The California Court of Appeals recently upheld a trial court judgment rendering a policy void ab initio and awarding the insurer reimbursement of amounts it incurred in defending and settling the underlying litigation.
Read MoreU.S. Representatives Doris Matsui (CA – D.) and Mario Diaz-Balart (FL – R.) have cosponsored and recently introduced a bill to the House of Representatives, entitled The Safe Building Codes Act of 2007. If enacted, the Bill would allow for approved states to each receive an additional 4% of federal disaster relief funds.
Read MoreAfter a lengthy legal battle between New York’s Comptroller and the Superintendent of Insurance, New York’s highest court has held that the Comptroller may not exercise its audit powers over the New York Liquidation Bureau (NYLB) and may not audit funds/assets under the NYLB’s control.
Read MoreAs reported previously in this space here and here, OFC legislation (entitled the “National Insurance Act”) was resubmitted in the House and Senate earlier this year. While testimony from the NAIC and various trade organizations was taken by the House Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises on October 3 and October 30, the current consensus is that no OFC legislation will be passed this year.
Read MoreNew Hampshire’s highest court recently held that an insurance policy’s sexual molestation exclusion applied to claims for negligent supervision brought against the alleged perpetrator’s parents.
Read MoreOn InsureReinsure.com, we strive to provide information about issues involving the insurance and reinsurance world and we rarely deal with criminal proceedings but there are instances, however, when alleged criminal activities become relevant to our industry.
We have blogged regularly about Richard (“Dickie”) Scruggs and the Scruggs Katrina Group, a group of attorneys representing thousands of policyholders in Katrina-related coverage disputes with their insurance companies.
Read MoreA New York state appeals court recently held that an insured’s statements made pre-litigation to an insurer’s investigator, as well as subsequent testimony in the investigation regarding those statements, are inadmissible hearsay.
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