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By Raymond A. Mascia Jr. and William G. Passannante | May 24, 2024
Recently, several New York courts have held that an insurance company has no right to recoup defense costs where the insurance policy includes a duty to defend, but does not include an express contractual provision allowing for recoupment.
9 minute read
By Christopher C. Loeber and Helen P. Hunter | May 24, 2024
Corporations typically have risk management departments that stay on top of their coverage portfolios, but individual policyholders all too often purchase policies and simply file them away in the apparent hope that the mere act of buying coverage serves as a hedge against ever needing it. This is the "buy and shelve" approach to insurance. And, while it's never a good strategy, it is particularly dangerous in the context of life insurance.
7 minute read
By Alex Anteau | May 23, 2024
"[The defense] did a good job of trying to keep the damages down," plaintiffs counsel Roy Boyd said. "In a case like this, that's about all you can do."
5 minute read
By Cheryl Miller | May 23, 2024
The unanimous high court stopped short of saying that COVID-19 could never cause insurance-covered property damage. But a concert venue company failed to prove that it did in this case, the court held.
3 minute read
By Charles Toutant | May 22, 2024
"The record shows the trial court was misled into error here and we are confident justice will ultimately be achieved," plaintiffs attorney Gerald Clark said.
4 minute read
By Alex Anteau | May 17, 2024
According to the defendant, the consent judgment "is a direct result of the insurers' failure to provide a defense and a failure to provide indemnification for the claims brought by the plaintiffs."
5 minute read
By Chris O'Malley | May 16, 2024
Rupert Bondy will now serve as senior counsel and executive vice president of governance, compliance and security.
3 minute read
By Amanda O'Brien | May 15, 2024
Insurers surveyed by risk management advisory firm Ames & Gough named conflicts and drafting errors as the two types of claims leading to the largest settlements.
6 minute read
By Colleen Murphy | May 14, 2024
"Expanding the definition of 'pedestrian' to include LSES operators would advance the medical coverage goal but undermine the goal of curbing the rise of insurance costs," Justice Lee A. Solomon said. "The legislature may certainly choose to expand the availability of PIP coverage to LSES operators, as they did with motorcycles, but that policy decision and its insurance cost implications, if any, is properly for the legislature, not the court."
5 minute read
By Alex Anteau | May 2, 2024
Defendant-appellant counsel Matt Friedlander said waiving the Civil Practice Statute was "a legally inert proclamation … like Michael Scott standing up and saying 'I declare bankruptcy.' It's funny, but it doesn't mean anything."
5 minute read
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