Texas Legislature Amends Prompt Pay Statute for Insurance Claims
The Texas Legislature has passed new legislation that amends key provisions of Texas’s Prompt Pay Statute for insurance claims.
Read MoreTopic: Coverage & Claims
Auto Labor Rate Legislation in Massachusetts
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.
Read More3rd Circuit Upholds Asbestos Exclusion Under Pennsylvania Law
The federal Third Circuit Court of Appeals has enforced a Travelers asbestos exclusion, finding it to be unambiguous. In General Refractories Co. v. First State Ins. Co., the court analyzed language that read: “It is agreed that this policy does not apply to [loss] arising out of asbestos…”
Read More9th Circuit Requires Excess Insurer to Contribute to Deal Reached by Insured and Primary Insurer
A new federal 9th Circuit appellate decision has ruled for the insured in its suit against its excess insurer that refused to contribute to a settlement. The district court denied the excess insurer’s motion for summary judgment that said the insured failed to secure its consent to the settlement as required by the excess policy.
Read MoreLong Tales About Long Tails – Connecticut’s Appellate Court Makes New Law
In a sprawling 163 page opinion issued just last week, the Connecticut Appellate Court addressed, as a matter of first impression, five different issues that will significantly affect the disposition of asbestos, and potentially other, long tail claims in Connecticut.
Read MorePlease Join Us – Insurance M&A and Capital Raising Roundtable
Please join BDO USA, LLP, Locke Lord LLP, and Sandler O’Neill + Partners, L.P. for a complimentary breakfast briefing. This event will highlight key considerations in a successful M&A transaction or capital raising transaction in today’s economic climate for the insurance industry – what do we anticipate next?
Insurance and Reinsurance Newsletter – January 2017
Locke Lord’s Insurance & Reinsurance Newsletter provides topical snapshots of recent developments in the fast-changing world of insurance.
Read MoreLiberty v. Ledesma and Meyer Construction, Case No. 14-56120 (9th Cir. 2016)
The California Supreme Court is poised to answer the following unsettled question of California law certified by the Ninth Circuit Court of Appeals on August 22, 2016 (see order here): “Whether there is an ‘occurrence’ under an employer’s commercial general liability policy when an injured third party brings claims against the employer for the negligent hiring, retention, and supervision of the employee who intentionally injured the third party.”
Read MoreSouth Carolina Endorses Pro Rata Allocation
A new South Carolina Supreme Court decision has upheld a pro rata allocation of progressive damages.
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