Document(s) published by this organization: 8
|Has the Second Circuit Mandated a Rubber Stamp Approval System for SEC Consent Decrees?|
Sally A. Clements, Suzanne C. Midlige; Coughlin Duffy LLP;
June 25, 2014, previously published on June 6, 2014In a long awaited decision, the Second Circuit Court of Appeals has overruled United States District Court Judge Rakoff’s refusal to affirm a $285 million settlement between Citigroup and the Securities and Exchange Commission (“SEC”) and has clarified the scope of the...
|New York Trial Court Denies Sony’s Claims against Primary CGL Insurers to Pay for Defense Costs Related to Cyber-Attack Litigation|
Steven D. Cantarutti, Kevin T. Coughlin, Robert J. Kelly; Coughlin Duffy LLP;
March 12, 2014, previously published on March 3, 2014On February 21, 2014, a New York trial court (Hon. Jeffrey K. Oing, J.S.C.) in Zurich Amer. Ins. Co. v. Sony Corp. of Amer., et al., Index No. 651982/2011 (N.Y. Sup. Ct., N.Y. Cnty.), made a significant ruling in the area of cyber risk coverage. The Court rejected claims by Sony Computer...
|Bill to Require Inclusion of “Faulty Workmanship” of Contractor in Definition of “Occurrence” in Commercial Liability Policies Introduced in New Jersey Assembly|
Julia C. Talarick, Kevin E. Wolff; Coughlin Duffy LLP;
December 10, 2013, previously published on December 4, 2013On November 25, 2013, Assemblyman Gary S. Schaer introduced a Bill, ASSEMBLY NO. 4510, to the Financial Institutions and Insurance Committee of the Assembly that, if passed, will require insurers to define the term “occurrence” in commercial liability insurance policies issued to...
|New Decision Requiring Exhaustion of Underlying Insurance - Quellos Group LLC., v. Federal Insurance Company|
Kevin T. Coughlin, Michael E. Hrinewski; Coughlin Duffy LLP;
November 26, 2013, previously published on November 19, 2013On November 12, 2013, the Court of Appeals of the State of Washington became the latest appellate court to find that excess insurance policy language that required actual payment of underlying insurance limits be followed in a less than policy limits settlement. In this action, the State’s...
|New Jersey Superior Court Clarifies Limitation To The Farmers Mutual Decision and The Applicability of the 2004 Amendment to the PLIGA Act|
Lorraine M. Armenti, Eduardo DeMarco; Coughlin Duffy LLP;
November 26, 2013, previously published on November 19, 2013On November 13, 2013, in Ward Sand & Materials Co. v. Transamerica Ins. Co., et als. (CAM-L-4130-09), Judge Robert G. Millenky of the Superior Court of New Jersey issued the first known written opinion interpreting the New Jersey Supreme Court’s recent decision in Farmers Mutual Fire Ins....
|New Jersey Supreme Court Requires Exhaustion of All Other Applicable Insurance Before N.J. Property-Liability Guaranty Association Pays Statutory Benefits For An Insolvent Insurer’s Long-Tail Claims|
Lorraine M. Armenti, Eduardo DeMarco, Christopher S. Franges; Coughlin Duffy LLP;
September 27, 2013, previously published on September 24, 2013On September 24, 2013, in Farmers Mutual Fire Ins. Co. of Salem v. NJPLIGA, ** N.J. ***, 2013 N.J. LEXIS 902, (2013), the New Jersey Supreme Court ruled that all other applicable insurance must be exhausted before the New Jersey Property-Liability Insurance Guaranty Association...
|Supreme Court Holds in Potomac Insurance Co. of Illinois v. Pennsylvania Manufacturers’ Association Insurance Co. that Release between Insured and Insurer Will Not Prevent Co-Insurer from Recovering Defense Costs Directly from the Settling Insurer|
Coughlin Duffy LLP;
September 25, 2013, previously published on September 19, 2013On September 16, 2013, the New Jersey Supreme Court held that OneBeacon Insurance Co. (“OneBeacon”), which paid defense costs in a construction defect action on behalf of Roland Aristone, Inc. (“Aristone”), could maintain an action against Pennsylvania Manufacturers’...
|In Rare Move, New York Court of Appeals Grants Motion For Reargument in K2 Investment Group, LLC v. American Guarantee & Liability Insurance Company|
Michael S. Chuven, Robert J. Kelly; Coughlin Duffy LLP;
September 12, 2013, previously published on September 6, 2013On September 3, 2013, the New York Court of Appeals granted American Guarantee & Liability Insurance Company’s motion for reargument in K2 Investment Group, LLC v. American Guarantee & Liability Insurance Company. Granting of such a motion is extremely rare, with the Court granting...