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Multi-Year and Stub Policies: The Expectations and Economics of Providing Full Limits of Liability
When an insurance policy is written for a single year, little controversy exists regarding the limits of liability. Multi-year policies, those written for more than one annual period, and stub policies, those in effect for less than a year, are, however, becoming a source of disagreement. Particularly with long-tail claims such as asbestos, chemical exposures, and welding rod litigation triggering historic policies from the 1960s and 1970s, litigation on these issues is becoming ever more important. There is no established general rule regarding the available limits for these types of policies. Rather, courts apply a case-specific analysis of the evidence and policy language to determine the parties' intent regarding the policy's limits. Based on the policy language, or lack thereof, courts have, with limited exceptions, found full aggregate limits during each annual period for multi-year policies and an additional set of limits for stub policies. Such findings are supported by policy language, general legal principles, the economics of the parties' transactions, and industry practice.
Multi-Year Policies
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Major Differences In UK, U.S. Copyright Laws
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.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
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.
Strategy vs. Tactics: Two Sides of a Difficult Coin
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.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.