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Results: 1-10 of 286

Circular letter regarding contract certainty issued for comment by the New York Insurance Department
  • Locke Lord LLP
  • USA
  • January 14 2010

The New York Insurance Department (the “Department”) recently issued a draft Supplement No. 1 to Circular Letter No. 20 (2008) (“CL No. 20”) regarding insurance contract certainty for propertycasualty insurance policies and reinsurance contracts


NY lower court holds that Insurance Law 3420(a) applies to lawyer’s claims-made malpractice policy
  • Locke Lord LLP
  • USA
  • November 19 2009

The New York Supreme Court, Erie County, recently held that a lawyers’ professional liability policy constitutes a "policy or contract insuring against liability for injury to person" within the meaning of Insurance Law 3420(a)(3)-(4


Oklahoma federal court holds claim for misrepresentations in home sale not covered by homeowners’ liability policy
  • Locke Lord LLP
  • USA
  • January 6 2010

The United States District Court for Oklahoma recently ruled that homeowners’ liability policies (primary and excess) did not cover a homebuyer’s lawsuit against the insured sellers for misrepresenting the condition of the home’s fireplaces


Missouri Appellate Court affirms no duty to defend based on allegations of complaint even if allegations groundless
  • Locke Lord LLP
  • USA
  • November 2 2009

In Custom Hardware Engineering & Consulting, Inc. v. Assurance Company of America, No. ED 91441 (Mo.App.E.D. Aug. 11, 2009), a Missouri Appellate Court declined to consider any findings made by the court in an underlying matter in its analysis of whether a policy exclusion applied and precluded coverage


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


Pennsylvania federal court dismisses bad faith claim as subsumed by breach of contract claim, but allows statutory bad faith claim
  • Locke Lord LLP
  • USA
  • June 17 2010

Recently, a Pennsylvania federal court dismissed a bad faith claim against an insurer on the grounds that the claim was subsumed by the plaintiff's breach of contract claim in the same proceeding


Moody’s estimates that BP spill could cost insurers $3.5 billion
  • Locke Lord LLP
  • USA
  • June 16 2010

The still-growing Deepwater Horizon oil spill in the Gulf of Mexico could combine with a hurricane to cause devastation along the Gulf Coast and trigger trouble for insurers, Moody's warned


Sixth Circuit finds court order requiring insurer to produce privileged documents not clearly erroneous
  • Locke Lord LLP
  • USA
  • October 23 2009

The Sixth Circuit recently denied an insurer’s petition for a writ of mandamus to vacate a discovery order compelling the production of information which the insurer argued was protected from discovery by the work-product andor attorney-client privileges


Proposed Financial Crisis Responsibility Fee could affect large insurers
  • Locke Lord LLP
  • USA
  • February 3 2010

President Obama's proposed Financial Crisis Responsibility Fee, which he unveiled last month, has been included in the 2011 budget proposal released on Monday, February 1, 2010


Presentation by Eithne McCarthy - the new Insurance Block Exemption Regulation
  • Locke Lord LLP
  • USA
  • April 22 2010

Eithne McCarthy, from the Financial Services Unit of the European Commission's Competition Directorate General (DG Comp), made a presentation on the new Insurance Block Exemption Regulation (BER) to the Law Society's Competition Section on 13 April 2010