Property

  • April 04, 2024

    Trump Fraud Appeal Spotlights Underwriting Irregularities

    Donald Trump's ongoing challenge to a $465 million civil fraud judgment for a decadelong valuation fraud conspiracy raises questions about insurance procedures, how underwriters price risk and who is harmed by the alleged fraud perpetrated by the former president and his associates.

  • April 04, 2024

    Insurance Litigation Week In Review

    The Ninth Circuit heard a coverage dispute over an unsuccessful shipwreck salvaging expedition, Delaware's justices agreed to consider whether an ex-Xerox unit tried to defraud insurers into covering a $236 million settlement, and the owner of Washington, D.C., professional sports teams ended its bid for COVID-19 coverage.

  • April 04, 2024

    A College Professor's Approach To Insurance

    A strong education is crucial to address the role insurance plays on both the personal and professional level — something University of Georgia professor Rob Hoyt demonstrates in his classroom. Here, Law360 speaks to Hoyt about how research, teaching and service guide his work.

  • April 04, 2024

    NY AG Wants Trump Insurer To Guarantee $175M Bond

    New York Attorney General Letitia James asked a Manhattan judge Thursday to make sure the California insurer that agreed to post Donald Trump's $175 million bond in his civil business fraud case can actually pay.

  • April 04, 2024

    Last-Resort Insurers Grapple With Increasing Exposure

    Insurance pools meant to serve as backstops for consumers shut out of traditional markets are grappling with increased exposure to natural disasters, according to experts and market data, a trend that observers say is concerning as climate change intensifies storms.

  • April 04, 2024

    Surfside, Fla., Condo Collapse Victims To Get Additional $4.8M

    A Florida judge signed off Thursday on an additional $4.8 million distribution to the victims of the deadly collapse of the Champlain Towers South condominium after the receiver overseeing the defunct condominium association told the court the association had fewer financial obligations and tax liabilities than expected. 

  • April 03, 2024

    5th Circ. Remands Roof Tile Row To Texas District Court

    State Farm and a couple must further litigate whether there's coverage for hailstorm-related roof repairs under a policy provision covering costs to keep their home up to code, the Fifth Circuit ruled, finding a genuine factual dispute over whether replacement roof tiles interlock with original ones.

  • April 03, 2024

    Insurer Says Rail Co. Must Pay In $400K Spoiled Chicken Suit

    Over $400,000 worth of frozen chicken thighs rotted on the move to Oregon, and an insurer who covered the putrid loss told a South Carolina federal court that the rail company responsible should pay for the screw-up.

  • April 03, 2024

    Insurer, DC Teams' Owner End Virus Coverage Dispute

    The owner of Washington, D.C., professional basketball and hockey teams and its insurer agreed to end their COVID-19 coverage dispute after the owner appealed the dismissal of its coverage claims to the D.C. Circuit.

  • April 03, 2024

    Auto Insurer Seeks Payback After $2M Car Crash Settlement

    A business insurer of a man who crashed a rental car into a motorcyclist while working in Los Angeles should pay something in connection with a $2 million settlement with the injured biker, an auto insurer told a California federal court, seeking to recoup its expenses.

  • April 02, 2024

    Utility Cos. Must Face Uri MDL Gross Negligence Claims

    Transmission and distribution utility providers can't escape allegations they were grossly negligent in cutting off power to Texans during winter storm Uri, a Texas state appeals court ruled Tuesday in an opinion that keeps intact only two claims against the companies in the multidistrict litigation created to handle consumer actions from the severe weather event.

  • April 02, 2024

    La. Property Owners, Insurers To Arbitrate Hurricane Claims

    A Hurricane Ida damage coverage dispute between seven New Orleans-area property owners and their insurers will be stayed pending arbitration, a Louisiana federal judge ruled, agreeing with the insurers that the policy's arbitration agreement is enforceable under the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards.

  • April 01, 2024

    Insurer Can't Avoid Indemnity Payments Over Grocery Fire

    West Bend Mutual cannot avoid making extra indemnity payments to a Detroit grocery store over a fire or collect its insured's unpaid premium from another insurer, a Michigan federal court ruled after previously compelling both insurers to provide coverage because their policies were active when the fire occurred.

  • March 29, 2024

    8th Circ. Revives $1.5M Mo. Tornado Coverage Dispute

    A Missouri building materials company has another shot at collecting from an insurer accused of failing to fully cover more than $3 million in 2013 tornado damage, an Eighth Circuit panel ruled Friday, disagreeing with a trial court's determination that the business was uncooperative with its insurer.

  • March 28, 2024

    Baltimore Bridge Collision Raises Massive Insurance Fallout

    A container ship collision that destroyed Baltimore's landmark Francis Scott Key Bridge caused a level of death, injury, destruction and economic harm that will likely cost the insurance sector billions of dollars and leave many without closure or compensation for years.

  • March 28, 2024

    Insurer Won't Pay Half Snow Remover's Fraud Coverage Suit

    An insurer avoided paying for half of a nearly $360,000 wire fraud scheme targeting a snow removal company Thursday, after a Minnesota federal judge found its policy precluded coverage for a variety of reasons.

  • March 28, 2024

    Q&A: Former Calif. Insurance Chief On Climate & Rate Setting

    From intense wildfires to devastating floods, the effects of climate change on California's insurance market cannot be understated, a fact that experts point to often as regulators weigh how to bring insurers back to business in the Golden State.

  • March 28, 2024

    Insurance Litigation Week In Review

    A marine insurer confirmed it's cooperating with Baltimore authorities after an insured cargo ship collided with the Francis Scott Key Bridge, music festival South by Southwest's class action coverage efforts were renewed, and North Carolina justices dismantled 30 years of intermediate appellate court adherence to "stacking" underinsured motorist policies.

  • March 28, 2024

    Foxwoods Tribal Owner Loses $76M COVID Insurance Appeal

    The Mashantucket Pequot Tribal Nation, which owns and operates the Foxwoods Resort Casino in Connecticut, did not meet a key burden when suing its insurer for more than $76 million in losses tied to the COVID-19 pandemic, the state's intermediate-level appeals court ruled Thursday in declining to revive the litigation.

  • March 28, 2024

    Wash. Appeals Court Asked To Mull COVID Coverage Question

    A Washington state court has halted litigation over the University of Washington's bid for COVID-19 business interruption coverage from a Liberty Mutual unit, asking a state appeals court to first determine whether the presence of COVID-19 satisfies UW's policies' direct physical loss or damage requirement and if a contamination exclusion applies.

  • March 28, 2024

    Flood Risk Disclosure Law Uptick Offers Insurance Upsides

    A growing trend of states adopting and implementing flood risk disclosure laws must continue, experts say, touting such laws as protecting consumers and informing efforts to mitigate climate change costs through insurance and other risk management efforts.

  • March 28, 2024

    5th Circ. Limits Broad Contract Liability Exclusions In SXSW

    The Fifth Circuit awarded policyholders a major victory over a thorny issue when it ruled that Texas music festival South by Southwest's insurer owed defense coverage for a ticket holder class action over unpaid refunds from the canceled 2020 festival.

  • March 28, 2024

    Mercedes, Insurer Don't Owe Reimbursement For Vehicle Fire

    Mercedes-Benz's North American research arm and its insurer don't owe reimbursement to a commercial real estate operator's insurer for $1 million in damages stemming from a vehicle fire at a testing facility, a Michigan federal judge ruled, finding that Mercedes' insurer issued commercial general liability coverage, not property protection insurance.

  • March 28, 2024

    Insurer's $1.37M Suit Over Stolen Walmart Flare Gun Misfires

    An Oregon federal judge has thrown out a $1.37 million suit from Ascot Specialty Insurance Co. against Walmart Inc. seeking to hold the retailer liable for a fire started by a stolen flare gun, saying the insurer has failed to show how Walmart is responsible for a third party's criminal acts.

  • March 28, 2024

    NC Justices' Split Leaves Willful Violation Question Unsolved

    A dispute over coverage for a law firm accused of violating the Driver's Privacy Protection Act provided an opportunity for the North Carolina Supreme Court to interpret a policy exclusion for the willful violation of a statute, but experts say a deadlocked decision will leave the issue for another day.

Expert Analysis

  • A Key Tool For Calif. Policyholders With Nonadmitted Insurers

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    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

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    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

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    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

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    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

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    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

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    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

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    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

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    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

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    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

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    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

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    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.

  • 3 AI Regulation Developments Insurers Must Follow

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    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.

  • DC Ruling Provides Support For Builders Risk Claim Recovery

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    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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