In an unpublished opinion, the Eleventh Circuit recently affirmed the trial court’s decision that a D&O policy does not provide coverage for third-party property damage claims.
Read More Eleventh Circuit Upholds That D&O Policy Does Not Provide Coverage for Claims Arising Out of Property Damage Under Florida Law
Coverage & Claims
UK: High Court Refuses Compensation for Exaggerated Claim
In Farid Yeganeh v Zurich Plc and Zurich Insurance Company 2009 Folio 244, the High Court found that Zurich did not have to pay any compensation to Mr Yeganeh as he had breached a condition of his insurance policy by making fraudulent claims for property lost in a house fire. …
Read More UK: High Court Refuses Compensation for Exaggerated Claim
Pennsylvania Federal Court Dismisses Bad Faith Claim as Subsumed by Breach of Contract Claim, But Allows Statutory Bad Faith Claim
Recently, a Pennsylvania federal court dismissed a bad faith claim against an insurer on the grounds that the claim was subsumed by the plaintiff’s breach of contract claim in the same proceeding. …
Read More Pennsylvania Federal Court Dismisses Bad Faith Claim as Subsumed by Breach of Contract Claim, But Allows Statutory Bad Faith Claim
UK: Commercial Court Upholds Tribunal Award Limiting Recovery Under Business Interruption Policy
The Commercial Court has upheld an arbitration award on business interruption insurance that used a “but for” approach to causation with the effect of limiting recovery by the insured. …
Read More UK: Commercial Court Upholds Tribunal Award Limiting Recovery Under Business Interruption Policy
Second Circuit: Distinguishing Between Policy Definitions Subject to NY Insurance Law § 3420(d)(2)’s Timely Disclaimer Requirement as an Exclusion and Those That Are Not
In a decision issued on February 1, 2010, the United Stated Court of Appeals for the Second Circuit confirmed that under New York law some policy provisions, although placed outside of the policy’s “Exclusions” section, may nonetheless be considered an exclusion and, therefore, subject to the timely disclaimer and denial requirement of NY Insurance Law § 3420(d)(2). …
Read More Second Circuit: Distinguishing Between Policy Definitions Subject to NY Insurance Law § 3420(d)(2)’s Timely Disclaimer Requirement as an Exclusion and Those That Are Not
UPDATE: New Estimates Double — BP Oil Spill is the Equivalent to the Exxon Valdez Disaster Gushing Into the Gulf of Mexico Every 8 to 10 Days
The Flow Rate Technical Group, a federal panel, now estimate that 20,000 to 40,000 barrels of oil a day are flowing into the Gulf of Mexico as a result of the Deepwater Horizon explosion. This new range is far above the previous estimate of 12,000 to 19,000 barrels per day. …
Read More UPDATE: New Estimates Double — BP Oil Spill is the Equivalent to the Exxon Valdez Disaster Gushing Into the Gulf of Mexico Every 8 to 10 Days
Update: Moody’s Estimates that BP Spill Could Cost Insurers $3.5 Billion
This updates our June 1, 2010 posting. The still-growing Deepwater Horizon oil spill in the Gulf of Mexico could combine with a hurricane to cause devastation along the Gulf Coast and trigger trouble for insurers, Moody’s warned. …
Read More Update: Moody’s Estimates that BP Spill Could Cost Insurers $3.5 Billion
Recent Second Circuit Decision Denies Insurance Claims Against Italian Insurer on Holocaust-era Policies ― Upcoming Supreme Court Nominee’s Senate Judiciary Committee Hearing to Focus on the Decision
In a recent decision, In re Assicurazioni Generali, 592 F.3d 113 (2d Cir. 2010) (“Generali”), the United States Court of Appeals for the Second Circuit affirmed the dismissal of plaintiffs’ claims on the ground that they were preempted by an Executive Branch foreign policy favoring the resolution of such claims solely through the International Commission on Holocaust Era Insurance Claims (“ICHEIC”). …
Read More Recent Second Circuit Decision Denies Insurance Claims Against Italian Insurer on Holocaust-era Policies ― Upcoming Supreme Court Nominee’s Senate Judiciary Committee Hearing to Focus on the Decision
Third Circuit Holds That Drunken Shooting Attempt Is Not An “Accident” For Purposes Of Insurance Coverage
The Third Circuit recently held that an insured who, while intoxicated, allegedly attempted to shoot another person was not covered under his homeowner’s insurance policies for the resulting liability, as the attempted shooting could not constitute an “accident.” …
Read More Third Circuit Holds That Drunken Shooting Attempt Is Not An “Accident” For Purposes Of Insurance Coverage
Connecticut Supreme Court Affirms Summary Judgment for Insurer on Because Prior Administrative Proceeding for Unemployment Benefits Constituted a Related Claim
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