In a recent decision, the U.S. Court of Appeals for the First Circuit held that the doctrine of issue preclusion barred an insured from litigating the applicability of an insurance policy exclusion where an arbitration panel had previously addressed a related, but not identical, question of law. The case is Manganella v. Evanston Insurance Company, No. 12-1137. A copy of the decision is available here. …
Read More First Circuit: Arbitration Decision Bars Insured From Litigating Coverage Issues

An Edwards Wildman team led by Steve Prignano (Providence), Josh Broudy (Hartford) and David Sigmon (New York) obtained summary judgment for our client National Union Fire Insurance Company of Pittsburgh, Pa. (“National Union”) in a case involving coverage claims brought by Payless Shoe Source, Inc. (“Payless”). …
Read More Edwards Wildman Team Gets Big Coverage Win in TCPA Violation Case

A recent development in what some have characterized as the largest financial scandal in the history of the market emerged this week when five civil lawsuits were filed in California federal courts involving claims that numerous banks manipulated the Libor interest rates for profit. …
Read More California Governments Launch Libor Litigation

Edwards Wildman Palmer’s Insurance and Reinsurance Department recently published its latest Newsletter, Insurance & Reinsurance Review – January 2013, which contains eight articles about various topics in the insurance and reinsurance industry. …
Read More Insurance & Reinsurance Review – January 2013

On 19 December 2012, the Financial Services Authority (FSA) announced its plan to undertake a study into general insurance products sold as add-ons. Insurance add-ons are often sold with other, larger purchases, such as a car, a holiday or an electronic device. …
Read More UK: FSA Announces Study of Add-on General Insurance Products

Last month, the New York Department of Financial Services (“DFS”) published notice in the New York State Register that it would be adopting several amendments to its holding company regulations. The DFS stated that the purpose of the amendments is to bring New York regulation in conformance with the National Association of Insurance Commissioners (“NAIC”) 2010 model Insurance Holding Company System Regulatory Act in order to ensure that New York maintains its NAIC accreditation status. …
Read More New York Amends Holding Company Regulations

The Court of Appeal in Valiant Insurance Co v (1) Sealion Shipping Ltd (2) Toisa Horizon Inc [2012] EWCA Civ 1625 has affirmed the High Court’s first instance decision that the insureds (the Respondents) were entitled to an indemnity under a loss of hire marine insurance policy issued by Valiant, the Appellant. The policy entitled the insureds to $70,000 per day, plus interest, for a maximum of thirty days in excess of twenty-one days. …
Read More UK: Valiant Appeal in Loss of Hire Case Dismissed

As all are aware, on New Year’s Day, the Senate and the House of Representatives approved a bill to avert the so-called fiscal cliff. The “American Taxpayer Relief Act of 2012” includes the latest in a series of one-year patches to prevent major cuts in physician Medicare fees. …
Read More Healthcare Update: Fiscal Cliff Deal Includes Temporary “Doc Fix” for 2013

We have previously reported on the Joint Review of Insurance Contract Law Reform being undertaken by the Law Commission and Scottish Law Commission (the Commissions) (see our previous blog here). The Commissions’ second consultation paper, Post Contract Duties and other Issues, sought responses to, amongst other things, the issues of (i) Damages for Late Payment; and (ii) Insurers’ Remedies for Fraudulent Claims. …
Read More UK: Law Commissions Publish Responses to Second Consultation Paper