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During hearing to consider Ambac’s rehabilitation plan, insurance regulator reveals that liquidation of the bond insurer was considered

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • November 23 2010

As we first covered here, Ambac Financial Group Inc., the parent of the ailing Wisconsin-domiciled bond insurer Ambac Assurance Corp., filed for Chapter 11 bankruptcy relief with United States Bankruptcy Court for the Southern District of New York on November 8, 2010

Massachusetts Appeals Court affirms dismissal of action against business owner policy by mortgagee

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • September 8 2010

The Massachusetts Appeals Court recently affirmed the Superior Court's granting of an insurer's motion to dismiss after finding that the standard mortgage clause in a business owner's policy did not confer coverage on a mortgagee for loss of rent where the mortgagor had executed an assignment of rent in the event of default

Court holds coverage for Madoff suits excluded under policy’s insolvency exclusion

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • June 8 2010

The US District Court for the District of Connecticut recently dismissed a customer suit against an insurer, based upon its determination that all of the underlying claims were excluded by the policy's Insolvency Exclusion