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HTMLU.S. House Subcommittee To Continue Review of International Regulatory Standards' Impact on U.S. Insurers' Competitiveness
Colodny Fass P.A.;
Legal Alert/Article
December 1, 2014, previously published on November 17, 2014
Federal Insurance Office Director Michael McRaith, along with Pennsylvania Insurance Commissioner Michael Consedine, U.S. Senator Neil Breslin (NY) and Federal Reserve Division of Banking Supervision and Regulation Senior Advisor Thomas Sullivan will be panelists tomorrow, November 18, 2014, at...

 

HTMLNAIC Group Solvency IssuesWorking Group to Revise the Model Holding Company Act to Add Provisions Regarding “Group-Wide Supervision of Internationally Active Insurance Groups”
Mayer Brown LLP;
Legal Alert/Article
November 28, 2014, previously published on November 11, 2014
At the NAIC Spring National Meeting inMarch 2014, the Group Solvency Issues (E) Working Group (“GSIWG”) was tasked with considering whether amendments should be made to address issues that have arisen since the adoption of the 2010 amendments to the Model Insurance Holding Company...

 

HTMLLegal Aspects of the Trial Period: Three Foreseeable Problems and Ways to Avoid Them
Julie I. Fershtman; Foster, Swift, Collins & Smith, P.C.;
Legal Alert/Article
November 28, 2014, previously published on October 17, 2014
"Try out my horse for few weeks. See if you get along with him." These were the words of a sincere, well-intentioned seller who only wanted a satisfied buyer. Could anything possibly go wrong with this trial period arrangement? Let’s explore three possible problems and ways to avoid...

 

HTMLThe High Standard for Inclusion of a Claim for Punitive Damages in Kansas
Noemi Donovan; Baker Sterchi Cowden & Rice, L.L.C.;
Legal Alert/Article
November 28, 2014, previously published on November 26, 2014
Successfully including a claim for punitive damages in a pleading is more difficult in Kansas than in other jurisdictions. A Kansas plaintiff cannot proceed with a claim for punitive damages without first applying to the trial court and requesting permission to amend a petition to include a claim...

 

HTMLLegal Aspects of an Exercise Rider Business
Julie I. Fershtman; Foster, Swift, Collins & Smith, P.C.;
Legal Alert/Article
November 28, 2014, previously published on October 1, 2014
In an effort to spend time with horses, while also raising cash, some people in the horse industry develop small businesses. We have received calls from people interested in establishing an exercise riding business where they visit people’s stables, saddle up designated horses, and work the...

 

HTMLPenn Mut. Life Ins. Co. v. Norma Espinosa 2007-1 Ins. Trust, — F.Supp.3d —, 2014 WL 4811879 (D. Del. Sept. 29, 2014)
James W. Semple; Morris James LLP;
Legal Alert/Article
November 27, 2014, previously published on October 22, 2014
This case involves a relatively new phenomenon called “stranger originated life insurance” schemes, or “STOLI” schemes, for short. In a STOLI scheme, an investor or investors seek to obtain a pecuniary interest in the life insurance policy on an individual with whom the...

 

HTMLBeazer Homes Corp. v. Selective Ins. Grp., Inc., 2014 WL 3955746 (D. Del. Aug. 8, 2014)
James W. Semple; Morris James LLP;
Legal Alert/Article
November 27, 2014, previously published on October 22, 2014
An employee of Defendant T.C. Electric Co. (“TC”) was injured at a development site of Beazer Homes Corp.’s (“Beazer”) and filed suit against Beazer. Beazer had been added as an “additional insured” to TC’s insurance policy issued by Defendant...

 

HTMLKnott v. LVNV Funding, LLC, C.A. No 453, 2013, 2014 WL 2873889 (Del. June 24, 2014)
James W. Semple; Morris James LLP;
Legal Alert/Article
November 27, 2014, previously published on October 1, 2014
Insurance companies and their insureds should be interested in the law of judgment creditors for obvious reasons: insureds sometimes have judgments entered against them, and insurers may be liable for them. In this case, the Delaware Supreme Court considered whether 10 Del. C. § 5072 or §...

 

HTMLMulrooney v. Life Ins. Co. of the S.W., 2014 WL 4407854 (Del. Super. Ct. Sept. 3, 2014)
James W. Semple; Morris James LLP;
Legal Alert/Article
November 27, 2014, previously published on October 22, 2014
In Mulrooney v. Life Insurance Co. of the Southwest, the Delaware Superior Court reaffirmed the notion that a party may be bound by misrepresentations in an insurance application, if the misrepresentation is attributable to the applicant. In Mulrooney, Plaintiff Holly Mulrooney...

 

HTMLYou Get What You Pay For: Title Insurers Need Only Defend Claims Explicitly Covered in Policy
Aaron J. Aisen, Marc W. Brown; Goldberg Segalla LLP;
Legal Alert/Article
November 26, 2014, previously published on November 19, 2014
On November 13, the Seventh Circuit Court of Appeals decided in a case of first impression that the “complete defense” rule does not apply to title insurers and overturned the Northern District of Illinois’s ruling in Philadelphia Indemnity Ins. Co. v. Chicago Title Ins. Co. that...

 


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