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HTMLFinancial Accounting Standards Board Issues Update on Short-Duration Insurance Disclosures
Colodny Fass P.A.;
Legal Alert/Article
May 27, 2015, previously published on May 22, 2015
The Financial Accounting Standards Board ("FASB") issued an Accounting Standards Update ("ASU") yesterday, May 21, 2015, that is intended to make targeted improvements to disclosure requirements for insurance companies that issue short-duration contracts--defined as those in...


HTMLCommercial Title Insurance - Do You Really Need it?
Houser Henry Syron LLP;
Legal Alert/Article
May 26, 2015
Would you buy a used car without checking its condition or receiving some warranty from the dealer? Why then would you buy real estate or a commercial or industrial building without checking its condition and title thoroughly and buying insurance against unregistered or hard to verify claims...


HTMLRecent Data Breach Insurance Coverage Decision: Court Holds Insurer Not Obligated to Cover Damages from Lost Tapes Containing Personal Information When No Evidence Tapes Were Read
Sutherland Asbill Brennan LLP;
Legal Alert/Article
May 25, 2015, previously published on May 22, 2015
The Connecticut Supreme Court recently issued an opinion confirming that a Commercial General Liability (CGL) policy’s personal or advertising injury coverage did not provide coverage for damages resulting from lost data storage tapes where the tapes contained personal identifying...


HTMLCoverage Disputes Between Pip Carriers Subject To Arbitration
Capehart Scatchard P.A.;
Legal Alert/Article
May 25, 2015, previously published on May 19, 2015
In New Jersey, it is statutorily mandated that disputes between insurance companies over contribution for personal injury protection (“PIP”) benefits be arbitrated. What happens, however, where coverage between those carriers is disputed and must be resolved? Who decides, the courts or...


HTMLMajor Florida Insurance Legislation Dies Amid 2015 Legislative Session Meltdown
Colodny Fass P.A.;
Legal Alert/Article
May 25, 2015, previously published on May 13, 2015
Major insurance issues like bad faith reform, assignment of benefits and transportation network company-related coverage were among the casualties of Florida's 2015 Regular Legislative Session.


HTMLPrice Optimization Is Unfairly Discriminatory, Florida Office of Insurance Regulation Cautions Florida Property and Casualty Insurers
Colodny Fass P.A.;
Legal Alert/Article
May 25, 2015, previously published on May 14, 2015
Insurers' use of price optimization to determine premiums can result in rates that are unfairly discriminatory--a violation of Sections 627.062 and 627.0651--Florida Insurance Commissioner Kevin McCarty explained to authorized Florida property and casualty insurers in Informational Memorandum...


HTMLCNA Denies Cyber Insurance Claim
Mintz Levin Cohn Ferris Glovsky Popeo P.C.;
Legal Alert/Article
May 22, 2015, previously published on May 19, 2015
Cyber security, and cyber insurance, have dominated the industry headlines for several years now, but even as companies, brokers and insurers work to develop these products, there has been a dearth of case law interpreting key provisions. This is beginning to change as disputes arise and make...


HTMLInsurance Changes in Ontario Budget
Ana Badour, Nancy J. Carroll; McCarthy Tetrault LLP;
Legal Alert/Article
May 21, 2015, previously published on April 27, 2015
The Government of Ontario announced in the 2015 budget that it intends to amend the Insurance Act and its regulations as follows.


HTMLAre You Covered? Managing Risk with Commercial General Liability and Builder¿s Risk Insurance
Christopher Markus; Dressman Benzinger LaVelle psc;
Legal Alert/Article
May 21, 2015
Although markedly different in purpose and nature, commercial general liability (CGL) and builder¿s risk insurance products are both critical for construction professionals concerned with managing risk.


HTMLFlorida Office of Insurance Regulation Issues Guidance to HMOs on Financial Solvency Reporting Requirements
G. Donovan Brown; Colodny Fass, P.A.;
Legal Alert/Article
May 20, 2015, previously published on May 18, 2015
Issued May 15, 2015 by the Florida Office of Insurance Regulation ("OIR"), Informational Memorandum OIR-15-05M provides guidance on financial solvency reporting requirements to all Health Maintenance Organizations ("HMOs") operating in Florida that are required to file financial...


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