Insurance commissioner elections were held Tuesday in California, Georgia, Kansas and Oklahoma.
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Connecticut Developments
Second Circuit Finds that Portion of Cedent’s Loss is Outside the Scope of the Reinsurance Agreement, Relieving Reinsurer of any Obligation to Follow the Fortunes
We previously blogged about the District of Connecticut’s decision in Arrowood Surplus Lines Ins. Co. v. Westport Ins. Corp., No. 08-cv-1393 (D. Conn. 2010), in which the court held that a reinsurer had no duty to honor the portion of a cedent’s loss that was outside the scope of the reinsurance agreement at issue. In that case, Equity Residential argued that a policy issued to it by Arrowood Surplus Lines Insurance Company had a three-year period and sought coverage for losses that occurred from December 15, 1999 to December 15, 2002.
Read More Second Circuit Finds that Portion of Cedent’s Loss is Outside the Scope of the Reinsurance Agreement, Relieving Reinsurer of any Obligation to Follow the Fortunes
Cigarette Rule Update – Still Smokin’ in Connecticut
In a February 8, 2010 blog post, which can be found here, we reported on a then-recent jury verdict in which a Connecticut jury awarded nearly $15 million to a class of automotive body shop plaintiffs based on the jury’s finding that the insurance company defendant violated the Connecticut Unfair Trade Practices Act. …
Read More Cigarette Rule Update – Still Smokin’ in Connecticut
Connecticut State Court Finds that a Court is Permitted to Remand an Arbitration Award to Panel for Clarification Post-Hall Street
By Troutman Pepper Locke on
Plaintiff Hartford Steam Boiler Inspection and Insurance Company (“Hartford”) appealed a decision permitting a court to remand a dispute over an arbitral award to the arbitration panel for clarification of that award. Hartford argued that the court’s holding was overruled by the U.S. Supreme Court’s decision in Hall Street Associates, LLC v. Mattel, Inc., 552 U.S. 576 (2008). …
Read More Connecticut State Court Finds that a Court is Permitted to Remand an Arbitration Award to Panel for Clarification Post-Hall Street
Connecticut Supreme Court Limits Attorney General’s Power to Disclose Documents Subpoenaed from Insurer
By Troutman Pepper Locke on
Last week, the Connecticut Supreme Court issued a ruling in which it placed several restrictions on the uses that the Connecticut Attorney General (AG) may make of documents subpoenaed from a Florida-based insurer during an antitrust investigation. …
Read More Connecticut Supreme Court Limits Attorney General’s Power to Disclose Documents Subpoenaed from Insurer
Life Insurer Use of Retained Asset Accounts Under Fire by State Attorneys General
Spurred by media reports alleging deception by some life insurers in their use of retained asset accounts[1] for disbursing death benefits to the beneficiaries of fallen United States military personnel and the apparent lack of oversight by federal and state regulators, New York Attorney General, and gubernatorial hopeful, Andrew Cuomo has issued subpoenas to leading life insurers regarding their alleged “reaping [of] hundreds of millions in secret profits while misleading families into putting benefits into insurer controlled, low yield, potentially risky accounts.” …
Read More Life Insurer Use of Retained Asset Accounts Under Fire by State Attorneys General
Connecticut District Court: Insurer’s Default Judgment Does Not Necessarily Preclude Litigation in Subrogation Action
By Troutman Pepper Locke on
A Connecticut District Court recently held that plaintiffs, who brought a subrogation action to recover a judgment entered in their favor in an underlying legal malpractice action against their attorneys, were entitled to litigate coverage issues even though the attorneys’ insurer obtained a default judgment against the attorneys in a separate coverage action. …
Read More Connecticut District Court: Insurer’s Default Judgment Does Not Necessarily Preclude Litigation in Subrogation Action
Connecticut Supreme Court Affirms Summary Judgment for Insurer on Because Prior Administrative Proceeding for Unemployment Benefits Constituted a Related Claim
By Troutman Pepper Locke on
The Connecticut Supreme Court recently affirmed summary judgment in favor of an insurance company on the basis that a wrongful termination lawsuit against an insured was related to a prior administrative action for unemployment benefits and was therefore excluded by the policy. …
Read More Connecticut Supreme Court Affirms Summary Judgment for Insurer on Because Prior Administrative Proceeding for Unemployment Benefits Constituted a Related Claim
World Cup Insurance Estimated at Over 6 Billion Pounds
According to an estimate provided by Lloyd’s of London, over £6.2 billion worth of insurance coverage has been purchased by individuals and entities in connection with the 2010 FIFA World Cup, which begins today. Over half of that amount is for coverage for stadiums and training facilities, which reflects the vast amount of money that has been spent constructing and upgrading stadiums ($5.5 billion, according to the New York Times). …
Read More World Cup Insurance Estimated at Over 6 Billion Pounds
Court Holds Coverage for Madoff Suits Excluded Under Policy’s Insolvency Exclusion
By Troutman Pepper Locke on
The US District Court for the District of Connecticut recently dismissed a customer suit against an insurer, based upon its determination that all of the underlying claims were excluded by the policy’s Insolvency Exclusion. …
Read More Court Holds Coverage for Madoff Suits Excluded Under Policy’s Insolvency Exclusion