A recent federal appeals court case applying Utah law goes to the heart of the conflict that arises between a policyholder and insurer when an insurer defends a policyholder under a reservation of rights and receives a settlement offer.
A major Kansas City health insurance provider is accusing a medical laboratory of price gouging for COVID-19 tests, charging roughly 10 times more than other companies.
Litigation funding – in which third parties assume all or part of the cost of a lawsuit exchange for an agreed-upon percentage of the settlement – is often cited as contributing to social inflation.
Back in 2017, we wrote about the impact that modern deposition management services can have on the leading impediments to insurance company profitability: unallocated loss adjustment expenses (ULAE), allocated loss adjustment expenses (ALAE), and losses paid out to claimants.
Employer defendants in more than half of the COVID-19 injury or wrongful death lawsuits being tracked by the National Council on Compensation Insurance argue that the workers compensation exclusive remedy provisions in state laws bar such litigation.
Litigation on a range of environmental, social and governance issues, such as climate change, pollution, diversity and CEO pay, is on the rise, putting pressure on companies to proactively manage ESG risks.
While litigation predictions at the start of the year pointed to a ‘perfect storm’ in the D&O insurance space, another area of insurance disputes has been slowly on the rise, and lawyers say it is not looking likely to stop.
‘Social inflation’ refers to rising litigation costs and their impact on insurers’ claim payouts, loss ratios and, ultimately, how much policyholders pay for coverage. <br /><br />The insurance lines most affected are commercial auto, professional liability, product liability, and directors and officers liability. There also is evidence that private-passenger car insurance is beginning to be affected. As increased litigation costs drive up premiums, those increases tend to be passed along to consumers and can stifle investment in innovation that could create jobs and otherwise benefit the economy.
Litigation against insurance companies for failing to pay disability benefits to people who can no longer work after having Covid-19 is on the way, attorneys say, the cases just take time to gain momentum.
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The Eighth Circuit Court of Appeals recently held that, under Iowa law, an insurer is not liable for breach of contract or bad faith if its coverage decision was objectively reasonable at the time it was made.
Jim Beck, the suspended insurance commissioner of the state of Georgia, will be going to trial over allegations that he defrauded his former employer of $2 million.
The first appellate court to consider a COVID-19 business interruption claim has ruled in favor of the insurer holding that coverage for business losses resulting from the COVID-19 pandemic and related government orders is not triggered under a commercial property policy because there is no ‘physical loss’ or ‘physical damage’ to property.
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.
