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TODAY'S TOP DEVELOPMENTS Wednesday, May 6, 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
All Defendants in Bad Faith/Legal Malpractice Case Must File Answer Before Court May Consider Opposition to Motion to Transfer Venue, California Appeals Court Holds
An appellate court in California has ruled that, in a multi-defendant case, an answer must be filed by all defendants before the trial court may consider opposition to a motion to transfer venue. Read More


Seventh Circuit Affirms Decision in FDIC's Favor on Financial Institution Bond Issued to Failed Bank
The U.S. Court of Appeals for the Seventh Circuit, affirming a district court's decision, has ruled that the Federal Deposit Insurance Corporation, as receiver of a failed bank, could enforce a financial institution bond issued to the failed bank to cover losses allegedly arising from a forgery. Read More

Title Insurance
11th Circuit: Standard Purchase and Assumption Agreement Reserved Causes of Action against Title Insurer to FDIC, Not Failed Bank's Successor
The U.S. Court of Appeals for the Eleventh Circuit has ruled that the standard "Purchase and Assumption Agreement" pursuant to which the Federal Deposit Insurance Corporation sold a failed bank's assets and liabilities to a successor bank reserved to the FDIC the right to sue a title insurance company for an allegedly actionable event that occurred before the bank failed. Read More

Commercial Property
Protective Safeguard Endorsement Related Only to Fire Loss and Did Not Bar Claim for Water Damage, N.Y. Appeals Court Rules
An appellate court in New York has reversed a trial court's decision denying an insured's motion for summary judgment on the issue of liability - as well as a judgment upon a jury verdict in favor of the insurer that dismissed the insured's complaint. Read More

View All Case Law Developments

In the States

Florida's Citizens Property Insurance Providing Free Credit Monitoring after Privacy Breach
Florida's Citizens Property Insurance Corporation has said it will provide free credit monitoring for one year to about 20,000 policyholders after their policy information and some personally identifiable information on declaration pages was mailed to the wrong address. Read More

Federal Actions

Senators Propose Legislation on International Insurance Issues
U.S. Senators Dean Heller (R-NV) and Jon Tester (D-MT), both members of the Senate Banking, Housing, & Urban Affairs Committee, have introduced the International Insurance Capital Standards Accountability Act. Read More

View All Legislative/Regulatory Developments
PartnerRe Rejects EXOR Takeover Bid, Reaffirms Commitment to Merge with AXIS Capital Read More

Kemper Acquires Alliance United Group for $70 Million in Cash 
Read More

XL Group plc Completes Catlin Group Limited Acquisition Read More

Mazanec, Raskin & Ryder's Joseph F. Nicholas, Jr., Is Appointed Your House Counsel's First Group Chair 
Read More

Lewis Roca Rothgerber Launches Unmanned Aircraft Systems Industry Team Read More

View All Industry News
ISO Form
CM 00 67 01 13 Valuable Papers and Records Coverage Form


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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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