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TODAY'S TOP DEVELOPMENTS Wednesday, April 8, 2015

Industry news, expert analysis, and daily updates on the most significant insurance coverage legal developments—from the insurance and legal experts of The National Underwriter Company.


Superstorm Sandy
Flood Exclusion Dooms Law Firm's Bid for Business Income Coverage in Superstorm Sandy Case
In a Superstorm Sandy case, the U.S. District Court for the Southern District of New York has ruled that the flood exclusion in an insurance policy issued to a law firm located in lower Manhattan precluded its claim for loss of business income resulting from evacuation orders issued by New York City's mayor. Read More

Superstorm Sandy

In Superstorm Sandy Case, Third Circuit Holds that "Insured Property" Under SFIP Did Not Include Land
In a Superstorm Sandy case, the U.S. Court of Appeals for the Third Circuit has ruled that the "insured property" under a National Flood Insurance Program Dwelling Form Standard Flood Insurance Policy meant only the specific structures and items of property that were insured by the SFIP (such as the insureds' house) and not the entire parcel of land owned by the insureds. Thus, it held, the policy did not cover the cost of removing storm-generated debris not owned by the insureds from their land outside their house. Read More

Superstorm Sandy
Insurer's Default in Superstorm Sandy Case Is Set Aside as Court Rules that Insurer's Miscalculation of Deadline to Respond to Complaint Had Been Only Negligent
A federal district court in New Jersey has granted an insurance company's motion to set aside the default that had been entered against it after it had failed to answer or otherwise respond to its insureds' complaint in a Superstorm Sandy action, concluding that the insurer's miscalculation of the date by which it had to respond had been negligent, but not willful. Read More

Circuit Affirms Ruling that Home's Lower Level Was a Basement Where One Side Was About an Inch Below Concrete Apron Surrounding In-Ground Pool
The U.S. Court of Appeals for the First Circuit, affirming a district court's decision, has ruled that the lower level of a two-level home was a basement for purposes of a standard flood insurance policy where it was subgrade on three sides, the fourth side was 0.76" below a concrete apron that surrounded an in-ground swimming pool, and a person had to step up slightly to exit the house onto the concrete apron. Read More

View All Case Law Developments

In the States

Iowa, Maine, and Missouri Join International Information Exchange Agreement
The insurance supervisors of Iowa, Maine, and Missouri have joined an international supervisory cooperation and information exchange agreement. Read More

Life Insurance

Monetary Authority of Singapore Creates Web Portal for Consumers to Compare Life Insurance Products Online and Buy without Commissions
The Monetary Authority of Singapore has created a new web portal called compareFIRST that allows consumers to compare life insurance products of different companies and to purchase insurance without paying commissions. On the site, life insurance companies sell direct purchase insurance, a class of simple life insurance products sold without commissions and financial advice. Read More

View All Legislative/Regulatory Developments
Former Metropolitan Life In-House Counsel Gregg P. Hirsch Joins Mound Cotton Wollan & Greengrass as Special Counsel Read More

Insurance Coverage Litigators Darin L. Brooks, Meagan W. Glover, and Brian E. Waters Join Gray, Reed & McGraw 
Read More

XL Group Creates XL Innovate, A Venture Capital Initiative; Taps Tom Hutton as Leader Read More

Matt Parker is Promoted to President of Markel Specialty 
Read More

Catamaran and OptumRx to Combine Read More

View All Industry News
Insurance for a Rented Condo


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60px_newMeyerowitz Steven A. Meyerowitz, ESQ.
Director, FC&S Legal
60px_newSpears Victoria Prussen Spears, ESQ.
Associate Director, FC&S Legal
FC&S Legal Editorial Advisory Board
Mitchell J. Auslander, Willkie Farr & Gallagher LLP
Carrie Cope, Schuyler, Roche & Crisham, P.C.
Anjali C. Das, Wilson Elser
John F. Finnegan, Chadbourne & Parke LLP
Michele L. Jacobson, Stroock & Stroock & Lavan LLP
Timothy P. Law, Reed Smith LLP
Donald S. Malecki, Malecki, Deimling, Nielander &
Associates, LLC
Cort T. Malone, Anderson Kill & Olick, P.C.
D. Milone, Kelley Drye & Warren LLP
Joseph P. Monteleone, Rivkin Radler LLP
Anne M. Murray, Rivkin Radler LLP
Jerold Oshinsky, Kasowitz, Benson, Torres &
Friedman LLP
Seth B. Schafler, Proskauer Rose LLP
David D. Thamann, The National Underwriter Company

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