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The Upshot of ISO's Fault-Based Additional Insured Endorsement
It has been 10 years since the Insurance Services Offices, Inc. (“ISO”) issued the fault-based version of its CG 20 10 additional insured endorsement. The 2004 endorsement, Form CG 20 10 07 04, replaced the widely litigated phrase “arising out of” with a more restrictive requirement that the additional insured's liability be “caused, in whole or in part, by” the “acts or omissions” of the named insured. ISO touted the 2004 revisions as the industry's solution to the overly broad judicial interpretations of “arising out of” that have afforded coverage for the additional insured's sole negligence and other unintended transfers of risk. Nevertheless, ISO's effort to achieve a narrower interpretation has been met with inconsistent and sometimes perplexing results. Some courts have interpreted the endorsement as requiring negligence while others have limited the coverage grant more strictly to vicarious liability.
Many courts have wrestled with the requisite degree of fault or how to interpret the duty to defend in the typical scenario where the named insured employed the claimant and is immune from direct allegations of fault. To further complicate matters, a new shift to a “no-fault” interpretation of the endorsement has recently gained traction in New York. With many issues still unresolved and litigation over the endorsement on the rise, ISO's fault-based additional insured endorsement seems to be proving no less troublesome than its predecessor.
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?
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
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.