A Florida federal district court recently held that an appraiser’s finding that an insurer’s settlement of a property claim was too low cannot, by itself, sustain a cause of action for statutory bad faith.
United States
AIRROC/Cavell Commutation & Networking Event 2008
Mark Everiss, Selinda Melnik, Nick Pearson, Mary Pat Cormier and Nick Stern of Edwards Angell Palmer & Dodge attended the second day of the AIRROC/Cavell Commutation & Networking Event 2008. Selinda Melnik and Mary Pat Cormier hosted a very well attended Women’s Networking Lunch.
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New York Insurance Department Sets Expectations of Contract Certainty for Insurance Policies and Reinsurance Contracts
By Troutman Pepper Locke on
On October 16, 2008, the Superintendent of the New York State Insurance Department (the “Department”), Eric R. Dinallo, issued Circular Letter No. 20 (2008) (the “Circular Letter”) setting forth “contract certainty” expectations for property/casualty policies and reinsurance contracts.
Massachusetts Bankruptcy Court: Purchaser of Mortgage Lacks Standing to Seek Relief From Bankruptcy Stay to Foreclose Where It Lacks Evidence of Transfers of Mortgage
The United States Bankruptcy Court for the District of Massachusetts recently denied a mortgage purchaser’s Motion for Relief from Automatic Stay of Chapter 13 proceedings on the ground that the purchaser lacked standing where it could not provide documentary evidence showing each transfer of the mortgage. …
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AIRROC/Cavell Commutation & Networking Event 2008
The 2008 AIRROC/Cavell Commutation & Networking Event in New Jersey USA, which began yesterday and lasts until Wednesday, is being attended by Nick Pearson, Mary Pat Cormier, Selinda Melnik and Nick Stern of Edwards Angell Palmer & Dodge.
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Illinois Federal Court: “Related Wrongful Acts” Provision Applies Only To Limits Of Liability And Does Not Limit Duty To Defend
By Troutman Pepper Locke on
A federal district court in Illinois recently held that a “related wrongful acts” provision did not affect an insurer’s duty to defend even though the “wrongful acts” in question indisputedly “related” to wrongful acts that occurred prior to the policy’s retroactive date. …
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Massachusetts Court Finds That General Contractor’s Alleged Errors Fall Within “Professional Services” Exclusion In CGL Policy
By Troutman Pepper Locke on
A Massachusetts state court recently found that a professional services exclusion applied to claims against a contractor for improper “siting” of a house.
Certiorari Granted in Auto Body Labor Prevailing Rate Litigation
By Troutman Pepper Locke on
Posted in Antitrust, United States
In a case that potentially raises substantial constitutional issues regarding rate-setting with respect to auto body repair labor rates, the Rhode Island Supreme Court granted petitions for a writ of certiorari filed by the Property Casualty Insurers’ Association of America (“PCI”) and the Department of Business Regulation (“DBR”) on October 9, 2008. …
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Reinsurance Under 40s Group’s ReIndustry Speak on October 23 in New York
By Troutman Pepper Locke on
Don’t forget to RSVP for the U.S. Reinsurance Under 40s Group’s ReIndustry Speak on October 23 in New York from 6:00 – 9:00 p.m. The event, which is sponsored by Swiss Re, will feature hear Jim Fiore (QBE the Americas, Chief Operating Officer) and Alan J Levin (Edwards Angell Palmer & Dodge, co-chair of Insurance & Reinsurance Department), as they speak about the reinsurance industry. They will speak about how the industry has changed over the years, where the industry is going, and will give advice about climbing the ladder of (reinsurance) success.
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Adopted Proposal Aims to Collect and Aggregate Insurance Company Market Conduct Information into a Centralized Database
By Troutman Pepper Locke on
Last month the National Association of Insurance Commissioners (“NAIC”) adopted a proposal to develop a uniform system for collecting the market conduct information of insurance companies. Market-conduct information includes, for example, how often a company cancels policies, delays claim payments or is in litigation.