Recent Articles

Madoff Mess and Insurance

Alan Rutkin
December 19, 2008 23:36

The Madoff Mess will eventually raise interesting insurance issues; not so much with Madoff as with the middlemen.  The entities that fed clients to Madoff will surely be sued.  Their due diligence will be questioned.  But, will the middlemen's problems be considered insured?

Subprime Crisis Creating Interesting Suits

Alan Rutkin
November 03, 2008 20:36

If you have any doubt that the financial crisis will lead to D&O claims from banks and other similar entities, read Gretchen Morgenson's article in yesterday's (11/2/08) New York Times. ...

Worrying About Waiver

Alan Rutkin
October 24, 2008 14:49

Interesting new waiver decision from New York.  Adames v. Nationwide Mutual Fire Ins. Co., 2008 Slip Op 7597 (2d Dep't App. Div. Oct. 7, 2008): "A notice of disclaimer 'must promptly apprise the claimant with a high degree of specificity of the ground or grounds on which the disclaimer is...

Alabama Enforces "Ambiguous" Pollution Exclusion

Alan Rutkin
October 19, 2008 22:43

I just read an interesting pollution exclusion decision from the Supreme Court of Alabama. State Auto Property & Casualty Insurance Co. v. Arkansas Department of Environmental Quality, 370 Ark. 251; 258 S.W.3d 736; 2007 Ark. Lexis 378 (Ark. 2007). While the court declined to overrule past...

Credit Crunch Makes Its Most Direct Hit on Insurance To Date

Alan Rutkin
September 15, 2008 13:54

It is interesting and frankly scary to read about AIG's crisis.  It will also be interesting to see how this crisis changes the way other insurers do business.  As AIG's problems will be attributed to many causes, other insurers are likely to make many different corrections.  To me,...

NYS Insurance 3420 is Limited

Alan Rutkin
September 11, 2008 20:00

Insurers in New York must worry about Insurance Law sec. 3420(d) , a provision that requires denials "as soon as possible" for accidents involving bodily injury or death.  But, a recent appellated decision found that the statute did not apply where the incident was not an...

What Constitutes a "Claim" Under A Claims Made Policy

Alan Rutkin
September 09, 2008 20:34

For an interesting discussion of what constitutes a claim letter in the absence of a definition of "claim," read In re Ancillary Receivership of Reliance Insurance Co., 2008 NY Slip Op 6690 (1st Dep't App. Div. Sept. 2, 2008).  I believe that the correct view was presented in...

NY TIMES REPORT ON SETTLEMENT STUDY

Alan Rutkin
August 21, 2008 15:02

Much has been said about a study recently reported in the NY Times concluding that from the client's perspective, settlement is often more favorable than trial.  I was surprised that there was no mention of what I often see as the biggest benefit to settling: salvaging a commercial...

Supreme Court of Wisconsin Rejects Intentional Act Exclusion

Alan Rutkin
July 24, 2008 15:35

Life can be tough for an insurer, particularly in Wisconsin.  In a July 1, 2008 decision, the Supreme Court of Wisconsin refused to enforce an intentional ACTS exclusion where the insured intentionally built a home in violation of a setback restriction.  Liebovich v. Minnesota Insurance...

Criminal and Civil Overlap May Bar Coverage in Subprimes

Alan Rutkin
June 19, 2008 15:08

Interesting to see a criminal suit being brought against people named in subprime civil suits.  http://www.nytimes.com/2008/06/20/business/20bear.html?_r=1&hp&oref=sloginDishonest conduct exclusions will surely be asserted in some of these subprime cases.