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According to a recent report in USA Today (available here), criminal attempts to use the internet to steal personal data – including credit card numbers, account user names, passwords, and Social Security numbers – have increased since the financial crisis began last fall, and could continue to accelerate if laid-off IT personnel turn to cybercrime to replace lost income. …
Read More Recent Boom in Cybercrime “Could Accelerate” Say Data Security Experts

In a recent decision of the United States District Court for the Southern District of New York, AIU Ins. Co. v. TIG Ins. Co., 07 Civ. 7052 (SHS) (HBP) (S.D.N.Y. Nov. 25, 2008), the court ordered AIU Insurance Company (AIU”) to produce documents relevant to whether prompt notice of certain claims arising under the reinsurance contracts at issue was provided to TIG Insurance Company (“TIG”). 

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Read More Southern District Orders Cedent To Produce Documents Relevant To Reinsurer’s Prompt Notice Defense

In Clayburn v. Nationwide Mut. Fire Ins. Co., 10 A.D.3d 778 (N.Y. App. Div. 3d Dept Jan. 15, 2009), a New York appellate court affirmed summary judgment in favor of the insured finding that the intentional acts exclusions in its homeowner’s policy did not bar coverage for personal injuries resulting from the insured’s bear hug of another person.  In that case, the insured engaged the underlying claimant in a bear hug after the claimant had pushed the insured’s brother to the ground. …
Read More New York Court Rules That Intentional Acts Exclusion Does Not Bar Coverage Under Homeowner’s Policy For Insured’s Liability Arising From “Bear Hug”

The maker of the Bratz line of dolls and toys recently filed suit against its commercial general liability insurer in the Central District of California alleging wrongful refusal to defend it in a lawsuit by Mattel. 

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Read More Bratz Doll Maker Sues CGL Insurer Demanding Coverage for Defense of Lawsuit By Mattel Based on Trade Disparagement Claim

On July 17, 2006, Washington State Plumbing and Pipefitting Pension Trust, on behalf of shareholders of Bermuda-based insurer Quanta Capital Holdings, Ltd. (“Quanta”), filed an amended securities class action complaint against Quanta and several of Quanta’ directors alleging that the registration and prospectus for Quanta’s common stock offering contained materially false and misleading statements in violation of Sections 11, 12(a)(2), and 15 of the Securities Act of 1933 and Sections 10(b) (including SEC Rule 10b-5 promulgated thereunder) and 20(a) of the 1934 Securities Exchange Act. 

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Read More Court Dismisses Hurricane Reserve-Related Securities Class Action

The Privacy Group at Edwards Angell Palmer & Dodge LLP invites you to a complimentary webinar on the new security and privacy requirements and federal Red Flag duties which are both effective May 1, 2009. …
Read More Free Webinar on New Federal Red Flag, Massachusetts and Other State Data Security Rules

On 29 January 2009, after two years of market consultation, the Association of Insurance and Risk Managers (AIRMIC) published a long-awaited best practice guide for claims handling. Arguing that good service within the claims handling process is crucial for the reputation of the insurer, this guide seeks to be both a tool for insurance buyers and also a reference point for insurers through the claims handling process. …
Read More UK: Best Practice Guide for Claims Handling Launched

Florida Insurance Commissioner Kevin McCarty (McCarty) announced on Thursday January 29, 2009 that he has issued a subpoena seeking detailed information from State Farm Florida Insurance Company (State Farm Florida) regarding the company’s Florida property insurance policyholders.  McCarty’s subpoena follows in the wake of State Farm Florida’s January 27, 2009 announcement that it is pulling out the Florida property insurance market (as reported here). 

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Read More Florida Insurance Commissioner Subpoenas State Farm Florida Policyholder Information