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In complex coverage cases involving 'long-tail' claims (such as asbestos bodily injury claims or property damage claims related to environmental pollution), decades of insurance policies can be put at issue. In many states, the policyholder's losses will be spread across the years in which the injury or property damage occurred on a proportionate basis, typically referred to as 'time on the risk' or pro rata allocation. E.g., Security Ins. Co. of Hartford v. Lumbermens Mut. Cas. Co., 826 A.2d 107, 116 (Conn. 2003); Sharon Steel Corp. v. Aetna Cas. & Sur. Co., 931 P.2d 127, 141 (Utah 1997); Insurance Co. of N. Am. v. Forty-Eight Insulations, Inc., 633 F.2d 1212, 1224-25 (6th Cir. 1980).
In New Jersey, a continuous trigger and a modified pro rata allocation apply to cases involving progressive injury or damage over multiple years. E.g., Carter-Wallace, Inc. v. Admiral Ins. Co., 712 A.2d 1116, 1123-24 (N.J. 1998); Owens-Illinois, Inc. v. United Insurance Co., 650 A.2d 974, 995 (N.J. 1994). In Carter-Wallace, the New Jersey Supreme Court explained that the policyholder's total loss would be apportioned across years based on the 'degree of the risks transferred or retained' during each year in which injury or damage took place. Id. at 1121-22 (quoting Owens-Illinois). Thus, if a policyholder purchased more coverage in a particular year, a greater proportion of the loss may be allocated to that year than to years in which the policyholder purchased less coverage. While this approach seems straightforward, complications can arise if the policyholder did not only purchase policies with 'one-year' terms, but also purchased multi-year policies (ie, single policies providing coverage for more than 1 year and often over multiple annual periods). If the policyholder purchased multi-year policies, is the policyholder entitled to a single occurrence limit for the entire policy period, or can it claim a separate occurrence limit for each annual period that the policy was in effect?
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.