The United States Court of Appeals for the Fifth Circuit recently upheld the dismissal of a claim by two individuals against an insurance agent who sold them renters’ insurance because they failed to file their claim within one-year after they learned about, or should have known, the facts that gave rise to their claim. …
Read More Fifth Circuit Upholds Dismissal of Claims Against Insurance Agent based on Louisiana’s One-Year Statute of Limitations

Craig Stewart (Boston) and Antony Woodhouse (London) of Edwards Angell Palmer & Dodge LLP are attending the 16th annual ABA TIPS Insurance Coverage Litigation Committee mid-year meeting in Marina Del Rey. They report that the meeting is very well attended and is currently in full flow with representatives from 31 different states, Puerto Rico, Canada and, of course, the U.K. 

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Read More Report from ABA TIPS Insurance Coverage Litigation Committee Mid-Year Meeting in Marina Del Rey, CA

In late 2007, an Ohio federal court ruled that an insurer defending itself in a lawsuit over its denial of coverage of a computer hacking claim against one of its insureds should not be forced to disclose any information regarding its own unrelated security breach or about how it handled similar computer hacking claims with other policyholders. 

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Read More Ohio Federal Court Judge Denies Motion to Compel Production of Information as to Other Claims and Security Breaches In Computer Hacking Case

By complaint dated February 1, 2008, four named individuals commenced a class action lawsuit against fourteen (14) title insurance companies in the United States District Court for the Eastern District of New York alleging violations of antitrust laws. …
Read More Class Action Antitrust Suit Brought Against Title Insurers in NY Federal Court

On February 26 2008, the Michigan Senate voted unanimously to adopt S.B. 1061 as amended by the Michigan House on February 21, 2008, and the most significant change is an increase in the annual fees paid by captive insurance companies within the state of Michigan. 

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Read More Legislative Update — Michigan Gets Closer to Increasing Annual Fees Paid By Captives

Last week, the United States Supreme Court refused to hear the appeal by policyholders of the Fifth Circuit’s pro-insurer August 2007 decision that held that various policies’ flood exclusions unambiguously precluded recovery for damages caused by breach of the levees after Hurricane Katrina. 

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Read More Supreme Court Denies Appeal of Katrina Coverage Cases from Louisiana Federal Court

In Bi-Economy v. Harleysville, 2008 N.Y. Slip Op. 01418 (Feb. 19, 2008), the New York Court of Appeals reversed summary judgment for an insurer and held that, under the factual circumstances presented and “in light of the nature and purpose of the insurance contract at issue,” the insured had stated a viable claim for consequential damages. …
Read More BI-Economy: New York’s Highest Court Sustains Insured’s Claim for Consequential Damages

The New York Court of Appeals recently held that consequential damages are a permissible remedy for an insurer’s breach of the covenant of good faith and fair dealing. …
Read More Panasia: New York High Court Permits Consequential Damages for Bad Faith Breach of Policy

As you may know, many of the major bond insurance firms in the municipal bond market have either seen their ratings down-graded or placed on negative credit watch or outlook by the leading municipal credit rating services (Moody’s Investors Service, Inc., Standard & Poor’s and Fitch Ratings).  These changes have stemmed largely from the insurers’ exposure to investment vehicles tied to subprime mortgage loans. …
Read More Bond Insurer Downgrades and Material Event Notice Filings

If outside counsel for a company drafts factual memoranda concerning an internal investigation conducted in response to alleged wrongdoing, and then voluntarily shares the memoranda at the company’s direction with government investigators, has the company waived the work product privilege?  According to a recent decision from a federal district court in New York, the answer is yes. 

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Read More Current Issues in D&O and E&O Coverage Investigations: S.D.N.Y. Holds that Credit Suisse Waived Work Product Privilege by Disclosing Internal Investigation Memoranda to the Government