Michael F. Derksen
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In a decisive victory for policyholders, Judge Thomas Vena of the Essex County Superior Court in New Jersey ruled that significant damages incurred by Public Service Enterprise Group Inc. (“PSEG”) as a result of storm surge flooding caused by Superstorm Sandy were not subject to the relevant policies’ sublimit of $250M for losses caused by … Continue Reading
On Monday, President Barack Obama signed into law a six-year extension of the Terrorism Risk Insurance Program after the House and Senate passed the bill by votes of 416-5 and 93-4, respectively. As we previously reported, Congress’ failure to extend the program, under which the federal government is responsible for a substantial share of insured … Continue Reading
Congress’ failure to renew the Terrorism Risk Insurance Program Reauthorization Act (“TRIPRA”), a 2007 extension of the 2002 Terrorism Risk Insurance Act, could have significant implications for companies that rely upon property or casualty policies to manage risk. TRIPRA expired on December 31, 2014, potentially triggering policy endorsements that exclude coverage, previously provided under those … Continue Reading
Companies that do business with the federal government, or whose business transactions otherwise involve payments by the government, undoubtedly understand the exposure they face to “whistleblower” or “Qui Tam” lawsuits brought by private individuals on behalf of the government alleging fraud under the False Claims Act. But it may surprise them to know that the … Continue Reading
New York state court Judge Shirley Werner Kornreich recently ruled that American International Group, Inc. (“AIG”) didn’t have to pay certain defense costs for various suits brought against QBE Holdings, Inc. and its affiliates (collectively, “QBE”), but that QBE’s other insurer Darwin Select Insurance Co. (“Darwin”) did, despite the apparent similarities in language of the … Continue Reading
In a decisively pro-policyholder decision issued by the United States Court of Appeals for the Sixth Circuit in IMG Worldwide, Inc. v. Westchester Fire Ins. Co., Nos. 13-3832, 13-3837 (6th Cir. July 15, 2014), the court righted a wrong in not only affirming a jury’s finding that an excess carrier had breached its duty to … Continue Reading
New Jersey State Court Rules Damage Caused by Superstorm Sandy Not Subject to Flood Sublimit
By Michael F. Derksen on Posted in Property Damage
Terrorism Risk Insurance Program Reauthorized, But Some Uncertainty Remains
By Michael F. Derksen on Posted in Commercial General Liability (CGL), Terrorism Risk Insurance Program Reauthorization Act
Policyholders Face Uncertainty after Lapse of Terrorism Risk Insurance Program
By Michael F. Derksen and Ronald A. Valenzuela on Posted in Commercial General Liability (CGL), Terrorism Risk Insurance Program Reauthorization Act
“Prior or Pending Litigation” Exclusion Bars Coverage for Litigation that Was Unknown to Policyholder
By Michael F. Derksen on Posted in Commercial General Liability (CGL), False Claims Act
New York State Court Rules That Darwin Has Duty to Defend but AIG Does Not, for Same Risk, Based on Differing Policy Language
By Michael F. Derksen on Posted in Commercial General Liability (CGL)
Sixth Circuit Finds Excess Carrier Had Duty to Indemnify Insured for Property Damage Arising From Alleged Misrepresentations and Duty to Defend When Primary Carrier Wrongfully Denied Coverage
By Michael F. Derksen on Posted in Property Damage
