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|It Says What It Says: Pre-Tender Defence Costs Should Not Be Covered under the Policy|
Anna Casemore, Avi Sharabi; Blaney McMurtry LLP;
November 14, 2016, previously published on October 24, 2016The British Columbia Court of Appeal has now set the record straight about pre-tender defence costs: If a policy expressly states that an insured must not incur expenses without the insurer’s consent, then the insured will not be entitled to reimbursement for any expenses that were incurred...
|Cybersecurity Certifications Now Required to Access Death Master File|
Wilson G. Barmeyer, Robert D. Owen, Phillip E. Stano, Steuart H. Thomsen, Mary Jane Wilson-Bilik; Sutherland Asbill & Brennan LLP;
November 14, 2016, previously published on November 10, 2016Tough cybersecurity certification requirements for parties seeking access to certain information in the Social Security Death Master File (DMF) take effect on November 28.
|What Happens Next after Cypress|
Martha N. Donovan, Margaret Raymond-Flood; Norris McLaughlin & Marcus, P.A. A Professional Corporation;
November 11, 2016, previously published on October 2016The New Jersey Supreme Court in Cypress Point Condominium Association, Inc. v. Adria Towers, LLC., et al. (A-13/14-15)(076348) finally put to rest (in New Jersey) an issue that has been haunting general contractors and developers since 1979. That is the year when Justice Clifford penned Weedo v....
|NAIC Life Actuarial (A) Task Force Approves Revisions to Actuarial Guideline 49 for Exposure and Comment|
Eric A. Arnold, Frederick R. Bellamy, Thomas E. Bisset, Dodie C. Kent, Clifford E. Kirsch; Sutherland Asbill & Brennan LLP;
October 27, 2016, previously published on October 27, 2016On October 20, the NAIC Life Actuarial (A) Task Force (LATF) of the Life Insurance and Annuities (A) Committee met and approved proposed revisions to Actuarial Guideline 49 (AG 49) for exposure and comment. If adopted, the proposed revisions would apply AG 49’s standards for determining the...
|IRS Provides Guidance on Reasonable Mortality Charges for Life Insurance Contracts Based on 2017 CSO Tables|
Dennis L. Allen, Thomas A. Gick, Michael R. Miles, Mary E. Monahan, William R. Pauls; Sutherland Asbill & Brennan LLP;
October 27, 2016, previously published on October 26, 2016On October 19, the Internal Revenue Service (IRS) issued an advance version of Notice 2016-63, addressing the “reasonable mortality charge” requirement under IRC §§ 7702 and 7702A for life insurance contracts based on the 2017 Commissioners’ Standard Ordinary (CSO)...
|Court Reverses Punitive Damage Verdict Against Insurer|
Jones Skelton Hochuli P.L.C.;
October 25, 2016, previously published on September 29, 2016A motorcyclist was injured when he slammed into a car that had stopped abruptly in front of him. Although the driver of the car was uninsured, the motorcyclist had uninsured motorist coverage. The motorcyclist’s insurer denied the claim, however, because it concluded the motorcyclist was...
|Canadian Bank Regulators Clarify Promotion of Comprehensive Credit Insurance in Bank Branches|
Jeffrey S. Graham, Jill E. McCutcheon, Kelly J. Morris, Samantha Tom; Borden Ladner Gervais LLP;
October 20, 2016, previously published on October 13, 2016The Canadian Office of the Superintendent of Financial Institutions ("OSFI") recently ruled that a bank cannot promote comprehensive credit insurance (“CCI”) within its Canadian branches under the Insurance Business (Banks and Bank Holdings Companies) Regulations (the...
|Weathering the Storm: Five Tips for Maximizing Insurance Recoveries for Hurricane Matthew Losses|
Edward M. (Ed) Joyce, Jason B. Lissy; Jones Day;
October 12, 2016, previously published on October 2016With Hurricane Matthew having pummeled certain islands in the Caribbean and much of the southeastern seaboard of the United States, businesses will soon look to secure insurance recoveries for the estimated billions of dollars in property damage and business income losses left in its wake. While...
|Third Circuit Affirms Summary Judgment for Nationwide in Bad Faith Case|
Charles E. Haddick, Bryon R. Kaster; Dickie, McCamey & Chilcote, P.C.;
October 11, 2016, previously published on October 6, 2016In Bodnar, et al. v. Nationwide Mutual Insurance Company, No. 15-3485 (3d Cir., October 4, 2016), the Plaintiffs alleged that Nationwide was guilty of bad faith in the investigation of whether or not the work-related death of an employee of its insured was covered or barred by the terms of the...
|Florida: Insurer Liable For Attorneys' Fees Without Finding of Bad Faith|
Charles E. Haddick; Dickie, McCamey & Chilcote, P.C.;
October 7, 2016, previously published on October 3, 2016The Supreme Court of Florida has ruled that Omega Insurance can be held liable for the payment of an insured’s attorneys’ fees following the wrongful denial of a sinkhole claim, and that bad faith is not a prerequisite to such an award, in Johnson v. Omega Insurance Company, SC14-2124.