Reed Smith LLP on Versai Management Corp. v. Clarendon America Insurance Co.: Proving Business Income Losses Through Company Officers and Not Forensic Accountants

By Richard Lewis, Partner, Reed Smith LLP In Versai Management Corp. v. Clarendon America Insurance Co. , the court concluded that a policyholder need not prove the magnitude of its Business Income claim through an expert forensic accountant, but instead could rely on the testimony of the company’s...

Insurance Implications in the Wake of Hurricane Irene

After Hurricane Irene, individuals and businesses will face property losses and interruption of business and will look to insurers for coverage of these multi-faceted losses. To remain up-to-date on the coverage issues raised by Hurricane Irene and similar natural events, we invite our Community to access...

McCarter & English on Fifth Circuit Panel Affirms Award of Lost Business Income Based on Post-Loss Economic Conditions

By Mark D. Villanueva, Associate, McCarter & English, LLP The Fifth Circuit Court of Appeals in Berk-Cohen Assocs. v. Landmark Am. Ins. Co. , 2011 U.S. App. LEXIS 14911 (5th Cir. July 20, 2011) recently considered whether an insured may recover for business interruption losses based on a post...

CaseWatch: Insurance – Decisions from The Insurance and Reinsurance Report – December, 2011

Lexis.com subscribers may access the enhanced versions of the cases above. Non-subscribers may access the free, unenhanced versions on lexisONE , if available. Actions and Proceedings C.R. Pittman Constr. Co., Inc. v. Nat'l Fire Insurance Co. 2011 U.S. App. LEXIS 20002 [ lexis.com / lexisONE...

SNR Denton on Oubre v. Citizens Insurance Co.: Louisiana Supreme Court Clarifies Penalty Statutes

By William T. Barker, Partner, SNR Denton In Oubre v. Citizens Insurance Co., a divided Louisiana Supreme Court resolved a split in the courts of appeals by holding that the statutory penalty for an insurer's failure to timely initiate loss adjustment may be assessed without any showing that...

Duane Morris: Key Ruling for Insurance Companies in Equitable Subrogation Action in U.S. District Court in Florida

In QBE Insurance Corporation v. Jorda Enterprises (Free Download), Judge Alan Gold of the U.S. District Court for the Southern District of Florida granted summary judgment to HVAC subcontractor Jorda Enterprises Inc., who was insured by The Hartford Insurance Company, in an equitable subrogation action...

Perkins Coie LLP on Court Confirms $20M Settlement with Louisiana Citizens for Late Claim Payments After Hurricanes Katrina and Rita

By Aaron D. Coombs, Associate, Perkins Coie LLP District Judge Kern Reece of Orleans Parish, Louisiana, approved a $20 million class-action settlement with Louisiana Citizens Property Insurance Company on January 30, 2013, for claims related to the insurance company's alleged untimely payment...