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July 30, 2009 Policy Conditions, Considerations, Construction, and Formation

Port Authority Ordered to Reimburse Con Ed and Insurers $17.6M for September 11th Damage

In re September 11 Litigation Consolidated Edison Co. of N.Y., Inc. v. Port Auth. of N.Y. & N.J. (S.D.N.Y. July 27, 2009)

A federal judge has ordered the Port Authority of New York and New Jersey to pay $17.6 million to Consolidated Edison and its insurers for property damage sustained during the September 11^th attacks on the World Trade Center. In 1968, Con Ed and the Port Authority entered into a lease and electrical supply agreement wherein the Port Authority granted Con Ed …

July 30, 2009 Legislative Update

Bi-Weekly Insurance Legislative Update (50 States)

California

Senate Bill 156

(Introduced Feb. 12, 2009, Last Action July 13, 2009)

This bill amends existing law that provides for prevention, detection and investigation of insurance fraud to include Workers’ Compensation and requires insurers to disclose Workers’ Compensation insurance fraud incidents. It also protects a person sharing information pursuant to the authorization from civil liability.

Louisiana

House Bill 201

(Introduced Apr. 7, 2009, Last Action July 9, 2009)

This bill relates to automobile property casualty and liability insurance policy and provides for non-renewal …

July 21, 2009 Legislative Update

Insurance Legislative Update for All 50 States

California

Senate Bill 156

(Introduced Feb. 12, 2009, Last Action July 13, 2009)

This bill amends existing law that provides for prevention, detection and investigation in insurance fraud to include Workers’ Compensation and requires insurers to disclose Workers’ Compensation insurance fraud incidents. It also protects a person sharing information pursuant to the authorization from civil liability.

Louisiana

House Bill 201

(Introduced Apr. 7, 2009, Last Action July 9, 2009)

This bill relates to automobile property casualty and liability insurance policy and provides for …

July 1, 2009 Reinsurance / Reinsurance Review

Cases Cited in Goldberg Segalla’s Reinsurance Review – July 2009 Edition

Supreme Court Decision – Download Stolt-Nelsen.v.AnimalFeed

Fifth Circuit Decision – Download Saipem.v.Wellington

Northern District of Illinois Decision - Download In.re.arbitration.in.London

Southern District of New York Decision - Download TIG.v.Century.Indemnity.Order

State of California, Fourth Appellate District Decision – Download Ceradyne.v.Argonaut.Insurance.Co

United Kingdom Decision – Download Flexsys America.v.XL Insurance

United Kingdom Decision – Download Youell.v.La Reunion

Download Nonadmitted and Reinsurance Reform Act of 2009

For more information, please contact Jeffrey Kingsley at [email protected] …

June 20, 2009 Legislative Update

Insurance Legislative Update for All 50 States

Legislation

Alabama

Senate Bill 5

(Introduced May 26, 2009; Last Action May 26, 2009)

This bill prohibits the application of a hurricane deductible for property damage in insurance policies unless the damage arose from a named hurricane or tropical storm. It requires personal lines insurance policies offering a percentage deductible for the peril of winds and hail to offer a voluntary buy‑back provision and provides penalties for violations.

California

Senate Bill 119

(Introduced February 2, 2009; Last Action May 28, 2009)

This bill extends …

June 15, 2009 Uncategorized

District Court Upholds Insurance Carrier’s Position on Property Damage Claim Arising from Hurricane Katrina

Dairy America, Inc. v. New York Marine and General Ins. Co.

(E.D. Cal. June 11, 2009)

Plaintiff secured an ocean cargo policy from the insurer which included a clause stating that insurance “attaches to all shipments commencing on or after August 11, 2005 and prior to October 1, 2006, both days at 12:01 A.M. local standard time at place of insurance.” The binder, however, lacked such an attachment clause.

Plaintiff assembled several dozen loads of milk powder for shipment to Havana, Cuba. On August 29, 2005, 59 …

June 11, 2009 Reinsurance

District Court Rejects Reinsurers’ Request to Change Venue

TIG Insurance Co. v. Century Indemnity Co. et al

(Southern District of New York, June 4, 2009)

Philadelphia-based reinsurers submitted a motion to change the venue of a reinsurance dispute from the Southern District of New York to the Eastern District of Pennsylvania. The reinsurers argued that pursuant to 28 U.S.C. §1404(a) Philadelphia would be a more convenient forum for themselves and for party and non-party witnesses. Moreover, they argued that the locus of operative facts is in Philadelphia where the reinsurance …

June 10, 2009 Disclaimers and Reservations of Rights

TIMELINESS OF NOTICE AND/OR DISCLAIMER – Issues of fact existed regarding insured’s reasonable belief in non-liability.

Preferred Mutual Ins. Co. v. New York Fire-Shield, Inc.

N.Y.A.D. (3d Dept., June 4, 2009)

Manufacturer was aware its fire-retardant spray was used on a product worm by two Marines when they suffered severe burns, but failed to provide notice to its insurer for two years. The appellate court found issues of fact existed regarding insured’s reasonable belief in non-liability and should be resolved by a jury.

Click here for decision.

By Kimberly E. Whistler and Joseph A.Olivia

https://www.goldbergsegalla.com/attorneys/Oliva.html

https://www.goldbergsegalla.com/attorneys/Whistler.html…

June 7, 2009 Legislative Update

Legislative Update for All U.S. States

Connecticut

Senate Bill 212

(Introduced Jan. 21, 2009; Last Action May 19, 2009)

This bill prohibits insurers from charging a cancellation fee when an insured cancels its automobile liability insurance policy if the insured has been a customer of the insurer for at least one year.

Florida

House Bill 845

(Introduced Feb. 11, 2009; Last Action May 19, 2009)

This bill relates to self insurance funds and requires an application for Workers Compensation coverage issued by a group self insurance fund to notify applicants that …

June 3, 2009 Life, Health, Disability & ERISA

Life Insurance Carrier Waived Right to Rescind Policy, Despite Finding Action was Timely Commenced

Security Mutual Life Ins. Co. v. Rodriguez

(New York State, Appellate Division, 1^st Dept.) May 26, 2009

Although life insurer’s action was not barred by the incontestability clause, the court held it waived its right to rescind the policy after it continued to collect premiums. There, the insurance carrier commenced an action seeking to rescind a life insurance policy based on the policyholder’s alleged false and misleading representations. Pursuant to the statutory requirement of New York Insurance Law §3203, the policy …