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TODAY'S TOP DEVELOPMENTS Thursday, June 16, 2016  

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.


Life Insurance
Plan Administrator Breached Its Fiduciary Duty by Misrepresenting Amount of Life Insurance Coverage, Michigan District Court Rules
A federal district court in Michigan has ruled that a plan administrator breached its fiduciary duty when, despite its failure to send an evidence of insurability form to the insured when she passed the guaranteed-issue threshold of a group life policy, it represented to her that her coverage for the increased amounts was effective. Read More

Life Insurance
“Delete Spouse” Was Insufficient to Change Life Insurance Beneficiary, Pennsylvania District Court Rules
A federal district court in Pennsylvania has ruled that the divorced wife of the insured was entitled to the proceeds of his life insurance policy where he had failed to effectively change the beneficiary to his next wife. Read More

Verdicts & Settlements
Jury Rules for Defendant Who Argued That Speeding Motorcyclist Was to Blame for Crash
A Texas jury has decided that the defendant was not negligent in a case brought by a motorcyclist following a collision between his motorcycle and the defendant’s car, awarding no damages. Read More

Exclusions Barred Coverage Under Cybersecurity Policy for Assessments That Arose from P.F. Chang’s Data Breach, Arizona District Court Decides
A federal district court in Arizona has ruled that coverage did not exist under a cybersecurity insurance policy for credit card association assessments that arose from a data breach suffered by P.F. Chang’s China Bistro, Inc. Read More

View All Case Law Developments

Life Insurance

Connecticut Man Found Guilty in Multimillion Dollar Stranger-Originated Life Insurance Scheme
Daniel Carpenter has been found guilty of 57 counts of conspiracy, mail and wire fraud, money laundering and illegal monetary transaction offenses stemming from a scheme to defraud insurance companies into issuing insurance policies on the lives of elderly people for the benefit of Carpenter and others in a “stranger-originated life insurance” scheme. Read More

Eye on the Experts
Federal Reserve Proposes Regulatory Capital Frameworks for Supervised Insurers and Enhanced Prudential Standards for Insurers Designated as Systemically Important
As explained in this Eye on the Experts article by lawyers at Sullivan & Cromwell LLP, the Board of Governors of the Federal Reserve System (“FRB”) has issued an advance notice of proposed rulemaking describing two regulatory capital frameworks for FRB-supervised insurance companies, and has issued a proposed rule applying enhanced prudential standards to the Financial Stability Oversight Council-designated insurance companies. Read More

View All Legislative/Regulatory Developments
Allied World Announces Retirement of North American Healthcare President Sue Chmieleski; Appoints Holly Meidl as SVP Read More

Alliant Acquires Western Carwash Insurance Program 
Read More

Allianz Global Corporate & Specialty Expands Cyber Insurance Team; Emy Donavan Named Regional Head of Cyber and U.S. Deputy Head of E&O  
Read More

Sara C. Brothers Joins Great American Insurance Group’s Environmental Division as Divisional Vice President  
Read More

FC&S Legal Publishes “Colorado Supreme Court: Insurers Need Not Show Prejudice to Enforce No-Voluntary-Payments Provision of Insurance Policy”  
Read More

View All Industry News
Portable Electronics Insurance Chart


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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
Cort T. Malone, Anderson Kill, P.C.
Richard 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
Thomas F. Segalla, Goldberg Segalla
David D. Thamann, The National Underwriter Company

FC&S Daily Legal Report ($1,295 annual subscription) is included as part of your subscription to FC&S Legal: The Insurance Information Center. FC&S Daily Legal Report and The Insurance Coverage Law Report are publications of The National Underwriter Company. For more information, visit To subscribe to FC&S Legal, please contact customer service at 1-800-543-0874 or

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