points regarding the creation of an office to monitor the insurance industry as part of the currently debated financial industry reform bill. …
Read More House and Senate Conferees Close on Establishing Federal Insurance Office; Include State Insurance Regulator on Financial Stability Oversight Council

Effective August 31, 2010, the Rhode Island Office of the Health Insurance Commissioner (“OHIC”) will impose a readability requirement for all health insurance policies to be readable at the eighth grade level measured by the Flesch-Kincade formula.  The readability requirement comes in response to Rhode Island’s low adult literacy rate, and is designed to protect consumers by making health insurance policies, which are often complicated, easy to understand. …
Read More Rhode Island Imposes Readability Standards for Health Insurance Policies

In a letter from the National Association of Insurance Commissioners (the “NAIC”) to both House and Senate leaders, state insurance commissioners urged lawmakers to designate a non-voting seat for state banking, insurance and securities regulators on the Financial Stability Oversight Council (the “FSOC”). …
Read More State Insurance Commissioners Make Their Case for Inclusion in the Financial Stability Oversight Counsel

Recently, a Pennsylvania federal court dismissed a bad faith claim against an insurer on the grounds that the claim was subsumed by the plaintiff’s breach of contract claim in the same proceeding. …
Read More Pennsylvania Federal Court Dismisses Bad Faith Claim as Subsumed by Breach of Contract Claim, But Allows Statutory Bad Faith Claim

The 2011 Rhode Island state budget, which was enacted as HB 7397A and signed into law June 2, 2010, amends the taxation statutes applicable to surplus lines insurers and the Medical Malpractice Joint Underwriters Association.  Article 9 of HB 7397A contains both amendments. …
Read More Rhode Island 2011 Budget – Tax Implications for Surplus Lines Insurers and Medical Malpractice Joint Underwriters Association

In a decision issued on February 1, 2010, the United Stated Court of Appeals for the Second Circuit confirmed that under New York law some policy provisions, although placed outside of the policy’s “Exclusions” section, may nonetheless be considered an exclusion and, therefore, subject to the timely disclaimer and denial requirement of NY Insurance Law § 3420(d)(2). …
Read More Second Circuit: Distinguishing Between Policy Definitions Subject to NY Insurance Law § 3420(d)(2)’s Timely Disclaimer Requirement as an Exclusion and Those That Are Not

The Flow Rate Technical Group, a federal panel, now estimate that 20,000 to 40,000 barrels of oil a day are flowing into the Gulf of Mexico as a result of the Deepwater Horizon explosion.  This new range is far above the previous estimate of 12,000 to 19,000 barrels per day. …
Read More UPDATE: New Estimates Double — BP Oil Spill is the Equivalent to the Exxon Valdez Disaster Gushing Into the Gulf of Mexico Every 8 to 10 Days

The Deutsche Bank Americas Foundation is financing a database of hundreds of buildings that have been sustainably retrofitted in New York City.  The database will track lighting changes, detail HVAC improvements, insulation upgrades, window replacements, potable water reduction and other substantial green adaptations, along with their respective cost and efficiency savings for building owners and occupants. …
Read More “Green” Database to Track and Report on Retrofitted Buildings in New York City