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Article

Locke Lord LLP | USA | 30 Jul 2009

OGC opinion: third party may not bring direct action against insurer in foreign jurisdiction pursuant to new Insurance Law 3420

The New York Insurance Department’s (“NYID”) Office of General Counsel (“OGC”) recently issued an OGC Opinion (No. 09-06-08) representing the position of the NYID in respect of four distinct queries regarding the recent amendment to Insurance Law 3420, which we have closely followed and written about in this blog.

Article

Locke Lord LLP | USA | 30 Jul 2009

OGC opinion: Insurance Law 3420 also applies to policies issued in NY but delivered out of state

The New York Insurance Department’s (“NYID”) Office of General Counsel (“OGC”) recently issued an OGC Opinion (No. 09-06-08) representing the position of the NYID in respect of four distinct queries regarding the recent amendment to Insurance Law 3420, which we have closely followed and written about in this blog.

Article

Locke Lord LLP | USA | 30 Jul 2009

OGC opinion: new prejudice rule set forth in Insurance Law 3420 may also be incorporated in non-liability policies at insurer's option

The New York Insurance Department’s (“NYID”) Office of General Counsel (“OGC”) recently issued an OGC Opinion (No. 09-06-08) representing the position of the NYID in respect of four distinct queries regarding the recent amendment to Insurance Law 3420, which we have closely followed and written about in this blog.

Article

Locke Lord LLP | USA | 30 Jul 2009

OGC opinion: Insurance Law 3420 also applies to claims-made policies

The New York Insurance Department’s (“NYID”) Office of General Counsel (“OGC”) recently issued an OGC Opinion (No. 09-06-08) representing the position of the NYID in respect of four distinct queries regarding the recent amendment to Insurance Law 3420, which we have closely followed and written about in this blog.

Article

Locke Lord LLP | USA | 29 Jul 2009

First Circuit: no coverage under claims made and reported policy if insured fails to report claim within policy period

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.

Article

Locke Lord LLP | USA | 22 Jul 2009

NY appellate court: insurer’s disclaimer timely and proper despite lack of prejudice resulting from insured’s late notice of claim

On July 10, 2009, the appellate division reversed the motion court’s ruling in Sevenson Envtl. Serrvices, Inc. v. Sirius Am. Ins. Co., Case No. 0226008 (4th Dept.), and held that (1) the insured’s 15-month delay in providing notice of the claim was unreasonable as a matter of law; (2) the insurer need not prove that it was prejudiced by the insured’s untimely notice to disclaim coverage; and (3) the insurer’s disclaimer of coverage on late notice grounds 24 days after receiving notice of the claim was timely as a matter of law.

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