Property

  • May 02, 2024

    Coral Bleaching Highlights Value Of Reef Insurance

    An ongoing bleaching event expected to weaken coral reefs worldwide should emphasize the importance of novel insurance products in helping to restore critical marine life following major storms, climate and insurance experts say.

  • May 02, 2024

    Insurance Litigation Week In Review

    A treasure hunter got no coverage for his thwarted quest, LexisNexis was sued again for spying on drivers, a fatal drag race had its win reversed, a Chicago general contractor split the Seventh Circuit, and the Fifth Circuit wondered if a healthcare company's mistake was a claim. Here, Law360 takes a look at this week's top insurance news.

  • May 02, 2024

    Atty In $119M Bad Faith Win Seeks Justice In And Out Of Court

    Policyholder attorney Benjamin W. Massarsky of Miller Friel is part of a team that won over $119 million from insurers in a case thought to have garnered among the largest bad faith wins in the past 30 years. He also works pro bono to fight for accommodations for students with disabilities. Here, he shares where his passions for justice converge.

  • May 02, 2024

    2nd Circ. To Weigh Court's Role In Bermuda Arbitration Row

    The Second Circuit will review Wednesday whether a New York federal court has the authority to remove an allegedly biased arbitrator in a Bermuda reinsurance arbitration, addressing the question of the federal court's limited role in international arbitration. Here, Law360 breaks down the case in advance of oral arguments.

  • May 02, 2024

    5th Circ. Asks If Facts Matter In Construction Defect Row

    A Fifth Circuit panel weighed the importance of facts versus the law in a dispute over whether an insurer must indemnify a construction company for a $1.3 million arbitration award for construction defects in a Texas farming cooperative's grain silos.

  • May 02, 2024

    Insurance Industry Still Navigating Risks Created By Dobbs

    The U.S. Supreme Court's overturning of Roe v. Wade has prompted new insurance policy offerings for healthcare providers and legislation to protect medical malpractice coverage in some states, with additional risks beyond the initial threat of litigation on the horizon, experts say.

  • May 02, 2024

    Hiscox, Lancashire Predict Loss From Baltimore Bridge

    British-listed insurers Hiscox and Lancashire Holdings confirmed Thursday they will likely face a financial hit from the collapse of the Francis Scott Key Bridge in Baltimore.

  • May 02, 2024

    Sills Cummis Adds Pillsbury Atty As Insurance Group Leader

    Sills Cummis & Gross PC has added an experienced insurance attorney from Pillsbury Winthrop Shaw Pittman LLP as a leader of two of its insurance groups.

  • May 01, 2024

    Eateries Note 'Fatal' Concession By Insurer In NC COVID Row

    Cincinnati Insurance Co. made a "fatal" concession when it argued that "physical loss" merely requires "some sort of dispossession," a group of 16 restaurants told the North Carolina Supreme Court, urging it to reinstate their COVID-19 coverage win that got reversed on appeal. 

  • May 01, 2024

    Zurich Gets Plane Parts Co.'s COVID Coverage Suit Tossed

    An Illinois federal court has tossed an aviation parts supplier's bid to recover up to $30 million in coverage from a Zurich unit for expired items it couldn't access during a period of the COVID-19 pandemic, finding the company failed to sufficiently allege direct physical loss.

  • April 30, 2024

    Wash. Panel Reverses Hartford Unit Fire Coverage Ruling

    A Washington state appeals court reversed a trial court's ruling that a Hartford unit's policy included coverage for an electrical panel that caused a restaurant fire, instead finding that whether the electrical panel was in the care of the restaurant or its landlord remains disputed.

  • April 29, 2024

    Aviation Co. Fights Delay Of Russian Planes Coverage Suit

    A Florida-based aircraft leasing company has pushed back on its insurers' request to pause its coverage suit for $700 million worth of airplanes reappropriated by Russian airlines after the Ukraine war began, saying the insurers' own litigation against reinsurers should have no bearing on its coverage claims.

  • April 26, 2024

    The Week In Trump: Tabloid Testimony, High Court Drama

    Donald Trump and his attorneys have been fighting high-stakes legal battles on several fronts as they grappled with a criminal hush money trial in Manhattan, argued at the U.S. Supreme Court for presidential immunity and tried to quash criminal election interference-related charges in Georgia.

  • April 26, 2024

    Insurer Can't Avoid Coverage Suit Against Escrow Agent

    First American Title Insurance Co. must continue to be a party in Wesco Insurance Co.'s declaratory action seeking to avoid covering claims that Wesco's insureds improperly diverted escrow funds in real estate transactions to third parties with no valid claims to the funds, a Florida federal court ruled.

  • April 25, 2024

    Insurance Litigation Week In Review

    A New York state panel partially revived Chubb's coverage dispute with an archdiocese over underlying sexual abuse claims, Ralph Lauren got the green light to pursue its appeal for coverage of damages stemming from the COVID-19 pandemic and former President Donald Trump solidified a $175 million bond.

  • April 25, 2024

    Driving Data Suits Highlight Auto Privacy, Insurance Risks

    A spate of suits charging General Motors with harvesting driver data without permission and sharing it with data broker LexisNexis Risk Solutions highlights policyholder privacy risks and erosion of trust over extensive auto data collection, experts told Law360.

  • April 25, 2024

    5th Circ. May Ponder If Threats Are Claims In Healthcare Suit

    The Fifth Circuit will review Monday if a healthcare company is covered for a more than $200,000 settlement over mistakenly approving out-of-state treatment for a Florida Medicaid patient, with the case potentially hinging on whether a letter threatening litigation against another party constitutes a claim. Here, Law360 breaks down the case in advance of oral arguments.

  • April 25, 2024

    Fla. High Court Says PIP Law Doesn't Mandate 100% Payment

    The Florida Supreme Court ruled Thursday that Allstate Insurance Co. is not required to pay 100% of a chiropractic provider's charges under a personal injury protection policy, saying to enact such a requirement would misread both Florida's PIP law and Allstate's policy.

  • April 25, 2024

    New PFAS Rules Portend More Insurance, Superfund Suits

    New rules from the Environmental Protection Agency designating as hazardous so-called forever chemicals, and limiting those toxic chemicals in water supplies, are likely to contribute to a wave of insurance litigation over liabilities, while potentially posing new coverage implications for companies involved in Superfund sites.

  • April 25, 2024

    Emotional Damages Not Covered In OD Suit, Pa. Justices Rule

    The Pennsylvania Supreme Court has reversed a lower court's ruling that a Nationwide unit had a duty to defend two homeowners in a suit over a man's fatal overdose under their roof, holding Thursday that underlying emotional distress damages don't fall within the policy's definition of bodily injury.

  • April 25, 2024

    Insurance Backs Up College Athletes About To Turn Pro

    As the NFL draft begins, experts tell Law360 how changing circumstances make it ever more important for athletes transitioning from the college to professional level to secure insurance coverage, should an injury derail a pro career.

  • April 24, 2024

    Condo Group Says Insurer Is Blowing Off Wind, Hail Damage

    Greater New York Mutual Insurance Co. has moved to federal court an Ohio non-profit condominium community's state court lawsuit accusing it of lowballing the group's wind and hail damage costs and then refusing to engage in their agreed-upon appraisal process.

  • April 24, 2024

    Samsung Unit Says Exclusion Doesn't Apply To Storm Losses

    A Samsung unit seeking coverage for more than $400 million in damage to its semiconductor manufacturing facility related to Winter Storm Uri in 2021 asked a Texas federal court to rule that power loss during the storm did not trigger the policy's so-called lack of services exclusion.

  • April 23, 2024

    HUD Finalizes Rule Raising Building Standards In Flood Zones

    The U.S. Department of Housing and Urban Development published a rule on Tuesday setting stricter flood-protection standards for homes built or fixed with funds from the agency in an effort to manage storm risk and rising insurance costs.

  • April 22, 2024

    Ralph Lauren Can Continue Appeal Of COVID Coverage Loss

    The Third Circuit on Monday lifted a stay that sidelined a Ralph Lauren Corp. appeal of a district judge's ruling that the fashion retailer failed to show insurable physical damage to stores from the COVID-19 pandemic, sending the case to an appellate motions panel with three similar actions.

Expert Analysis

  • How VA Court Change Is Affecting Insurance Disputes

    Author Photo

    The expansion of the Virginia Court of Appeals' jurisdiction to include review of decisions involving insurance coverage stands to significantly grow the body of related case law, likely to the benefit of policyholders, as evident in the recent decision in Bowman II v. State Farm Fire and Casualty Co., say Michael Levine and Olivia Bushman at Hunton.

  • Ore. Insurance Ruling Opens Door To Extracontractual Claims

    Author Photo

    The Oregon Supreme Court's recent Moody v. Oregon Community Credit Union decision expanding an insurer's potential liability when adjusting life insurance policies exposes insurers to extracontractual tort liability, and the boundaries of this application will likely be tested through aggressive legal action, says Tessan Wess at GRSM50.

  • A Key Tool For Calif. Policyholders With Nonadmitted Insurers

    Author Photo

    As insurers increasingly flee California and residents of the Golden State are forced to insure their properties with nonadmitted insurers, it is crucial to understand the Unauthorized Insurers Process Act, a critical but underutilized tool for policyholders, say Keith Meyer and Kya Coletta at Reed Smith.

  • How Merck Settlement Can Inform Cyberinsurance Approach

    Author Photo

    This month's settlement in Merck v. ACE spotlights how cyber exclusions have evolved since the significant decision in the case — allowing for insurance coverage despite the presence of a policy war exclusion — and where else corporate risk managers may look for coverage in case of a cyberattack, say attorneys at McGuireWoods.

  • What's In NY's Draft Guidance On AI Use In Insurance

    Author Photo

    Last week, the New York State Department of Financial Services released proposed guidance for insurers on the use of artificial intelligence systems and external consumer data and information sources for underwriting and pricing purposes, and these standards will likely help form the basis of an eventual nationwide insurance regulatory framework on AI, say attorneys at Sullivan & Cromwell.

  • Insured Takeaways From 10th Circ. Interrelated Claims Ruling

    Author Photo

    The Tenth Circuit's recent ruling in American Southwest Mortgage v. Continental Casualty that multiple claims arising from consecutive audit years were interrelated — and thus subject to a per claim limit — creates a concerning precedent for policyholders, so companies should negotiate relevant policy language, says Michael Stockalper at Saxe Doernberger.

  • 3 Significant Ohio Insurance Updates From 2023

    Author Photo

    The past year saw some significant changes and developments in Ohio's insurance coverage landscape, from new bad faith discovery mechanisms relating to out-of-state property to the Ohio Supreme Court's interpretation of what constitutes an assault or battery for coverage purposes, say Jenna Pletcher and William Peseski at Brouse McDowell. 

  • Policyholders Must Object To Insurer Reorganizations

    Author Photo

    When insurance companies reorganize, policies often take years to ultimately pay out a fraction of what is owed, so policyholders should organize and urge insurance commissioners to take action when retroactive reinsurance deals are announced, says Jonathan Terrell at KCIC.

  • SEC, NY Cybersecurity Rules Create Complexity For Insurers

    Author Photo

    Two separate cybersecurity rules recently adopted by the New York Department of Financial Services and the U.S. Securities and Exchange Commission pose distinct challenges for insurance industry participants, with important interactions, and potential tensions, for those required to comply with both frameworks, say attorneys at Debevoise.

  • 5 Trends To Watch In Property And Casualty Class Actions

    Author Photo

    In 2023, class action decisions have altered the landscape for five major types of claims affecting property and casualty insurers — total loss vehicle valuation, labor depreciation, other structural loss estimating theories, total loss vehicle tax and regulatory fees, and New Mexico's uninsured and underinsured motorist coverage sale requirements, say Mark Johnson and Mathew Drocton at BakerHostetler.

  • Insurance Considerations For Cos. Assessing New AI Risks

    Author Photo

    Because no two businesses will have the same artificial intelligence risk profile, they should consider four broad risk categories as a baseline for taking a proactive approach to guarding against AI-related exposures, say attorneys at Hunton.

  • AI Brings New Insurance Concerns For Healthcare Providers

    Author Photo

    As the healthcare industry increasingly invests in medical artificial intelligence tools, it confronts a variety of liability risks that necessitate careful consideration and potential recalibration of providers' insurance programs, say Marialuisa Gallozzi and Megan Mumford Myers at Covington.

  • Superfund Site Reopenings Carry Insured Risk, Opportunity

    Author Photo

    The U.S. Environmental Protection Agency's reported plans to reopen certain Superfund sites citing the presence of per- and poly-fluoroalkyl substances raise notable liability concerns, but may also present unique opportunities for policyholders under the Comprehensive Environmental Response, Compensation, and Liability Act, say attorneys at Haynes and Boone.

Can't find the article you're looking for? Click here to search the Insurance Authority Property archive.