The United States District Court for the Eastern District of Michigan granted summary judgment to an excess insurer and held that the excess policy would not be triggered until the underlying limits were exhausted by actual payment from the primary carrier.
United States
Three Federal Courts Exclude Plaintiffs’ Expert Testimony in Drug Product Liability Actions
By Troutman Pepper Locke on
Posted in Product Liability, United States
Federal courts in three separate pharmaceutical products liability actions recently excluded plaintiffs’ expert testimony concerning causation of damages.
Sixth Circuit Permits Excess Carriers to Sue Primary Carriers For Excess Verdicts
By Troutman Pepper Locke on
Posted in Coverage & Claims, United States
The Sixth Circuit has held that, under Kentucky law, an excess carrier can recover against a primary carrier for alleged bad faith failure to settle within the primary limits leading to an excess verdict.
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More Rate Filings Denied In Florida
By Troutman Pepper Locke on
The Florida Office of Insurance Regulation (“FOIR”) denied eight more rate filings last week.
New Jersey Bans Use of Step-Down Provisions
By Troutman Pepper Locke on
On Monday, September 10th, New Jersey Governor Jon Corzine signed into law a bill (S-1666/A-3038) banning the use of step-down provisions. Step-down provisions are used in businesses’ motor vehicle liability insurance policies and apply to employee claims.
NAIC Seeks Comment on Proposal to Modify Reinsurer Rules
By Troutman Pepper Locke on
As outlined in our June 7, 2007 blog entry, the National Association of Insurance Commissioners (NAIC) is considering modernizing reinsurance regulation, including collateral requirements of nonadmitted reinsurers.
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Ralph S. Tyler Named as Maryland’s New Insurance Commissioner
By Troutman Pepper Locke on
On September 6, 2007, Maryland Governor Martin O’Malley named Ralph S. Tyler as the new Maryland Insurance Commissioner. Tyler is an attorney with over 30 years of legal experience. He currently serves as Maryland’s Chief Legal Counsel and was City Solicitor from 2004 to 2007.
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Massachusetts Insurance Commissioner Proposes Regulation to Deregulate Automobile Insurance
By Troutman Pepper Locke on
Over the last ten years, states have been moving, albeit slowly, to deregulate automobile insurance. Supporters of deregulation often cite the high premiums, distorted rates and lack of choices that drivers experience under a regulated system. They argue that in states that rely on markets to set rates, neither prices nor profits are excessive.
California Supreme Court Finds Reinsurance Information Outside the Scope of Discovery Rules
By Troutman Pepper Locke on
Recently, the California Supreme Court held that the alleged victims of child abuse by certain priests in the Catholic Church will not have access to the reinsurance information of the defendant Church’s nonparty liability insurers in the course of discovery.
U.S. Treasury Critical of Homeowners’ Defense Act of 2007
By Troutman Pepper Locke on
Yesterday, September 6, 2007, Philip Swagel, Treasury Assistant Secretary for Economic Policy, submitted testimony to the House Committee on Financial Services strongly opposing the Homeowners’ Defense Act of 2007 or H.R. 3355.
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