News & Analysis as of

Insurance Industry Misleading Statements

Kennedys

Appellate Court of Illinois decision reminds insurers to communicate with insureds or face potential consequences: Estoppel of...

Kennedys on

The Appellate Court of Illinois recently reminded insurers that they may be estopped from raising coverage defenses through their misleading acts or statements, including silence. In Monroy-Perez v. Sentry Select Ins. Co.,...more

Wiley Rein LLP

New Jersey Appellate Court Affirms Rescission of Policies Based on Law Firm’s Misrepresentation in Applications

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In a win for Wiley’s client, a New Jersey appellate court, applying New Jersey law, affirmed a trial court’s decision rescinding four lawyer’s professional liability policies because of material misrepresentations made in the...more

Walkers

Global Legal Insights FinTech 2024: British Virgin Islands chapter

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The government of the British Virgin Islands (“BVI”) and the BVI Financial Services Commission (“FSC”) – the principal financial services regulator – have progressed important initiatives in recent years that demonstrate the...more

Lippes Mathias LLP

New York Poised to More Actively Regulate the Pet Insurance Market

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The New York State legislature recently passed a bill that will, if approved by Governor Hochul, create a regulatory framework for the issuance of pet insurance in New York, mirroring similar legislation enacted in states...more

Skadden, Arps, Slate, Meagher & Flom LLP

JPEX Is Test Case for Hong Kong’s New Regulatory Regime for Virtual Asset Exchanges

Hong Kong regulators recently brought criminal enforcement actions against virtual asset trading platform JPEX and individuals associated with the platform. This case has become the first opportunity for local authorities to...more

White & Case LLP

The SEC’s Charges Against SolarWinds and its Chief Information Security Officer Provide Important Cybersecurity Lessons for Public...

White & Case LLP on

On October 30, 2023, the US Securities and Exchange Commission ("SEC") announced that it filed charges against SolarWinds Corp. ("SolarWinds" or the "Company") and its Chief Information Security Officer ("CISO") in connection...more

Faegre Drinker Biddle & Reath LLP

CDI Issues Bulletin Warning Insurers of False and Misleading Advertisements Related to Public Option Legislation Pending in...

Insurers and brokers selling long-term care (LTC) insurance in California should be aware of the California Department of Insurance (CDI) bulletin of August 23, 2023, expressing concern over certain complaints received by CDI...more

Orrick, Herrington & Sutcliffe LLP

District Court preliminarily approves $300 million auto insurance settlement

On May 1, the U.S. District Court for the Northern District of California preliminarily approved a $300 million class action settlement resolving claims that a national bank hid misconduct relating to its auto insurance...more

Smart & Biggar

True or False? Testing the limits of comparative advertising – Petline v Trupanion

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Comparative advertising can be a useful tool for marketers. It positions competing brands against each other and helps consumers make better choices. However, there are legal limits to comparative advertising which are set...more

Carlton Fields

Insurance Broker Must, At Its Own Expense, Produce Documents Requested By Subpoena Issued In Dispute Between Workers’ Compensation...

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A district judge in the Eastern District of California has ordered a third-party insurance broker to comply with a subpoena from defendants seeking documents related to that broker’s sale of defendant’s insurance policies to...more

White and Williams LLP

District of Maryland: Prior Knowledge Exclusion in Policy Application Bars Coverage

Professional liability insurance policies often contain prior knowledge exclusions, which typically bar coverage when an insured has “knowledge or information of any act, error or omission which may give rise to a Claim.”...more

Hogan Lovells

New York Regulators Lead the Charge to Fill Health Data Protection Gaps Left by Federal Law

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New York AG Settles Data Protection Enforcement Against Mobile Health Apps - After a year-long investigation into mobile health apps claiming to be able to measure vital signs or health indicators through smartphone...more

Eversheds Sutherland (US) LLP

From Insurer's Shield to Insured's Sword: California Supreme Court Authorizes Policyholder Unfair Competition Law Claims for...

On August 1, 2013, the California Supreme Court ruled in Zhang v. The Superior Court of San Bernardino County, No. S178542 (Cal. Aug. 1, 2013) that insurance practices violating the state’s Unfair Insurance Practices Act...more

Cozen O'Connor

PA Court Holds Coverage is Barred Under Professional Liability Policy for False Claim Act Lawsuit Costs

Cozen O'Connor on

On July 16, 2013, the Pennsylvania Court of Common Pleas (Philadelphia County) granted summary judgment in favor of ACE American Insurance Company, holding that costs arising from False Claims Act Litigation were excluded...more

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