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TODAY'S TOP DEVELOPMENTS Friday, October 16, 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.


Exclusion Barred Coverage for Madoff Losses, N.Y. Appeals Court Rules
An appellate court in New York, reversing a trial court's decision, has ruled that exclusion x in financial institution bonds barred coverage of losses suffered in the Madoff Ponzi scheme. Read More

Automobile Insurance
Louisiana Supreme: Collateral Source Rule Does Not Include Attorney-Negotiated Medical Discounts Obtained in Litigation
The Louisiana Supreme Court has adopted a "bright-line rule" that medical discounts negotiated by a plaintiff's attorney do "not fall within the ambit of the collateral source rule." Read More

Environmental Liability
Mold: Excluded, Mostly, Louisiana District Court Decides
A federal district court in Louisiana has granted partial summary judgment in favor of an insurer as to mold claims and an insurance policy's mold exclusion – but not with respect to mold claims in one particular room in the insured building where, the court said, factual questions related to the cause of the mold in that room could be "better developed at trial." Read More

No Coverage for Investment Earnings Lost through Advisors' Fraud, District Court Holds
The U.S. District Court for the District of Minnesota has ruled that a crime policy did not cover returns that the insured asserted it had earned on certain of its investments but had lost through the fraud of its investment advisors, concluding that the insured had not "owned" those earnings. Read More

View All Case Law Developments

Superstorm Sandy

FEMA Seeks to Recover More than $14 Million Paid to Superstorm Sandy Claimants
The Federal Emergency Management Agency is seeking to recover $14 million in Superstorm Sandy grant money from 2,000 New York claimants it says were not entitled to the payments. Read More

In the States
Delaware Joins Anti-Price Optimization Bandwagon
Now, the Delaware Insurance Department is warning property and casualty insurers writing personal lines policies in Delaware against using price optimization. Read More

View All Legislative/Regulatory Developments
One in Four Americans Has Been the Victim of a Data Breach or Cyber Attack, Travelers Reports Read More

Health Care Costs for Retired Couples Rise to an Estimated $245,000, Fidelity Research Shows 
Read More

Insurance Litigator James Fitzgerald Joins Akin Gump from Stroock 
Read More

Former Gardere Insurance Coverage Attorneys Stephen Moll and Jim Cooper join Reed Smith as Partners in Houston 
Read More

FC&S Legal Publishes "2015 Excess and Surplus Lines Laws: Delaware" 
Read More

View All Industry News
Diminution in Value under GKLL


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

View Entire Septmeber/October Insurance Coverage Law Report
View Insurance Coverage Law Report Archives
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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