Read More Massachusetts Recognizes Common Interest Doctrine, Joint Defense Privilege
Coverage & Claims
Massachusetts’ highest court recently formally recognized joint defense agreements as an exception to waiver of the attorney-client privilege under the common interest doctrine. Hanover Ins. Co. v. Rapo & Jepsen Ins. Svcs., Inc., Docket No. SJC-09780 (August 3, 2007).
Fifth Circuit Rules in Favor of Flood Exclusions
By Troutman Pepper Locke on
As we wrote about here, the Fifth Circuit heard oral argument on June 5 on the appeal of Judge Duval’s November 2006 decision on the enforceability of various policies’ flood exclusions. On August 2, the Fifth Circuit issued its opinion and partially reversed Judge Duval’s decision.
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Read More Fifth Circuit Rules in Favor of Flood Exclusions
Split of Authority: Does An Acquiring Company Obtain An Acquired Company’s Coverage For Pre-Acquisition Losses?
By Troutman Pepper Locke on
Posted in Coverage & Claims, United States
The Indiana Court of Appeals recently held that a company that acquires liabilities through a merger or acquisition may seek coverage under the acquired company’s occurrence-based insurance policies for losses that occurred before merger or acquisition.
Consumer Federation Of America Urges Ban On Anti-Concurrent-Causation Clauses
By Troutman Pepper Locke on
In a letter dated June 25, 2007, the Consumer Federation of America urged insurance commissioners around the country to ban the use of anti-concurrent-causation clauses (“ACC clauses”) in insurance policies.
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Read More Consumer Federation Of America Urges Ban On Anti-Concurrent-Causation Clauses
Massachusetts Insurers Insolvency Fund Not Implicated Until Uninsured Motor Vehicle Coverage Is Exhausted
On July 12, 2007, the Massachusetts Supreme Judicial Court held that, where a vehicle causing an accident is owned by a governmental entity and is insured by an insolvent insurer, the Massachusetts Insurers Insolvency Fund is not obligated to compensate the injured individual unless and until the injured individual’s own uninsured motor vehicle coverage has been exhausted.
Florida’s Claims Administration Statute: Use it or Lose it
By Troutman Pepper Locke on
An Insurer issuing liability policies in Florida must comply with Florida’s Claims Administration Statute, Florida Statutes §627.426, or risk waiving otherwise viable “coverage defenses.”
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Read More Florida’s Claims Administration Statute: Use it or Lose it
NYAG Sues ExxonMobil over Alleged 17-million-gallon Oil Spill in New York City
By Troutman Pepper Locke on
On July 17, 2007, New York Attorney General (“NYAG”) Andrew M. Cuomo filed suit against the ExxonMobil Corporation and ExxonMobil Refining and Supply Company “to force the cleanup of a 17-million-gallon oil spill in Greenpoint, Brooklyn, and to restore Newtown Creek, the contaminated waterway separating Queens from Brooklyn.”
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Read More NYAG Sues ExxonMobil over Alleged 17-million-gallon Oil Spill in New York City
Federal Court Dismisses RICO Complaint Against Coventry
By Troutman Pepper Locke on
A federal district court has dismissed a complaint containing seven claims, including three RICO claims, against Coventry First LLC and several related corporate entities and principals.
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Read More Federal Court Dismisses RICO Complaint Against Coventry
U.S. Attorney To Appeal KPMG Dismissals
By Troutman Pepper Locke on
As anticipated, the U.S. Attorney for the Southern District of New York filed official notice on Monday, July 17 that it intends to appeal U.S. District Judge Lewis A. Kaplan’s recent dismissal of criminal tax fraud charges against 13 out of 16 former KPMG employees.
Travelers Enters Settlement with ACandS, Ending “Potentially Unlimited” Exposure; Plan Includes Reinsurance Allocation
By Troutman Pepper Locke on
The Travelers Companies, Inc. has announced a settlement with ACandS Inc. to resolve all current and future asbestos-related coverage claims. ACandS, an insulation contractor, has been undergoing Chapter 11 reorganization since 2002, and its bankruptcy counsel has described the Travelers insurance coverage as “the most important asset of ACandS’s bankruptcy estate.”