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TODAY'S TOP DEVELOPMENTS Wednesday, July 22, 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.


Life Insurance
Handwritten Note Near Dead Man's Body Did Not Change His Life Insurance Beneficiary, Eighth Circuit Holds
The U.S. Court of Appeals for the Eighth Circuit, applying Iowa law and affirming a district court's decision, has ruled that a handwritten note, found near the insured's dead body, was insufficient to effect a change to the beneficiary of his life insurance policy. Read More

Automobile Insurance

Insurer's Offer of Policy Limits Contingent on Release of Insured Could Not Serve as Basis for Third-Party Bad Faith Action, Kentucky Federal Court Holds
A federal district court in Kentucky has rejected a third-party bad faith action against an automobile insurer under the Kentucky Unfair Claims Settlement Practices Act, concluding that it was not bad faith for the insurer to offer to pay policy limits contingent on the third party's release of claims against the insured. Read More

Commercial General Liability
Sixth Circuit Affirms Dismissal of Third-Party Bad Faith Action against Insurance Broker
The U.S. Court of Appeals for the Third Circuit has affirmed a decision by the U.S. District Court for the Eastern District of Michigan dismissing a third-party bad faith action against an insurance broker for failure to procure the proper liability insurance, finding that the broker had no duty to the third party and that the third party was not an intended third-party beneficiary of the contract between the broker and the insured. Read More

Eye on the Experts
Eleventh Circuit Denies Coverage for Wrongful Acts of Directors and Officers that Arose Out of Their Allegedly Wrongful Acts as Trustees, an Uninsured Capacity
This Eye on the Experts article explains a recent decision by the U.S. Court of Appeals for the Eleventh Circuit, which ruled for the insurer on a "capacity" exclusion in a director and officer policy that precluded coverage for loss in connection with a claim "arising out of" or "based upon" any act of an individual insured in an uninsured capacity. Read More

View All Case Law Developments


Bermuda Registers Three Class 4 Insurers During the First Half of 2015
The Bermuda Monetary Authority registered 45 new insurers and intermediaries during the first half of the year. This is on par with the 44 registrations recorded during the same period in 2014, the Authority said. Read More

Insurance Fraud
Investment Executive Sentenced to 21 Months in Prison for Multimillion-Dollar Insurance Fraud
Allen Reichman, a former executive director of investments at Oppenheimer & Co. Inc., has been sentenced to 21 months in prison and $10 million in restitution for defrauding his employer in connection with the fraudulent purchase of an Oklahoma-based insurance company. Read More

View All Legislative/Regulatory Developments
FC&S Legal Publishes "Washington Supreme Court Addresses the Meaning of 'Collapse'" Read More

Gene Gilbertson Appointed President and CEO of Legal & General America 
Read More

Heritage Insurance Seeks to Expand into Four New States Read More

Liberty Mutual Appoints Dan Feige Division Underwriting Manager for Inland Marine 
Read More

AIG Launches Design and Construction Phase Risk Mitigation Service for Luxury Homes Read More

View All Industry News
Timely Notice Requirement


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

View Entire July/August 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

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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