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Texas Takes the Lead on Notice Disputes Under Claims-Made Liability Policies
A common requirement in both occurrence and claims-made liability insurance policies is that policyholders provide “timely notice” of an accident, occurrence, claim or lawsuit ' often “as soon as practicable.” Although specific notice provisions vary among different liability policies, the purported purpose of these notice requirements is to enable insurance companies to investigate and respond to claims. See Ostrager & Newman, Handbook on Insurance Coverage Disputes, Vol. 1, ' 4.01[a] at 135 (14th ed. 2008).
In some jurisdictions, insurance companies used to be able to successfully deny coverage based on a policyholder's failure to comply strictly with notice provisions, even if the carrier could not demonstrate any prejudice by virtue of the delay. See, e.g., Argo Corp. v. Greater N.Y. Mut. Ins. Co., 827 N.E.2d 762, 765 (N.Y. 2005); Great Canal Realty Corp. v. Seneca Insurance Co., Inc., 833 N.E.2d 1196 (N.Y. 2005); Unigard Sec. Ins. Co. v. N. River Ins. Co., 594 N.E.2d 571, 573 (N.Y. 1992); Sec. Mut. Ins. Co. v. Acker-Fitzsimmons Corp., 293 N.E.2d 76 (N.Y. 1972); Travelers Indem. Co. of Illinois v. United Food and Commercial Workers Int'l Union, 770 A.2d 978, 991 (D.C. 2001); Viani v. Aetna Ins. Co., 501 P.2d 706 (Idaho 1972), overruled in part on other grounds, Sloviaczek v. Estate of Puckett, 565 P.2d 564 (Idaho 1977); Country Mutual Ins. Co. v. Livorsi Marine, Inc., 856 N.E.2d 338, 346 (Ill. 2006); State Farm Mut. Auto Ins. Co. v. Cassinelli, 216 P.2d 606 (Nev. 1950). Over the years, however, courts in many jurisdictions followed the trend of relaxing those rules requiring strict compliance with notice provisions and instead applied a “prejudice” standard, particularly in disputes involving occurrence-based liability policies.
Bankruptcy Sales: Finding a Diamond In the Rough
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.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.