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|EIOPA Chairman Comments on Role of the CRO|
Mayer Brown LLP;
January 23, 2015, previously published on November 11, 2014On October 10, 2014, the European Insurance and Occupational Pensions Authority (“EIOPA”) published a speech (dated September 26, 2014) given by Gabriel Bernardino, EIOPA Chairman, on a number of topics, including the role of the chief risk officer (“CRO”).
|Stephens & Stephens XII, LLC v. Fireman's Fund Insurance Co. (November 24, 2014) - Cal.Rptr.3d -, 2014 WL 6679263|
McCormick Barstow Sheppard Wayte Carruth LLP;
January 23, 2015, previously published on January 23, 2015Fireman's Fund Insurance Company ("Fireman's Fund") issued a commercial insurance policy covering loss from property damage, including lost rental value and business income, to a building owned by Stephens & Stephens XII, LLC ("Stephens XII"). The policy provided two...
|Court Addresses Whether Insurance Company's Consult With Counsel Constitutes Waiver of Attorney Client Privilege|
Jones Skelton Hochuli P.L.C.;
January 22, 2015Rudolfo Brothers Plastering, Inc. claimed that Everest Indemnity Insurance Company acted in bad faith by entering into a settlement agreement that exhausted the liability coverage of an Owner Controlled Insurance Program (OCIP) policy to Rudolfo’s detriment. Everest argued it reached the...
Withers Bergman LLP;
January 20, 2015, previously published on December 4, 2014Insurance services are generally exempt from VAT. This ought to cover services of intermediaries, often called insurance brokers or insurance agents. The basic premise is that the broker intercedes between the person who needs the insurance and the person who can provide it. He usually has direct...
|Predictive Coding Slowly Becoming a Game Changer|
Rachael Lewis Anna; Nexsen Pruet, LLC;
January 19, 2015, previously published on December 18, 2014In 2012, Magistrate Judge Andrew Peck of the Southern District of New York approved the use of predictive coding (also called “technology assisted review” or “TAR”) in Da Silva Moore v. Publicis Groupe to search for relevant information. Predictive coding enables attorneys...
|A Hard Rain’s A-Gonna Fall: Hail Damage, Appraisal, And Lam v. Allstate|
J. Benson Ward; Drew Eckl & Farnham, LLP;
January 16, 2015, previously published on November 2014The appraisal process provides a mechanism by which homeowners and insurance companies may quickly and relatively inexpensively resolve disputes concerning the amount of damages in a covered loss. The appraisal provision allows the value of covered damages to be objectively determined without risks...
|Citing Inconsistent Implementation, Federal Insurance Office Contemplates Pre-Emption of State Reinsurance Collateral Requirements|
Colodny Fass P.A.;
January 16, 2015, previously published on January 06, 2015Lloyd’s, the Association of Bermuda Insurers and Reinsurers, and the Property Casualty Insurers Association of America were among 30 domestic and international respondents to a Federal Insurance Office (FIO) 2014 request for comment on the scope of the global reinsurance market. The feedback...
|Litigation Pitfalls: Failure to Preserve Evidence in Your “Control.”|
Lisa Richardson; Drew Eckl & Farnham, LLP;
January 16, 2015, previously published on May 2014Spoliation of evidence is the destruction or failure to preserve evidence within the possession, custody or control of a party after that party anticipates litigation. A charge of spoliation is serious because it can lead to sanctions.
|Florida Office of Insurance Regulation Reviews Market Status With Senate Banking and Insurance Committee Today|
Colodny Fass P.A.;
January 16, 2015, previously published on January 06, 2015Florida's Senate Committee on Banking and Insurance Committee ("Committee") met today, January 6, 2015, during which Florida Office of Insurance Regulation ("OIR") Deputy Chief of Staff Monte Stevens presented on the status of Florida's insurance market.
|Apportionment: The Court Clarifies the State of Contribution and Indemnity|
Emily M. Shuman; Drew Eckl & Farnham, LLP;
January 16, 2015, previously published on May 2014Since tort reform was enacted in 2005, the Georgia law on apportionment has continued to evolve. To some extent, the Courts have become more clear about whether contribution and indemnity still exist.