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TODAY'S TOP DEVELOPMENTS Monday, April 20, 2015

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
"Application Exclusion" Barred Coverage by Professional Liability Policy of Undisclosed Claims that Arose Out of Ponzi Scheme, California Appeals Court Decides
An appellate court in California, affirming a trial court's decision, has ruled that an exclusion in an application for a professional liability insurance policy issued to a securities firm barred coverage of three undisclosed claims against the firm based on real estate investments the firm's broker-dealers had recommended that arose out of the same Ponzi scheme as a claim that the firm had disclosed in its application. Read More

Professional Liability Insurance

Claim Made During Extended Reporting Period Was Not Covered by Claims-Made-and-Reported Professional Errors and Omissions Policy, Montana District Court Says
A federal district court in Montana, interpreting a claims-made-and-reported professional errors and omissions policy, has ruled that a claim against the insured was made when the insured became aware of the lawsuit against it, not when the suit initially was filed, and, therefore, was not covered by the policy because it was within the extended reported period following expiration of the policy. Read More

Employee Benefits
Payments from Private Disability Insurance Policy Were Subject to Garnishment by Federal Government, Seventh Circuit Holds
The U.S. Court of Appeals for the Seventh Circuit has ruled that the federal government had the power to garnish monthly payments from a disability insurance policy privately purchased by a dentist who had been ordered, as part of guilty plea to mail fraud, to pay restitution to victims of his fraudulent billing scheme. Read More

A Tree. A Rope. A Pickup Truck. A Blazer. And, an Injured Motorcyclist. Is There Coverage?
After a man left his insured pickup truck in the middle of the street tied to a tree that he wanted to pull down, a motorcyclist who swerved to miss the rope struck the man's uninsured Chevy Blazer, which the man had just moved out of the tree's path. A recent decision by an appellate court in Minnesota explored where, if anywhere, the man could turn for coverage. Read More

View All Case Law Developments

Superstorm Sandy

Question About Payment of Insureds' Attorneys' Fees Upends FEMA-Brokered Superstorm Sandy Settlements
A dispute over whether homeowners litigating Superstorm Sandy claims also may recover their attorneys' fees, or whether those fees must be paid from their insurance payments, has upended the tentative settlement of those actions that had been brokered by the Federal Emergency Management Agency. Read More

In the States

Dan Judson Expected to Be Named Massachusetts Insurance Commissioner
Massachusetts Governor Charlie Baker is expected to appoint Daniel Judson, the current president of Commonwealth Automobile Reinsurers, as the next Commissioner of Insurance. Read More

View All Legislative/Regulatory Developments
Peter Maloney Joins Insurance Practice of Hinshaw & Culbertson in New York Read More

Prudential Group Offers New Accident Insurance Product 
Read More

Allied World Appoints Jonathan Evans to Non-Executive Chairman of Lloyd's Managing Agency Read More

MEMIC Announces Senior Underwriting Promotions 
Read More

Ironshore Global Property Raises Capacity Limits to $35 Million for Energy Sector Read More

View All Industry News
Electronic Fund Transfer Coverage Dispute


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

View Entire March / April Insurance Coverage Law Report
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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

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