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TODAY'S TOP DEVELOPMENTS Friday, April 8, 2016  

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.


Professional Liability Insurance
7th Circuit Rejects Law Firm's Bid for Coverage of Arbitration Award
The U.S. Court of Appeals for the Seventh Circuit, affirming a decision by the U.S. District Court for the Northern District of Illinois, has ruled that a "legal fees" exclusion in a professional liability insurance policy — but not the "sanctions" exclusion — precluded coverage for an arbitration award against the firm.  Read More

Attorney's Fees
Alaska Supreme: Insurers May Not Recover Fees Incurred in Defending Claims Under Reservations of Rights
The Alaska Supreme Court has issued an opinion, in response to questions certified by the U.S. Court of Appeals for the Ninth Circuit, prohibiting insurance companies from recovering fees incurred in defending claims under reservations of rights.  Read More

Commercial General Liability
Asbestos: Holding Company Did Not Have Standing to Participate in Declaratory Relief Action, California Appeals Court Affirms
An appellate court in California, affirming a trial court's decision in a declaratory judgment action involving asbestos claims, has ruled that a holding company that was not a party to the insurance policies at issue did not have standing to participate in the action.  Read More

Directors & Officers
"Securities Laws" Exclusion in D&O Policy Was Ambiguous, Illinois Appeals Court Rules in Tribune LBO Coverage Fight
An appellate court in Illinois, reversing a trial court's decision, has ruled that the "Securities Laws" exclusion in a directors and officers insurance policy was ambiguous and did not preclude coverage for lawsuits against former shareholders of the Tribune Company arising from a leveraged buyout.  Read More

View All Case Law Developments

Federal Actions

District Court Reverses FSOC's Designation of MetLife
The U.S. District Court for the District of Columbia has rescinded the decision by the Financial Stability Oversight Council designating MetLife, Inc., as a systemically important financial institution.  Read More

Health Insurance
OIG Report Finds That Hospices Inappropriately Billed Medicare Over $250 Million for General Inpatient Care
The Office of Inspector General for the U.S. Department of Health and Human Services has issued a report finding a "number of instances" in which hospices inappropriately billed Medicare for hospice general inpatient care.  Read More

View All Legislative/Regulatory Developments
Long Term Decline in Shipping Losses Continues but Economic Pressures, Cyber Risk, and Superstorms Challenge Safety Progress, Allianz Finds   Read More

Booming Cyber Insurance Market Must Overcome Hurdles, Bipartisan Policy Center Report Finds   
Read More

Reinsurers Report 92.5 Percent Average Combined Ratio in the Decade Since Hurricane Katrina, Aon Reports   
Read More

Texas Had Record Number of Tornadoes in 2015, According to Insurance Council of Texas   
Read More

FC&S Legal Publishes "New York Rescission Law Strikes Again: Lessons Learned from the Voiding of Heinz's Product Contamination Insurance Policy"   
Read More

View All Industry News
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60px_newMeyerowitz Steven A. Meyerowitz, ESQ.
Director, FC&S Legal
60px_newSpears Victoria Prussen Spears, ESQ.
Associate Director, FC&S Legal
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
Cort T. Malone, Anderson Kill, P.C.
Richard D. Milone, Kelley Drye & Warren LLP
Joseph P. Monteleone, Rivkin Radler LLP
Anne M. Murray, Rivkin Radler LLP
Jerold Oshinsky, Kasowitz, Benson, Torres & Friedman LLP
Seth B. Schafler, Proskauer Rose LLP
Thomas F. Segalla, Goldberg Segalla
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

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