Federal Reserve Takes Steps on Capital Standards for Nonbank SIFIs
The passage of the Dodd-Frank Act led to an increased role for federal financial regulators in regulating insurance companies. While insurance companies are still primarily regulated at the state leveFormer FIFA Executive Entitled to Criminal Defense Costs in Bribery Case; D&O Insurers Required to Pay
Eduardo Li, one defendant of a widespread racketeering and fraud prosecution against FIFA and its members, brought this case seeking a declaration his insurers have to pay and advance his criminal defFederal Judge Overturns MetLife’s SIFI Designation
In a first-of-its-kind decision, U.S. District Judge Rosemary M. Collyer of the U.S. District Court for the District of Columbia granted MetLife’s motion to remove the non-bank SIFI designationFailure to Answer Question on Application for Insurance Truthfully Held to be Grounds for Rescission
Policyholders have an affirmative duty to read the questions asked on an insurance application carefully and will be bound by the answers provided. So stated the United States District Court of the DiFailure to Answer Question on Application for Insurance Truthfully Held to be Grounds for Rescission
Policyholders have an affirmative duty to read the questions asked on an insurance application carefully and will be bound by the answers provided. So stated the United States District Court of the DiFeels like a Fraud: Fifth Circuit Rules in Favor of Insurer; Awards $6M in Fraudulent Claims Case
In Allstate Insurance Company et al. v. Michael Kent Plambeck, DC, et al. United States Court of Appeals for the Fifth Circuit, September 17, 2015, an insurer was awarded a $6 million verdict againstFederal Cyber Legislation – Hurry Up and Wait
In recent months, two more companies in the healthcare industry have been hacked. UCLA Health announced on July 17, 2015 that it was the victim of a “criminal cyber attack†and “as mFSOC Replies to MetLife Lawsuit Challenging Nonbank SIFI Status
In early 2015, MetLife filed a lawsuit challenging its designation as a nonbank systemically important financial institution (nonbank SIFI). On May 11, 2015, the Financial Stability Oversight CouncilFlorida Court of Appeals Permits Post-Loss Assignment of Benefits to Third Party
In Accident Cleaners, Inc. v. Universal Insurance Co., 2015 SL 1609973 (Fla. Ct.App. April 10, 2015) the Florida Court of Appeals, Fifth District held the assignee of benefits under an insurance policFourth Circuit Finds “Pill Mill†Action Alleges “Occurrenceâ€
In Liberty Mutual Fire Insurance Co. v. J.M. Smith Corp., 2015 U.S. App. LEXIS 3989 (4th Cir. Mar. 13, 2015), the U.S. Court of Appeals for the Fourth Circuit affirmed that Liberty Mutual was requiredFifth Circuit Finds No “Personal Injury†or “Advertising Injury†in Trade Secret Misappropriation Suit
In Nationwide Mutual Insurance Co. v. Gum Tree Property Management, LLC, No. 14-60302, 2015 U.S. App. LEXIS 595 (5th Cir. Jan. 14, 2015), the Fifth Circuit affirmed the district court’s grant oFailure To Plead That Excess Liability Policies Were Implicated Leads To Dismissal Of Third Party DJ Complaint
In this declaratory judgment action, the court held that defendants Travelers Indemnity Company and Travelers Casualty and Surety Company (Travelers) had a duty to defend its insured Chicago PFederal Insurance Office Issues Reinsurance Report
Among other provisions, Title V of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) authorizes the Federal Insurance Office (the FIO) to monitor all aspects of the insuranceFlorida Court Refuses To Enforce Employment Related Practices Exclusion Against Defamation Claim Under Coverage B
In Khatib v. Old Dominion Insurance Co., 2014 Fla. App. LEXIS 19843 (Fla. DCA 1st Dist. Dec. 5, 2014), the Florida Court of Appeal held that Old Dominion Insurance Company (Old Dominion) did not haveFifth Circuit: Claimant Must Wait for Actual Claim Denial to File Suit
In an unpublished opinion, the Fifth Circuit affirmed the dismissal of a class action suit that alleged the claim administrator, wrongfully denied payment of medical claims “immediately,”Fifth Circuit Rejects Argument That Total Pollution Exclusion Creates Illusory Coverage
The Fifth Circuit affirmed the district court’s grant of summary judgment in favor of Liberty Mutual, finding that Liberty Mutual had no duty to defend or indemnify Linn Energy in connection wiFederal Courts Again Unwilling To Hear TCPA Disputes
Less than two weeks after the Sixth Circuit used the anti-aggregation rule to dismiss a TCPA coverage action on grounds that it failed to satisfy the amount in controversy requirement, for purposes ofFlorida Court Finds Underlying Tort Claimants Are Not Necessary Parties to DJ Action In Priority of Coverage Dispute
The plaintiff, Northern Assurance Company of America, sought a declaration as to the priority of coverage between its policy and that of the defendant, Auto-Owners, with respect to the underlying actiFirst Circuit: Statute Of Limitations Does Not Apply Separately For Each LTD Benefit Payment
In a recent ERISA disability benefits case, the First Circuit answered the following questions involving a claim for the underpayment of monthly benefits: 1) when does the underpayment claim accrue?;Meet The Experts
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