October 7
Primer: Rescission of Insurance
An insurance policy is nothing more than a contract. It is a special type of contract because – by law – it contains an implied covenant of good faith and fair dealing. What that means is that neither party to the contract must do nothing to prevent the other from obtaining the benefits of the contract. When a prospective insured violates the covenant of good faith and fair dealing by misrepresenting or concealing a material fact that deceives an insurer to take on a risk that would not have been taken had the truth been known the law allows the insurer – upon a presentation of sufficient admissible evidence – to rescind the policy and treat it as if it never came into existence.
Andrew J. McMahon Named Guardian Chief Executive Officer
The Guardian Life Insurance Company of America’s Board of Directors announced that Andrew J. McMahon became Chief Executive Officer and President on October 1 and has joined the Board. He succeeds Deanna M. Mulligan, who will serve as Board Chair through year-end, when she will retire after leading the company for a decade. The appointments […]
Brightway Insurance opens new Agencies in FL, NY and TX
While the country’s response to the Coronavirus has caused many business operations to pause, Brightway Insurance remains committed to customers and to people who want to build their own Brightway business with the holistic support the company offers. More consumers in Florida, New York and Texas now have access to more choice and expert counsel […]
Forbes Advisor Unveils First-Ever Best Life Insurance Companies Awards
Pacific Life was named top life insurance company of 2020, followed by Northwestern Mutual and Penn Mutual Life Insurance Co. Forbes Advisor, a trusted destination for money news and reviews, and a financial product marketplace, announced Pacific Life as the winner of its 2020 Best Life Insurance Companies Awards. Northwestern Mutual and Penn Mutual were […]
Public Wi-Fi – Panacea or Peril?
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Assistant Vice President/Media Editor Today’s technology allows for virtually instant 24/7/365 access to information, entertainment, friends and family. Wi-Fi access is everywhere – from the donut shop to the mall to hotels and restaurants. As convenient as it may be to check your e-mail at […]
Cuomo Announces $18 Million Initiative for Entrepreneurs in NY State
Training for Workers and Support Entrepreneurs During and After the COVID-19 Pandemic Federal Grant Will Be Used to Fund Educational Opportunities that Train New Yorkers for In-Demand Jobs, Support Entrepreneurs, and Help Small Businesses Recover New York Was One of Only Eight States in the Nation to Receive a Grant and Was Awarded the Most […]
Restrictive Covenants For Insurance Producers: A Primer On Legal Enforceability
As States continue to diverge in their interpretation and enforcement of restrictive covenant agreements, it is now more important than ever to ensure those agreements are drafted to conform with jurisdiction-specific laws. By Harris S. Freier, Esq MAIN TYPES OF RESTRICTIVE COVENANTS There are generally four main categories of restrictive covenants to consider in employment […]
New Amendments to Delaware General Corporation Law Will Make It Easier for Companies to Become Public Benefit Corporations
Elizabeth K. Lange & Elizabeth A. Diffley On July 16, 2020, Delaware adopted new amendments to its public benefit corporation statute, continuing a trend to make this relatively new corporate form more accessible. The amendments, among other things, (i) reduce impediments to use of the public benefit corporation form by eliminating supermajority voting requirements and […]
