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Liability under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, otherwise known as the Superfund statute) is strict, and in most cases joint and several.  The total cost for Superfund clean ups can range into the hundreds of millions and even billions of dollars. …
Read More Four Years Later: How Has BNSF Changed CERCLA Practice?

In Refcomp SpA v Axa Corporate Solutions Assurance SA [Case C-543/10], the Advocate General of the Court of Justice of the European Union (CJEU, previously known as the European Court of Justice) interpreted Article 23 of Council Regulation (EC) No. 44/2001 on jurisdiction (the Article) to mean that where the general terms of a sale of goods contract incorporated a clause conferring jurisdiction, that clause could only be relied upon against the original parties to the contract. …
Read More Europe: The Opinion of the Advocate General on applicability of choice of law clauses in the context of subrogated claims

D&O carriers and brokers will want to keep October 2013 on their calendars.  At a hearing three weeks ago, a UK High Court judge set that month as the date for trial in Graiseley Properties Limited v. Barclays Bank PLC.  It is the first civil suit against a major UK bank concerning manipulation of the London Interbank Offered Rate to be allowed to proceed. …
Read More Barclays to Face First LIBOR Trial in October 2013

According to industry press, insurance linked security and catastrophe funds are reporting varying performance results stemming from Super Storm Sandy (the “Storm” or “Sandy”), with some funds reporting greater mark-to-market losses than others. …
Read More Insurance Linked Securities Industry Reports Varied Effects of Sandy on Fund Performance in October

Edwards Wildman Speakers:  John D. Hughes, Mary-Pat Cormier, Charles Proctor

This program will briefly address the origins of the LIBOR isue and the background facts allegedly supporting the LIBOR claims brought in the US; then the nature of those claims, the defendants, and the defenses asserted by those defendants; and then finally the types of insurances policies implicated by these claims; and the coverage issues which these claims will raise with respect to these policies. 
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Read More REMINDER Complimentary Edwards Wildman Webinar – LIBOR Litigation: Spotlight on Insurance Coverage

In a new decision, the Court of Appeals of Ohio ruled that a life insurer is under no duty to search the Social Security Death Master File (“DMF”) to independently determine on an annual basis whether policyholders deceased prior to the insurer receiving proof of death from beneficiaries or claimants.  See Andrews v. Nationwide Mutual Insurance Company, No. 97891 (Ohio Ct. App. Oct. 25, 2012). …
Read More Ohio Court of Appeals Holds Life Insurer Has No Affirmative Duty to Search Social Security Death Master File

Seven years ago, Hurricane Katrina made landfall in New Orleans.  In the days that followed Katrina, we and others who focus on questions of insurance coverage debated whether the devastation in Mississippi and Louisiana had been caused by water or by wind.  We discussed slabs, anti-concurrent causation clauses, levees, efficient proximate cause, valued policy laws, and local and national political dynamics. …
Read More Sandy: Déjà Vu?

Effective January 1, 2013, Massachusetts long-term care insurance (“LTCi”) policies must comply with Senate Bill 2359, legislation that establishes a new chapter 176S in the General Laws that sets forth statutory standards specifically for LTCi.  Previously, LTCi statutory standards were set by reference to the accident and health provisions of Chapter 175 of the General Laws of the Commonwealth. …
Read More Long-term Care Insurance Act Passed in Massachusetts