CO: Pinnacol Assurance Adds Business Ethics and Conflict of Interest Policies

Denver, CO (CompNewsNetwork) - Pinnacol Assurance established a new section on their website, Business Ethics. The section deals with business ethics and conflict of interest policies establishing the rules of conduct for persons who are officers and employees of Pinnacol Assurance. They are intended...

Duty to Defend – New Appleman on Insurance Law Library Edition, Chapter 17

By Seth D. Lamden, Partner, Neal, Gerber & Eisenberg LLP The chapter identifies and discusses many key issues that arise in the context of the duty to defend. This chapter begins in Section 17.01[1][a] with an overview of the scope and purpose of a liability insurer’s agreement to defend...

Download New Hampshire Life Settlements Act, Restricting STOLI Insurance Policies

New Hampshire Governor John Lynch (D) signed HB 660 into law which enacted life settlement legislation in New Hampshire effective June 14, 2010 (the "Act"). The Act is primarily based on the National Association of Insurance Commissioners' model, and, among other things, imposes restrictions...

Emerging Issues Analysis: SNR Denton on New York Marine & General Insurance Co. V, Lafarge v. North America, Inc.

By William T. Barker, Partner, SNR Denton In New York Marine & General Insurance Co. v. Lafarge North America, Inc. (“NYMAGIC”) 593 F.3d 102 (2nd Cir. 2010), the Second Circuit pointed out limits to an insured’s right to be defended by independent counsel, rather than counsel...

LexisNexis Announces Public Beta Release of LexisNexis Firm Manager

Web-Based Matter Management Program Offers a Secure, Inexpensive Way for Small Law Firms and Solo Practitioners to Run Their Practices NEW YORK, February 1, 2011 - LexisNexis , a leading global provider of content-enabled workflow solutions, today announced the public beta release of LexisNexis ®...

Responding to Independent Counsel Arguments Based on R.G. Wegman Construction Co. v. Admiral Insurance Co.

By William T. Barker, Partner, SNR Denton Counsel for insureds are likely to use the Seventh Circuit’s opinion in R.G. Wegman Construction Co. v. Admiral Insurance Co., 2011 U.S. App. LEXIS 679 (Jan. 14, 2011), as a basis to argue for broader rights of independent counsel than formerly recognized...

Goldberg Segalla’s Reinsurance Review – February, 2011

IN THIS MONTH'S EDITION: Circuit Court Reverses District Court and Determines that there is No Right to Injunction to Stop Arbitration Because No Showing of Irreparable Injury District Court Dismisses Case against British American Sua Sponte For Lack of Subject Matter Jurisdiction District...

Preferred vs. Common -- Who Is Commonly Preferred In Mergers?

By Steven Bartz Esq., Rahul Patel Esq. and R. Samuel Snider Esq. Introduction When a conflict of interests exists between preferred stockholders and common stockholders, to whom does the board owe duties and what duties does it owe? Under Delaware law, the basic rights of common stockholders...

SNR Denton on Weitz Co. v. Ohio Casualty Insurance Co.: Is an Insurer a Co-Client of Defense Counsel It Retains to Defend an Insured?

By William T. Barker, Partner, SNR Denton The Colorado federal district court in Weitz Co. v. Ohio Casualty Insurance Co. concluded that a Colorado liability insurer is not a client of defense counsel for its insured. That was correct on the facts before the court and its decision on the issue before...

Conflicts of Interest and Securitizations

The Big Short highlighted some of the difficulties of taking an investment position in a real estate downturn. The situation was taken a step further with Goldman Sachs' help in putting together mortgage backed securities with the primary purpose of helping a client take an investment position that...

How Your Elected Legislators Have Chiseled Away Your Legal Rights

By Keith Ecker, a reporter for Lawyers.com, www.lawyers.com/our-blog There is a battle being fought at the highest levels of government over your right to file a medical malpractice or defective drug lawsuit. On the one hand are pro-business groups that seek protection from crippling multi-million...

The Worst Conflict of Interest Move of All-Time (at Least Since Enron)

Last week, I observed one of the worst actions by a major league sports commissioner in my lifetime. Not the worst, as I will give that "worst award for a decision made by a sports commissioner in my lifetime", to either of two Baseball Commissioners; Ford Frick, for the * next to Roger...

SNR Denton on Lennar Corp. v. Transamerica Insurance Co.: Does a Right to Independent Counsel Entitle the Policyholder to Two Lawyers?

By William T. Barker, Partner, SNR Denton Lennar Corp. v. Transamerica Insurance Co. addressed the novel question whether an policyholder entitled to independent counsel could both accept representation by the counsel selected by the insurer and insist on payment of its own selected counsel as co...

New Appleman on Insurance Law Library Edition - § 16.04: The Tripartite Relationship Among the Insured, the Insurer and Insurer-Directed Defense Counsel

Section 16.04 of New Appleman on Insurance Law Library Edition deals with the relationship that exists between insureds, their insurers, and the insurer-directed legal counsel that insurers provide to their insureds. You can download a free copy of this section by clicking on the link below. Section...

Delaware Court of Chancery Rules on Motion to Disqualify and Motion to Revoke Pro Hac Vice Admission

Court Addresses Legal Ethics Violations; Requires Disclosure of Potential Conflicts in Future Pro Hac Vice Motions Manning v. Vellardita , C.A. No. 6812-VCG (Del. Ch. March 28, 2012), is an important decision of the Delaware Court of Chancery on legal ethics as applied to non-Delaware attorneys...

California Workers' Comp Case Roundup (5-4-2012)

CALIFORNIA COMPENSATION CASES Vol. 77 No. 4 April 2012 A Report of En Banc and Significant Panel Decisions of the WCAB and Selected Court Opinions of Related Interest, With a Digest of WCAB Decisions Denied Judicial Review CONTENTS OF THIS ISSUE © Copyright 2012 LexisNexis. All rights reserved...

New Appleman on Insurance Law Library Edition Cited by Missouri Supreme Court

The Missouri Supreme Court cited the chapter written by Douglas Richmond on agent and broker liability in the New Appleman on Insurance Law Library Edition several times in Emerson Electric Co. v. Marsh & McLennan Cos., 362 S.W.3d 7 (Mo. 2012) , a closely watched case in the brokerage community....

Workers' Comp Fraud Blotter (6/7/2012) – Former Criminal Court Judge Accused Of Ripping Off Workers’ Comp Clients

Each week we'll be surveying what the media, state agencies, insurance companies, and others report in terms of workers' comp fraud. Just like a police blotter, our workers' comp fraud blotter lists recent arrests, charges, convictions and investigations. Workers' Comp Fraud Blotter...

SNR Denton, US, LLP on Downhole Navigator, LLC v. Nautilus Insurance Co.: Fifth Circuit Concludes That Texas No Longer Allows a Policyholder to Demand Independent Counsel Merely Because the Insurer Offers a Defense under Reservation of Rights

By William T. Barker, Partner, SNR Denton Older Texas cases had indicated that, whenever a liability insurer offered a defense under reservation of rights, the insured was entitled to demand defense by independent counsel, at the insurer's expense. In Downhole Navigator, LLC v. Nautilus Insurance...

DLA Piper: Even In the Absence of a Demand, Do Insurers Have Duty to Pursue Settlement? A Ninth Circuit Panel Says Yes

By Joseph G. Finnerty III and Aidan M. McCormack, Partners, DLA Piper Confounding most observers, the United States Court of Appeals for the Ninth Circuit has issued a decision contradicting established insurance law jurisprudence in nearly every state. In Du v. Allstate Insurance Company, the court...

State Net Capitol Journal – September 3, 2012

Budget & Taxes LA LOOKING TO COLLECT ON OUTSTANDING DEBTS: The government of Louisiana is owed more than $1.5 billion by businesses, municipalities and others. And last month, a trio of financial experts offered the state advice on how it should go about collecting on that debt. Shawn...

State Net Capitol Journal – September 3, 2012

Budget & Taxes LA LOOKING TO COLLECT ON OUTSTANDING DEBTS: The government of Louisiana is owed more than $1.5 billion by businesses, municipalities and others. And last month, a trio of financial experts offered the state advice on how it should go about collecting on that debt. Shawn Romero...

Florida Appeals Court Squeezes Insurers: Must Appoint Separate Counsel For Each Insured

By Randy J. Maniloff, White and Williams, LLP Court Creates Sunshine State For Defense Counsel It is a question that I get asked regularly from clients: We have a duty to defend and there are four insureds (or any number greater than one). Do we need to retain separate defense counsel for...

Insured Entitled To Independent Counsel Even When Being Defended WITHOUT A Reservation Of Rights (Court Rejects ALI Draft Principle)

When it comes to an insured’s right to retain independent counsel, when being defended by its insurer under a reservation of rights, there are some general rules of the road. In a few states a defense provided under a reservation of rights automatically entitles the insured to independent counsel...

Enforcement Actions Filed Against Real Estate Firms For Alleged RESPA Inadequate Notice and Kickback Violations

On May 28 th , the CFPB entered into a consent order with the largest real estate firm in Alabama to settle allegations that the real estate firm provided consumers with inadequate notices. The CFPB alleged that the real estate firm violated the Real Estate Settlement and Practices Act (RESPA) by failing...