Property
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July 17, 2024
Conn. Enacts Legislation To Support Captive Insurers
Connecticut Gov. Ned Lamont signed into law an act aimed at furthering the state's commitment to the captive insurance industry, building upon the legislative efforts of recent years that have positioned Connecticut as the leading domicile for captives.
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July 17, 2024
U. Miami Climate Leader Sees Chance For Innovation
With Miami often called the "ground zero" of the climate change crisis, the University of Miami in 2022 launched a Climate Resilience Academy to coordinate an interdisciplinary response. Nearly a year into his tenure, its leader reflects on the opportunity for midsize city innovation in infrastructure in the face of climate challenges.
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July 17, 2024
Md. Justices Say Amazon Insurer Can Pursue Subrogation
An insurer for Amazon can continue to pursue subrogation against subcontractors for a Baltimore warehouse construction project, the Maryland Supreme Court unanimously ruled, after the insurer said it covered Amazon for over $50 million worth of damage caused by severe weather.
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July 16, 2024
AIG Unit Must Face Mall's COVID-19 Coverage Claims
An AIG unit must face claims that it is liable for a mall operator's losses from rent abatement agreements entered into with tenants during the COVID-19 pandemic, a California federal court ruled, also finding a material dispute about whether the policy's contamination exclusion bars coverage for pandemic-related losses.
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July 16, 2024
The 2024 Diversity Snapshot: What You Need To Know
Law firms' ongoing initiatives to address diversity challenges have driven another year of progress, with the representation of minority attorneys continuing to improve across the board, albeit at a slower pace than in previous years. Here's our data dive into minority representation at law firms in 2023.
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July 16, 2024
These Firms Have The Most Diverse Equity Partnerships
Law360’s law firm survey shows that firms' efforts to diversify their equity partner ranks are lagging. But some have embraced a broader talent pool at the equity partner level. Here are the ones that stood out.
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July 15, 2024
Resort Owner Seeks Arb. In Storm Damage Insurance Row
A resort owner seeking to arbitrate its $55 million storm damage claim told a Hawaii federal court that its insurers can't litigate in New York federal court since its policies contain a "mishmash" of forum selection requirements, while the insurers separately countered that arbitration still can't happen yet.
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July 15, 2024
Towers Watson Asks 4th Circ. To Find Merger Dispute Covered
Towers Watson's insurers must pay out $54 million in remaining directors and officers coverage to help fund a $75 million settlement in a shareholder suit over the company's merger with Willis, Towers Watson told the Fourth Circuit, saying a so-called bump-up exclusion does not apply.
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July 15, 2024
Casino Owner Says Insurer Must Face $130M COVID Loss Suit
A casino operator with properties on the Las Vegas strip and beyond asked a Nevada federal judge to keep its $130 million COVID-19 pandemic loss coverage suit alive, arguing that its insurer presented no valid reason to end the dispute.
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July 12, 2024
Law360 Names 2024's Top Attorneys Under 40
Law360 is pleased to announce the Rising Stars of 2024, our list of 158 attorneys under 40 whose legal accomplishments belie their age.
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July 11, 2024
Allstate Must Face Deflated Payments Suit, Judge Rules
Allstate cannot escape a proposed class action accusing the insurer of wrongfully depreciating labor costs as part of actual cash value payments to insureds for property damage, an Arizona federal judge ruled, finding that the named plaintiff didn't lack standing and that her claims weren't time-barred.
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July 11, 2024
NY Tells Insurers To Test AI For Discrimination Before Use
New York has set a high bar for insurers' artificial intelligence systems, recommending Thursday that they avoid the technology for underwriting or pricing unless they determine the systems and their underlying data are compliant with consumer protection laws.
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July 11, 2024
9th Circ. Won't Cancel Chubb's 'Morning Show' COVID-19 Win
The Ninth Circuit affirmed a lower court's ruling Thursday that a Chubb unit does not owe the production company behind "The Morning Show" $44 million in pandemic-related losses, ruling that the policy's provision for "imminent direct physical loss or damage" did not apply to the "potential presence" of coronavirus in the facility.
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July 11, 2024
9th Circ. To Weigh When Inter-Insurer Subrogation Is Allowed
The Ninth Circuit next Thursday will hear oral arguments on whether an excess insurer can recoup from a primary insurer its $4 million share of a $5 million wrongful death settlement, even though the total settlement sum did not exceed the insurers' combined policy limits.
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July 11, 2024
Syracuse Diocese To Notice Creditors On Ch. 11 Releases
Lawyers for the Diocese of Syracuse said they've come up with a process to collect creditor consent for third party releases in an already voted on reorganization plan, telling a New York bankruptcy judge Thursday the approach will hopefully head off confirmation issues after the U.S. Supreme Court struck down nonconsensual third party releases in Chapter 11 plans.
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July 11, 2024
Insurance Litigation Week In Review
Foreclosure prevented a man's house fire windfall, a former Georgia insurance commissioner sought a lesser sentence for his kickback scheme, Kiwanis leaders and sex abuse survivors demanded coverage, and a federal judge extended a penile enlargement injury coverage suit.
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July 11, 2024
Climate Suit Report Highlights Carrier Greenwashing Risk
A recent report highlighting global trends in climate change litigation points to a potentially significant source of exposure for insurers in the form of what are known as greenwashing suits against their insureds, and more direct risks against carriers themselves, experts say.
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July 11, 2024
Insurer Can Tap Trust Fund For Old Claims, Mass. Court Says
A Massachusetts intermediate appellate court concluded Thursday that workers' compensation insurers who are no longer selling policies in the state but still paying benefits on older claims are entitled to seek partial reimbursement from an employer-funded state trust fund, reversing its own prior holding on the question.
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July 11, 2024
Connell Foley Attys Part Of NJ Insurance Trio At Kennedys
Global law firm Kennedys CMK has brought on two former Connell Foley LLP attorneys and a former senior litigation counsel for an insurer to bolster its insurance coverage team in New Jersey, the firm announced Thursday.
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July 11, 2024
Mich. Asks Appeals Court To Rethink Nationwide's Tax Win
Michigan insurance companies that are part of Nationwide are required to file taxes as individual entities and not as a unitary group, Michigan's tax department said, asking the state Court of Appeals to reconsider its opinion in the case.
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July 10, 2024
7th Circ. Says Foreclosure Limits Man's Fire Coverage Claim
A homeowner did not have an insurable interest in the full value of a home that burned down while in foreclosure, the Seventh Circuit ruled, affirming that recovery was limited to the value of his temporary right to possess the property until 30 days after its judicial sale was confirmed.
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July 10, 2024
Insurer, Property Cos. Settle Lead Poisoning Coverage Suit
An insurer for a Detroit property owner and manager told a Michigan federal court they have settled their coverage dispute over a woman's claims that her 2-year-old girl suffered lead poisoning at the property, which she said was left in a state of disrepair.
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July 10, 2024
Wash. Condo Assoc. Wants Allstate To Cover $9.7M In Repairs
A Washington condominium association is suing Allstate Insurance Co. in federal court, saying it broke their coverage agreement by refusing to cover $9.7 million in repairs for "hidden damage" to the buildings' exteriors.
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July 09, 2024
Insurer Seeks $1.7M For Damaged Concert Gear
An insurer is seeking to recoup over $1.7 million in damages it incurred after concert gear was damaged en route to New York from Belgium, telling a New York federal court Tuesday that a shipping company owed a duty to the cargo's owner to deliver its products safely.
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July 05, 2024
Insurers Allegedly Evaded Kiwanis Foster Home Abuse Claims
Insurers owned by Travelers, AIG and other big-name insurance groups have been accused of dodging their duty to pay a multimillion-dollar judgment resolving child sex abuse survivors' claims against a foster boys home that was run by Kiwanis International, according to a new lawsuit in Washington federal court.
The Top Property Insurance Decisions of 2024 So Far
Two major state supreme court decisions on insurance coverage for pandemic losses and a Colorado ruling on whether policyholders can be excused for making late homeowners claims are among the top property insurance decisions of 2024 so far.
Curtains Fall Rapidly For COVID-19 Loss Coverage
Just as Metallica's bid for COVID-19 cancellation coverage failed, the bell has tolled for policyholder coverage suits across the nation, as businesses seeking payback from insurers for the havoc wreaked by the global pandemic have run out of options for coverage in many states. Here, Law360 takes a look at what the future holds for pandemic-related coverage.
Proposed Calif. Insurance Tradeoff Draws Mixed Reactions
Insurance industry representatives and consumer advocates in California are pitching opposing visions for a proposed regulatory tradeoff at the heart of state officials’ efforts to increase homeowners insurance availability at a time of heightening wildfire risks.
Expert Analysis
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7th Circ Joins Trend Of No CGL Coverage For Structural Flaws
The Seventh Circuit, which recently held potential structural instability did not count as property damage under a construction company's commercial general liability policy, joins a growing consensus that faulty work does not implicate coverage without tangible and present damage to the project, say Sarah Abrams at Baleen Specialty, and Elan Kandel and James Talbert at Bailey Cavalieri.
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New La. Managing Agent Law May Portend Growing Scrutiny
Recent amendments to Louisiana’s managing general agent regulations impose expansive new obligations on such agents and their insurer partners, which may be a sign of heightened regulatory, commercial and rating agency scrutiny, say attorneys at McDermott.
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What Fla. Ruling Means For Insurer Managed Repair Programs
A recent Florida state court ruling in Fraga v. Citizens Property Insurance, holding that the insurer could not seek to add additional terms in its managed repair program consent form, should promote clear written contract terms that clarify the relationship between insurers, policyholders and contractors, says Chip Merlin at Merlin Law Group.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.