New York Law Journal | Analysis
By Elliot Pisem and David E. Kahen | October 18, 2017
In their Taxation column, Elliot Pisem and David E. Kahen write: 'Avrahami' was at least arguably an extreme case in several respects, but seems likely to encourage the IRS to pursue tax adjustments with respect to transaction structures involving micro-captives.
New York Law Journal | Analysis
By Peter Fisch and Mitchell Berg | October 17, 2017
In their Transactional Real Estate column, Peter Fisch and Mitchell Berg of Paul, Weiss, Rifkind, Wharton & Garrison discuss representation and warranty insurance which has become commonplace in M&A transactions. They offer the question of whether real estate transactions will follow suit, and conclude that "for more complex transactions, where traditional due diligence may fall short or be impractical, or where an entity rather than an asset is being acquired, the answer may be yes."
New York Law Journal | Analysis
By Kelsey Shannon and Martin Lynn | October 14, 2017
Kelsey Shannon and Martin Lynn write: What does it take to qualify one's home as one's "residence?" The case law unfortunately does not provide much certainty. There are a couple well-established principles. First, "[t]he standard for determining residence requires something more than temporary or physical presence and requires at least some degree of permanence and retention to remain." And second, a person can have more than one "residence" for purpose of insurance coverage. But that's about it.
New York Law Journal | Analysis
By John Sparling, Scott Shapiro and Giancarlo Stanton | October 14, 2017
John Sparling, Scott Shapiro and Giancarlo Stanton write: Focused and timely risk management practices can help alleviate the time and cost of problems post-Burlington. These practices may include (1) review and verify additional insured endorsements and certificates in advance of project work, (2) aggressive risk transfer practices in the face of inappropriate declinations, and (3) good contract review and business partner practices.
New York Law Journal | Analysis
By William G. Passannante and Carrie Maylor DiCanio | October 14, 2017
William G. Passannante and Carrie Maylor DiCanio provide some strategies to obtain the coverage purchased and facilitate efficient resolution of R&W insurance disputes.
New York Law Journal | Analysis
By Jeremy M. King | October 14, 2017
Jeremy M. King writes: Surprisingly, many courts have found that "Computer Fraud" coverage does not apply to a common form of Internet fraud—the email scam—and coverage will depend upon the state's law that applies to the policy. Policyholders need to know the scope of the coverage they have purchased in order to determine whether they are exposed to risks that fall within less-than-obvious gaps in that coverage.
New York Law Journal | Analysis
By William G. Passannante and Carrie Maylor DiCanio | October 14, 2017
Mina Matin writes: The "known loss" principle, under New York Law, is the recognition of the universal public policy that insurance should only cover fortuitous losses. This article explores this principle as it relates to third party liability and excess liability policies, and discusses its practical implications.
New York Law Journal | Analysis
By Daniel A. Rabinowitz | October 14, 2017
Daniel A. Rabinowitz writes: Capital requirements for insurers are currently undergoing far-reaching changes across numerous jurisdictions as policymakers and regulators strive to keep up with evolving macroeconomic pressures and variables. These changes, in turn, could have a profound impact on some of the most fundamental business decisions made by carriers, such as pricing policies, investing assets, entering or exiting lines of business and others.
By Marcia Coyle | National Law Journal | October 13, 2017
NY Attorney General Eric Schneiderman vows to resist Trump administration's legal maneuvering.
New York Law Journal | Analysis
By David M. Barshay | October 11, 2017
In his No-Fault Insurance Law Wrap-Up, David M. Barshay discusses recent cases involving interest to be paid on overdue claims.
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