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TODAY'S TOP DEVELOPMENTS Monday, September 15, 2014

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.


Commercial General Liability
No Occurrence in "Settling Soil" Case, Nebraska Appeals Court Rules
A Nebraska appellate court, reversing a trial court's decision, has ruled that claims against a builder arising out of damage to a home from settling soil did not amount to an occurrence under the builder's commercial general liability insurance policy. Read More

Commercial General Liability

No Occurrence in Alleged "Faulty Workmanship" Case, Wisconsin Appeals Court Finds
A Wisconsin appellate court, affirming a trial court's decision, has ruled that an insurance company that had issued a commercial general liability insurance policy to a contractor did not have to defend the insured in a lawsuit by homeowners alleging faulty workmanship. Read More

Automobile Insurance
"Racing Exclusion" Barred Coverage for Damage to Ferrari
An appellate court in Connecticut, applying Virginia law, has upheld a trial court's decision refusing to require an automobile insurance company to pay the insured for damages to his Ferrari that occurred while he was preparing for a race. Read More

Eye on the Experts
Statements Made By Insurance Company's Employees Can Be Used as Evidence that It Must Provide a Defense
This Eye on the Experts article discusses a California Court of Appeal decision finding that statements and notes made by an insurance company's employee can be used as evidence that an insurance company has a duty to defend its policyholder in a lawsuit. Read More

View All Case Law Developments

Alternative Risk and Captives

Captive Insurers Would Be Barred from Federal Home Loan Bank Membership under Proposed FHFA Rule
The Federal Housing Finance Agency is proposing to revise its regulations governing Federal Home Loan Bank membership to, among other things, define the term "insurance company" to mean a company that has as its primary business the underwriting of insurance for nonaffiliated persons. This effectively would exclude captive insurers from Bank membership. Read More

Life Insurance

CFTC Staff Issues Interpretative Letter for Life Insurance Companies Investing General Account Assets
The U.S. Commodity Futures Trading Commission's Division of Swap Dealer and Intermediary Oversight has issued an interpretation of Commission Regulation 4.10(d) and Section 1a(10) of the Commodity Exchange Act, both of which define the term "commodity pool." Read More

View All Legislative/Regulatory Developments
Global Reinsurer Capital Reaches New Peak of $570 Billion, Aon Benfield Aggregate Study Finds Read More

Prudential Group Insurance Names Bob Love Vice President of Middle Markets 
Read More

XL Group Appoints Matthew Latham as Head of Captive Programmes  
Read More

Private Drone Use Causing Many to Worry, Chubb Survey Finds  
Read More

Ironshore International M&A Division Introduces Coverage for Environmental Risk Read More

View All Industry News
Public or Livery Conveyance


Browse our entire library of over 2,500 insurance resources and forms.

View Entire September Insurance Coverage Law Report
View Insurance Coverage Law Report Archives
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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