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Articles 1 - 11 of 11
Full-Text Articles in Insurance Law
State Mandated Disability Insurance As Salve To The Consumer Bankruptcy Imbroglio, Alena Allen
State Mandated Disability Insurance As Salve To The Consumer Bankruptcy Imbroglio, Alena Allen
BYU Law Review
From Main Street to Wall Street, Americans are hurting. In 2009, over 1.4 million families filed for bankruptcy. Researchers examining the causes of bankruptcy discovered that as many as sixty-two percent of all bankruptcies were precipitated by a medical crisis. Because many Americans are living paycheck to paycheck and lack disability insurance, when a medical crisis strikes, bank accounts are quickly depleted by the amalgam of high medical bills and lost wages. Disability insurance provides needed wage replacement when a worker is unable to work due to an illness or injury. This Article presents the case for statemandated disability insurance …
Insurance, Stephen M. Schatz, Stephen L. Cotter, Bradley S. Wolff
Insurance, Stephen M. Schatz, Stephen L. Cotter, Bradley S. Wolff
Mercer Law Review
What constitutes an "occurrence," as defined by a commercial general liability policy, was again a significant focus of the appellate courts during the survey year. The Georgia Supreme Court finally resolved opposite positions taken by federal courts and state courts in Georgia, deciding that negligent faulty workmanship by a contractor resulting in damage to other property constitutes an occurrence. However, when an insured acts negligently, but with foresight, expectation, or design, such conduct will not be a covered occurrence. The Georgia Court of Appeals also reinforced the correct legal standard to consider when deciding whether an insured is justified in …
Catastrophic Oil Spills And The Problem Of Insurance, Kenneth S. Abraham
Catastrophic Oil Spills And The Problem Of Insurance, Kenneth S. Abraham
Vanderbilt Law Review
The BP oil spill of 2010 focused considerable attention on the operating conduct of BP, on the potential liability of BP and other entities associated with the spill, and on the fund that BP established to provide compensation to victims of the spill. Much less attention has been paid, however, to the nature and scope of insurance covering losses caused by catastrophic environmental disasters such as oil spills. BP's establishment of the Gulf Coast Claims Facility, and the compensation that will be paid by that facility, will likely dampen awareness of the mismatches between the resulting losses and the insurance …
Litigating Bp's Contribution Claims In Publicly Subsidized Courts: Should Contracting Parties Pay Their Own Way?, Bruce L. Hay, Christopher Rendall-Jackson, David Rosenberg
Litigating Bp's Contribution Claims In Publicly Subsidized Courts: Should Contracting Parties Pay Their Own Way?, Bruce L. Hay, Christopher Rendall-Jackson, David Rosenberg
Vanderbilt Law Review
In this Article, we focus on an important problem involving mass-accident cases that was highlighted by the Deepwater Horizon litigation: overuse of courts to enforce contribution claims. These claims seek to shift incurred or expected liability and damages between the business and governmental entities that participated in the activity that gave rise to the mass-accident risk. Participants in such ventures generally have the option to determine by contract beforehand whether to subject themselves to contribution claims and, if so, whether such claims will be resolved by a publicly funded court or by a privately funded process, such as arbitration. Because …
Terror Cats: Tria’S Failure To Encourage A Private Market For Terrorism Insurance And How Federal Securitization Of Terrorism Risk May Be A Viable Alternative, Andrew Gerrish
Washington and Lee Law Review
No abstract provided.
Credit Ratings In Insurance Regulation: The Missing Piece Of Financial Reform, John Patrick Hunt
Credit Ratings In Insurance Regulation: The Missing Piece Of Financial Reform, John Patrick Hunt
Washington and Lee Law Review
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 directed federal financial regulators to remove credit ratings from their rules, but had nothing to say about the use of credit ratings by state insurance regulators. This omission is significant because insurers own nearly twice as many foreign, corporate, and municipal bonds as banks do. During the 2000s, state insurance regulators came to rely increasingly on rating agencies rather than the regulators’ in-house valuation office to assess the credit risks of these holdings. After the perceived widespread failure of ratings in the crisis, the insurance regulators did undertake a …
Independent Counsel In Insurance, Douglas R. Richmond
Independent Counsel In Insurance, Douglas R. Richmond
San Diego Law Review
Mention the term "independent counsel" to many lawyers and they think immediately of the process whereby the Attorney General of the United States requests a panel of federal judges to appoint an Independent Counsel to investigate and prosecute crimes by government officials. Business lawyers may think of "independent counsel" in the context of counsel for independent directors on a corporate board in connection with select matters. For most litigators, however, the term "independent counsel" describes a lawyer engaged to defend an insured at a liability insurer's expense in a case in which the liability insurer has lost the right to …
Enforcing International Insurers’ Expectations: Can States Unilaterally Quash Commercial Arbitration Agreements Under The Mccarran-Ferguson Act?, Mary Pennisi
Fordham Journal of Corporate & Financial Law
This Note examines the split in federal circuit courts created by Safety National Casualty Corp. on whether the MFA reverse-preempts the New York Convention and allows states to quash arbitration agreements in international insurance contracts.
Cargill V. Ace American Ins. Co.: The Minnesota Supreme Court Reminds Us Of The Value Of Every 2-Year-Old's Favorite Question, Chad Snyder
Journal of Law and Practice
No abstract provided.
Erisa Subrogation And The Controversy Over Sereboff: Silencing The Critics, The Divided Bench Is A Legitimate Standard, Ashley A. P. Frazier
Erisa Subrogation And The Controversy Over Sereboff: Silencing The Critics, The Divided Bench Is A Legitimate Standard, Ashley A. P. Frazier
Georgia Law Review
ERISA protects employees in the administration of
employer-sponsored benefit plans. When a party is injured
by third parties and a health and welfare benefit plan
governed by ERISA pays benefits, conflicts have arisen
between insurers seeking subrogation and individuals
seeking full recovery. Injured parties claim they should
not have to reimburse insurers while insurers deny
responsibility for damage caused by third parties. The
Supreme Court set the standard for plan fiduciary rights
to ERISA subrogation in Sereboff v. Mid Atlantic Medical
Services, Inc. Sereboff held that the plain wording of 29
U.S.C. § 1132(a)(3) means equitable relief available under
the …
Regulation Not Prohibition: The Comparative Case Against The Insurable Interest Doctrine, Sharo Michael Atmeh
Regulation Not Prohibition: The Comparative Case Against The Insurable Interest Doctrine, Sharo Michael Atmeh
Northwestern Journal of International Law & Business
American law requires an insurable interest—a pecuniary or affective stake in the subject of an insurance policy—as a predicate to properly obtaining insurance. In theory, the rule prevents both wagering on individual lives and moral hazard. In practice, the doctrine is avoided by complex insurance transaction structuring to effectuate both origination and transfers of insurance by individuals without an insurable interest. This paper argues that it is time to abandon the insurable interest doctrine. As both the English and Australian experiences indicate, elimination of the insurable interest doctrine will have little detrimental pecuniary effect on the insurance industry, while freeing …