Property

Expert Analysis

• NY Banking Brief: All The Notable Legal Updates In Q2

  

  The second quarter of 2024 saw less enforcement activity in the realm of New York financial services, but brought substantial regulatory and legislative developments, including state regulators' guidance on cybersecurity compliance and customer service processes for virtual currency entities, say James Vivenzio and Andrew Lucas at Perkins Coie.

• Takeaways From Justices' Redemption Insurance Decision

  

  The U.S. Supreme Court’s recent decision in Connelly v. U.S. examines how to determine the fair market value of shares in a closely held company for estate tax purposes, and clarifies how life insurance held by the company to enable redemption of a decedent’s shares affects that calculation, says Evelyn Haralampu at Burns & Levinson.

• Managing Legal Risks After University Gaza Protests

  

  Following the protests sparked by the war in Gaza, colleges and universities should expect a long investigative tail and take steps to mitigate risks associated with compliance issues under various legal frameworks and institutional policies, say Wiley's Diana Shaw and Colin Cloherty.

• An Insurance Coverage Checklist For PFAS Defendants

  

  With PFAS liability exposures attracting increased media attention, now is a good time for companies that could be exposed to liability related to per- and polyfluoroalkyl substances to review existing and past insurance policies, and consider taking proactive steps to maximize their likelihood of coverage, say attorneys at Nossaman.

• Circuit Judge Writes An Opinion, AI Helps: What Now?

  

  Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.

• Trauma-Informed Legal Approaches For Pro Bono Attorneys

  

  As National Trauma Awareness Month ends, pro bono attorneys should nevertheless continue to acknowledge the mental and physical effects of trauma, allowing them to better represent clients, and protect themselves from compassion fatigue and burnout, say Katherine Cronin at Stinson and Katharine Manning at Blackbird.

• Tips For Advising CRE Owners Affected By Houston Storms

  

  As Houston residents begin the arduous process of recovery after this month's devastating storms, attorneys should guide commercial real estate owners and managers toward immediate action under their insurance coverage to facilitate restoration and a return to normalcy, says Justin Ratley at Munsch Hardt.

• Key Insurance Considerations After $725M Benzene Verdict

  

  The recent massive benzene verdict in Gill v. Exxon Mobil will certainly trigger insurance questions — and likely a new wave of benzene suits — so potential defendants should study Radiator Specialty v. Arrowood Indemnity, the only state high court decision regarding benzene claim coverage, says Jonathan Hardin at Perkins Coie.

• 3rd Circ.'s Geico Ruling May Encourage Healthcare Arbitration

  

  The Third Circuit's recent decision in Geico v. Mount Prospect, finding that claims under New Jersey's Insurance Fraud Prevention Act can be arbitrated, strengthens arbitration as a viable alternative to litigation, even though it is not necessarily always a more favorable forum, say Khaled Klele and Jessica Osterlof at McCarter & English.

• Key Lessons From Recent Insurance Policy Reform Litigation

  

  A review of recent case law reveals the wide range of misunderstandings that may arise between insurers and policyholders in the purchase and renewal of insurance policies, as well as the utility — and the limits — of reformation and related remedies for these misunderstandings, say Jad Khazem and Seth Tucker at Covington.

• Insurance Types That May Help Cos. After Key Bridge Collapse

  

  Following the collapse of the Francis Scott Key Bridge, businesses that depend on the bridge, the Port of Baltimore and related infrastructure for shipment and distribution of cargo should understand which common types of first-party insurance coverage may provide recoveries for financial losses, say Bert Wells and Richard Lewis at Reed Smith.

• Exploring An Alternative Model Of Litigation Finance

  

  A new model of litigation finance, most aptly described as insurance-backed litigation funding, differs from traditional funding in two key ways, and the process of securing it involves three primary steps, say Bob Koneck, Christopher Le Neve Foster and Richard Butters at Atlantic Global Risk LLC.

• Leveraging Insurance Amid Microplastics Concerns

  

  A pending microplastics lawsuit — New York v. PepsiCo Inc. — may be a harbinger of what is to come for companies whose products are exposed to the environment, so any company considering how to address microplastics liability should include a careful assessment of the potential for insurance coverage in its due diligence, say attorneys at Haynes Boone.