The Standard Formula Podcast | Assessing Prudential Solvency Regimes in the Middle East
The Standard Formula Podcast | Assessing Prudential Insurance Regulation in Japan
The Standard Formula Podcast | Unpacking the IAIS’ Adoption of the Insurance Capital Standard
The Standard Formula Podcast | The SFCR and Other Public Reporting: A Solvency II Cornerstone
The Standard Formula Podcast | Bermuda Monetary Authority Proposes Enhancements to its Regulatory Regime
We touch upon several issues in this month’s update. Negligent breach of contract: Courts recognize that a CGL policy does not cover breach of contract claims. But where the insured is accused of negligently performing its...more
5 Walworth clarifies an issue that had become muddled since the Wisconsin Supreme Court’s 2016 decision in Wisconsin Pharmacal Co. v. Nebraska Cultures of California. Namely, 5 Walworth overturns Pharmacal’s introduction of...more
As a contractor, you are familiar with working together with subcontractors — delegating project scope as part of the overall job. However, when a subcontractor’s work is defective, who is liable for the damage?...more
In Southern-Owners Insurance Co. v. Midnight Tires Inc., the U.S. District Court for the Middle District of Florida granted an insurer’s motion for summary judgment after considering extrinsic evidence on the issue of the...more
In Short - The Background: Indemnity clauses are often included in contracts and can be extremely valuable, but they also raise many potential challenges to enforcing them, including state statutes, common law...more
In Scaglione v. Acceptance Indemnity Insurance Co., the Eighth Circuit Court of Appeals affirmed a district court order holding that an assault and battery exclusion in a commercial general liability policy barred coverage...more
On construction projects, it is common for the owners, general contractors, and subcontractors to execute various contracts requiring the parties to procure insurance and have other parties designated as additional insureds...more
On June 15, 2023, in Citizens Insurance Company of America v. Wynndalco Enterprises LLC, the Seventh Circuit Court of Appeals affirmed the U.S. District Court for the Northern District of Illinois’ decision holding that a...more
On June 1, 2023, the Sixth Circuit Court of Appeals found that a Lanham Act false advertising lawsuit was not covered under the “personal and advertising injury” coverage section of a commercial general liability (CGL) policy...more
An issue that remains contentious is whether the Supplementary Payments provisions in the general liability policy provide coverage for attorney’s fees, which the insured is ordered to pay at the conclusion of litigation. ...more
COVID-19: FCA updates webpage on BI insurance test case - The UK Financial Conduct Authority (FCA) has updated its webpage on its business interruption (BI) insurance test case, publishing a draft transcript of the...more
Pennsylvania recently joined the movement to introduce legislation that would override insurance policy language and require carriers that have issued commercial liability policies — specifically policies covering business...more
On August 26, 2019, the Eleventh Circuit Court of Appeals, applying Florida Law, held that ill-gotten gains do not constitute covered “loss” within the meaning of a D&O policy. In Philadelphia Indemnity Insurance Co. v. Sabal...more
The defendant, Preferred Contractors Insurance Company Risk Retention Group LLC (PCIC), is a risk retention group charted in Montana and doing business in New York. PCIC issued a CGL policy naming defendant Nadkos Inc. as an...more