A recent study by the Geneva Association on the topic of ‘social inflation’ addresses the challenges of defining and quantifying the phenomenon. More important, it takes on the question of what insurers and reinsurers can actually do about it.
More than 30 people who lived near Bethlehem Park are suing Great Lakes Industrial Development for damages related to the massive 2016 fire at the former Bethlehem Steel site that roared for four days.
In a recent decision from the United States District Court in the Northern District of Ohio, Judge Polster found that pursuant to the terms and conditions of a Commercial Business Policy, coverage existed for losses sustained by the restaurants as a result of government ordered shutdowns arising out of the COVID-19 pandemic.
In first-party breach of insurance contract actions, the parties oftentimes dispute whether the policyholder may seek damages that are not explicitly provided for in the policy, with the policyholder arguing such indirect damages flow from the alleged breach of contract.
As the Fifth Circuit reminded us in a December 21 decision, primary insurers can find themselves in excess insurers’ shoes if they reject settlement demands within their policy limits.
Claims and lawsuits involving slip and falls on snow and ice are big business, especially in heavily populated cities in the northeast like New York; Philadelphia; Washington, D.C.; and Baltimore. Significant resources are spent investigating, defending, and resolving these claims.
In the state of Ohio, a light-duty job offer is a strategic way to either bring an injured worker back to the workforce or bar temporary total compensation, should the injured worker reject a valid offer. Either way, it can aid employers in eliminating, minimizing, and/or stopping temporary total disability compensation from being paid in a claim.
Professional services giant AECOM has commenced legal proceedings against Zurich American Insurance for breach of contract and violation of "the implied covenant of good faith and fair dealing". AECOM alleges the insurer refused to pay out on coronavirus-related claims even though such coverage was not specifically excluded in AECOM’s "all-risk" property insurance policies.
Small businesses, from restaurants to nightclubs and wedding planners to beauty parlours, on Friday won the right to insurance payouts after Britain’s highest court ruled many policies should cover losses caused by coronavirus lockdowns.
Florida’s Insurance Commissioner says claims solicitation is raising the cost of Florida’s property insurance industry for both consumer and provider. David Altmier told a Senate panel Tuesday that rates for property owners will continue to rise unless something is done.
Former Chargers tight end Antonio Gates and his wife are suing AIG Property Casualty Co., alleging the insurer breached a contract to compensate them for a nearly $1 million burglary at their Encino home.
While 2020 was an unusual year, it highlighted many of the things the insurance industry is doing well and some areas where it could see some improvement.
The importance of working as a team and communicating effectively during the initial phase of a claim investigation cannot be overstated. As soon as an incident occurs on property, risk managers, claims adjusters, and outside defense counsel all have a job to do.
In January, the US Supreme Court will hear arguments in one of the lawsuits filed against oil and gas companies for their alleged contribution to climate change. The Court’s ruling will likely have a significant impact on how climate change litigation will proceed and, consequently, on the exposure faced by the “Carbon Majors” – and their liability insurers.
