Julius A. Rousseau, III
Arent Fox LLP
Articles
First application of Dawe – favorable insurable interest decision for premium financing
USA - July 2 2012 The federal court in Delaware recently issued the first decision applying the insurable interest standards articulated by the Delaware Supreme Court last year in the context of a life insurance policy purchased with borrowed funds.
Eric A. Biderman, Michael S. Cryan, Elliott M. Kroll, James M. Westerlind
Federal appellate court requires life insurer to return premiums
USA - March 27 2012 A common strategy in rescission cases where life insurance carriers are primarily litigating with market investors is for the carrier to seek to retain all premiums as an offset to damages it has allegedly sustained.
Eric A. Biderman, Michael S. Cryan, Krista M. Ellis, Elliott M. Kroll, James M. Westerlind
$5 million STOLI verdict in Florida: jury finds Life Insurance Co. does not meet “intent” standard
USA - March 5 2012 A huge victory this past Friday (March 2) against The Lincoln National Life Insurance Company in the first case to be tried in Florida under the new standard that two federal courts in the state have set for cases involving challenges to insurable interest by carriers.
SEC charges life settlement company and three executives with fraud
USA - January 5 2012 In a case filed Tuesday, January 3, 2012, the US Securities and Exchange Commission charges Nasdaq-listed Life Partners Holding Inc., which is based in Texas, and three of its senior executives for their involvement in an allegedly fraudulent disclosure and accounting scheme involving life settlements.
Two recent New York cases highlight issues to be aware of when structuring excess liability insurance programs
USA - August 15 2011 Two recent New York State cases involving high layer excess liability insurance programs, Union Carbide Corp. v. Affiliated FM Ins.Co., 16 NY3d 419 (2011) and JPMorgan Chase v. Indian Harbor Ins. Co., 31 Misc 3d 1240(A), 2011 NY Slip Op. 51055(U), 2011 WL 2320087 (NY Sup. Ct. May 26, 2011), highlight the importance of using care when structuring an excess program, particularly when drafting language with respect to limits of liability and exhaustion of limits.
