Lawsuits are one of the risks and challenges that many businesses will face each year. As many policyholders discover when they are confronted with a liability claim, the liability carrier often selects and controls the defense for the policyholder. This article advises and explains that businesses should be aware, however,...
Byline: Policyholder advocate has found what may be 'insurmountable' differences Byline: Policyholder advocate has found what may be 'insurmountable' differences
A federal district court in Oklahoma has ruled that computer data destroyed by a policyholder while servicing a computer is not tangible property within the meaning of the property damage definition in a contract for general liability insurance. The court also held that loss of use of the computer itself...
Liability policies provide two primary benefits to the policyholder: the promise to pay the policyholder's defense in a suit brought against him and the promise to pay a possible judgment or settlement on behalf of the policyholder. Both promises are important, but it is the promise to defend that often...
Byline: Judy Greenwald Royal Indemnity Co., a major part of Royal & SunAlliance USA Inc.'s operations, which are now in runoff, has a potential reserve shortfall of nearly $1 billion, according to a special policyholder report. Policyholder Byline: Judy Greenwald...
This paper is about the rights of a policy holder. A policyholder should be aware, however, that on occasion, the insurance company's interests may not be precisely the same as the policyholder's. As the policyholder, you have certain rights ù including the right to monitor the insured-led defense. Here are...
A California intermediate appellate court has ruled that a first party property insurance policy does not cover the loss of computer data resulting from a computer system “crash.” The appellate court affirmed a trial court’s judgment that no coverage exists where a computer data loss is unaccompanied by the destruction...
The Internal Revenue Service has changed its rules regarding policyholders who exchange annuity and life insurance policies. If a policyholder leaves an insolvent insurer but immediately reinvests the cash in another policy, the policyholder will not be tThe Internal Revenue Service has changed its rules regarding policyholders who exchange annuity...
HARRISBURG, Pa. - CIGNA Corp. is arguing in a Pennsylvania court that its critics have no right to appeal the regulatory approval of its reorganization, even though it is arguing otherwise in coverage litigation elsewhere, a policyholder attorney conteHARRISBURG, Pa. - CIGNA Corp. is arguing in a...
In a recent decision, a Texas intermediate appellate court ruled that a first party property insurance policy might cover lost computer data and lost business income resulting from a hacker attack. The policyholder was an employment agency that matched prospective employers and employees for a fee. In February 2000, the...
Research, policyholder surveys lead to some 'eye-opening successes' at CNA E&S SAN FRANCISCO - Some surplus lines insurers are trying new tactics to tap into the commercial market. For example, rather than relying solely on the advice of managing Research, policyholder surveys lead to some 'eye-opening...
The legal defense process begins when an insurance claimant files a personal property or casualty suit against an Allstate policyholder. Allstate is contractually obligated to provide legal defense counsel for the policyholder. Some personal property and casualty suits are assigned to Allstate staff attorneys; others are assigned to outside attorneys.
Dec. 12--Hours before trial, Prudential Insurance Co. has settled a lawsuit filed in Pennsylvania in the case of a policyholder who claimed he was a victim of fraudulent sales practices that Prudential concedes cost thousands of other policyholder Dec. 12--Hours before trial, Prudential...
Just having insurance coverage in place does not guarantee that one’s loss will be fully reimbursed. A final settlement can be affected by the policyholder’s actions from the moment the loss occurs. From securing the loss site and notifying the insurer to agreeing on the final settlement, the policyholder needs...
Court Rules For Asbestos Policyholder A New Jersey Superior Court ruling has found a group of insurers liable for payment of up to $960 million worth of asbestos-related claims brought against Owens-Illinois Inc. between 1977 and 1985. The ruling Court Rules For...
Byline: Policyholder advocate for Aviva, Clare Spottiswoode, believes Pru counterpart could learn from her experiences Byline: Policyholder advocate for Aviva, Clare Spottiswoode, believes Pru counterpart could learn from her experiences
One of the biggest concerns of regulators when an insurer goes belly-up is whether there are any assets available to cover policyholder claims. A plan introduced last month by State Farm would go a long way toward alleviating some of those fears. ...
The attacks of September 11 stand to generate hundreds of thousand of property and business income claims. For each of those claims, insurers will be tasked with determining whether each claim satisfies the basic policy requirements governing the loss. In the case of business income claims and related claims for...
CUNA Mutual Group has introduced a new web application to help policyholder credit unions reduce check fraud. CUNA Mutual Group has introduced a new web application to help policyholder credit unions reduce check fraud.
Byline: MARK A. HOFMANN WASHINGTON-Allowing the public/private partnership that currently guarantees terrorism insurance to lapse would have severe economic consequences, according to a prominent policyholder representative. "Without terror Byline: MARK A. HOFMANN WASHINGTON-Allowing the public/private partnership that currently...
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