Insurance Archives - Page 5 of 6 - The Insurance & Reinsurance Report

January 30, 2014 Emerging Issues

World Bank Issues First PacCat Insurance Payout to Tonga

The World Bank has issued its first insurance payout under the Pacific Catastrophic Risk Insurance pilot program. Tonga will receive $1.27 million to help with disaster relief associated with Cyclone Ian, which took place on January 11. Ian was the equivalent of a Category 4 or 5 hurricane, with gusts up to 178 miles per hour.

Under the program started in January 2013, the World Bank acts as an intermediary purchasing catastrophic risk coverage from private insurers including Sompo Japan Insurance, Mitsui Sumitomo Insurance, …

December 9, 2013 Policy Conditions, Considerations, Construction, and Formation

In Motor Vehicle Accident, Insurer of Vehicle Owner Owes Primary Coverage Despite “Other Insurance” Provisions

In October 2008, Jayme Lynn Jones, an employee of Hook & Anchor (H&A) was involved in a collision with Alexander Kosaka while Jones was driving a truck owned by Chemical Weed Control, Inc. (Chemical Weed). American States Insurance Company (American) insured H&A. ACE American Insurance Company (ACE) insured Chemical Weed. American tendered the defense of H&A in the ensuing litigation to ACE, which ACE denied.

American defended H&A, and subsequently commenced this declaratory judgment action seeking defense costs and attorneys’ fees and a declaration that …

November 22, 2013 Emerging Issues

President Obama’s ACA Extension – NAIC Response

With the January 2014 effective date under the Affordable Care Act’s (ACA) essential benefits and guaranteed coverage provisions quickly approaching, several million people have received a cancellation notice. Facing wild criticism, President Obama responded with a regulatory fix that will allow Americans to keep ACA non-compliant insurance policies, albeit temporarily.

The extension gives American consumers the option to renew their current non-conforming plans for one year. This extension mostly affects those plans not grandfathered in under the ACA, including those newer policies that were purchased …

September 24, 2013 Bad Faith and Extra-Contractual Liability

Cases for the September 2013 Edition of CaseWatch: Insurance and Bad Faith Focus

Cases provided courtesy of LexisNexis.

CaseWatch: Insurance Cases

Admiral Ins. Co. v. Shah & Associates

Admiral Insurance Company v. Marsh

Alabama Gas v Travelers

Aleman v. Ace Am. Ins. Co.,

Allstate Ins. Co. v. Nassiri

Attorneys Liability Protection Society, Inc. v. Whittington Law Associates, PLLC

Automax Hyundai South, L.L.C. v. Zurich Am. Ins. Co.

Ba v. HSBC USA, Inc.

California Ass’n of Rural Health Clinica; Avenal Community Health Center v. Douglas

City of San Buenaventura v. Ins. Co.

Colonial Oil Industries, Inc. v. Indian Harbor …

August 6, 2013 Emerging Issues

California Supreme Court Authorizes UCL Lawsuits Against Insurers

Yanting Zhang v. California Capital Insurance Company

In a decision by the state’s highest court, the California Supreme Court harmonized years of split opinions among California courts regarding the inability to bring a private action under the Unfair Insurance Practices Act (UIPA). The inability to do so arose out of a 1988 decision by the same court, which stated that UIPA never intended to create a private cause of action for commission of the unfair practices listed therein. Moradi-Shalal v. Fireman’s Fund Ins. Co., …

July 24, 2013 Emerging Issues

Insurer Owes Coverage After Longshoreman Drops Lathe

Amera-Seiki Corp. v. The Cincinnati Ins. Co., United States Court of Appeals for the Eighth Circuit, July 23, 2013
The Eighth Circuit Court of Appeals found that The Cincinnati Insurance Company owed coverage to its insured for equipment that was destroyed at port terminal based on ambiguous policy language. The Cincinnati Insurance Company insured a machine tool supplier, Amera-Seiki Corp., under a commercial property policy. During the policy period, Amera-Seiki purchased a vertical lathe from Taiwan for delivery to a customer in Illinois. The …