Insurance

This case matters to the insurance industry because of who stands behind debtors. National Indemnity Company, a subsidiary of Berkshire Hathaway, acquired the debtors’ parent companies years after the 2004 asset sale, later ceding its acquisition rights to fellow Berkshire affiliate Ringwalt & Lyche Co., which remains the debtors’ ultimate parent company. Through a series…

The Court acknowledged that the use of the term “cooperate” in the statute was ambiguous, as it could mean either the everyday sense of working together or the narrow, contract-specific meaning familiar in insurance law. Turning to legislative history, the Court examined testimony from the 2020 House Judiciary Committee hearing on the bill. MLAs were…

The insurance arrangement behind the supplemental coverage is where things get interesting for the industry. The actual policy was issued by ACE American Insurance Company, referred to in the case as Chubb. Under that policy, Chubb was the insurer, Hertz was the named insured, and Rakhimov and the passengers were additional insureds. Claims handling is…

This is where the insurance battle begins. All Island’s Commercial General Liability policy with Peerless includes two additional insured endorsements, both linked to the same trigger – coverage applies for bodily injury caused, in whole or in part, in the course of ongoing operations by the acts or omissions of the named insured, or by…

The real jewel in the partnership, however, is something called Risk Perspective – a content series that will be live on F1.com and the official F1 app, examining nine specific circuits where drivers and teams must understand risk, adapt under pressure and make decisions in a fraction of a second. This is, frankly, fantastic. Not…

After suing Clippinger, State Farm introduced appraisal clauses in insurance policies, which allow either party to seek a binding independent appraisal if they cannot agree on payment. Three appraisers presented three different numbers. State Farm’s appraisal came in at $14,432 – actually less than the original payment. Clippinger’s appraiser said $17,756.69. The neutral third appraiser…

After suing Clippinger, State Farm introduced appraisal clauses in insurance policies, which allow either party to seek a binding independent appraisal if they cannot agree on payment. Three appraisers presented three different numbers. State Farm’s appraisal came in at $14,432 – actually less than the original payment. Clippinger’s appraiser said $17,756.69. The neutral third appraiser…

The facts are very old. During World War II, the federal government leased and later expanded Chino Airport for wartime operations, including dismantling and melting surplus aircraft into ingots. Those activities generated significant industrial waste which was discharged into the ground. In the 1960s and 70s, during the Vietnam War, the airport’s tenants produced napalm,…

According to a news release, Hoffmann has nearly two decades of experience within the Allianz Group, having served in senior roles including head of Insurance Ibero-Latam and director of financial advisory and investment risk principal at Allianz Life Insurance North America. Since 2019, he has served as CFO of Allianz Direct, where he helped establish…

The most important of the three is Senate Bill 10017, which Senator Bailey filed on April 22. It targets Section 4228 of the Insurance Act, the provision that sets rules for how life insurance and annuity companies pay their agents and brokers. Under current law, the Superintendent is required to periodically adjust the training allowance…