Three recent Massachusetts cases touched on issues of significance to insurers doing business in and around the Commonwealth. 

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Read More Massachusetts Courts Weigh In On Conflicts of Law, Bad Faith Damages And Duty To Defend

In a recently filed lawsuit, talk show host Larry King alleges that he was deceived into selling two life insurance policies by The Meltzer Group.  King is suing the firm and its principal, Alan Meltzer, for breach of fiduciary duty. …
Read More Larry King Sues Insurance Company Over Sold Policies

The New York Court of Appeals recently rejected an insured’s argument that the placement of a “Relation of Earnings to Insurance” (REI) Clause within the “General Provisions” of a disability insurance policy rendered the clause deceptive and unenforceable. 

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Read More New York’s Highest Court: “Relations of Earnings to Insurance” Clause Located In “General Provisions” Section of Disability Insurance Policy Is Enforceable

A team of  Edwards Angell Palmer & Dodge LLP lawyers representing Bank of America Corporation recently completed the sale of its commercial insurance brokerage, Banc of America Corporate Insurance Agency, LLC (“BACIA”), to Hilb Rogal & Hobbs Company (“HRH”). 

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Read More Bank of America Corp. Completes Sale of Its Commercial Insurance Brokerage

Edwards Angell Palmer & Dodge attorneys recently obtained dismissal of a $20,000,000 New York state court declaratory judgment action against American International Specialty Lines Insurance Company (AISLIC), an AIG-affiliated entity. 

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Read More New York State Court Dismisses Coverage Claim On Basis Of “Owned Property” Exclusion

In a recent decision from a federal court in Georgia, Executive Risk Indem., Inc. v. AFC Enterprises, Inc., an insurer sought a declaratory judgment that it properly rescinded a D & O policy based on the insured’s material misrepresentations in the application of insurance. 

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Read More D&O Insurer not Liable for Bad Faith Damages

In the wake of New York Superintendent Eric Dinallo’s announcement that New York was changing the rules surrounding collateral requirements for foreign reinsurers, it was reported last week that several other U.S. states are contemplating similar changes. 

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Read More Other States Contemplate Following N.Y.’s Lead to Change Foreign Reinsurer Collateral Requirements

Several members of Edwards Angell Palmer & Dodge’s Insurance and Reinsurance Department recently attended an interesting meeting with representatives of the Office of the Commissioner of Insurance of the Commonwealth of Puerto Rico. 

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Read More The International Insurance Center of Puerto Rico

For years, the IRS has attacked the tax treatment of insurance of captive insurance and their affiliates to preclude captive insurance companies from deducting payments to captive insurance companies as premiums and instead treat them as capital contributions. …
Read More If at First You Don’t Succeed…: The IRS’ Proposed Regulations Governing the Treatment of Captive Insurance Companies

On August 23, 2007, Louisiana Attorney General, Charles C. Foti, Jr. filed a lawsuit accusing over one hundred insurance companies of improperly denying Katrina related damages.  The action was brought on behalf of homeowners who are eligible to receive funds through the Road Home Program (“Program”). 

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Read More Louisiana AG Sues More Than One Hundred Insurance Companies Over Katrina-Related Damages