GUARD Insurance Group has announced the immediate availability of a new Disability insurance product in New York. Statutory coverage will be offered through independent agents appointed by GUARD for the state, and a number of optional enhancements will be available. According to GUARD’s Executive Vice President of Insurance Operations Marshall Kornblatt, “We see Disability Benefits […]
So what is incredibly popular, attracts 17,000 athletes from 205 countries, encompasses 26 different sporting competitions, and took place in London, England, for two weeks? Well, to most people it is the Olympics; however to someone in the insurance industry it was just another huge sporting event that needs to be insured. As reported in […]
In an action to recover damages for breach of contract, the defendant appeals from an order of the Supreme Court, Nassau County (Cozzens, Jr., J.), entered December 12, 2011, which denied its motion for summary judgment dismissing the complaint. ORDERED that the order is affirmed, with costs. The plaintiffs alleged that, in February 2010, they […]
This court entered an order (“Liquidation Order”) on November 20, 1997, pursuant to which U.S. Capital Insurance Company (“U.S. Capital”) was adjudged to be insolvent and placed into liquidation. The Liquidation Order appointed the then- Superintendent of Insurance and his successors in office as Liquidator of U.S. Capital. Benjamin M. Lawsky, the Superintendent of Financial […]
Judge Eileen Bransten in the Supreme Court of New York has reaffirmed a decision that may have a wide-ranging effect on the ability of workers compensation insurance companies to enforce the arbitration clauses contained in their workers compensation insurance policies. In National Union Fire Insurance Co. et al. v. Source One Staffing, LLC., Index No. […]
We’ve all heard the adage: “Don’t put all your eggs in one basket.” But many of us have broken this golden rule. We get comfortable with one company because it is easy to do business with or because it has been great with claims for our clients in the past, and we build our book […]
The insurance and financial industries are constantly seeking new risk spreading options. In recent years these new options have included, among other things, cat bonds, sidecars, special purpose vehicles and insurance linked securities. Alternative risk facilities and options exploded on the scene in the 1980s as a result of tremendous swings in capacity and availability. […]
Almost every day, we are reminded of the injury risks attendant to participation in organized sports. The question presented in this personal injury action is whether a college baseball pitcher assumed the risk of injury associated with his participation in indoor practice. We conclude that plaintiff Bukowski assumed the inherent risk of being hit by […]
For uninsured motorist coverage to apply, vehicle liability policies provide that the injury to the insured must be “caused by accident and arise out of the ownership, maintenance, or use of an uninsured auto.” The “arising out of ” clause defines the required causal link between the uninsured vehicle and the injury. Insurers have consistently […]
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