5th Circuit Panel Unable To Resolve Dispute Over Hurricane Post-Loss Assignments

NEW ORLEANS - (Mealey's) In light of the Louisiana Supreme Court's May 10 answer to a certified question regarding post-loss assignments, the Fifth Circuit U.S. Court of Appeals on June 28 found that it is unable to resolve an appeal by more than 200 insurers challenging approximately 151,000...

Jury: Insured Incurred $4 Million In Covered Hurricane Wilma Damages Under Excess Policy

FORT LAUDERDALE, Fla. - (Mealey's) A jury in the U.S. District Court for the Southern District of Florida on Jan. 30 found that a Florida property manager insured incurred $4 million in covered losses from Hurricane Wilma, rendering a verdict against the excess insurer following a 10-day trial (...

U.S. Supreme Court Denies Insurer's Motion To Stay Reinstated $92.9 Million Judgment

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on Jan. 31 denied an insurer's motion to stay pending the filing and disposition of a petition for a writ of certiorari of a $92.9 million judgment that was reinstated against it in a class action lawsuit arising from hurricanes Katrina and...

Supreme Court Refuses To Hear Insurer's Appeal Of Reinstated $92.9 Million Judgment

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on June 25 denied an insurer's petition for a writ of certiorari challenging the Louisiana Supreme Court's finding that every member of a class of more than 18,000 insureds was entitled to recover the maximum $5,000 civil penalty based...

Judge: World Trade Center Properties Cannot Recover Against Aviation Defendants

NEW YORK — (Mealey’s) World Trade Center Properties LLC and its holding companies’ $4.09 billion insurance recovery stemming from the Sept. 11, 2001, terrorist attacks corresponds to and offsets their maximum potential tort damages recovery of $2.8 billion, a New York federal judge...

2nd Circuit: $5M Contingent Payment Pursuant To Sept. 11 Settlement Not Triggered

NEW YORK — (Mealey’s) The Second Circuit U.S. Court of Appeals on June 9 found that a lower federal court erred in ordering the WTC Captive Insurance Co. Inc. to make a $5 million first contingent payment pursuant to the settlement of personal injury claims filed against the City of New York...

U.S. Supreme Court Rejects Saudi Arabia’s Appeal Disputing Reopening Of 9/11 Suit

WASHINGTON, D.C. — (Mealey’s) The U.S. Supreme Court on June 30 refused to hear the Kingdom of Saudi Arabia’s appeal of the Second Circuit U.S. Court of Appeals’ finding that a lower federal court erred in denying insurers’ motion to reopen a judgment that dismissed sovereign...

U.S. High Court Denies Appeal In Suit Over Sept. 11 Toxic Dust Cleanup Costs

WASHINGTON, DC. — (Mealey’s) The U.S. Supreme Court on Dec. 1 rejected a petition challenging the Second Circuit U.S. Court of Appeals’ finding that defendants in a Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) lawsuit can raise an “act of war”...