Dennis Jay | Insurance Fraud News Insurance fraud is an $80 billion a year industrial enterprise, churning out stolen insurance cash with the collective financial force of an overheated solar flare. Say hello to the newest avatars of avarice, the freshly chosen members of the Insurance Fraud Hall of Shame … the No-Class of 2019.… Continue reading Welcome to the Hall of Shame(rs)
Category: Insurance
Indemnify is a Funny Word Carrying Historical Baggage—Be Aware and Use with Care
Glenn West | Weil, Gotshal & Manges Despite the proliferation of R&W insurance as the sole recourse for buyers with respect to sellers’ breach of representations and warranties, an indemnification remedy against sellers (subject to a cap) continues to find its way into many private company acquisition agreements. Indemnification, as a concept, originated in the… Continue reading Indemnify is a Funny Word Carrying Historical Baggage—Be Aware and Use with Care
Crazy New Policy Language? Report It To United Policyholders!
Chip Merlin | Property Insurance Coverage Law Blog United Policyholders takes action and gets things done for policyholders regarding the insurance gap issue. United Policyholders is tackling the insurance gap coverage problem by providing staff and resources to collect rogue property insurance policy forms being issued by insurance companies, to show examples of how insurers are… Continue reading Crazy New Policy Language? Report It To United Policyholders!
Be Careful with Good Faith Payments
Christopher G. Hill | Construction Law Musings | November 25, 2019 Sometimes doing the expedient thing and what looks good at the time can come back to bite you. Just ask 3M Company. In Faneuil, Inc. v. 3M Co., the Virginia Supreme Court considered a customer services subcontract between Faneuil and 3M relating to a toll… Continue reading Be Careful with Good Faith Payments
Wash. Ruling Offers Key Safeguards For Additional Insureds
Catherine L. Doyle and Brian S. Scarbrough | Jenner & Block | November 27, 2019 It is common in certain commercial relationships for contracting parties to agree that one will obtain insurance and name the other as an “additional insured” on the policy. For example, these arrangements are often seen in the construction industry, between… Continue reading Wash. Ruling Offers Key Safeguards For Additional Insureds