A judge has ruled that the reported $48 million insurance coverage of a collapsed condominium building in Florida is ‘simply not enough,’ as the association responsible for the facility faces five separate lawsuits.
When one insurance company subrogates against another insurance company and both are members of intercompany arbitration, such as Arbitration Forums, arbitration is mandatory. It is the type of damages sought that determines whether arbitration is compulsory, not the type of coverage afforded by the Respondent.
The general insurance liability insurer for the Champlain Towers South condominium has indicated that it will pay out the entire amount of its policy to cover any claims related to pending litigation and future lawsuits arising from the building’s collapse last week.
Kobe Bryant’s widow has agreed to settle a lawsuit against the pilot and owners of the helicopter that crashed last year, killing the NBA star, his daughter, Gianna, and seven others.
Launching one of the richest individuals on earth into orbit has proved a leap too far for insurers, who are not ready to price the risk of losing Jeff Bezos or his fellow space travelers.
Inspecting the accident scene early and downloading black box data are among the tactics insurance lawyers use to defend ride share tort claims, lawyers suggested to A.M. Best Company Inc.
Nine children and one adult were killed in an accident involving multiple vehicles on Interstate 65 in Butler County, Alabama, on Saturday, according to Butler County Coroner Wayne Garlock.
Early in June, Senator Kirsten Gillibrand and Representative Antonio Delgado (both D-NY) reintroduced legislation that would regulate per- and poly-fluoroalkyl substances (PFAS) under the Clean Water Act.
Insurance services and claims solutions provider Charles Taylor is launching a new US-based division that is focused on offering pre-risk and post-loss environmental services.<br /><br />Known as Charles Taylor Environmental Technical Services (CT Environmental), the new business will be led by Kellie Vazquez, SVP of CT Environmental. Vazquez has 12 years of experience providing environmental services to the insurance industry.<br /><br />CT Environmental will provide a full range of environmental specialty services to clients throughout the US, from its location in California. The division’s services ‑ all designed to meet the needs of the commercial, industrial, and residential sectors ‑ will include asbestos, lead, mold, bacteria, sewage, and soot assessments, as well as indoor air quality testing.
As Eileen Garczynski sees it, her firm’s recent survey of lawyers’ professional liability claims is definitely a good news/bad news type of situation – although that ‘good news’ part might change in the near future.
Wine grape growers in Texas and surrounding states filed a lawsuit last week against drug-maker Bayer-Monsanto and chemical giant BASF for the damage their cotton herbicide has caused to vineyards.
On May 20, 2021, the Supreme Court of Illinois upheld the state appellate decision finding that that West Bend Mutual Insurance Company must defend its insured, a tanning salon, against a class-action lawsuit claiming violation of the Biometric Information Privacy Act (BIPA) under two business owners’ liability policies.
Financial institutions and their directors have to navigate a rapidly changing world, marked by new and emerging risks driven by cyber exposures based on the sector’s reliance on technology, a growing burden of compliance and the turbulence of Covid-19.
To date, much of the insurance industry’s focus on the Coronavirus (COVID-19) pandemic has been on business interruption coverage under commercial property insurance policies.
