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All Sums Great And Small
How is loss allocated when bodily injury or property damage occurs in several successive policy periods? Can the insured choose the policy that it wishes to cover the loss, limiting itself to one deductible and forcing a single year”s primary (and excess) policy to respond? Or consistent with the policy, the rules of construction, and prudent public policy, should the loss be allocated evenly to each policy period in which injury or damage occurred ” allocating to the insured loss falling within each policy”s deductible and every period for which the insured is without insurance?
In answering these questions, courts have applied either the “all-sums” approach first set forth in Keene Corp. v. Insurance Co. of North America, 667 F.2d 1034 (D.C. Cir. 1981) or the “pro rata” approach pioneered in Insurance Co. of North America v. Forty-Eight Insulations, Inc., 633 F.2d 1212 (6th Cir. 1980). Courts across the country remain divided on which approach is the most sound as a matter of law and public policy. Moreover, as many as 20 states have either no or very limited case law on this complex and often hotly disputed subject, making predictions on outcomes in those jurisdictions difficult. Simply put, the results in Long-Term Exposure (“LTE”) cases are driven by the state law governing the dispute. And in many cases, that law is limited, leaving to insurers and their counsel the delicate task of predicting which set of competing principles a court will apply to an often-intricate array of facts.
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.