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Excess 'Follow Form' Policy Obligations: Determined By Primary Policy, Not By Primary Insurer
Liability policies affording excess coverage as part of a multi-layer liability insurance program commonly 'follow form' to the program's primary policy. These follow form policies are generally subject to the same terms and provisions as are contained in the primary policy, with certain standard exceptions (e.g., provisions regarding limits of liability, premium, notice, etc.) and other provisions that may be unique to a particular insured or risk. It stands to reason that excess insurers, in order to properly evaluate and price a risk and in agreeing to cover it, would rely at least to some extent on the followed terms and provisions of the primary policy and on the expectation that such terms and provisions will be applied as written.
However, it is not uncommon for primary insurers to pay policy limits in situations where a loss is arguably not covered or where coverage is validly disputed under the primary policy's terms. A primary insurer may decide to pay in such situations for business reasons (e.g., to win a lucrative renewal, build goodwill with an insured or broker, avoid costly negotiation or litigation, or save its own excess policy higher up in the program) or perhaps because it concluded, based on its own mistaken interpretation of policy terms, that there is coverage. Such a decision may not always be consistent with the interests or interpretations of a follow form excess insurer, and an issue may arise as to whether the excess insurer is bound by the primary insurer's actions.
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.
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.
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.
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.
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.