News and Events for Attorneys and Executives

Tag: Insurance

5 Insurance Tips Before the Storm Hits

Insight
Dallas insurance litigator Meloney Perry of Perry Law P.C. offers some storm insurance tips to keep in mind before and after a storm hits.

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State Farm Ducks Racketeering Trial With $250 Million Accord

News
Policyholders had accused the company of leading an effort to recruit a judge friendly to its cause for the Illinois Supreme Court, Bloomberg reports.

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Negotiating Commercial Contracts – Insurance Words of Wisdom

Negotiating Commercial Contracts – Insurance Words of Wisdom

Insight
Many commercial contracts contain risk-transfer provisions, including indemnification and insurance requirements, according to SandRun Risk.

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Lawyer Who Tried to Bilk Insurance Companies Out of $300,000 Sentenced to Prison

News
The Tarrant County district attorney said that Richard Kent Livesay schemed to bill insurers for fraudulent hailstorm damage to roofs without the knowledge or consent of homeowners.

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Berkshire’s National Indemnity Ordered to Pay $43 Million for Asbestos Settlement

News
National Indemnity  provided general liability insurance to the state at the time of the alleged exposure, but it had argued those insurance policies didn’t cover the asbestos-related claims, according to MarketWatch.

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Harvey Weinstein’s Insurer Refuses to Pay for Legal Defense

Harvey Weinstein’s Insurer Refuses to Pay for Legal Defense

News
Chubb Indemnity Insurance Co. sued Weinstein on Wednesday, asking the New York Supreme Court for a declaration that it is not obliged to fund the disgraced producer’s legal defense, according to Variety.

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Keys to Negotiating Indemnity Agreements

Insight
It’s imperative that your company’s risk management and legal departments strategically manage indemnification and insurance obligations to minimize the always increasing cost-of-business demands, writes Buldas of Pietragallo Gordon Alfano Bosick & Raspanti L.L.P. in Pittsburgh.

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Federal Court Dismisses Insurer’s Claims Seeking Tens of Millions of Dollars in Damages

News
The lawsuit sought more than $40 million in damages for an alleged shortfall in reinsurance collateral and claims relating to the issuance of various workers’ compensation policies.

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Increasing Use of Cyber Insurance Requirements in Contracts

Insight
Insurance requirements are common in commercial contracts, and many contracts now include a sub-clause regarding cyber insurance, write Branwen Buckley and Corby J. Baumann of Thompson Hine.

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Under Contract Law, Court Says Retirees Have No Vested Right to Lifetime Benefits

Under Contract Law, Court Says Retirees Have No Vested Right to Lifetime Benefits

Article
Many companies that have previously deferred the modernization of their legacy benefits obligations may want to reevaluate the applicable agreements, as now may be the right time to press ahead with long-overdue changes.

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Remedies for the Rogue Arbitrator

White Paper
Most arbitrations run smoothly, the paper says, but “arbitrators should be ready for the exceptional case, which can be occasioned by another arbitrator or counsel.

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Insurance Requirements in Commercial Contracts (Part 2)

White Paper
Jonathan Reich of Womble Carlyle Sandridge & Rice LLP discusses the difference between an insurance policy with a deductible compared to one with a self insured retention and how that impacts business contracts.

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Antique Insurance Requirements Can Torpedo Your Contract

Article
The tendency to keep once-useful pieces in a contract can result having the equivalent of the human appendix: a piece no longer of any positive use and that harbors the potential for harm.

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Compliance and Cyber Security Competing Priorities for U.S. Insurers

White Paper
Insurers in the United States will face competing priorities for resources and time over the next 12 months, with cyber security preparedness challenging overall regulatory compliance readiness, argues Wolters Kluwer Financial Services and reported by Canadian Underwriter.

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