Legal Archives - The Insurance & Reinsurance Report

March 13, 2014 Policy Conditions, Considerations, Construction, and Formation

Court Finds Coverage Under Professional Liability Policies For Settlement In Breast Cancer Vaccine Case

In this declaratory judgment action, the plaintiff, Rosalind Franklin University of Medicine and Science (Rosalind), seeks coverage from its insurers, Lexington Insurance Company (Lexington) and Landmark American Insurance Company (Landmark), after both insurers denied coverage for a settlement Rosalind paid in an underlying lawsuit brought by former patients who sought compensation for Rosalind’s decision to discontinue an experimental breast cancer vaccine program. Lexington filed a cross-claim against Landmark, contending that Landmark’s policy should provide coverage for the underlying suit and settlement.

Lexington and Landmark argued …

May 21, 2013 Policy Conditions, Considerations, Construction, and Formation

Court Finds that Ownership is indeed 9/10th of the Law in Rescission Case

PHL Variable Ins. Co. v. P. Bowie 2008 Irrevocable Trust
(1^st Cir. (R.I.) May 13, 2013)
The First Circuit recently held that an insurer may retain life insurance premiums following a policy rescission to offset the loss it has suffered. The ruling is notable because courts typically require an insurer to refund an insured’s policy premium where a rescission is effected.

In PHL, an insurance broker submitted an application for life insurance for Peter Bowie. Bowie’s application represented that he was a self-employed …