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Under-Utilization of the Cooperation Clause and Related Policy Conditions
Recently, a number of insurance industry clients have been bringing to my attention with increasing frequency questions regarding an insured's duty to cooperate. The questions have been much more frequent with respect to first-party coverage. Thus, I thought this would be an opportune time to address these issues.
There are numerous “standard” conditions in various types of liability and first-party insurance policies. One common condition is the “cooperation clause.” First-party policies often have several clauses that require the insured to cooperate during the investigation and processing of claims. Typical conditions in a first-party policy, in addition to the cooperation clause, would include the condition mandating that an insured provide a proof of loss, as well as the condition mandating that an insured provide necessary documents to process a claim, and then submit to an examination under oath.
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.