Property
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July 18, 2024
Split 9th Circ. Panel Backs Restoring DHS Bond Rule
A Ninth Circuit panel upheld a Department of Homeland Security rule barring some immigration surety firms from posting bonds for detained border-crossers Thursday, saying the rule's 2021 ratification by current Homeland Security Secretary Alejandro Mayorkas cured any defects with its original introduction in 2020.
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July 18, 2024
9th Circ. Weighs Nevada High Court Cert. In Subrogation Suit
The Ninth Circuit on Thursday suggested it might certify a question to the Nevada Supreme Court over whether an insurer can subrogate against another carrier if an underlying, covered settlement doesn't exceed their combined limits, questioning the extent they should be persuaded by two unpublished Nevada Supreme Court decisions.
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July 18, 2024
Vineyard Says Insurer Owes Coverage For $50M Of Bad Wine
A vineyard is blaming its excess insurer for refusing to contribute to a settlement after an underlying lawsuit asserted more than $50 million in claims against it for allegedly damaging over 300,000 cases of wine, according to a case moved to Washington federal court.
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July 18, 2024
FEMA Flood Standard A Step In Right Direction, Experts Say
The Biden Administration's decision last week to continue implementing a stronger flood protection standard is being welcomed by experts as a way to improve resiliency, even though the rule likely won't have a significant direct effect on flood insurance.
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July 18, 2024
Former Md. Insurance Head Reflects On Return To DLA Piper
Kathleen Birrane returned to DLA Piper to lead the firm's U.S. insurance regulatory practice after four years as Maryland's insurance commissioner, resuming her role in private practice with years of experience working across state and international lines on emerging issues. Law360 spoke with Birrane by email about her career.
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July 18, 2024
Insurance Litigation Week In Review
An Amazon insurer was given the green light to pursue its subrogation claims, a former Georgia insurance commissioner was sentenced to 3½ years for his kickback scheme, 3M couldn't get a quick win in its combat earplugs multidistrict litigation coverage dispute, and an electronics components maker lost its $100 million COVID-19 coverage appeal. Here, Law360 takes a look at this week's top insurance news.
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July 18, 2024
Ga. Mineral Co. Can't Nab Win In Row Over Talc Suit Coverage
A Georgia federal judge declined to grant a win to a mineral products company trying to compel a Travelers unit to defend it against an underlying suit claiming that it supplied asbestos-containing talc products.
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July 17, 2024
Conn. Enacts Legislation To Support Captive Insurers
Connecticut Gov. Ned Lamont signed into law an act aimed at furthering the state's commitment to the captive insurance industry, building upon the legislative efforts of recent years that have positioned Connecticut as the leading domicile for captives.
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July 17, 2024
U. Miami Climate Leader Sees Chance For Innovation
With Miami often called the "ground zero" of the climate change crisis, the University of Miami in 2022 launched a Climate Resilience Academy to coordinate an interdisciplinary response. Nearly a year into his tenure, its leader reflects on the opportunity for midsize city innovation in infrastructure in the face of climate challenges.
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July 17, 2024
Md. Justices Say Amazon Insurer Can Pursue Subrogation
An insurer for Amazon can continue to pursue subrogation against subcontractors for a Baltimore warehouse construction project, the Maryland Supreme Court unanimously ruled, after the insurer said it covered Amazon for over $50 million worth of damage caused by severe weather.
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July 16, 2024
AIG Unit Must Face Mall's COVID-19 Coverage Claims
An AIG unit must face claims that it is liable for a mall operator's losses from rent abatement agreements entered into with tenants during the COVID-19 pandemic, a California federal court ruled, also finding a material dispute about whether the policy's contamination exclusion bars coverage for pandemic-related losses.
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July 16, 2024
The 2024 Diversity Snapshot: What You Need To Know
Law firms' ongoing initiatives to address diversity challenges have driven another year of progress, with the representation of minority attorneys continuing to improve across the board, albeit at a slower pace than in previous years. Here's our data dive into minority representation at law firms in 2023.
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July 16, 2024
These Firms Have The Most Diverse Equity Partnerships
Law360’s law firm survey shows that firms' efforts to diversify their equity partner ranks are lagging. But some have embraced a broader talent pool at the equity partner level. Here are the ones that stood out.
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July 15, 2024
Resort Owner Seeks Arb. In Storm Damage Insurance Row
A resort owner seeking to arbitrate its $55 million storm damage claim told a Hawaii federal court that its insurers can't litigate in New York federal court since its policies contain a "mishmash" of forum selection requirements, while the insurers separately countered that arbitration still can't happen yet.
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July 15, 2024
Towers Watson Asks 4th Circ. To Find Merger Dispute Covered
Towers Watson's insurers must pay out $54 million in remaining directors and officers coverage to help fund a $75 million settlement in a shareholder suit over the company's merger with Willis, Towers Watson told the Fourth Circuit, saying a so-called bump-up exclusion does not apply.
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July 15, 2024
Casino Owner Says Insurer Must Face $130M COVID Loss Suit
A casino operator with properties on the Las Vegas strip and beyond asked a Nevada federal judge to keep its $130 million COVID-19 pandemic loss coverage suit alive, arguing that its insurer presented no valid reason to end the dispute.
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July 12, 2024
Law360 Names 2024's Top Attorneys Under 40
Law360 is pleased to announce the Rising Stars of 2024, our list of 158 attorneys under 40 whose legal accomplishments belie their age.
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July 11, 2024
Allstate Must Face Deflated Payments Suit, Judge Rules
Allstate cannot escape a proposed class action accusing the insurer of wrongfully depreciating labor costs as part of actual cash value payments to insureds for property damage, an Arizona federal judge ruled, finding that the named plaintiff didn't lack standing and that her claims weren't time-barred.
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July 11, 2024
NY Tells Insurers To Test AI For Discrimination Before Use
New York has set a high bar for insurers' artificial intelligence systems, recommending Thursday that they avoid the technology for underwriting or pricing unless they determine the systems and their underlying data are compliant with consumer protection laws.
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July 11, 2024
The Top Property Insurance Decisions of 2024 So Far
Two major state supreme court decisions on insurance coverage for pandemic losses and a Colorado ruling on whether policyholders can be excused for making late homeowners claims are among the top property insurance decisions of 2024 so far.
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July 11, 2024
9th Circ. Won't Cancel Chubb's 'Morning Show' COVID-19 Win
The Ninth Circuit affirmed a lower court's ruling Thursday that a Chubb unit does not owe the production company behind "The Morning Show" $44 million in pandemic-related losses, ruling that the policy's provision for "imminent direct physical loss or damage" did not apply to the "potential presence" of coronavirus in the facility.
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July 11, 2024
9th Circ. To Weigh When Inter-Insurer Subrogation Is Allowed
The Ninth Circuit next Thursday will hear oral arguments on whether an excess insurer can recoup from a primary insurer its $4 million share of a $5 million wrongful death settlement, even though the total settlement sum did not exceed the insurers' combined policy limits.
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July 11, 2024
Syracuse Diocese To Notice Creditors On Ch. 11 Releases
Lawyers for the Diocese of Syracuse said they've come up with a process to collect creditor consent for third party releases in an already voted on reorganization plan, telling a New York bankruptcy judge Thursday the approach will hopefully head off confirmation issues after the U.S. Supreme Court struck down nonconsensual third party releases in Chapter 11 plans.
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July 11, 2024
Insurance Litigation Week In Review
Foreclosure prevented a man's house fire windfall, a former Georgia insurance commissioner sought a lesser sentence for his kickback scheme, Kiwanis leaders and sex abuse survivors demanded coverage, and a federal judge extended a penile enlargement injury coverage suit.
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July 11, 2024
Climate Suit Report Highlights Carrier Greenwashing Risk
A recent report highlighting global trends in climate change litigation points to a potentially significant source of exposure for insurers in the form of what are known as greenwashing suits against their insureds, and more direct risks against carriers themselves, experts say.
Expert Analysis
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Insurance Considerations For Cos. Assessing New AI Risks
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.
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AI Brings New Insurance Concerns For Healthcare Providers
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.
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Superfund Site Reopenings Carry Insured Risk, Opportunity
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.
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3 AI Regulation Developments Insurers Must Follow
Insurance regulators continue to actively develop regulations and guidance on the use of artificial intelligence, so insurers should be aware of recent developments from the Colorado Division of Insurance, the National Association of Insurance Commissioners and the New York Department of Financial Services, say attorneys at Willkie.
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DC Ruling Provides Support For Builders Risk Claim Recovery
To deny coverage for builders risk claims, insurers have been increasingly relying on two arguments, both of which have been invalidated in the recent U.S. District Court for the District of Columbia decision, South Capitol Bridgebuilders v. Lexington, say Greg Podolak and Cheryl Kozdrey at Saxe Doernberger.
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Deal Over Jets Stranded In Russia May Serve As Blueprint
In the face of a pending "mega-trial" over leased airplanes held in Russia after its invasion of Ukraine, a settlement between leading aviation lessor AerCap Holdings NV and NSK, the Russian state-controlled insurance company, could pave the way for similar deals, say Samantha Zaozirny and Timeyin Pinnick at Browne Jacobson.
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Illinois Trump Tower Ruling Illuminates Insurance 'Occurrence'
In Continental Casualty v. 401 North Wabash Venture, an Illinois appellate court found that Trump Tower was not entitled to insurance coverage for operating its HVAC system without a permit, helping to further define a widely litigated general liability insurance issue — what constitutes an "occurrence," say Robert Tugander and Greg Mann at Rivkin Radler.
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How Shareholder Activists Are Targeting Insurers
As shareholder activists take a closer look at the insurance industry, they are pushing insurers to take value-enhancing and climate-related measures — but insurers can prepare by anticipating activist concerns, maintaining robust shareholder engagement, and considering changes in response to the universal proxy rules, say attorneys at Debevoise.
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Insurers Should Prepare For 'Black Swan' Climate Disasters
As rapid climate change results in increased risk of casualties and property loss from rare, severe weather events, the insurance industry should take five crucial steps toward evolving and continuing operations, including advanced analytic techniques and investments in alternative energy sources, say Stephen Brown and Irena Maier at Wilson Elser.
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3 Quirks Of New Jersey Insurance Coverage Law
There are a multitude of state-specific requirements and nuances that make New Jersey insurance law unique, including in the areas of duty to defend, reservation of rights and bad faith, say attorneys at Goldberg Segalla.
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Conn. Insurers Should Note Stricter Market Exit Oversight
The Connecticut Insurance Department recently issued a bulletin that reflects a unique and stricter approach to insurers' market withdrawals and reductions in property and casualty business, making clear that it will not assess compliance based on an insurer's intent, but on the effect of the insurer's actions, says Elizabeth Retersdorf at Day Pitney.
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Extreme Weather And Renewable Project Insurance Coverage
Excerpt from Practical Guidance
The regularity and severity of extreme weather events driven by climate change are putting renewable energy projects increasingly at risk — so project owners, contractors and investors should understand the issues that can arise in these situations when seeking recovery under a builder's risk insurance policy, say Paul Ferland and Joshua Tumen at Cozen O'Connor.
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Potential Relief For Nevada Insureds Is On The Horizon
A proposed regulation recently issued by the Nevada Division of Insurance would severely restrict the state's new law prohibiting burning-limits policies, enacting welcome changes to address businesses' concerns that the law will make it harder to obtain cost-effective liability insurance, says Sheri Thome at Wilson Elser.