United States Archives - Page 293 of 314

Under Certain Policy Language, Settlement Payments Not Recoverable Absent Adjudication in California

Oct 11, 2007 | Coverage & Claims, Extra-Contractual Liability | United States

A California appellate court recently ruled that propulsion manufacturer Aerojet’s payment of approximately $175 million to settle regulatory enforcement actions over liability for groundwater contamination cannot be recovered under certain excess policies absent a final adjudication of liability.

Iowa Seeks Reforms to Long-Term Care Insurance

Oct 11, 2007 | Healthcare, Regulatory | United States

At the request of Governor Culver in June of this year, the Iowa Division of Insurance conducted a three-month review of issues relating to long-term care insurance. The Governor’s request grew out of concerns at both the state and national level regarding long-term care insurance policies and increasing complaints about pricing, rate increases, denial of claims and questionable market practices.

New York Proposes Mandatory Requirement for Property Insurers to Maintain Catastrophe Reserves

Oct 11, 2007 | New York Developments, Regulatory | United States

New York Insurance Superintendent Eric Dinallo announced last week that the State is considering a new regulation requiring that all property insurers writing policies covering damage from hurricanes and other natural disasters establish on their books a catastrophe reserve. If adopted, this regulation would be the first of its kind in the United States.

SDNY Applies “Prior And Pending Litigation” Exclusion To Limit Coverage Under D&O Policy

Oct 10, 2007 | Coverage & Claims, D&O Liability | United States

The United States District Court for the Southern District of New York recently broadly applied a so-called “prior and pending litigation” exclusion to limit coverage for the settlement of a lawsuit, finding that many of the lawsuit’s allegations overlapped with allegations made in a lawsuit filed prior to the inception of the policy.

Nevada Court Vacates Arbitrator’s Award of Punitive, Other Damages

Oct 10, 2007 | Arbitration, Coverage & Claims | United Kingdom, United States

Recently, the United States District Court for the District of Nevada vacated an arbitration panel’s award that consisted of, among other things, punitive damages, finding that the award was in manifest disregard of the law and outside the scope of the panel’s jurisdiction.

Stoneridge v. Scientific-Atlanta: Supreme Court Indicates It Will Not Broaden Secondary Actor Liability In Securities Class Actions

Oct 10, 2007 | Coverage & Claims, D&O Liability | United States

The United States Supreme Court heard oral argument yesterday in a case that presents the Court with the opportunity to broaden the class of potential defendants in private securities class actions, which would substantially increase litigation exposure for corporate America. The questions and comments of the Justices suggest that the majority of the Court is not prepared to alter the current securities class action landscape.

Louisiana Launches $100 Million Property & Casualty Incentive Program

Oct 10, 2007 | Catastrophe Claims, Regulatory | United States

Louisiana has begun accepting applications from property and casualty insurance companies for grants under the Insure Louisiana Incentive Program. According to Louisiana Insurance Commissioner Jim Donelon, the program is designed to “attract more property and casualty providers to [Louisiana] and to increase the private market capacity by 15%.”

Massachusetts Attorney General Files Suit Against National Mortgage Lender Over Subprime Mortgages

Oct 9, 2007 | Coverage & Claims, D&O Liability, Subprime/Credit Crisis Developments | United States

Massachusetts Attorney General Martha Coakley announced on Friday that her office has filed a lawsuit against one of the nation’s largest subprime lenders, Fremont Investment and Loan (“Fremont”). The suit accuses Fremont of predatory lending practices under Massachusetts’ 2004 Predatory Home Practices Act.

NAIC Reinsurance Task Force Considers Modernizing Reinsurance Regulation

Oct 9, 2007 | Regulatory, Reinsurance | United States

This blog serves as an update to our June 7 and September 12 postings.

Last week, we attended the Fall NAIC meeting in Washington D.C. During the meeting, the Reinsurance (E) Task Force discussed a proposal to modernize current reinsurance regulation.

Potential Class Action against State Farm and Its Claims Adjusting Software Company

Oct 9, 2007 | Catastrophe Claims, Coverage & Claims | United States

Judge Stanwood R. Duval, Jr. of the United States district court of Lousisa federal district court sitting in Louisiana recently held that two homeowners could jointly file an amended complaint and proceed with their proposed class action lawsuit against State Farm Fire and Casualty Company and software company Xactware.

Jurisdiction: United States

Under Certain Policy Language, Settlement Payments Not Recoverable Absent Adjudication in California

Iowa Seeks Reforms to Long-Term Care Insurance

New York Proposes Mandatory Requirement for Property Insurers to Maintain Catastrophe Reserves

SDNY Applies “Prior And Pending Litigation” Exclusion To Limit Coverage Under D&O Policy

Nevada Court Vacates Arbitrator’s Award of Punitive, Other Damages

Stoneridge v. Scientific-Atlanta: Supreme Court Indicates It Will Not Broaden Secondary Actor Liability In Securities Class Actions

Louisiana Launches $100 Million Property & Casualty Incentive Program

Massachusetts Attorney General Files Suit Against National Mortgage Lender Over Subprime Mortgages

NAIC Reinsurance Task Force Considers Modernizing Reinsurance Regulation

Potential Class Action against State Farm and Its Claims Adjusting Software Company

Search

InsurTech

Jurisdictions

Topics

Archives

Email the Editor

Share

Locke Lord LLP

Follow Us