United States Archives - Page 312 of 314

The Florida Hurricane Catastrophe Fund

Jun 19, 2007 | Florida Developments | United States

In 1992, in the wake of Hurricane Andrew, the Florida Legislature enacted F.S. § 215.555, which created the Florida Hurricane Catastrophe Fund (the “Fund”). The Fund is a trust fund, established to reimburse insurers, who write covered policies under F.S. § 215.555(2)(c), for a portion of their catastrophic hurricane related losses.

Florida’s Valued Policy Law – When Determining Whether Building is “Total Loss,” Court May Consider Whether Cost of Repair Exceeds Value

Jun 19, 2007 | Coverage & Claims, Florida Developments | United States

Florida’s First District Court of Appeal recently decided that, when determining whether the structure is a “total loss” under Florida’s former Valued Policy Law (“VPL”), a court could consider whether the cost of repairing the building would exceed its value.

Delaware Court Grants Motion to Dismiss Stock Options Backdating Suit

Jun 19, 2007 | Coverage & Claims, D&O Liability | United States

The Delaware Court of Chancery recently granted a motion to dismiss a shareholder derivative action involving Sycamore Networks, Inc. that alleged misconduct in the issuance of stock options.

Florida Appellate Court Holds That Injured Party Suing Tortfeasor’s Insurer for Bad Faith is Not Entitled to Privileged Communications Between Insured, Insurer, and their Joint or Separate Counsel

Jun 18, 2007 | Coverage & Claims, Extra-Contractual Liability, Florida Developments | United States

A Florida appellate court recently swam against a tide of decisions that have eroded the attorney-client privilege in bad faith litigation.

SEC Prevails in Fraud Case Against Risk Manager

Jun 18, 2007 | Industry Developments | United States

A New York jury recently found a cell phone distributor’s risk manager liable for his alleged role in a scheme to commit securities fraud. According to the SEC’s allegations, the scheme involved the cell phone distributor’s purchase of a multi-year finite risk insurance policy, which enabled the company to spread a loss over several years.

Supreme Court Weighs in on Dirty Sites – CERCLA Permits Private Right of Action

Jun 15, 2007 | Coverage & Claims, Toxic Tort | United States

On June 11, the United States Supreme Court has paved the way for additional litigation under the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”).

First Circuit Finds Flexibility in “Sudden and Accidental” Pollution Exception

Jun 15, 2007 | Coverage & Claims, Massachusetts Developments, Toxic Tort | United States

On May 30, the U.S Court of Appeals for the First Circuit held that an insured’s broad allegations of pollution over a course of decades are enough to trigger a liability insurer’s duty to defend environmental contamination lawsuits.

Eliot Spitzer Establishes Commission to Modernize Insurance Regulation in New York

Jun 15, 2007 | New York Developments, Regulatory | United States

On May 29th, Eliot Spitzer, Governor of New York, signed an executive order creating the New York Commission to Modernize the Regulation of Financial Services. The Commission’s objective is to streamline state regulation of an industry that has become increasingly complex over the past decade.

Introducing Pennsylvania’s New Insurance Commissioner

Jun 14, 2007 | Industry Developments, Regulatory | United States

Joel Ario, former insurance administrator of the Insurance Division in the Oregon Department of Consumer and Business Services (“DCBS”), has confirmed that he has accepted the nomination by Pennsylvania Governor Edward Rendell to serve as Insurance Commissioner for Pennsylvania.

Florida Court Recognizes New Statutory Medical Malpractice Bad Faith Cause of Action

Jun 13, 2007 | Extra-Contractual Liability, Florida Developments | United States

A Florida appellate court recently recognized a new statutory cause of action for bad faith in the handling of medical malpractice claims.

Jurisdiction: United States

The Florida Hurricane Catastrophe Fund

Florida’s Valued Policy Law – When Determining Whether Building is “Total Loss,” Court May Consider Whether Cost of Repair Exceeds Value

Delaware Court Grants Motion to Dismiss Stock Options Backdating Suit

Florida Appellate Court Holds That Injured Party Suing Tortfeasor’s Insurer for Bad Faith is Not Entitled to Privileged Communications Between Insured, Insurer, and their Joint or Separate Counsel

SEC Prevails in Fraud Case Against Risk Manager

Supreme Court Weighs in on Dirty Sites – CERCLA Permits Private Right of Action

First Circuit Finds Flexibility in “Sudden and Accidental” Pollution Exception

Eliot Spitzer Establishes Commission to Modernize Insurance Regulation in New York

Introducing Pennsylvania’s New Insurance Commissioner

Florida Court Recognizes New Statutory Medical Malpractice Bad Faith Cause of Action

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