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TODAY'S TOP DEVELOPMENTS Wednesday, January 8, 2014

Industry news, expert analysis, and daily updates on the most significant insurance coverage legal developments—from the insurance and legal experts of The National Underwriter Company.


Commercial Property
Court Rejects Coverage and Bad Faith Claims in Dispute over Basement Generator Flooded by Superstorm Sandy
A federal district court in New York has ruled that coverage was not available for a generator located in the basement of a building that was flooded by Superstorm Sandy where the policy covered only a specified location, identified as the 33rd floor of the building. The district court also dismissed the insured's bad faith claim against the insurer, explaining that New York law did not recognize it and that bad faith could not be shown when the insurer had arguable support for a denial, as the insurer did here. Read More

Homeowners Insurance

Homeowner Loses Bid to Exempt Earmarked Insurance Proceeds from Her Bankruptcy Estate
A bankruptcy court in Massachusetts has rejected a homeowner's efforts to exempt from her bankruptcy estate insurance proceeds that she said she had earmarked to replace personal property that she contended she could claim as exempt under applicable Massachusetts law. Read More

Workers Compensation
Statute of Limitations Dooms Claim that Employer Failed to Maintain Workers' Compensation Insurance
The U.S. Court of Appeals for the Eighth Circuit has affirmed a district court's decision that a five year statute of limitations barred a lawsuit against a company alleging that it negligently had failed to maintain workers' compensation insurance coverage.  Read More

Personal Umbrella
Court Rejects "Mere Teenage Horseplay" and "Too Intoxicated to Intend Harm" Arguments, Finding No Coverage
A federal district court in Minnesota has ruled that allegations that a teenage driver drank heavily, drove at high speeds on residential streets, and fled from the police were sufficient to allow it to determine that there was no coverage under an umbrella insurance policy issued to the teenager's father based on the policy's occurrence/intentional act provisions. Read More

View All Case Law Developments

In the States

The State of Insurance in One State: What's Happening in Florida
The Florida Office of Insurance Regulation has issued a report on the state's insurance market that contains a wealth of interesting information. Read More

Alternative Risk and Captives

North Carolina Issues First Captive Insurance Company Licenses
The North Carolina Department of Insurance has issued four captive insurance company licenses since the state's Captive Insurance Act went into effect in late October 2013. Read More

View All Legislative/Regulatory Developments
Professional Liability Insurance Attorney Kimberly A. Ashmore Elected Partner at Wiley Rein Read More

Oregon Insurance Agent Interrupts Suspected Financial Elder Abuse
Read More

Tower Group International to Merge With ACP Re
Read More

Self-Driving Cars Are Coming, and Auto Accidents Will Virtually Disappear, Analyst Contends
Read More

USA Business Insurance Launches New Commercial Insurance Policy for Lawn Care Service Professionals
Read More

View All Industry News

Depreciation as a Recurring Expense


Browse our entire library of over 2,500 insurance resources and forms.

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60px_newMeyerowitz Steven A. Meyerowitz, ESQ.
Director, FC&S Legal
[email protected]
60px_newSpears Victoria Prussen Spears, ESQ.
Associate Director, FC&S Legal
[email protected]
FC&S Legal Editorial Advisory Board
Mitchell J. Auslander, Willkie Farr & Gallagher LLP
Carrie Cope, Schuyler, Roche & Crisham, P.C.
Anjali C. Das, Wilson Elser
John F. Finnegan, Chadbourne & Parke LLP
Michele L. Jacobson, Stroock & Stroock & Lavan LLP
Timothy P. Law, Reed Smith LLP
Donald S. Malecki, Malecki, Deimling, Nielander &
Associates, LLC
Cort T. Malone, Anderson Kill & Olick, P.C.
D. Milone, Kelley Drye & Warren LLP
Joseph P. Monteleone, Tressler LLP
Anne M. Murray, Rivkin Radler LLP
Jerold Oshinsky, Kasowitz, Benson, Torres &
Friedman LLP
Seth B. Schafler, Proskauer Rose LLP
David D. Thamann, The National Underwriter Company

FC&S Daily Legal Report ($1,295 annual subscription) is included as part of your subscription to FC&S Legal: The Insurance Information Center. FC&S Daily Legal Report and The Insurance Coverage Law Report are publications of The National Underwriter Company. For more information, visit To subscribe to FC&S Legal, please contact customer service at 1-800-543-0874 or [email protected].

FC&S Legal: The Insurance Coverage Law Information Center

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