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Decision in WL Homes, LLC explores the powers of an agent of both a parent and its subsidiary
  • Fox Rothschild LLP
  • USA
  • June 7 2011

In an 21 page opinion published May 25, 2011, Judge Shannon ruled that, "the fact that an agent may represent more than one principal does not alter the well-established doctrine that an agent with authority is capable of binding its principal."

Old wines, new battles: lessons from the great fire of 1906
  • Pillsbury Winthrop Shaw Pittman LLP
  • USA
  • June 15 2011

December 2010 marked the centennial of the landmark California Supreme Court decision that resolved the critical insurance coverage dispute arising from the 1906 San Francisco earthquake and fire

Justice Bransten rules on MBS causation motions
  • Kelley Drye & Warren LLP
  • USA
  • January 13 2012

We previously posted about the October 5, 2011 hearing before Justice Eileen Bransten in the New York Supreme Court’s Commercial Division in MBIA Ins. Co. v. Countrywide Home Loans, Inc., et al. (Index No. 60282508), during which Justice Bransten heard arguments concerning the causation burden presented by monoline insurers’ fraud and breach of warranty claims against Countrywide relating to mortgage-backed securities transactions the plaintiffs insured

Federal court dismisses Hurricane Katrina global warming lawsuit
  • Shook Hardy & Bacon LLP
  • USA
  • March 30 2012

A federal court in Mississippi has dismissed with prejudice a lawsuit filed by property owners against several insurers and oil companies, alleging that defendants’ activities contributed to global warming that ultimately led to conditions which caused Hurricane Katrina and the resulting damage

Exclusions in real estate E&O policy foreclose duty to defend
  • Wiley Rein LLP
  • USA
  • April 9 2012

Applying Alabama law, a federal district court has rejected a real estate management company’s claim that its insurer owes it a duty to defend underlying claims under a real estate errors and omissions policy

South Carolina Supreme Court rules that calculation of “actual loss” under title insurance policy is based on property’s purchase price, not current property value
  • Simpson Thacher & Bartlett LLP
  • USA
  • October 12 2012

Previous Alerts have discussed the frequentlylitigated issue of whether a policyholder can access excess coverage when it has entered into a settlement with its primary insurer for an amount that is less than primary policy limits

Appraisal award in favor of policyholder may be basis for bad faith claim against insurer, says Florida court
  • Simpson Thacher & Bartlett LLP
  • USA
  • October 12 2012

A Florida appellate court held that an appraisal award issued in favor of a policyholder in connection with first-party property damage constitutes a “favorable resolution” sufficient to form the basis of a bad faith claim against an insurer

Title insurance cases (191012)
  • Carlton Fields Jorden Burt
  • USA
  • October 19 2012

Continuation of Coverage: policy continues to provide coverage to insured tenant who refuses to enter new lease after original insured lease is voided despite the fact that tenant no longer “retains an estate or interest in the land”

Minn. Supreme Court: anti-subrogation law does not bar landlord’s property insurer from recouping payments from negligent tenant
  • Sedgwick LLP
  • USA
  • September 25 2012

In United Fire & Casualty Co. v. Bruggeman, 505 N.W.2d 87 (Minn. App. 1993), rev. denied (Minn. Oct. 19, 1993), the Minnesota Court of Appeals held that a landlord’s property insurer may not subrogate against a tenant for damage caused by the tenant’s negligence unless the lease explicitly provided that right to the landlord