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Insurers' Response to Nanotech Suits
Insurers, policyholders, and the plaintiffs' tort bar anticipate that nanotechnology claims may soon be a serious source of potential liability even though no lawsuits have yet been filed and great uncertainty exists about the adverse effects, if any, of exposure to nanomaterials. See Connie Germano, Managing the Emerging Risks of Nanotechnology, John Liner Rev., Summer 2008, at 30; Linda K. Breggin & Leslie Carothers, Governing Uncertainty: The Nanotechnology Environmental, Health, and Safety Challenge, 31 Colum. J. Envtl. L. 285 (2006); Ronald C. Wernette, The Dawn of the Age of Nanotorts, Prod. Safety & Liab. Rep., Apr. 2009; Stephen Goldberg, Nanotechnology May Be Tiny, But Exposures Could Be Huge, P&C Nat'l Underwriter, Dec. 7, 2009. Many commentators have encouraged policyholders and insurers to take steps now to assess exposures and implement risk management controls. See, e.g., Kristine L. Roberts, Nanotechnology and the Future of Litigation, Litig. News, Winter 2010, at 6, 7-8; Lloyd's, Risks: Lloyd's Emerging Risk Team Report (2007).
The vacuum of information concerning risks posed by nanotechnology and nanomaterials makes risk management planning difficult, if not impossible. See Robin Fretwell Wilson, Symposium: How Do We Develop Regulatory Policy in the Context of Limited Knowledge About the Risks, 34 J.L. Med. & Ethics 704 (2006); Breggin, supra. This article addresses that gap and explores the insurance implications of the likely “first wave” of lawsuits ' suits arising out of exposure to nanomaterials in the absence of evidence of actual physical injury or harm. It explores three scenarios where plaintiffs are likely to be exposed to nanomaterials in the near future. Nanotech suits are likely to raise many of the same coverage questions that apply to more traditional and well-known liabilities, but the uncertainty regarding nanotechnology's potential for harm and its unique nature mean that past experiences (and judicial decisions) provide only limited guidance.
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.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
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?
Blockchain Domains: New Developments for Brand Owners
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.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.