The escalating threat of floods in the UK is becoming a significant concern, with profound implications for the financial stability of the housing market and the banking system that supports it. Although the UK currently mitigates this risk through a collective insurance program known as Flood Re,
The commercial insurance market has been experiencing significant instability, prompting businesses to seek alternative risk management solutions. One such solution gaining traction is captive insurance. This article delves into the current market conditions, the benefits of captive insurance, and
Element Fleet Management Corp., the world’s largest publicly traded, pure-play automotive fleet manager, has announced the launch of Element Risk Solutions. This new offering is a fully integrated risk management service that combines insurance coverage placement with industry-leading claims m
In a landmark decision in February 2024, the Supreme Court clarified the enforceability of choice-of-law clauses in marine insurance contracts under federal maritime law. The unanimous 9-0 decision in Great Lakes Insurance SE v. Raiders Retreat Realty Co., LLC, authored by Justice Brett Kavanaugh,
The recent decision by the United States District Court for the Southern District of Texas in Hudson Excess Ins. Co. v. Filipp Oilfield Services LLC et al. has provided significant insights into the insurer's duty to defend its insured in a lawsuit involving bodily injury. The case, decided on
The Diocese of Rockville Centre is navigating a complex legal landscape as it seeks to resolve numerous Child Victims Act lawsuits through Chapter 11 bankruptcy. The primary objective is to protect the Diocese, its 136 parishes, and schools while ensuring equitable compensation for the victims and
