We use cookies to customise content for your subscription and for analytics.
If you continue to browse Lexology, we will assume that you are happy to receive all our cookies. For further information please read our Cookie Policy.

Search results

Order by: most recent most popular relevance



Results: 11-20 of 2,169

Purchase of warranty reimbursement policies from an affiliated captive does not create an insurance risk for federal tax purposes
  • Locke Lord LLP
  • USA
  • September 4 2008

In a Technical Advice Memorandum (“TAM”) released by the IRS in July, the IRS determined that a large retailer’s purchase of warranty reimbursement policies from a related captive insurance subsidiary that reimburse the retailer for expenses incurred under its manufacturer’s warranty obligations did not constitute an insurable risk for federal tax purposes


California enacts STOLI legislation
  • Locke Lord LLP
  • USA
  • October 19 2009

On October 11, 2009, California Governor Arnold Schwarzenegger signed S.B. 98 (the “Act”), which targets stranger originated life insurance (“STOLI”) transactions


New York court rules that intentional acts exclusion does not bar coverage under homeowner's policy for insured's liability arising from “bear hug”
  • Locke Lord LLP
  • USA
  • February 4 2009

In Clayburn v. Nationwide Mut. Fire Ins. Co., 10 A.D.3d 778 (N.Y. App. Div. 3d Dept Jan. 15, 2009), a New York appellate court affirmed summary judgment in favor of the insured finding that the intentional acts exclusions in its homeowner’s policy did not bar coverage for personal injuries resulting from the insured’s bear hug of another person


NAIC Preliminary Draft Insurance Data Security Model Law Draws Praise and Criticism
  • Locke Lord LLP
  • USA
  • March 29 2016

Early this month, the NAIC Cybersecurity (EX) Task Force released a preliminary working and discussion draft of an Insurance Data Security Model Law


Seventh Circuit decision explains jurisdictional limits for federal court litigation of class action insurance coverage issues
  • Locke Lord LLP
  • USA
  • August 7 2012

If an insurance company denies coverage for state court class action litigation and wants the right to litigate the coverage issues in federal court rather than state court, the insurance company should consider filing a declaratory judgment action in federal court before approval of a class settlement or risk losing the right to litigate the issues in federal court


Second Circuit: distinguishing between policy definitions subject to NY Insurance Law 3420(d)(2)’s timely disclaimer requirement as an exclusion and those that are not
  • Locke Lord LLP
  • USA
  • June 16 2010

In a decision issued on February 1, 2010, the United Stated Court of Appeals for the Second Circuit confirmed that under New York law some policy provisions, although placed outside of the policy's "Exclusions" section, may nonetheless be considered an exclusion and, therefore, subject to the timely disclaimer and denial requirement of NY Insurance Law 3420(d)(2


Life settlements: model competition between NCOIL and NAIC
  • Locke Lord LLP
  • USA
  • June 16 2008

With an estimated $6.1 billion face value of policies settled in 2006 compared to $2 billion in 2002, the life settlement market continues to demonstrate sustained growth


Revised NAIC insurance holding company model act gains traction
  • Locke Lord LLP
  • USA
  • June 6 2012

As part of its solvency modernization initiative, the National Association of Insurance Commissioners (NAIC) adopted broad revisions to its model Insurance Holding Company System Regulatory Act and its Insurance Holding Company System Model Regulation (collectively, the Revised Model Law) in December of 2010


Potential class action against State Farm and its claims adjusting software company
  • Locke Lord LLP
  • USA
  • October 12 2007

Judge Stanwood R. Duval, Jr. of the United States district court of Lousisa federal district court sitting in Louisiana recently held that two homeowners could jointly file an amended complaint and proceed with their proposed class action lawsuit against State Farm Fire and Casualty Company and software company Xactware


Texas Supreme Court: pro rata "other insurance" clauses preclude equal contribution among co-primary insurers
  • Locke Lord LLP
  • USA
  • December 4 2007

On a question certified by the Fifth Circuit Court of Appeals, the Texas Supreme Court recently ruled that "there is no direct duty of reimbursement between co-primary insurers."