Representation and warranty insurance (RWI) has boomed in popularity in the highly-regulated world of healthcare provider deals, and many dealmakers assume it will continue to be available as we ride the current wave of deals seeking to close by year-end 2021. That assumption may be wrong ...
A Texas federal court recently ordered an insurer to reimburse an oil and gas company for costs and expenses incurred while defending against environmental claims. The court found that a duty to defend existed even though the insured failed to immediately notify the insurer of the occurrence, giving rise to the claim as required by the insurance policy, and despite alleged willful miscon- duct that was excluded from coverage under the policy ...
The U.S. Court of Appeals for the Second Circuit, in VAM Check Cashing Corp. v. Federal Insurance Company, No. 11-2644-cv, (2d Cir. Nov. 7, 2012), found the "overt felonious act" requirement in a crime insurance policy to be ambiguous. The court held, therefore, that the insured would be entitled to coverage for a theft at the insured’s store, even though it occurred as a result of a covert scheme to defraud ...
Introduction There are multiple insurance policies available on the market to protect your property in Quebec. But how well do you know all your options? In 2016, we addressed peer-to-peer insurance, which is essentially a community of users wanting to insure similar goods and services together.1 However, in November 2021, the Superior Court of Québec rendered an interesting decision2 on self-insurance in the context of insurance offered by two (2) student associations ...
A recent judgement of the Court of Appeal brings welcome clarification of the principles regarding the recovery of wasted expenditure claims in IT disputes. Summary Whist wasted costs arising from failed IT implementations often form part of a subsequent loss of profit claim, the two forms of loss are separate and distinct. Consequently, in order to be effective, exclusions must specifically refer to wasted costs ...
HUD-insured debt may be a narrow field within the broader realm of commercial real estate finance, but it never ceases to amaze me the variety of issues that I encounter within the relatively small HUD sandbox. Dinsmore’s work as lender’s counsel on a recent multifamily 223(f) loan had me grappling with issues related to sovereign immunity, a legal concept that had barely entered my consciousness since graduating from law school ...
A minority of states have enacted statutes and taken other action to protect business owners from claims by persons who allegedly were infected by COVID-19 on their premises.1 The purpose of this article is to compare these statutes and discuss some of the differences between them. This article addresses statutes in effect as of October 27, 2020. The article does not address pending legislation ...
pOver the last several years, traditional insurance has become increasingly expensive as insurers use risks and claims associated with the COVID-19 pandemic, geopolitical risk, supply-chain disruption, inflation and intensifying severe weather events to justify premium raises and coverage reductions ...
On March 20, 2014, the Supreme Court of Canada granted Réjean Hinse leave to appeal a decision involving an action in damages he brought against the federal authorities, represented by the Attorney General of Canada. In 1964, Mr. Hinse was wrongly convicted of taking part in an armed robbery and ordered to serve fifteen (15) years in prison. He was acquitted by the Supreme Court of Canada in 1997, thirty-three (33) years later. After he was acquitted, Mr ...
The COVID-19 pandemic resulted in many business owners seeking business interruption and extra expense coverage for lost income sustained as a result of mandatory closures of their businesses. At the core of such claims is the issue of whether businesses can obtain coverage for business interruption in the absence of direct physical loss to their business premises from COVID-19. Consistent with national trends, the Supreme Court of Ohio, in Neuro-Communication Servs., Inc. v ...
June 5, 2023 By: Joshua Robbins and Stephanie Shea While we wait for the U.S. Supreme Court to decide the fate of the Chevron doctrine governing courts’ deference to agencies’ interpretations of law, its recent decision in another case has flown under the radar. In Calcutt, III v. FDIC, 598 U.S ...
I lost my home in the 1991 Oakland Firestorm. As such, my heart goes out to the residents of Napa, Mendocino and Sonoma counties whose homes were damaged or destroyed, to the firefighters and first responders who have risked and are risking their lives, as well as to the community, which will also experience the aftermath of such devastating fires ...
Global research company Chambers and Partners recently published the Chambers Insurance & Reinsurance Global Practice Guide 2024, with chapters from the Philippines authored by SyCipLaw partners ...
