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Readers will recall that in our December edition, I wrote with some alarm about the European Commission's proposals to revise anti-trust law affecting…
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The efficiency, ease and convenience of online recruiting and interviewing have made for instant hiring success among companies in all industries employing this effective, low-cost, easy-to-use, flexible staffing method. <br>But, as with all technologically delivered gains, online recruiting can have some drawbacks, and knowledge of these and preparation for dealing with them in the event they pop up will help to ensure e-commerce enterprises a fruitful ' and low-liability ' undertaking.
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In the first New York appellate ruling on the constitutionality of a federal ban on unsolicited advertising faxes, the Appellate Term in Brooklyn reversed two lower courts and declared that the law does not impinge on First Amendment protections for commercial speech.
Features
Highlights of the latest insurance cases from around the country.
Features
Today's headlines are filled with stories about corporate scandals and trials of corporate executives accused of fraud, malfeasance, and incompetence. The natural fallout has been SEC investigations, hundreds of civil lawsuits, and criminal prosecutions. Directors' and officers' insurers ("D&O insurers") have seen a dramatic increase in claims as a result of these events. The initial battleground relating to the corporate scandal claims is whether there is a duty to defend or pay defense costs. The D&O insurers have asserted numerous defenses to providing a defense or paying defense costs. One defense that is being asserted frequently is rescission or "unilateral" rescission (collectively "rescission"). The rescission defense attempts to extinguish the policy by declaring it void <i>ab initio</i>. Recently, the majority of courts that have considered rescission have rejected it or deferred consideration of it, while ordering the D&O insurer to pay for, or provide the policyholder with, a defense. This article discusses recent cases that have addressed insurers' rescission arguments and explores the arguments that rebut the rescission defense.
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Reinsurance, the insurance of insurance companies, arose in the 14th century, the same century that saw the rise of the Ming Dynasty and the decimation of Europe's population by the Black Plague. Despite its 600-year history, however, until recently, judicial decisions on reinsurance disputes were few and far between. Instead, "differences [were] often ... settled by handshakes and umpires[.]" <i>Sumitomo Marine & Fire Ins. Co. v. Cologne Reins. Co.</i>, 75 N.Y.2d 295, 298, 552 N.E.2d 139, 140 (1990). But with the flood of mass tort and environmental litigation in the last 20 years, there has been a rise in reinsurance litigation. One historic response to deflect protracted reinsurance litigation is the "follow the fortunes" doctrine. When courts and insurers talk about follow the fortunes, they may mean one of two similar concepts: follow the fortunes or "follow the settlements." While the follow the fortunes doctrine "requires reinsurers to accept a reinsured's good faith decision that a particular loss is covered by the terms of the underlying policy," the follow the settlements clause "requires reinsurers to abide by a reinsured's good faith decision to settle, rather than litigate, claims on that policy. <i>Commercial Union Ins. Co. v. Seven Provinces Ins. Co.</i>, 9 F. Supp. 2d 49, 66 (D. Mass. 1998), <i>aff'd,</i> 217 F.3d 33 (1st Cir. 2000), <i>cert. denied,</i> 531 U.S. 1146 (2001). Typically, the follow the fortunes doctrine is implied in the reinsurance contract whereas the follow the settlements clause is a specific provision in the agreement. While these doctrines share the underlying predicate of "good faith," this article focuses on the follow the fortunes doctrine: the doctrine that requires a reinsurer to indemnify its reinsured whenever the reinsured makes a good faith payment of an insured loss.
The hours have been billed, the client invoiced and the payment recorded, what happens next in your firm? Does your financial management software preserve a detailed financial history? For many firms, once an invoice has been collected in full, the process of utilizing the associated data stops ' a hard copy of the invoice is filed and the numbers lie dormant in the financial system. This scenario is problematic because it does not allow for long-term flexibility in accessing and manipulating the data for best practices and/or analysis purposes. The truth is, many financial systems ' even those designed in the last few years ' don't maintain enough historic detail to solve tomorrow's problems.
Have you been looking at your Web site thinking it's time for a change? Want to make sure you are getting the most out of your Web site investment? Here are 20 simple ways you can spruce up and enhance your site, without breaking the bank in the process.
This little device would seem to come in handy in finding the hot spot zones without the necessity of taking out our laptops and powering up to see if we can connect. But when put to the test, it seems that Kensington has a few more hours of development in its schedule to make this thing give us a proper result!