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Results: 1-10 of 125

California appeals court holds that insurer can rely on voluntary-parting exclusion to deny coverage to jewelry owner who mistakenly gave away $1.5 million in jewels
  • Locke Lord LLP
  • USA
  • April 28 2010

A California appeals court has ruled that an insurance company did not act in bad faith when it refused to reimburse a jewelry wholesaler for more than $1.5 million in property that the wholesaler claimed was mistakenly handed over to an individual who was merely posing as an armored-car agent


Federal judge rules that professional liability insurer must defend insurance broker against Ponzi scheme lawsuits
  • Locke Lord LLP
  • USA
  • April 28 2010

The U.S. District Court for the Southern District of Texas recently ruled that a professional liability insurer must defend its insured, an insurance brokerage and consulting firm, against claims by victims of the alleged Stanford Financial (“Stanford”) Ponzi scheme


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


First Circuit: no coverage under claims made and reported policy if insured fails to report claim within policy period
  • Locke Lord LLP
  • USA
  • July 29 2009

The First Circuit recently held that an insured was not entitled to coverage under a Professional Liability claims made and reported policy where the claim is not both made against the insured and reported to the insurer within the policy period


D.C. Circuit remands Rule 151A to the SEC
  • Locke Lord LLP
  • USA
  • July 29 2009

This updates our January 28, 2009 posting


Sixth Circuit: insurer that defended insured in state court action need not defend insured in subsequent related arbitration; wording of arbitration claim precludes coverage
  • Locke Lord LLP
  • USA
  • July 29 2009

Earlier this month, the Sixth Circuit affirmed a district court decision granting summary judgment to a professional liability insurer where it provided a defense in a state court action but denied coverage in a subsequent related arbitration


Massachusetts highest state court: pro-rata “time-on-the-risk” allocation method applies to ongoing environmental pollution occurring over multiple policy periods
  • Locke Lord LLP
  • USA
  • August 4 2009

The Massachusetts Supreme Judicial Court recently held that where an insured "incurs covered costs as a result of ongoing environmental contamination occurring over more than one year and the insurer provided coverage for less than the full period of years in which contamination occurred," the loss should be pro rated among all the insurers on the risk during the relevant period


First Circuit: no coverage for false arrest suit where arrest and conviction occurred prior to the policy period
  • Locke Lord LLP
  • USA
  • August 4 2009

The First Circuit recently upheld a trial court’s ruling that an insurer need not defend or indemnify the defendants in a wrongful conviction claim where the wrongful acts occurred prior to the policy period


New York federal court vacates prior order finding that arbitration must start anew
  • Locke Lord LLP
  • USA
  • July 30 2009

In early January, www.insurereinsure.com reported on In the matter of the Petition of Ins. Co. of North America, et al. against Public Service Mut. Ins. Co., No. 08-cv-7003 (S.D.N.Y.), in which the U.S. District Court for the Southern District of New York held that an arbitration must start anew because a member of the arbitration panel resigned for health reasons prior to the rendering of an award