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|Stop Loss Policies Containing Certain Provisions Must Be Amended by September 1, 2015, Connecticut Insurance Commissioner Says|
Colodny Fass P.A.;
July 15, 2015, previously published on July 9, 2015In Bulletin(s) HC-103 and PC-79 issued yesterday, July 8, 2015, Connecticut Insurance Commissioner Katharine Wade advised all insurance companies and others doing business in the State of Connecticut on certain provisions that will not be approved in a stop loss policy.
|A Reservation of Rights Letter is Ineffective When it is Untimely and Not Specifically Addressed to the Additional Insured|
Allison L. Krupp; Marshall Dennehey Warner Coleman & Goggin, P.C.;
July 14, 2015, previously published on July 6, 2015In this unprecedented and highly impactful case, the Pennsylvania Superior Court held that two separate reservation of rights (ROR) letters were ineffective as to an additional insured because they were addressed to the named insureds and were sent seven months after the underlying complaint had...
|Price Optimization White Paper Draft Comments To Be Reviewed at NAIC Casualty Actuarial and Statistical Task Force July 21 Meeting|
G. Donovan Brown; Colodny Fass, P.A.;
July 14, 2015, previously published on July 13, 2015"The (insurance) industry (has a) penchant for avoiding regulatory scrutiny of risk classifications by calling them something else . . . . Regulators need to stop this verbal arbitrage by insurers."
|Critical Regulations and Libel Suit Raise Adverse Publicity Coverage Issues|
Joseph F. Bermudez; Wilson Elser Moskowitz Edelman & Dicker LLP;
July 14, 2015, previously published on July 13, 2015Brand is everything! The ability and opportunities to extend a brand’s reach are vast, with the smallest companies able to brand globally. Equally important is protecting an established brand. Competitors and consumers can criticize, attack, protest, boycott, complain about and even...
|Massachusetts Appeals Court Adopts Two-Prong Continuity and Profit Motive Test to Determine Whether Business Pursuits Exclusion Applies Under Homeowners' Policy|
William T. Bogaert, Kara Thorvaldsen; Wilson Elser Moskowitz Edelman & Dicker LLP;
July 13, 2015, previously published on July 7, 2015The Massachusetts Appeals Court has provided some much needed guidance on the “business pursuits exclusion” in a recent coverage dispute between a homeowners’ insurer and a commercial liability insurer. In Preferred Mutual Ins. Co. v. Vermont Mut. Ins. Co., Mass. App. Ct. No....
|Pennsylvania Superior Court Further Limits the Limited Tort Defense|
Patrick M. Carey; Marshall Dennehey Warner Coleman & Goggin, P.C.;
July 13, 2015, previously published on June 1, 2015After criticizing the reasoning behind a decision it rendered in 1997, the Pennsylvania Superior Court opted to follow that flawed logic when deciding the recent limited-tort case of Varner-Mort v. Kapfhammer, 109 A.3d 244 (Pa.Super. 2015). In that case, Donna Varner-Mort was involved in an...
|Cyber Liability: Are you protected? Examining your coverage in the wake of the first decision under a cyber insurance policy|
Kristen E. Hudson; Chuhak Tecson P.C.;
July 10, 2015, previously published on July 2, 2015The first coverage decision under a “cyber” policy was handed down in May 2015 from a Utah federal court. That case - Travelers Property Casualty Co. v. Federal Recovery Services, Inc.- did not involve a data breach, but it did involve a dispute over data rights, and contains a number...
|Florida Hurricane Catastrophe Fund Projected Aggregate 2015 Premium Updated|
Colodny Fass P.A.;
July 10, 2015, previously published on July 6, 2015The Florida Hurricane Catastrophe Fund ("FHCF") advised today, July 6, 2015, that, subsequent to the development of its 2015 Ratemaking Formula Report, several insurers revised their coverage selections for the 2015 FHCF Contract Year. As a result of these changes, the estimate of the...
|Ohio Anti-Subrogation Law Passed As Part of Budget Approved by Governor Kasich|
Ted M. Traut; Weltman, Weinberg & Reis Co., L.P.A.;
July 10, 2015, previously published on July 1, 2015Governor Kasich approved an amendment as part of the state budget which will affect an insurer or health plan's ability to recover medical expenses that it has paid out on behalf of its insured as a result of an injury. This amendment was introduced just days before the budget was set to be...
|Eleventh Circuit Denies Coverage for Wrongful Acts of Directors and Officers That Arose Out of Their Wrongful Acts as Trustees, an Uninsured Capacity|
Thomas M. Spitaletto, James K. Thurston; Wilson Elser Moskowitz Edelman & Dicker LLP;
July 8, 2015, previously published on June 30, 2015On Monday, June 22, 2015, the Eleventh Circuit, in The Langdale Company v. National Union Fire Insurance Company of Pittsburgh, PA, No. 14-12723 (11th Cir. 2015), ruled for the insurer on a “capacity” exclusion in a director and officer policy that precluded coverage for loss in...