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Category: Regulatory / Legal

Regulatory / Legal


Regulatory / Legal

WV High Court: Liability Coverage Due for Latent Disease, Even Years after Policy Dates

November 13, 2023

Via: Insurance Journal

Liability insurers that write in West Virginia and beyond received some unsettling and expensive news from the state Supreme Court last week: Without iron-clad policy language barring coverage, long-tail illness claims must be covered and a carrier has a duty […]


Regulatory / Legal

Vesttoo says value can be recovered as it & creditors object to US Trustee move

November 8, 2023

Via: Artemis BM

Vesttoo is now insisting that there is value recoverable in some reinsurance transactions that were “bona fide”, while at the same time both Vesttoo as the debtor and the creditor committee in the Chapter 11 bankruptcy case, have objected to […]


Regulatory / Legal

Deadline for More Enhanced Hurricane Idalia Claims Data is Nov. 16

November 7, 2023

Via: Insurance Journal

The Florida Office of Insurance Regulation wants property insurers to remember that another deadline for enhanced catastrophe reporting on Hurricane Idalia claims is Nov. 16. The OIR is required by law to collect a range of data on hurricane claims. […]


Regulatory / Legal

Nike Sues New Balance, Skechers for Patent Infringement Over Sneaker Tech

November 7, 2023

Via: Insurance Journal

Footwear giant Nike filed federal lawsuits on Monday against rivals New Balance and Skechers, accusing them of infringing patents related to Nike’s technology for making upper portions of sneakers. The lawsuits said that several New Balance athletic shoes and Skechers […]


Regulatory / Legal

Non-renewal, Cancellation, Reformation and Rescission of Insurance Policies in Texas

November 6, 2023

Via: JD Supra

The Texas Legislature this year adopted House Bill 1900, which amends the notice requirements for non-renewal and policy changes in Texas Insurance Code Section 551.105. The statutory changes, effective Sept. 1, increase the notice period from 30 days to 60 […]


Regulatory / Legal

Ohio Law Applies in Insurance Dispute over Superfund Remediation Costs, Court Rules

November 3, 2023

Via: Insurance Journal

Ohio law must be used to resolve an insurance dispute involving a polluted site in Michigan caused by manufacturing companies based in Ohio and Indiana, the Ohio Supreme Court ruled Wednesday. The 5-2 decision may force Travelers to turn over […]


Regulatory / Legal

Consumer group highlights “loopholes” in California’s insurance reforms

November 3, 2023

Via: Insurance Business

A consumer advocacy group in California has claimed that a rule introduced by insurance commissioner Ricardo Lara lacks substantial consumer benefits and is marred by “loopholes.” The rule, which is part of a larger reform package set to be implemented […]


Regulatory / Legal

Harvard Claims Marsh Is to Blame for Its Loss of $15M in Coverage for Admissions Fight

November 2, 2023

Via: Insurance Journal

Having lost two bids to recover $15 million from its insurer to cover costs related to its failed defense of its admissions policy, Harvard University is now looking to hold its insurance broker, Marsh, responsible. Harvard’s excess insurer Zurich American […]


Regulatory / Legal

China Eases Investment Rules for Insurers in Bid to Boost Flows Into Stocks

November 1, 2023

Via: Insurance Journal

China has taken a move that effectively allows insurance firms to make longer-term investment in shares, adding to a drumbeat of support measures to revitalize the country’s stock market. The Ministry of Finance will from now on evaluate insurers’ return […]


Regulatory / Legal

Liberty Mutual agrees to repay over $7 million to Minnesota policyholders

October 30, 2023

Via: Insurance Business

Liberty Mutual has agreed to pay around $7.7 million to over 86,000 policyholders for auto and homeowner insurance policies as part of a consent order with the Minnesota Department of Commerce. The order was issued after the insurer was investigated […]


Regulatory / Legal

Federal Court Dismisses Portions of Plaintiff’s Claims Against Insurer for Failing to Pay UIM Benefits

October 30, 2023

Via: JD Supra

The plaintiff was involved in a motor vehicle accident and claims to have sustained serious personal injuries. The plaintiff had $600,000 in underinsured/uninsured motorist coverage with his insurer. The plaintiff settled his primary underinsured claim and the third-party bodily injury […]


Regulatory / Legal

Regulatory Changes Underway To Address Dwindling California Property Insurance Market

October 30, 2023

Via: JD Supra

We keep hearing about how difficult it is for our clients to get property insurance these days, both for homes and businesses in Northern California’s wildfire-prone areas. Which, of course, is most of Northern California. Those who have not yet […]


Regulatory / Legal

Four Miami Agents Charged with Getting Commissions on Falsified Life Insurance Policies

October 24, 2023

Via: Insurance Journal

Four Miami insurance agents have been charged with submitting false life insurance applications and collecting commissions from John Hancock Life Insurance Co., state officials said Monday. Alexander Faneites, Nicolas Giraldo Gutierrez, Yuriatsi Carrasco and Yanet Hernandez Suarez gained about $38,000 […]


Regulatory / Legal

Insurance claims adjuster sentenced to prison time

October 23, 2023

Via: Insurance Business

A Raleigh man has been sentenced to more than one year of prison time after pleading guilty to accusations of wire fraud and money laundering. Apart from prison time, Massey was also ordered to complete three years of supervised release […]


Regulatory / Legal

Ohio Supreme Court Upholds Escape Clause in Progressive Auto Liability Policy

October 23, 2023

Via: Insurance Journal

Acuity and Progressive Specialty Insurance Co. disputed who should pay after a 16-year-old boy borrowed a friend’s car and crashed it into a utility pole in Streetsboro, Ohio. The driver was insured by Acuity through a policy issued to his […]


Regulatory / Legal

Tennessee DCI Mediation Process Results in Record $13 Million to Insureds

October 18, 2023

Via: Insurance Journal

Tennessee’s Department of Commerce and Insurance has mediated more than 3,000 complaints against insurers so far this year, resulting in a record $13 million awarded to insureds, the department said this week. “This amount represents the largest amount of money […]


Regulatory / Legal

National Flood Insurance Program: 2023 Refresher and Updates

October 18, 2023

Via: JD Supra

As we enter the last quarter of a year that saw historic flooding across the country, including most recently in New York City, it is a good time to review the National Flood Insurance Program (NFIP) and highlight a few […]


Regulatory / Legal

Will Amendment to Rule 702 Affect Property Insurance Coverage Litigation?

October 16, 2023

Via: JD Supra

In most property insurance coverage litigation, the parties engage experts to elucidate the issues in the case. This is particularly true when there are multiple causes of loss, covered and not covered, that combine to cause the damage claimed. In […]


Regulatory / Legal

Consumer Watchdog files petition against Mercury for discrimination, price gouging

October 13, 2023

Via: Insurance Business

Consumer Watchdog filed a petition to intervene in an enforcement action initiated by the California Department of Insurance (CDI) against Mercury Insurance Group. The allegations revolve around accusations of overcharging, misleading practices, and discrimination against California homeowners and motorists. Consumer […]


Regulatory / Legal

Bank of England to develop new lending tool for insurers

October 3, 2023

Via: Reinsurance News

The Bank of England (BoE) is planning to develop a new lending tool for insurers, and other non-bank financial institutions like pension funds, to provide access to emergency cash during times of market stress. This new tool is to be […]