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In High-Stakes Business Litigation, All-or-Nothing Approach in Complaint Leaves Directors with Nothing
Category: Appellate Law, Insurance, Litigation
In a complex business dispute between four different corporations, involving multiple lawsuits and arbitrations, top level directors of a corporation are left without coverage under their D&O insurance policy after personally being made defendants. A recent opinion by the U.S. Court of Appeals for…
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Litigating Through Layers of Insurance
Category: Appellate Law, Insurance, Litigation
A business concedes that it made a mistake, but pleads for mercy with the jury and asks for a reasonable amount of damages. A jury ultimately awards $6 million. There are several insurance policies involved. Who is left holding the bag? In an opinion announced this week by the Eighth Circuit Court…
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Texas Adopts New Surplus Lines Laws
Category: Insurance
Governor Greg Abbott has signed into law two bills recently passed by the Texas Legislature. House Bills 1306 and 1940 provide new opportunities for surplus lines agents and insurers in Texas. HB 1306 Reacting to the absence of flood insurance for many victims of Hurricane Harvey, the Legislature…
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BigData: Great Opportunities in the Face of Impending Regulations
Category: Insurance
To kick off the New Year, the New York Department of Financial Services (“DFS”) published Insurance Circular Letter No. 1 (2019) warning life insurers that use of external consumer data and information sources, commonly coined as “BigData,” against use in underwriting life insurance. The DFS…
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Texas Legislative Committees on Insurance Appointed
Category: Insurance
The Lt. Governor, as presiding officer of the Senate, and the Speaker of the House of Representatives have made their committee appointments. The two committees which will be responsible for most insurance related legislation this session are the Senate Business & Commerce Committee and the House…
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