Specialty Lines

  • October 22, 2021

    Ex-NS8 Legal Chief Says He May Need $11M D&O Funds

    The former chief legal officer of cybersecurity company NS8 Inc., which went bankrupt after its CEO was charged with fraud, asked a Delaware bankruptcy court Thursday to access up to $11 million in company insurance policies to defend himself against claims he contributed to the company's collapse.

  • October 22, 2021

    Pa. Insurance Chief Talks Ida Recovery, Pandemic Lessons

    From navigating a once-in-a-lifetime pandemic, to the growing pressure to address climate change and diversity, to the recent devastation caused by Hurricane Ida, it's been "quite a year" for the Pennsylvania Insurance Department, Commissioner Jessica Altman says.

  • October 22, 2021

    Basic Cyber Measures Lower Claims, Insurer Report Finds

    Basic cybersecurity measures can significantly decrease the risks of cyberattacks that can give rise to errors and omissions on insurance claims, according to a new report detailing litigation trends from the cyber-focused insurer Corvus.

  • October 22, 2021

    Travelers Off The Hook For Stockholder Claims In $22M Deal

    Travelers is only on the hook for the director and officer claims against its policyholder in a $22 million investor class action settlement, a Delaware federal judge said, holding that the underlying stockholder claims are not covered by the policy.

  • October 22, 2021

    Insurer, Pa. Church End $1.2M Employee Theft Coverage Row

    A Pittsburgh church, its child education program and their insurer agreed Friday to end litigation over whether the insurer must provide more coverage related to a former church employee's $1.2 million embezzlement.

  • October 22, 2021

    Live Events Face Tougher Cancellation Insurance Market

    The music and live theater industries have started touring again after facing forced closures at the start of the COVID-19 pandemic, but these industries are entering a changed event cancellation insurance marketplace in which premiums have increased and communicable disease coverage is almost nonexistent.

  • October 21, 2021

    Del. Judge Tosses Stockholders' $41M Insurance Suit

    A Delaware Chancery Court judge said he cannot rule on a $41 million coverage dispute between Great American Insurance Co. and former stockholders of a Chinese meat processing company, saying the state's Superior Court is better suited to decide on insurance matters.

  • October 21, 2021

    Unqualified Pilot's Plane Damage Not Covered, Judge Says

    A Florida federal judge said Thursday that insurers correctly denied coverage to a pilot and owner of an aviation company for costs stemming from an emergency landing, due to the pilot's lack of proper qualifications for the plane he was flying at the time.

  • October 21, 2021

    Steel Co.'s Atty Covered In Malpractice Row, 8th Circ. Told

    A steel fabricator told the Eighth Circuit on Thursday that a lower court erred in finding an attorney who worked for it was not covered by his insurer in a legal malpractice suit, saying there was a factual question of whether the attorney knew the suit would be brought against him.

  • October 21, 2021

    Morgan Lewis Adds Former Greenberg Traurig Partner

    Morgan Lewis & Bockius LLP has added a former Greenberg Traurig LLP partner to its insurance recovery practice, bringing into its fold a longtime representative of multinational corporations working in the environmental and energy industries.

  • October 21, 2021

    CAA Says Affiliated FM Should Cover Its Pandemic Losses

    Famed Hollywood talent agency CAA has sued Affiliated FM Insurance Co. seeking coverage of its COVID-19 business-interruption losses, in a complaint removed Wednesday to California federal court.

  • October 20, 2021

    Chubb Can't Sidestep Settlement For Canceled Trade Show

    A Chubb unit can't avoid coverage for a health consulting company's underlying settlement over a pandemic trade show cancellation, an Illinois federal court ruled, saying neither the policy's professional services nor its contract exclusions bar coverage.

  • October 20, 2021

    Banks Ask 9th Circ. For Coverage In Foreclosure Fights

    Wells Fargo and HSBC asked the Ninth Circuit during oral argument Wednesday to find that their title insurer must cover the costs of defending their interests in properties sold in homeowner association foreclosure sales, saying a Nevada district court incorrectly held no coverage was available.

  • October 20, 2021

    SC Insurance Chief On Cyber, Climate Threats And Fraud

    South Carolina Insurance Director Ray Farmer has spent his nine years in office honing a focus on how the Palmetto State deals with insurance fraud and working to better prepare residents for the inevitable catastrophes Mother Nature brings to the Atlantic Coast.

  • October 20, 2021

    Axis Capital Commits To Phasing Out Coal Business

    Ahead of the United Nations Climate Change Conference, Axis Capital Holdings Ltd. announced Wednesday that it would be phasing out insurance for and investments in the thermal coal business.

  • October 20, 2021

    Cyber Events Could Pass $10.5 Trillion In 2025, Report Says

    The cost of cyber events across the globe could surpass $10.5 trillion in the next four years, with the number of records compromised in cybercrime being a top indicator of potential losses, a report released by a cyber risk analysis firm revealed.

  • October 19, 2021

    Hartford Unit Must Defend Janitorial Co. In BIPA Lawsuits

    An Illinois federal judge ruled Tuesday that a Hartford unit must defend a janitorial company in two suits alleging it violated the state's biometric privacy law, saying the company's actions may trigger coverage under the employment practices liability section of the company's policy.

  • October 19, 2021

    Insurer Asks To Combine Billabong Ransomware Suits

    An insurer of Billabong's parent company on Tuesday asked to consolidate two cases stemming from a 2019 cyberattack, with one suit brought by the company seeking more payments from the insurer and one brought by the insurer claiming two AIG units must share coverage.

  • October 19, 2021

    Commercial Insurance Market To Grow By $1T, Report Says

    The global commercial insurance market is expected to grow by almost $1 trillion in the next 10 years, the research firm Allied Market Research said in a report released Tuesday, with the market for liability insurance policies expected to grow the most.

  • October 19, 2021

    Clinic Tells 11th Circ. AIG Must Cover $9M Abuse Settlement

    A mental health clinic asked the Eleventh Circuit to force an AIG insurance unit to cover its $9 million settlement after three patients suffered physical abuse and one died, saying the Alabama district court wrongly held that AIG is off the hook for the settlement.

  • October 19, 2021

    3M Unit Can't Sink Excess Insurers' Suit Over Investor Deal

    A Delaware federal judge said Tuesday that a lawsuit brought by two excess insurers that want out of covering a 3M unit's shareholder settlement can proceed, finding that the suit was not filed prematurely.

  • October 19, 2021

    Therapy Co. Seeks Partial Quick Win In Fraud Coverage Row

    A defunct child therapy practice told a Virginia federal judge that on its insurance application, it correctly didn't list as a psychotherapist one of its employees who is now accused in multiple lawsuits of fraudulently pretending to be licensed.

  • October 18, 2021

    Insurer Atty's 'Disastrous' Defense Cost Millions, 9th Circ. Told

    A claims handler urged the Ninth Circuit Monday to vacate an insurer's $5.5 million award to recoup defense costs in underlying litigation over a car crash, arguing that the insurer hired an incompetent attorney who pursued a "disastrous" defense strategy against professional negligence claims that resulted in an $18.5 million arbitration loss.

  • October 18, 2021

    Wash. Insurance Chief Moving Forward With Credit Score Ban

    Washington Insurance Commissioner Mike Kreidler is moving ahead with his plan to issue a three-year ban to stop insurance companies from using credit scoring to price personal lines policies, after a state court judge halted the regulator's emergency order earlier this month.

  • October 18, 2021

    Reinsurers Ask DC Circ. To Toss $22M Arbitration Award Bid

    A group of reinsurance units of Hannover Re, AXA XL and Liberty Mutual urged the D.C. Circuit to reject a financial consulting company's coverage bid for a $22 million arbitration award, saying the lower court correctly held that the company was not their policyholder.

Expert Analysis

  • Subpoena Defense Cost Ruling Gets Insurance Law Wrong

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    A Connecticut federal court's recent decision that National Union Fire Insurance Co. of Pittsburgh didn't need to cover defense costs for a power utility's response to a grand jury subpoena included two crucial mistakes that contravene long-standing insurance law principles, say attorneys at Hunton.

  • Insurance Commissioner's Agenda: DC On Long-Term Care

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    Washington, D.C., Insurance Commissioner Karima Woods outlines the development of insurance coverage for older adults' long-term care benefits and how regulators and the industry are attempting to resolve issues with the popular product.

  • 5 Buyers' Counsel Tips For R&W Insurance Underwriting Calls

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    With representations and warranties insurance becoming more popular than ever, buyers' counsel participating in underwriting calls for such insurance should follow certain best practices to secure contracts with minimal exclusions, say Bryan O'Keefe and Gena Usenheimer at Seyfarth.

  • When A Denial Of Recovery-Based Insurance Claim Is Invalid

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    Two recent court decisions show that policyholders should not accept denials of coverage based on the uninsurability of restitution or disgorgement-based losses without a detailed, two-part analysis of the specific state's law and the particular facts of the loss, say Stephen Raptis and Emily Buchanan at Haynes and Boone.

  • Insurance Commissioner's Agenda: Del. Tackles Mental Health

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    Delaware Insurance Commissioner Trinidad Navarro highlights the state's efforts to achieve insurance coverage parity for mental health care by confronting systemic stigma and penalizing disparate and restrictive insurance determinations.

  • Key Takeaways From The NAIC Summer National Meeting

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    Stephanie Duchene and Kara Baysinger at Willkie highlight what insurance practitioners should know about top industry priorities from the National Association of Insurance Commissioners’ recent national meeting, including climate-related risk, diversity and inclusion, and technological innovation.

  • Considerations In Structuring Private Equity D&O Coverage

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    With the surge in investment activity driven by the ongoing pandemic recovery, private equity firms should carefully consider the scope of protection afforded by their directors and officers and general partnership liability programs, and how that coverage fits into their overall risk mitigation strategy, say Geoffrey Fehling and Syed Ahmad at Hunton and Rachel Beck at CAC Specialty.

  • The Complex State Of Insurance In The Cannabis Business

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    Jan Larson and Philip Sailer at Jenner & Block outline the complex cannabis regulatory schemes perplexing courts faced with insurance coverage cases and discuss legislative solutions that could at least begin to reduce the challenges for both policyholders and insurers.

  • D&O Coverage Considerations Amid Increasing SEC Scrutiny

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    With all signs pointing to heightened U.S. Securities and Exchange Commission oversight and enforcement, policyholders should be asking four questions to ensure their directors and officers insurance provides the protection they expect and to avoid coverage disputes, say Robin Cohen and Orrie Levy at Cohen Ziffer.

  • Policyholder Best Practices As Cyberattacks Escalate

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    As ransomware attacks increasingly target corporate victims, policyholders should enhance cybersecurity and privacy efforts to avoid regulatory hot water and mitigate the effects of rising insurance premiums and coverage restrictions, say Lee Epstein and Krishna Jani at Flaster Greenberg.

  • Embracing ESG: AIG Counsel Talks SEC Risk Alert

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    As the U.S. Securities and Exchange Commission responds to the changing landscape on environmental, social and corporate governance investing, including with its recent risk alert, it is imperative that the regulator take a measured approach, says Kate Fuentes at AIG.

  • Insurance Commissioner's Agenda: Wis. Tackles Climate Risk

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    Wisconsin Commissioner of Insurance Mark Afable talks about educating consumers on potential climate-risk coverage gaps and mitigation efforts, and encouraging insurers to recognize the latter in underwriting, in the face of increasingly frequent and severe weather disasters.

  • Insurer Considerations For Post-Pandemic Virtual Mediation

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    To determine whether to continue engaging in virtual mediations after the pandemic ends, insurers should weigh the format's challenges against its benefits, including decreased hostility between parties, time and cost, and increased client participation, say Jennifer Gibbs and Amanda Rodriguez at Zelle.