The Florida Supreme Court has provided an answer to a question important to insurers that have issued policies under Florida’s surplus lines laws. In Essex Ins. Co. v. Zota, Case No. SC06-2031 (June 26, 2008), the Court considered numerous questions certified from the U.S. Court of Appeals for the 11th Circuit.
Read More Florida Supreme Court – Surplus Lines Policies Are Subject to Chapter 627, Florida Statutes
NAIC Pledges Support to Holocaust Insurance Act
Last week, the National Association of Insurance Commissioners (“NAIC”) pledged its support for the Holocaust Insurance Accountability Act of 2008 (“Accountability Act”), which would institute mechanisms for Holocaust-era insurance claims. The proposed legislation is intended to assist Holocaust survivors and their heirs with insurance claims that are complicated because of missing death certifications and/or non-existent physical copies of policies that were confiscated by the Nazis or lost in the Holocaust.
New York Federal Court Enforces Forum Selection Clause, Grant’s Run-off Administrator’s Motion to Dismiss
By Troutman Pepper Locke on
A New York federal court recently found that a lawsuit commenced by two insurance companies in run-off, Seaton Insurance Company and Stonewall Insurance Company, against their run-off manager, defendant Cavell USA Inc. and its principal, Ken Randall, was subject to the exclusive jurisdiction of the English courts, granting defendants’ motion to dismiss on that basis. …
Read More New York Federal Court Enforces Forum Selection Clause, Grant’s Run-off Administrator’s Motion to Dismiss
UK: Court Considers Meaning of “Damages”
By Troutman Pepper Locke on
Posted in Coverage & Claims, United Kingdom
In Bedfordshire Police Authority (BPA) v. David Constable (sued on his own behalf and on behalf of all other members of Syndicate 386 at Lloyd’s) (the Syndicate) [2008] EWHC 1375, BPA sought a declaration that the Syndicate be liable to indemnify it in respect of BPA’s potential liability under the Riot (Damages) Act 1886. …
Read More UK: Court Considers Meaning of “Damages”
Pennsylvania State Court Permits Plaintiff to Pursue “Deepening Insolvency” Theory of Damages
By Troutman Pepper Locke on
Posted in D&O Liability, United States
A Pennsylvania state court has reportedly ruled, in an unpublished opinion, that the Pennsylvania Insurance Commissioner may pursue a theory of damages against the accountant of an insolvent insurer based on a legal claim of “deepening insolvency.” …
Read More Pennsylvania State Court Permits Plaintiff to Pursue “Deepening Insolvency” Theory of Damages
EU: Commission Takes Action Against 4 Member States for Failure to Implement the Reinsurance Directive
By Troutman Pepper Locke on
Last week we reported that Portugal has issued a consultation paper on the implementation of the EU Reinsurance Directive (see the post here). The transposition deadline was 10 December 2007. Portugal is one of four member states to receive a letter of formal notice from the Commission in relation to its failure to implement the Directive, the others being the Czech Republic, the Netherlands and Poland. …
Read More EU: Commission Takes Action Against 4 Member States for Failure to Implement the Reinsurance Directive
AT&T Wireless Appeal Seeks Reversal of Lower Court Ruling Denying D&O Coverage for $47 Million Settlement Payment
By Troutman Pepper Locke on
Posted in D&O Liability, United States
AT&T Wireless Services, Inc. (“AWS”) recently filed a noteworthy reply brief in an ongoing D&O insurance coverage dispute between an AIG subsidiary and AWS over coverage for payments made by an acquirer on behalf of the acquiree’s directors and officers.
Connecticut In-House Counsel Not Licensed in Connecticut Must Register By June 30, 2008!
By Troutman Pepper Locke on
Posted in Connecticut Developments, United States
If you are in-house counsel for a corporation in Connecticut, but are not licensed in Connecticut, please read this! Failure to comply with Connecticut Practice Book section 15A could result in an enforcement action for unauthorized practice of law. …
Read More Connecticut In-House Counsel Not Licensed in Connecticut Must Register By June 30, 2008!
Allstate Suspension Stands – Florida Supreme Court Denies Jurisdiction
By Troutman Pepper Locke on
The Florida Supreme Court has refused to weigh in on the ongoing clash between the Florida Office of Insurance Regulation (OIR) and Allstate. As reported here, here, and here, Florida Insurance Commissioner Kevin McCarty served subpoenas on Allstate, seeking internal documents concerning its reinsurance program. When Allstate failed to comply with the subpoenas, the OIR suspended the rights of Allstate companies to issue new policies in Florida.
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Read More Allstate Suspension Stands – Florida Supreme Court Denies Jurisdiction
Florida Bad Faith – Federal District Court Finds That Policyholder Failed To Sufficiently Plead Punitive Damages Claim
In 316, Inc. v. Md. Cas. Co., Case No. 3:07cv528-RS-MD (N.D. Fla. May 21, 2008), an insured, whose commercial building had been damaged by Hurricane Ivan, alleged that its insurer acted in bad faith by refusing to pay for the damages. …
Read More Florida Bad Faith – Federal District Court Finds That Policyholder Failed To Sufficiently Plead Punitive Damages Claim