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Property Insurance Insurance Industry Today's Popular Updates

McDermott Will & Schulte

Canaries and coal mines, US insurers and climate change

Canaries are the most familiar of “sentinel species” – animals (and plants) that can alert us to threats to human health and the environment. Those who know their mining history also know that canaries were first used in...more

Zelle  LLP

Any is Not All and The Future is Not Now: The Contours of the Cosmetic Damage Exclusion Taking Shape

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In Iyengar v. Liberty Insurance Corporation, No. SA-21-CV-1091-FB, 2024 WL 5505300 (W.D. Tex. Dec. 13, 2024), District Judge Biery denied Plaintiffs’ Motion for Clarification regarding Magistrate Judge Bemporad’s...more

Zelle  LLP

The LA Fires Contingent Business Interruption Coverage Considerations

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The Los Angeles area fires that started in early January have destroyed thousands of homes and businesses throughout the region. The fires triggered ongoing evacuation orders and warnings as communities coped with dangerous...more

Zelle  LLP

Cade v. State Farm Lloyds — Insured's Failure to Comply with Policy Conditions Bars Personal Property Claims

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In PAJ, Inc. v. Hanover Ins. Co., the Texas Supreme Court set forth the “notice-prejudice rule,” which states that unless an insurer was prejudiced by an insured’s delay in giving timely notice of its claim or suit, an...more

Pillsbury - Policyholder Pulse blog

Hurricanes Helene and Milton: Insurance Implications

Hurricane Helene struck Florida’s Big Bend region as a category 4 hurricane on September 25, 2024, and continued to move northeast. The storm caused widespread power outages and catastrophic damage across Florida, the...more

Blank Rome LLP

The War Exclusion and State-Sponsored Cyberattacks: The Battle Is Won but Is the War Over?

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Sovereign nation states have been behind (or suspected of being behind) some of the worst cyberattacks. When a cyberattack has state involvement, the inevitable question is whether it constitutes an act of war. The answer can...more

Zelle  LLP

California Wildfires - Underwriting Considerations

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Wildfires in California are, unfortunately, burning as frequently and as ferociously as ever. Exemplified by the 2017, 2018, and 2020 wildfire seasons, the number of wildfires in the last 5 years stands at a staggering 85,028...more

Cozen O'Connor

Global Insurance Perspectives on Climate Change

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Evolving climate change data presents an ominous trend that has the potential to upend historical assumptions of actuarial science. For example, in the last several years global risk markets have weathered historically...more

Zelle  LLP

COVID Rulings May Support Ransomware Insurance Denials

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Ransomware attacks were already on the rise prior to the COVID-19 pandemic, but the prevalence of such cyberattacks substantially increased during the pandemic due, in part, to additional security risks associated with the...more

ArentFox Schiff

New York DFS Circular Letter No. 2 (2021): Cyber Risk Framework for Property & Casualty Insurers

ArentFox Schiff on

On February 4, 2021, the New York Department of Financial Services (DFS) issued Circular Letter No. 2 (2021) to all authorized property and casualty insurers in New York, outlining a “Cyber Risk Framework” that all authorized...more

King & Spalding

Federal Court in Maryland Holds Property Insurer Must Provide Coverage for Ransomware Attack

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Cyber insurance policies are typically a company’s first line of defense following a cybersecurity event, but a recent decision from a federal court in Maryland illustrates why businesses should always look for cyber coverage...more

Bradley Arant Boult Cummings LLP

House Bill 1774 Requires Urgent Action by Texas Policyholders to Preserve Coverage for Hurricane Harvey Flood Claims

Even as Hurricane Harvey’s effects continue to unfold, Texas policyholders face another imminent threat. On September 1, 2017, a new Texas law becomes effective that dramatically limits insurance recoveries for Texan...more

Robins Kaplan LLP

When it Rains it Floods: California Rainstorms and Flood Insurance

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Until very recently, the scarcity of water and the decline in oil prices in California prompted the joke that oil was being used as fracking fluid to get water out of the ground. In the last week, however, so much rain has...more

Cozen O'Connor

Can Disputes Related To Procurement Of Federal Flood Insurance Policies Be Litigated In State Court?

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It is well-established that claim processing and wrongful denial of coverage disputes involving federal flood insurance policies belong in federal court because they present substantial questions of federal law. The U.S....more

Carlton Fields

Prevailing in an Era of Regulatory Enforcement – Balancing Risk and Compliance [Expect Focus – Vol. II, July 2016]

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IN THE SPOTLIGHT - - SEC Sanctions Unregistered EB-5 Investments Broker SECURITIES - - FINRA to Assess Member Firms’ Culture - SEC Seeks Fund Responses to Distribution-In-Guise Guidance ...more

Cozen O'Connor

New Jersey Supreme Court Holds that a Person Violates the Insurance Fraud Statute Even if Insurer is Not Duped Into Paying a...

Cozen O'Connor on

In the recent case of State of New Jersey v. Robert Goodwin, 224 N.J. 102, 129 A.3d 316 (N.J. 2016), the Supreme Court of New Jersey held that a person violates the insurance fraud statute, N.J.S.A. 2C:21-4.6(a), even if he...more

BakerHostetler

State Data Breach Notification Requirements Specifically Applicable to Insurers

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Almost all U.S. states and territories have enacted breach notification laws requiring private and/or government entities to notify individuals when their personal information is compromised....more

Cozen O'Connor

Oklahoma Holds Question of Whether Fracking Causes Earthquakes is for the Courts to Decide.

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The issue of whether hydraulic fracturing or “fracking” causes earthquakes has first-party insurance implications because policies typically exclude damage from tremors attributable to man-made causes as opposed to purely...more

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