National Underwriter's Guide to the E&S/Specialty Lines News

RECENT E&S NEWS

The Future Of Class Actions Hinges On Wal-Mart Case Review
Corporate America and trial lawyers are anxiously awaiting a decision from the U.S. Supreme Court, which has agreed to hear an appeal in a discrimination lawsuit case involving thousands of women seeking class-action status against Wal-Mart.

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FDIC D&O Suits Likely Despite Lag In Activity In Recent Years
If recent activity by federal banking regulators is any indication, many bank executives will face a costly rendezvous with history within the next few years. For those bank officials, ensuring the strength of their directors and officers liability insurance programs now could be critical in protecting their personal wealth later, according to Trevor Howard of Liberty International Underwriters.

EEOC 2010 Charges Soar To Nearly 100,000
For fiscal year 2010, the U.S. Equal Employment Opportunity Commission received nearly 100,000 new private sector charges of employment discrimination—a record high and a jump of 7 percent over 2009, the agency reported. The latest level—of 99,922 for the fiscal year ended Sept. 30, 2010—marks the third consecutive year over the 90,000 mark.


Former CRC Broker Cleared Of Paying Employer Millions
A California Court of Appeal ruled that a former top broker with CRC Insurance Services does not have to pay her former employer more than $3 million that had been awarded to the firm by a lower court. The millions in punitive and compensatory damages had been awarded by a trial court judge who agreed with CRC that the employee filed frivolous motions and failed to show up for deposition dates set in her harassment retaliation suit.

U.S. Deficit Commission Recommends Tort Reform, Including Med Mal Changes
The co-chairmen of the deficit commission appointed by President Obama proposed "aggressive tort reform" as one of its recommendations for reducing the federal budget deficit. Included in its proposal is a suggested statute of limitation on medical malpractice lawsuits—from one to three years—and the idea of replacing joint-and-several liability with a fair-share rule.

Endurance Launches U.S. Binding Unit, Appoints Prog Biz Exec
Bermuda-based Endurance Specialty Holdings Ltd. announced late last month that it has launched a new U.S. Contract Binding Authority unit to operate within Endurance American Specialty Insurance Company, Endurance's U.S. surplus lines insurer, appointing Glen Yanoff to head the unit. Separately, the Bermuda-based company said Steven Dresner will head its program business unit.

MORE E&S COVERAGE
This Month in NU Magazine
In National Underwriter magazine this month, the Dec. 6 edition featured a special report on developments impacting employment practices liability insurers, including a rise in retaliation claims and the potential for recession-related claims. A state-by-state rundown of new laws related to employee rights and a review of Bermuda wrap coverages for punitive damages is also included in that edition. NUís Dec. 27 edition will feature a report on the specialty market for child care facilities and schools.





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