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USA - February 22 2013
In U.S. Fid. & Guar. Co. v. American Re-Ins. Co., 2013 WL 451666, 2013 N.Y. Slip Op. 00784 (N.Y. Feb. 7, 2013), the New York Court of Appeals…
USA - September 7 2012
Policyholders with environmental liabilities dating back to the 1960s, 1970s and early 1980s were handed a major new weapon to use in their efforts to collect indemnity from their insurers by the California Supreme Court in the recent decision of State v. Continental Ins. Co., No. S170560, 2012 WL 3206561 (Cal. Aug. 9, 2012).
USA - July 27 2012
In Pruco Life Ins. Co. v. Brasner, No. 10-cv-80804, slip op. (S.D. Fla. Jul. 25, 2012) (Brasner III), the US District Court for the Southern District of Florida granted defendant Wells Fargo Bank, N.A.’s (Wells Fargo) post-trial motion for reconsideration, holding that, based on newly discovered evidence, it was entitled to a trial on the issue of whether the plaintiff, Pruco Life Insurance Company (Pruco), should be required to return premiums paid by Wells Fargo for the subject policy after Wells Fargo had acquired the policy in the secondary market.
USA - July 2 2012
The federal court in Delaware recently issued the first decision applying the insurable interest standards articulated by the Delaware Supreme Court last year in the context of a life insurance policy purchased with borrowed funds.
USA - March 27 2012
A common strategy in rescission cases where life insurance carriers are primarily litigating with market investors is for the carrier to seek to retain all premiums as an offset to damages it has allegedly sustained.
