Coverage & Claims

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Louisiana Governor Bobby Jindal signed legislation that bans insurers from cancelling or non-renewing homeowners insurance coverage when a policyholder files a claim based on Chinese Manufactured drywall.  As previously reported here, Louisiana state Senate Bill, SB 595, was sponsored by State Senator Julie Quinn (R-Metairie) and unanimously passed the Louisiana Senate on April 26, 2010. …
Read More Chinese Drywall – Louisiana Legislature Bans Policy Cancellations and Non-Renewals Based upon Drywall Claims

Britain’s The Sun reports that Robertson Taylor – music industry broker for Lloyd’s of London – is reportedly handling a claim of approximately $18 million for the now infamous back injury incurred by U2’s front man Bono during U.S. tour rehearsals.  Bono required emergency surgery, and U2 had to subsequently postpone their U.S. summer tour and cancel their headlining appearance at the Glastonbury Festival. …
Read More Bono’s Back Injury is Underwriters’ $18 Million Pain

In the matter of Royal & Sun Alliance Insurance Plc and others v Rolls-Royce Plc [2010] EWHC 1869 (Comm), which arose from parallel proceedings being pursued in England and Florida, the Court made clear that English proceedings will not be stayed in such instances unless it is shown that the foreign court is clearly the most appropriate forum. …
Read More UK: English High Court Refuses to Stay English Proceedings in Favour of the Florida Courts

In Mt. McKinley Ins. Co. v. Corning Inc., 2010 NY Slip Op 20235 (N.Y. Sup. Ct. June 14, 2010), an insured (“Corning”) moved to compel discovery of reinsurance and reserve information from its insurers, arguing that this information was relevant, material and necessary to its coverage claim.  Specifically, Corning alleged that the reinsurance information sought could be relevant to the insurers’ liability for the asbestos claims at issue (including whether the insurers took inconsistent coverage positions with their reinsurers) and to rebut the insurers’ claims of late notice. …
Read More New York State Court Denies Motion to Compel Discovery of Reinsurance and Reserve Information

California Insurance Commissioner Steve Poizner announced on July 1, 2010 that insurers in his state had sold about 20% of the assets the industry holds in the 50 companies that the California Department of Insurance (“CDI”) has identified as doing business with Iran’s nuclear, energy and defense sectors. …
Read More California Insurers Divest $400 Million in Iran-Related Assets

According to a recent article in the Washington Post, “Tehran’s ability to ship vital goods has been significantly curtailed as some of the world’s most powerful Western insurance companies cut off Iranian shippers out of fear that they could run afoul of U.S. laws, the insurers say.”  In light of the U.S. sanctions against Iran which followed the U.N.’s set of sanctions, companies have become more hesitant to conduct business with their Iranian counterparts for fear of running afoul of the U.S. sanctions. …
Read More Iran’s Shipping Industry Suffers as Foreign Insurer’s Withhold Coverage

Canada is set to impose new sanctions against Iran on Monday, according to the Globe and Mail.  This move underscores Canada’s alignment with the U.S. and European Union, which have imposed tougher sanctions than those approved earlier by the United Nations in order to further pressure Tehran to drop what is widely believed to be a nuclear-weapons program. …
Read More Canada Set to Impose New Unilateral Sanctions Against Iran

In Persimmon Homes Ltd v Great Lakes Reinsurance (UK) Plc [2010] EWHC 1705 (Comm), the High Court ruled that dishonesty on the part of a claimant which has taken out after the event (ATE) insurance can amount to a material non-disclosure such that the insurer may avoid the policy. …
Read More UK: English High Court Rules on Purported Avoidance of After the Event Insurance

ERISA litigation, once considered a dull backwater of the law, has been gaining increased interest and attention in recent years:  the result of an aging population and an increasingly sophisticated and aggressive plaintiffs’ bar. …
Read More ERISA Litigation: An Update from the ALI-ABA Conference on Financial and Insurance Litigation

This panel offered the insights of a federal district court judge, defense counsel and plaintiffs’ counsel regarding Class Action Procedure, focusing on trends regarding the class certification process. …
Read More Live Blog: Class Action Procedure: The Latest Developments from ALI-ABA Conference on Insurance and Financial Services Litigation