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The Superior Court of New Jersey, Appellate Division recently held that an insured that had received asbestos claims against it prior to the time it applied for an excess insurance policy was not precluded by the known loss or loss in progress doctrines from receiving coverage for subsequent asbestos-related claims. 

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Read More New Jersey Appellate Court Weighs in on Coverage of Asbestos Claims, Known Loss and Loss in Progress Doctrines

The First Circuit recently affirmed summary judgment granted to an insurer who had denied coverage to its insured, despite the insured’s allegation that there was a “possibility of coverage” under the complaint. 

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Read More Post-Hoc Speculation Not Enough to Create “Possibility” of Coverage in Underlying Suit

Physicians, hospitals and other healthcare providers may not be aware that the federal Red Flag Rules, 16 C.F.R. § 681, may apply to them. The Rules, which become effective on May 1, 2009, require covered entities to formally address the risks of identity theft and develop a plan to prevent such risks. 

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Read More New “Red Flag” Identity Theft Rules Apply to Healthcare Providers

Despite its settlement with regulators, two new Auction Rate Securities (“ARS”) suits have recently been filed against Merrill Lynch.  Unlike the suit against UBS filed last November by investors alleging the regulatory settlements would not provide them with suitable relief  (see here), these suits are brought by investors who do not qualify for payments from the regulatory settlements. 

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Read More Merrill Lynch Auction Rate Securities Suits Continue Despite Regulatory Settlements