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Results: 1-10 of 581

New York State Court denies motion to compel discovery of reinsurance and reserve information

  • Locke Lord LLP
  • -
  • USA
  • -
  • July 29 2010

In Mt. McKinley Ins. Co. v. Corning Inc., 2010 NY Slip Op 20235 (N.Y. Sup. Ct. June 14, 2010), an insured (“Corning”) moved to compel discovery of reinsurance and reserve information from its insurers, arguing that this information was relevant, material and necessary to its coverage claim

Connecticut Federal Court: multiple unfair practices in the handling of a single insurance claim do not constitute a “general business practice”

  • Locke Lord LLP
  • -
  • USA
  • -
  • August 7 2009

The United States District Court for the District of Connecticut recently granted in part an insurer’s motion to dismiss on the basis that the insured could not prove a violation of the Connecticut Unfair InsuranceTrade Practices Acts because allegations of multiple unfair practices in dealing with a single insurance claim are not sufficient to constitute a "general business practice

In private letter ruling, IRS says captive reinsurance of fronted pools is “insurance” for tax purposes

  • Locke Lord LLP
  • -
  • USA
  • -
  • January 4 2010

The Internal Revenue Service (IRS) issued a private letter ruling on December 11, 2009, resolving a taxpayer’s question as to whether its business as a captive reinsurer is "insurance" for tax purposes

District court finds that the Federal Arbitration Act preempts state statute barring out-of-state arbitrations

  • Locke Lord LLP
  • -
  • USA
  • -
  • September 14 2010

In Binder v. Medicine Shoppe International, Inc., No. 09-14046 (E.D.Mich. 2010), a breach of contract dispute between the plaintiff (a franchisor) and the defendant (a franchisee) arose out of a Uniform Franchise Offering Circular and subsequent License Agreement (“Agreement”

Massachusetts court says subrogation waiver can survive project completion

  • Locke Lord LLP
  • -
  • USA
  • -
  • September 7 2010

In a case of first impression, the Massachusetts Appeals Court has ruled that an insured's waiver of its carrier's subrogation rights can survive the completion of a construction project

Court finds coverage excluded for shooting by security guard

  • Locke Lord LLP
  • -
  • USA
  • -
  • September 1 2010

A California Appeals Court recently held that a wrongful death action against a security guard who shot a man while on duty was excluded under an "assault and battery" exclusion, even if the security guard acted in self-defense

Louisiana insureds petition the U.S. Supreme Court to review a Fifth Circuit decision vacating that portion of Katrina-related judgment that awarded penalties, damages and attorneys’ fees based on an insurer's alleged bad faith

  • Locke Lord LLP
  • -
  • USA
  • -
  • October 26 2009

On July 21, 2009, Judy and Michael Kodrin filed a petition for a writ of certiorari in the U.S. Supreme Court, asking the Supreme Court to review a Fifth Circuit decision vacating that portion of a Katrina-related judgment that awarded them penalties, damages and attorneys’ fees based on their homeowners insurer’s alleged bad faith

Southern District grants motion to dismiss in F-Cubed securities class action

  • Locke Lord LLP
  • -
  • USA
  • -
  • November 9 2009

On October 5, 2009, the U.S. District Court for the Southern District of New York granted the defendants' motion to dismiss in Cornwell v. Credit Suisse on subject matter jurisdiction grounds

Divided Kentucky Court of Appeals relaxes claims made and reported requirements when consecutive policies are issued by the same insurer

  • Locke Lord LLP
  • -
  • USA
  • -
  • October 28 2010

A divided Court of Appeals of Kentucky recently held that an insured was continually covered under two back-to-back "claims-made" insurance policies issued by the same insurer even though a claim was made against the insured during one policy period, and not reported to the insurer until fourteen months later, during the second policy period

ERISA litigation: an update from the ALI-ABA conference on financial and insurance litigation

  • Locke Lord LLP
  • -
  • USA
  • -
  • July 21 2010

ERISA litigation, once considered a dull backwater of the law, has been gaining increased interest and attention in recent years: the result of an aging population and an increasingly sophisticated and aggressive plaintiffs' bar