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|Equal Consideration Does Not Require Overpayment|
Jefferson T. Collins; Jones, Skelton & Hochuli, P.L.C.;
December 22, 2014, previously published on Summer 2014In Arizona, options are available to insureds when an insurer does not unconditionally agree to defend without issuing a reservation of rights letter, or denies coverage altogether. These circumstances give rise to Morris and Damron Agreements, in which an insured usually stipulates to a judgment...
|Recent Developments in Court Decisions on E-Discovery Issues|
William G. Caravetta; Jones, Skelton & Hochuli, P.L.C.;
December 22, 2014, previously published on Summer 2014The duty to preserve and collect data that may be discoverable once litigation is reasonably anticipated is well established. The following are highlights from recent decisions affecting the eDiscovery process. Although these unpublished federal decisions are not citable in state court, they are in...
|Deposit Insurance Assessment System: The FDIC Issues a Final Rule Regarding Changes to the Ratios and Ratio Thresholds to Align the Deposit Insurance Assessment System With U.S. Basel III Capital Rules|
Whitney A. Chatterjee, H. Rodgin Cohen, Elizabeth T. Davy, Mitchell S. Eitel, Michael T. Escue; Sullivan & Cromwell LLP;
December 18, 2014, previously published on November 24, 2014On November 18, 2014, the Federal Deposit Insurance Corporation (the “FDIC”) published a final rule (the “Final Rule”) modifying certain elements of its deposit insurance assessment system for insured depository institutions (“IDIs”).
|North River Ins. Co. v. Mine Safety Appliances Co., - A.3d -, 2014 WL 5784588 (Del. 2014)|
James W. Semple; Morris James LLP;
December 16, 2014, previously published on November 24, 2014Mine Safety Appliances Company (“MSA”), a safety appliances company, faced a multitude of personal injury claims due to alleged defects in its safety equipment. MSA, in turn, sought costs, including legal fees, costs of judgments and settlement amounts from its insurers, including The...
|No Assignment Clause Does Not Bar Coverage Where Insured Undergoes A Statutory Merger; Insurer Required To Pay Counsel Fees, Even In Absence Of Bad Faith (New Jersey Federal)|
Fineman Krekstein Harris P.C.;
December 15, 2014, previously published on December 4, 2014In Lime Tree Assocs., LLC v. Burlington Ins. Co., the court considered whether an insurer had properly denied coverage under a ‘no assignment’ clause in the policy, where the underlying insured-company underwent a statutory merger, resulting in a surviving LLC. Under New Jersey law,...
|NAIC 2014 Fall National Meeting and Congressional Hearing on Global Standards in Insurance Regulation|
Eric A. Arnold, B. Scott Burton, Eric R. Fenichel, Ling Ling, John S. Pruitt; Sutherland Asbill & Brennan LLP;
December 12, 2014, previously published on November 24, 2014The National Association of Insurance Commissioners (NAIC) met for its Fall National Meeting in Washington, D.C. from November 14th through November 19th. As with prior meetings, competition among state, Federal and international regulators for leadership in setting regulatory policy and standards...
|Privity of Contract is Still the Rule... For Breach-Of-Implied-Warranty Claims Against Subcontractors, Even For New Home Construction|
Jonathan P. Barnes; Jones, Skelton & Hochuli, P.L.C.;
December 11, 2014, previously published on Summer 2014Arizona has long recognized the existence of an implied warranty arising out of new home construction. In Columbia Western Corp. v. Vela., the Arizona Court of Appeals expanded implied warranty liability to cover builder-vendors with overarching responsibility for “new home...
|Massachusetts High Court Rules That Insurer’s Full Reimbursement of Insured’s Expenses Does Not Bar Insured’s G.L. c. 93A Claim|
Laura E. Bange; Edwards Wildman Palmer LLP;
December 5, 2014, previously published on November 26, 2014The Supreme Judicial Court of Massachusetts recently considered whether an insured could pursue a claim against an insurer which had breached its duty to defend for unfair or deceptive acts or practices under G.L. c. 93A, § 11, notwithstanding the insurer’s full reimbursement of the...
|A Second Effort to Establish a National Association of Registered Agents and Brokers (NARAB II)|
Mayer Brown LLP;
December 2, 2014, previously published on November 11, 2014A provision in the federal Gramm-Leach-Bliley Act of 1999 (“GLBA”) provided for the creation of a National Association of Registered Agents and Brokers (NARAB), a nonprofit organization, to administer the licensing of insurance agents and brokers (referred to generically as...
|The NAIC Process for Developing and Maintaining the NAIC List of Qualified Jurisdictions for Certified Reinsurers|
Mayer Brown LLP;
December 2, 2014, previously published on November 11, 2014In 2011, the NAIC Credit for Reinsurance Model Law and Regulation were amended to reduce the collateral requirements for certain unauthorized reinsurers. Prior to the amendments, reinsurers that were not authorized or accredited in the cedant’s domiciliary jurisdiction were generally required...