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 […]
By Harris S. Freier, James W. Sukharev 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. MAIN TYPES OF RESTRICTIVE COVENANTS There are generally four main categories of restrictive covenants to consider […]
Analysis by Genevra Burns Law Offices, New Jersey Affinity Brokerage relationship can present regulatory risk. On September 5, 2019, the State of New Jersey, Department of Banking and Insurance entered a Consent Order in the Matter of Proceedings by the Commissioner of Banking and Insurance, State of New Jersey, to fine Lockton Affinity, LLC, Reference […]
By Katlin Nash ALBANY, N.Y.—The New York State Court of Appeals will be hearing oral arguments in the case of Roman Catholic Diocese of Brooklyn v. National Union Fire Insurance Company of Pittsburgh, PA. The lawsuit filed against the Roman Catholic Diocese of Brooklyn and Reverend James Smith in 2003, the daughter of a church […]
On November 19, 2012, the New York Court of Appeals – the highest court of the State of New York, apparently strengthened the rights of policyholders as against their insurance brokers. In American Building Supply Corp. v. Petrocelli Group, the plaintiff-insured was required by its lease to obtain general liability insurance in the m i […]
Licensed insurance producers in New York often subject themselves to unnecessary disciplinary action by the State of New York Department of Financial Services (“DFS”). Of course there are serious issues with misappropriating premium funds and other untrustworthy or egregious conduct, but the tips below address more routine and procedural issues, which, if complied with, can […]
ANew York State court has ruled that an asbestos defendant is entitled to full defense from its primary insurance company for certain asbestos liabilities, with the primary insurance company paying all defense costs for covered claims that are not paid by other insurers. In Travelers Casualty and Surety Company v. Alfa Laval Inc., Hon. Debra […]
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