Locke Lord’s Insurance & Reinsurance Newsletter provides topical snapshots of recent developments in the fast-changing world of insurance. For further information on any of the subjects covered in the newsletter, please contact one of the members of our Insurance team.
In This Issue:
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The Missouri Supreme Court has unanimously held a pollution exclusion to apply in a dispute between a lead smelting company and one of its insurers. Doe Run Resources Corporation faced litigation alleging that its smelting operations caused pollution that injured various plaintiffs. Doe Run sought defense costs from St. Paul…
Locke Lord’s Insurance & Reinsurance Newsletter provides topical snapshots of recent developments in the fast-changing world of insurance. For further information on any of the subjects covered in the newsletter, please contact one of the members of our Insurance team.
In This Issue:
…
Hurricane Maria is set to strike Puerto Rico today, with forecast wind speeds of more than 150 miles per hour. Maria already struck the Caribbean island of Dominica as a category 5 storm, with sustained winds of 160 miles per hour. Although much of Puerto Rico’s residential housing is made…
A policyholder was tricked by emails ostensibly from a vendor invoicing for work provided and sent $800,000 to the fraudster’s account. In an action filed by the insured, a federal district court for the Eastern District of Michigan has agreed with the insurer there is no coverage for the loss. …
A policyholder was hit by a fraudster that developed emails mirroring the format of the company’s emails and showing knowledge of sensitive company details. Because of the ersatz emails, company employees were tricked into arranging a $4.8 million wire transfer to the perpetrator’s account. The federal district court for the…
The Massachusetts Supreme Judicial Court has ruled that under a policy with a duty to defend, “the insurer’s duty to defend does not require it to prosecute affirmative counterclaims on behalf of its insured.” The Court, its Mount Vernon Fire Ins. Co. v. VisionAid, Inc. decision with a 5-2 vote,…
The Texas Legislature has passed new legislation that amends key provisions of Texas’s Prompt Pay Statute for insurance claims. Most types of insurance companies writing policies in Texas are required to comply with Texas’s Prompt Pay Statute in Chapter 542 of the Texas Insurance Code, and those that do not…
Three bills have recently been filed in the Massachusetts legislature that would require motor vehicle insurers to pay a minimum hourly labor rate when reimbursing repair shops in the State. Identical bills by Rep. Cabral (H494) and Sen. Welch (S599) would create this minimum rate by using the average rate…
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