Articles in Channel: Insurance Law

Public Adjuster Senate Bill on Banking and Insurance Committee Agenda

March 15, 2010 10:20

Florida Senate Bill 2264 has been set on the agenda of the Banking and Insurance Committee Agenda this Wednesday. This is the same legislation that was filed in the Florida House of Representatives as HB 1181.I previously discussed this legislation in a post, Policyholders and Public Adjusting...

Interview with the Authors of "Circle of Greed"

March 15, 2010 01:06

In their terrific new book "Circle of Greed: The Spectacular Rise and Fall of the Lawyer Who Brought Corporate America to Its Knees," Patrick Dillon and Carl M. Cannon detail the fascinating story of Bill Lerach, who rose to the pinnacle of his profession only to be brought down by...

Madoff-Related Derivative Suit Survives Dismissal Motion in New York Court

March 15, 2010 01:01

In a March 12, 2010 order (here) in a Madoff-related derivative suit, the New York (Nassau County) Supreme Court, applying New York law, substantially denied defendants’ motion to dismiss, holding among other things that demand was excused. As far as I am aware, this is the first...

In Tough Economic Times, Extra Expense Coverage Should Survive Budget Cuts - Understanding Business Interruption Claims, Part 11

March 14, 2010 11:28

(Note: This Guest Blog is by Michelle Claverol, an attorney with Merlin Law Group in the Coral Gables, Florida, office. This is the part of a series she is writing on business interruption claims).  In these tough economic times, many businesses are looking to cut expenses and trim...

An Insurer's Actions May Excuse Mitigation Requirements

March 13, 2010 03:42

(Note: This Guest Blog is by Corey Harris, an attorney with Merlin Law Group in the Tampa, Florida, office. This is part of a series he is writing on post-loss duties).  I recently took the deposition of an independent adjuster who worked on behalf of one of the larger insurers in the state....

Washington Court of Appeals Reiterates, In Two Recent Opinions, That Where Policy Language Is Clear, It Will Be Enforced As Written

March 12, 2010 23:12

In two recent opinions, one from Division One and one from Division Three, the Washington Court of Appeals reiterated that when policy language is clear, it will be enforced as written. In Greenfield v. Western Heritage Ins. Co., 2010 Wash.App. Lexis 467 (March 2, 2010), the court rejected an...

New Regulatory Approaches to Short Selling in the U.S. and the EU

March 12, 2010 22:05

By: Kay A. Gordon, Dr. Wilhelm Hartung, Cary J. Meer, Philip J. Morgan, Mark D. Perlow, Neil Nick Robson, Richard Guidice, Jr Changes in the regulatory approach to the short selling of listed securities have recently been announced in both the United States (U.S.) and the European Union (EU). In...

Can an Insured Recover Under a Flood Policy and an All Risk Homeowners Policy for the Same Damage?

March 12, 2010 12:37

In Louisiana, the answer is probably “yes.” The FC&S pondered this question in its March 2010 Dec Page report titled, “Recovery Under Flood Policy and Homeowners Policy?” The highlighted case was Lightell v. State Farm Fire & Cas. Co., 2009 WL 4505942 (E.D.La. 2009)....

Lehman Bankruptcy Examiner Cites Company's "Balance Sheet Manipulation"

March 12, 2010 10:34

According to the March 11, 2010 bankruptcy examiner’s report, the collapse of Lehman Brothers was a result of the deteriorating economic climate, exacerbated by Lehman’s executives, whose conduct ranged from "serious but non-culpable errors of business judgment to actionable...

Contractor Entitled To Coverage As Additional Insured For Injury To Employee Of Subcontractor, But Insurer Still Not Obligated To Defend

March 12, 2010 00:15

In Clarendon Nat’l Ins. Co. v. American States Ins. Co., 2010 U.S. LEXIS 16091 (D. Or. Civil No. 09-548-JO, February 22, 2010), the court addressed whether a contractor qualifies as an additional insured under a policy issued to a subcontractor for injuries to the subcontractor’s...