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Results: 1-10 of 149

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


Insurers win at Court of First Instance in Severe Acute Respiratory Syndrome claim dispute
  • Locke Lord LLP
  • Hong Kong
  • May 12 2010

In World Harbourview Hotel Co. Ltd & Others v ACE Insurance & Others 2010 HKCFI 327, the High Court of the Hong Kong Special Administrative Region Court of First Instance considered a claim filed under insurance policies in respect of business interruption suffered as a result of the outbreak of Severe Acute Respiratory Syndrome (SARS) in 2003


ATE insurance
  • Locke Lord LLP
  • United Kingdom
  • May 7 2010

In Parker v Seixo 2010 EWHC 90162 (costs), which concerned the legal costs of a road traffic accident claim, the Court found that it should not consider the reasonableness of an After-The-Event insurance policy premium where the underwriter was better placed to rate the financial risk faced by the insurer and where there was no expert evidence to suggest that the ATE premium was unreasonable


Commercial Court considers follow the settlements clause, allocation and recoverability IBNR
  • Locke Lord LLP
  • United Kingdom
  • May 14 2010

IRB Brasil Ressegurous SA v CX Reinsurance Company Ltd 2010 EWHC 974 (Comm) concerned an appeal brought by IRB in relation to an arbitration award made in favour of CX Re and against IRB


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


U.S. Supreme Court rules on class arbitration, addresses manifest disregard of the law
  • Locke Lord LLP
  • USA
  • May 12 2010

Petitioners ("Stolt-Nielsen") entered into a contract with respondent AnimalFeeds International Corporation that contained an arbitration clause


SDFL judge finds for Wachovia in unique auction rate securities suit
  • Locke Lord LLP
  • USA
  • May 18 2010

A federal judge in the United States District Court for the Southern District of Florida recently issued findings of fact and conclusions of law following a bench trial in favor of Wachovia in a suit brought by investors who were unable to liquidate certain Auction Rate Securities ("ARS") originally purchased through Wachovia


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


International Public Company D&O: Status & Trends - Canada
  • Locke Lord LLP
  • Canada
  • April 14 2010

Class action securities claims are a perennially interesting topic for attorneys and companies around the world and across industries