Two Volumes Contain Key Statistics on State Insurance Department Resources and Regulatory Activities The National Association of Insurance Commissioners (NAIC) released the 36th edition of the Insurance Department Resources Report (IDRR), which is developed primarily through an extensive survey of the NAIC Member states. Divided into two volumes, the report helps state insurance departments assess […]
Goal is to Help Insurers Keep Pace with Evolving Risks υ To help insurers keep pace with the changing nature of today’s business exposures, as well as increase profitability and expand into new markets, Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider, has announced the launch of its latest update to the […]
Michigan’s Mike McBride leads national association for 2023-24 term The Independent Insurance Agents & Brokers of America (the Big “I”) installed Michigan’s Mike McBride, president of Mason-McBride in Troy, as the 2023-2024 Big “I” chairman at the recent Big “I” Fall Leadership Conference in Grand Rapids, Michigan. With over 35 years of experience in insurance […]
If Insurer Agrees to Defend Insured May Not Expect it to Pay Independent Counsel The Insureds sued Mid-Continent for failing to pay their attorneys’ fees in defense of the underlying lawsuit where the Insureds alleged several causes of action against Mid-Continent, including breach of contract, bad faith, and several Insurance Code violations. Mid-Continent filed a […]
Rescission Results in Policy Void From its Inception Imperial Casualty and Lloyd’s Underwriters retained me in the 1980’s to advise concerning the fire claim presented by Levon Sogomonian and his wife as a result of a major arson fire and explosion that destroyed their home. The investigation took more than a year, multiple days of […]
Attorneys May Not Be Sued for the Tort of Bad Faith For many years lawyers for policyholders have sued insurer’s lawyers for the tort of bad faith to avoid federal court. I was sued dozens of times in spurious lawsuits claiming that drafting a denial letter was sufficient to sue me personally as the lawyer […]
Situs of Assault Does not Create Coverage A coverage dispute arose from the sexual assault of a special needs student aboard her school bus. National Liability and Fire Company sought a declaration that it had no duty to defend or indemnify the bus company or its school district client in a state court action brought […]
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