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Troutman Sanders LLP: Illinois Appellate Court Affirms Victory for Insurer in $5 Million Post-Judgment Interest Coverage Dispute

By Rebecca L. Ross , David F. Cutter , James J. Sanders The Illinois Appellate Court has upheld a victory for Occidental Fire & Casualty Company of North Carolina in a dispute over the scope of its obligation to cover post-judgment interest. The plaintiff-appellant, Maria Colella, contended...

Prejudgment Interest: It’s Not Discretionary! Insurers Should Pay Up

By Jill Berkeley , Partner, Neal, Gerber & Eisenberg LLP Who has not heard in the first round of mediation, insurers say, “prejudgment interest and extracontractual damages are off the table.” That’s just wrong. In the last three months alone, policyholders have won prejudgment...

Wisconsin Court of Appeals Provides a Lesson in Documenting the Settlement

A recent case from the Wisconsin Court of Appeals demonstrates the necessity of properly documenting the details of a settlement after agreement is reached on the amount. In Singler v. Zurich American Insurance Co. , 2014AP391, Robert Singler and Zurich American Insurance Co. agreed to settle Singler’s...

Appeals Court Makes New Law: Insurer Must Pay Interest On Settlement After 30th Day Without Payment

Singler v. Zurich American Ins. Co., No. 2014AP391 (Wis. Ct. App. Sept. 16, 2014), [ enhanced version available to lexis.com subscribers ], involves Zurich’s eve-of-trial settlement of an automobile liability claim for $1.9 million. Zurich’s attorney told the plaintiff’s attorney that...

Arson-for-Profit Fails Because of Lack of Insurable Interest and Misrepresentation: Insurance Competence Needed to Commit Insurance Fraud

Arson is relatively easy. Pour some gasoline and light a match and a fire will burn. Successfully turning an arson fire into profit is more difficult and requires some knowledge of insurance and insurance claims. In Ross v. State Farm Fire and Cas. Co ., Slip Copy, 2015 U.S. Dist. LEXIS 18707 (S.D.Ohio...

Insurer Appointed Lawyer’s Duty is to Client It Was Retained to Defend – Conflict of Interest Required To Remove Counsel

Insurance companies have the right and obligation to choose counsel to defend its insureds. Counsel retained by an insurer to defend an insured, contrary to the belief of many, is obligated solely to represent the rights, duties, obligation and defenses of the party insured. When that party is a corporation...

How to Lose Auto Coverage Without Trying – Insurable Interest Required for Coverage to Apply

Insurance is a contract of personal indemnity. It does not insure cars or property of any kind but insures people against the risk of loss of their property. People who know nothing about insurance do not understand this essential insurance concept and think that the insurance policy insures the vehicle...

State of California v. C.N.A. (Stringfellow) Prejudgment Interest Decision

In the decision just released in the State of California "Stringfellow" case , the Superior Court of the State of California awarded the State of California the amount of $13,914,082.09, the full amount of mandatory pre-judgment interest and, alternatively if that is reversed through the judicial...