Lives and Businesses Interrupted by Rocky Mountain Floods
By Wilson Elser Moskowitz Edelman & Dicker LLP
Over the past several days, severe flooding has inundated several states in the Rocky Mountain Region. Following the nearly fifteen inches of rain dumped on parts of Colorado, the resulting floods continue to wreak havoc in a state already reeling from losses suffered during the recent forest fires ($567 million) and hailstorms ($321 million).
Prior Knowledge and Lien Waiver Exclusions Bar Coverage for Defective Title Indemnification Claims
By Thomas K. Hanekamp, Esq. and Kathryn A. Formeller, Esq. of Tressler LLP
An errors and omissions policy's prior knowledge and lien waiver exclusions applied to preclude coverage for claims for indemnification against a land title company arising out of several lawsuits in connection with faulty title commitments. Lexington Ins. Co. v. Integrity Land Title Co., Inc., et al., No. 12-1599, 2013 U.S. App. LEXIS 15621 (8th Cir. July 31, 2013) (applying Missouri law).
Employers' Response to Affordable Care Act May Complicate Workers' Compensation Claims
By Goldberg Segalla, LLP
The coming implementation of the Patient Protection and Affordable Care Act may result in unintended consequences at the state level in reference to workers' compensation designs and regulations.
In New York, for instance, its impact may indirectly lead to a potential for the expansion of claims in workers' compensation cases involving continuing or permanent disabilities.
By Edward J. Stein, Esq. of Anderson Kill P. C.
In recent times, commercial crime victims have had to add the "direct loss" defense to the simple certainties of death and taxes. Whenever the chain of causation involves more than a perpetrator simply pocketing cash from the company register, the response from a commercial crime or fidelity insurance claim is a reservation of rights or outright denial on direct loss grounds. In other words, insurance companies argue that the loss does not result directly from a covered cause and therefore falls under an exclusion for indirect loss, or that it fails to meet a direct loss requirement in insuring agreements or definitions.
Insurance Coverage Tip
Matthew Heilmann of Martin & Company
According to continued reports, Cyber security risks are becoming a major worry for large organizations. Indications are that many of these organizations are not covered, but intend to purchase cyber coverage in the near future. Recently OneBeacon introduced two new Breach Event Endorsements (Cyber) to the Banking segment of their Management & Professional Liability Program. These new Breach Event endorsements will compliment their existing Cyber Broker/Dealer Services Coverage, Cyber Insurance Operations Coverage and Cyber Broker/Dealer and Insurance Operations Coverage which extends coverage to an insureds online brokerage and insurance services.