In late June, as previously reported here, both houses of the New York state legislature passed a bill proposing to reverse New York’s longstanding “no-prejudice rule,” which provides that an insurer need not establish prejudice in order to disclaim coverage on late notice grounds. 

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Read More New York Remains a No-Prejudice State. . . For Now

Last week, a federal appellate court affirmed the denial of a motion filed by State Farm Fire and Casualty Company (“State Farm”) to disqualify Richard (“Dickie”) Scruggs, his law firm, and other attorneys and firms in the Scruggs Katrina Group from representing plaintiffs in the case of McIntosh v. State Farm Fire & Casualty Co.  …
Read More Fifth Circuit Affirms Denial of State Farm’s Motion to Disqualify Dickie Scruggs and the Scruggs Katrina Group

In the wake of the successful prosecution of ex-Brocade CEO Greg Reyes, government prosecutors are trying their luck a second time — this time with Brocade’s former vice president of human resources, Stephanie Jensen. 

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Read More Brocade Stock Options Backdating Criminal Trial: Episode II

Scott Kipper has been selected to replace Joel Ario as the administrator of Oregon’s Insurance Division of the Department of Consumer and Business Services (“DCBS”).  As previously reported here, Joel Ario left the Insurance Division to become the insurance commissioner of the Commonwealth of Pennsylvania.  Kipper’s appointment will be effective on December 27. …
Read More Oregon Selects Scott Kipper To Head Insurance Division

The Securities and Exchange Commission recently filed an amicus brief in the Vigilant Ins. Co. et al. v. The Bear Stearns Cos., Inc. insurance coverage litigation. On June 19, 2007, an intermediate New York State appellate court held that a question of fact existed as to whether a component of an SEC settlement that was specifically labeled as disgorgement actually constituted the kind of disgorgement that many courts have deemed uninsurable as a matter of public policy. 

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Read More SEC Files Amicus Brief in Bear Stearns Insurance Coverage Litigation

Matt Denn, the Delaware Insurance Commissioner, announced in early November that he will institute a significant worker’s compensation premium cut for the start of the next calendar year.  For most businesses who participate in the “voluntary” workers compensation market, premiums will be cut by an average of 17.75 percent. 

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Read More Delaware Insurance Commissioner to Cut Average Worker’s Compensation Premiums for 2008

In its recent decision in Tuepker v. State Farm, the Fifth Circuit Court of Appeals has held that State Farm’s anti-concurrent causation clause is unambiguous and should be enforced under Mississippi law. 

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Read More Victory for State Farm in the Appeal of Tuepker v. State Farm

As the number of home foreclosures continues to rise, the United States House of Representatives recently passed legislation directed at a range of players involved in the subprime crisis. 

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Read More U.S. House of Representatives Passes Subprime Legislation Targeting Wall Street Banks