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Results: 1-10 of 160

New York adopts revisions to Regulation 118 governing audited financial statements

  • Locke Lord LLP
  • -
  • USA
  • -
  • January 12 2010

On December 28, 2009, the New York Insurance Department ("NYID") issued a Notice of Emergency adoption revising Regulation 118 to implement new audit and reporting standards on an emergency basis

NY court: insured may recover consequential damages absent insurer bad faith

  • Locke Lord LLP
  • -
  • USA
  • -
  • December 23 2009

On December 15, 2009, New York's Appellate Division for the First Department held that an insured need not allege or prove that its insurer acted in bad faith in order to recover consequential damages stemming from the insurer's breach of the policy

New Jersey trial court cannot apportion defense costs based on claimed damages, but must apportion based on the reasonable value of the legal services rendered in defending the respective claims

  • Locke Lord LLP
  • -
  • USA
  • -
  • February 17 2010

The New Jersey Appellate Division in William H. Hall Co. v. Harleysville Ins. Co. of NJ (October 13, 2009) reversed and remanded a trial court’s decision in a declaratory judgment action following summary judgment motions made by the parties

Massachusetts court reaffirms general liability insurers’ broad duty to defend

  • Locke Lord LLP
  • -
  • USA
  • -
  • June 22 2010

The Massachusetts Appeals Court recently reaffirmed that jurisdiction's broad understanding of a general liability carrier's duty to defend, holding that an insurer had a duty to defend against a claim of trespass first asserted after the expiration of its policy period

Connecticut Attorney General wins in landmark contingent commissions case

  • Locke Lord LLP
  • -
  • USA
  • -
  • May 10 2010

In a first-of-its-kind victory for a state attorney general, the office of Connecticut Attorney General Richard Blumenthal won its case against an insurance brokerage whom the court found to have failed to disclose to consumers the contingent commissions it received from certain insurers

Massachusetts Supreme Judicial Court defines contours of statute regulating indemnification (but not insurance provisions) in lease agreements

  • Locke Lord LLP
  • -
  • USA
  • -
  • May 18 2010

The Massachusetts Supreme Judicial Court recently held that G.L. c. 186 15, which makes void any indemnification agreement or provision whereby a tenant is obligated to indemnify a landlord, in whole or in part, for the landlord’s own negligence, does not apply to insurance provisions in the lease agreement

Unscrambling the Gramm-Leach-Bliley omelet

  • Locke Lord LLP
  • -
  • USA
  • -
  • December 23 2009

Sen. John McCain, R-Arizona, and Sen. Maria Cantwell, D-Washington, proposed on December 16, 2009 rebuilding the barriers separating commercial banks, investment banks and insurers established under the Depression Era Glass-Steagall Act

Court examines duty to defend funeral homes accused of participation in organ harvesting

  • Locke Lord LLP
  • -
  • USA
  • -
  • December 23 2009

A federal judge in Pennsylvania recently examined whether an insurer must defend a crematorium and funeral home against several lawsuits alleging that they participated in an organ harvesting scheme

Partial repeal of McCarran-Ferguson Act dropped from Senate Health Reform Bill

  • Locke Lord LLP
  • -
  • USA
  • -
  • December 21 2009

Media reports indicate that Senator Patrick Leahy’s (D-VT) amendment to repeal the antitrust exemption under the McCarran-Ferguson Act for health insurers and medical malpractice insurers, has been removed from the latest version of the Patient Protection and Affordable Care Act (H.R. 3590

Repeal of antitrust exemption gains traction as House and Senate Democrats reconcile healthcare reform bills

  • Locke Lord LLP
  • -
  • USA
  • -
  • January 8 2010

U.S. House Representatives Peter DeFazio, (D-OR) and Gene Taylor (D-MS) drafted a letter to House Speaker Nancy Pelosi (D-CA) in support of repealing the antitrust exemption under the McCarran Ferguson Act for health insurers and medical liability insurers