New York Appellate Division affirms lower court’s ruling that excess insurers have no payment obligations where the insured fails to satisfy conditions precedent to exhaustion *

USA - August 9 2012
In JP Morgan Chase & Co. v Indian Harbor Ins. Co., 2012 NY Slip Op 4702 (N.Y. App. Div. 1st Dep't June 12, 2012), the New York Appellate Division, applying Illinois law, held that an insured was unable to access numerous excess layers due to its failure to show that the exhaustion provisions in the excess policies had been satisfied.

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New York court holds that additional insureds are not entitled to GL coverage where the policy is rescinded due to the named insured’s material misrepresentations *

USA - August 8 2012
The New York State Court of Appeals has ruled that additional insureds are not entitled to coverage under a general liability policy if that policy is rescinded due to the named insured’s material misrepresentations.

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Texas Supreme Court holds that workers' compensation carriers are not subject to common law bad faith claims *

USA - June 25 2012
The Texas Supreme Court recently issued its landmark opinion in the rehearing of Texas Mutual Insurance Co. v. Ruttiger, No. 08-0751 (Tex. June 22, 2012).

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Potential insurance implications of the JOBS Act *

USA - May 2 2012
On April 5, 2012, President Obama signed the JOBS (Jumpstart Our Business Startups) Act into law. 

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FDIC continues D&O suits against failed banks *

USA - August 25 2011
On August 22, 2011, the FDIC sued 17 former directors and officers of Silverton Bank (“Silverton”), as well as two of Silverton’s D&O insurers.

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