For the second time in just over a year, both houses of the New York Legislature passed a bill that would reverse New York’s longstanding “no-prejudice” rule. Senate Bill 8610 and Assembly Bill 11541 (the “Bill”) prohibits insurers from denying a claim based on late notice unless the insurer can show that it was prejudiced by the untimely notice.
Read MoreLast month, www.insurereinsure.com reported on the U.S. Supreme Court’s decision in Hall Street Associates, L.L.C. v. Mattel, Inc., No. 06-989 (U.S. Mar. 25, 2008), which held that the grounds set forth in the Federal Arbitration Act (“FAA”) for vacating and modifying arbitration awards were “exclusive,” rejecting the notion that parties whose arbitration is governed by the FAA can contractually expand the scope of judicial review of the award beyond the grounds provided by the FAA.
Read MoreIn a March 3, 2008 decision, the U.S. District Court for the Southern District of New York granted a motion to dismiss for improper venue. See Aguas Lenders Recovery Group, LLC v. Suez S.A., Sociedad General De Aguas De Barcelona, S.A., and Agua y Saneamientos Argentinos S.A., Case No. 06 Civ. 7873 (RLC). The Court noted that the plaintiff could not hold defendant liable for forum waivers, where defendant was not a party to the relevant agreements and did not even exist when the agreements were created.
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