TransUnion has announced the launch of its new National Driving Record solution for the personal, commercial and life insurance industries. This one-stop solution combines DriverRiskSM court records with state Motor Vehicle Reports (MVRs) for a more comprehensive view of a person’s driving record at a reduced cost. This is accomplished by bringing together TransUnion’s extensive […]
An “Occurrence” Must Be Fortuitous Ohio, bucking the majority of court opinions, has interpreted the standard Commercial General Liability (CGL) policy to require for coverage to exist that a loss is fortuitous. An “occurrence” to Ohio courts require that the damage is accidental, fortuitous, and not a normal business risk of a person in the […]
Monaghan v Roman Catholic Diocese of Rockville Ctr. This lawsuit arose out of the alleged sexual abuse of a child by a Catholic priest. The Diocese moved to dismiss some of the causes of action, and Supreme Court denied the motion. But the Appellate Division reversed, and held that there is no legal duty for […]
by Eric Weisbrot Businesses large and small have two main options for protection – surety bonds and insurance coverage. While some use the terms interchangeably, there are differences between the two that should be understood. Both insurance and surety bonds have unique features that fit specific protection needs, either for the business itself or for […]
by Bill Marcoux (Partner) and Nicholas Kourides (Senior Counsel), DLA Piper
Reprinted with permission.
Insurance regulation is at a crossroads. Faced with an increasingly globalized and dynamic industry, the painful lessons of the financial crisis, dramatic and disruptive advancements in the use of technology, creeping protectionism and nationalism in many markets, competing regulatory agendas and good faith differences in regulatory approaches, insurance regulators are at an important juncture and have the chance to chart their course for the near to mid-term. The choices they make could lead to greater regulatory effectiveness and efficiencies, or result in further Balkanization of regulation and an ever heavier, costlier and at times conflicting set of regulatory rules for insurers. The potential impacts on the insurance industry and those consumers who rely on it are significant.
Just to pass along some new data on small business employee satisfaction, the category of most agencies, it appears that the triumphs and challenges of small businesses can augur the mega trends of the American economy. Aflac just conducted its 2018 Small Business Happiness Survey with 1,000 small business employees across the U.S. to determine […]
About 15 years ago, the Professional Insurance Agents of New York State received a call from Phil Gusman, who at that time was the editor of the Insurance Advocate, requesting I write a column for the publication. I was eager to do it. Some people told me this wouldn’t last two months … And here […]
Development Corporation for Israel/Israel Bonds, the underwriter of debt securities issued by the State of Israel in the United States, held its Insurance Division Luncheon on October 17, 2018. Spanning over several decades, the annual event drew more than 255 industry professionals to the St. Regis Hotel in New York, and honored Keith J. Wolfe, […]
Because of the proliferation of lawsuits among white collar employers challenging employee terminations, even those that appear to be completely valid on their face, it is important for insurance industry executives to make sure that each termination, no matter how justified it appears, is thoroughly vetted prior to termination. Here is a modern checklist that […]
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