Louvre Heist Exposes Coverage Gaps For Art Collections
The theft of approximately $102 million worth of historic artifacts from the Louvre Museum in Paris provided a stunning example of the risks that major cultural institutions can face and the often limited insurance options available to cover financial losses.
Illinois Seeking Transparency With State Farm Suit, Pros Say
In suing State Farm for homeowners insurance data, the state of Illinois is taking an approach to regulating carriers with transparency in mind that could be replicated elsewhere, but lowering climate-influenced costs will be a challenge, experts said.
Deposit Insurance Increase Needs More Analysis, Experts Say
Deposit insurance coverage could increase for the first time since 2010 due to a bipartisan proposal to expand the limit to $10 million per depositor for certain transaction accounts, but banking and insurance experts say legislators should conduct further cost-benefit analyses to ensure safeguards are in place for high-insured deposits.
Louvre Heist Exposes Coverage Gaps For Art Collections
The theft of approximately $102 million worth of historic artifacts from the Louvre Museum in Paris provided a stunning example of the risks that major cultural institutions can face and the often limited insurance options available to cover financial losses.
Illinois Seeking Transparency With State Farm Suit, Pros Say
In suing State Farm for homeowners insurance data, the state of Illinois is taking an approach to regulating carriers with transparency in mind that could be replicated elsewhere, but lowering climate-influenced costs will be a challenge, experts said.
Deposit Insurance Increase Needs More Analysis, Experts Say
Deposit insurance coverage could increase for the first time since 2010 due to a bipartisan proposal to expand the limit to $10 million per depositor for certain transaction accounts, but banking and insurance experts say legislators should conduct further cost-benefit analyses to ensure safeguards are in place for high-insured deposits.
Expert Analysis
A strong piece of evidence, whether in the form of testimony or exhibit, is wasted if not presented effectively, s... (more story)
Financial advisers considering a job change should carefully consider recent cases that examine controlling state ... (more story)
With increasing inflation, rising unemployment and growing consumer credit delinquencies, insurers and their inter... (more story)
Property More
The Ninth Circuit upheld a Washington federal court's no-coverage decision over a contractor's $2.66 million settlement relating to faulty retaining walls it constructed, agreeing Wednesday that a "sudden and ... (more story)
Two insurers can't avoid Tanger Outlets' lawsuit seeking coverage for more than $50 million in pandemic losses, North Carolina's business court ruled, finding the retail outlet chain sufficiently connected its... (more story)
An Arkansas federal judge on Monday dismissed with prejudice Norfolk & Dedham Mutual Fire Insurance Co.'s suit against Rogers Manufacturing Corp. over $4.7 million in damage from roof collapses after the parti... (more story)
An insurer needn't pay an additional $2.1 million in coverage to the owner of a Los Angeles property that was damaged in a fire, a California federal court ruled Monday, finding the insurer already paid all be... (more story)
A Connecticut family says they were forced to vacate their home for 75 days and get rid of most of their possessions after a battery for model cars and trains purchased from Amazon exploded, setting the home o... (more story)
A Chubb unit told a Pennsylvania federal court that it has no duty to defend or indemnify a former Ramada Inn franchise operator that was ordered to pay the hotel chain's parent company over $4 million after i... (more story)
Two USAA units sought to toss two insureds' proposed class action accusing the companies of under-reimbursing their medical providers via claim handling software, telling a Washington federal court "there is n... (more story)
Jury contamination can be pervasive, so it is important that trial teams be able to spot its sources and take specific mitigation steps, says consultant Clint Townson.
A Hanover Insurance unit has no duty to cover a Minnesota school district for hail damage to the roofs of both its schools, a Minnesota federal court ruled, finding an exclusion barring coverage for "cosmetic damage" applied.
State Farm and a Tesla-approved auto repair shop asked a Maryland federal court Thursday to formally dismiss the repair shop's lawsuit accusing the insurer of defamation and interfering with its business by di... (more story)
General Liability More
A concrete subcontractor accused by a general contractor of causing more than $10 million in damage to a 461-unit condominium project in downtown Denver is not entitled to coverage under the contractor's polic... (more story)
A food distributor's excess insurer told a Connecticut state court it should owe no coverage for a nearly $7.5 million judgment stemming from an automobile collision involving a company worker whom a jury foun... (more story)
An insurer said it has no duty to defend or indemnify a landlord accused of causing its tenants to get sick from a rat infestation and unsanitary conditions, telling a Florida federal court Friday that its pol... (more story)
The Georgia Court of Appeals reversed a trial court order granting a man's motion to enforce a settlement agreement in a personal injury suit where he was accused of hitting someone with his truck, finding the... (more story)
A motocross event company and insurer have settled a coverage dispute over underlying claims that a child attending a 2022 championship event was paralyzed while swimming in an on-site creek, according to a fi... (more story)
A Florida state judge has ordered State Farm to pay out benefits for its insureds to an automobile-crash-focused healthcare company, ruling that the insurer cannot unilaterally stop paying all of its policyhol... (more story)
Geico doesn't need to pay attorney fees or costs across two dozen lawsuits from medical providers that accused the insurer of insufficiently reimbursing them for diagnostic services performed, a Florida state ... (more story)
Recent U.S. Small Business Administration guidance sets forth requirements for preventing so-called politicized debanking and specific additional instructions for small lenders, but falls short on clarity for ... (more story)
New Jersey's justices will help the Third Circuit consider whether a resident can recover up to the full $2 million limit in his employer's auto policy with Zurich rather than its $15,000 limit for underinsure... (more story)
The reach of a newly effective regulation prohibiting so-called junk fees and deceptive pricing in Massachusetts will be widespread across industries, which should prompt businesses to take note of new adverti... (more story)
Specialty Lines More
A New York federal judge has sent a data breach lawsuit against an Allstate Insurance Co. unit back to state court, ruling that he lacks subject matter jurisdiction in the suit because the causes of action in ... (more story)
Hertz Corp. urged the Delaware Supreme Court Wednesday to overturn a lower court's ruling that freed the car rental giant's insurers from covering $170 million in false-arrest settlements, arguing the settleme... (more story)
An insurer can drop its claims against a massage therapist in a dispute over coverage for an underlying malpractice contention but cannot escape the therapist's counterclaims for declaratory relief and breach ... (more story)
The Second Circuit affirmed a $54 million judgment for Citgo Petroleum Corp. in its suit seeking coverage for oil cargo lost during political unrest in Venezuela, finding Tuesday that a lower court did not err... (more story)
A property owner's title insurer owes no coverage for an underlying quiet title action over ownership of a private road between two separate properties, a New York federal court ruled, finding coverage excepti... (more story)
The Chapter 7 trustee for subprime car lender and seller Tricolor Holdings can access about $275,000 in deposited checks at its headquarters to make late insurance payments, a Texas bankruptcy judge said at an... (more story)
Justin Baldoni, the "It Ends With Us" lead and director facing sexual harassment claims from co-star Blake Lively, asked a New York federal court to dismiss an insurer's lawsuit seeking to avoid coverage, noti... (more story)
Matthew Fortin at BatesCarey discusses notable developments in Illinois insurance law from the last quarter including a state appellate court's weighing in on the scope of appraisal, a pending certified questi... (more story)
New Jersey's top court agreed to consider the Third Circuit's underinsured motorist coverage questions, the Fifth Circuit revived an oil company's suit seeking coverage for a faulty cement settlement and the E... (more story)
The Fourth Circuit didn't seem convinced Wednesday that it should affirm a lower court's finding that government investigations into Under Armour are unrelated to a securities class action against the sportswe... (more story)