Judy Greenwald
Business Insurance
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Past articles by Judy:
Chemical company’s suit against Marsh time-barred: Federal appeals court
A lawsuit against Marsh LLC units by a Louisiana chemical manufacturing company in a dispute over coverage for a damaged cable in the Arabian Gulf was filed too late, a federal appeals court ruled Monday, in affirming a lower court ruling. → Read More
Cargill wins ruling against AIG related to employee theft cover
A federal appeals court on Tuesday affirmed a lower court’s ruling in favor of Cargill Inc. in a dispute with an American International Group Inc. unit over how much coverage it is entitled to stemming from an employee’s embezzlement. → Read More
DC appeals court rules for insurers in COVID case
The District of Columbia Court of Appeals on Thursday ruled against policyholders trying to recover COVID-19-related business interruption losses. → Read More
Court rules for California mall owner in COVID case
A federal district court has refused to dismiss COVID-19-related business interruption coverage litigation filed by a shopping mall owner against an American International Group Inc. unit, concluding that its policy’s pollution and contamination exclusion is ambiguous. → Read More
Insurer not required to pay for fire where sprinkler was off
An insurer who was not informed the water had been shut off to a building that was later destroyed in a fire is not obligated to pay under its coverage, a federal appeals court ruled Wednesday, in affirming a lower court ruling. → Read More
Former insurance exec indicted in $2B scheme
A federal grand jury in Charlotte, North Carolina, indicted a former insurance executive on Thursday, charging him with masterminding and directing a $2 billion scheme to deceive state insurance regulators and defraud thousands of policyholders, the U.S. Department of Justice said Friday. → Read More
Insurers win partial victory in SPAC D&O case
A Delaware Court has issued a partial victory to insurers in one of the first directors and officers liability insurance coverage cases related to special purpose acquisition companies to reach a ruling. → Read More
Illinois biometrics ruling could have major impact on employers
The Illinois Supreme Court ruled Friday in a divided opinion that employers violated the Illinois Biometric Information Privacy Act each time they collected fingerprints from an employee and disclosed that biometric information without consent. → Read More
Experts assess cyber risks, need for federal backstop
Having the federal government help if there is a cyber-related catastrophe is a good idea, but only if it is restricted to serving as a backstop in a situation that threatens the insurance industry’s survival, a speaker at the Professional Liability Underwriting Society’s cyber symposium said Tuesday. → Read More
California med mal cap increase may have wider influence
Insurers, defense attorneys and the plaintiffs bar generally welcomed an incremental increase in California’s cap on medical malpractice awards that went into effect last month, and some said it could be a basis for tort reform in other states. → Read More
Breach of contract, bad faith litigation filed against insurer dismissed
A federal appeals court on Tuesday affirmed a lower court ruling dismissing breach of contract and bad faith litigation filed by a construction company against a Selective Insurance Group unit. → Read More
Liberty Mutual adds former CNA exec
Liberty Mutual Insurance Co. said Monday it has named Paul Larson, formerly with CNA Financial Corp., as president, financial lines, of its global risk solutions North America division. → Read More
D&O liability rate decrease accelerates: Aon
The downturn in directors and officers liability rates continues to accelerate, with Aon PLC’s clients reporting a 17.8% adjusted decrease in average price per million for their D&O liability policies in 2022’s fourth quarter, compared with the same period in 2021, the broker said Monday. → Read More
Montana insurance broker jailed for fraud
A Helena, Montana-based commercial insurance broker has been sentenced to 90 days in jail, given a 10-year suspended prison sentence and ordered to pay $150,000 in restitution for insurance fraud. → Read More
Berkley reports nearly 30% hike in Q4 profit
W.R. Berkley Corp. on Thursday reported a 29.8% increase in net income to $382.2 million in the fourth quarter of 2022. → Read More
Social inflation increases med mal losses: Study
In the decade ended in 2021, between $2.4 billion and $3.5 billion, or 8-11%, of all medical malpractice losses incurred by physician-focused insurers stemmed from social inflation, says a study issued by a medical malpractice insurer. → Read More
Social inflation increases med mal losses: Study
In the decade ended in 2021, between $2.4 billion and $3.5 billion, or 8-11%, of all medical malpractice losses incurred by physician-focused insurers stemmed from social inflation, says a study issued by a medical malpractice insurer. → Read More
Insurer must defend company in Illinois BIPA case
An insurer must defend a company charged with violating Illinois’ Biometric Privacy Act, but only after the company’s primary insurance limits are exhausted, a federal district court ruled. → Read More
NFP names head of financial institutions group
NFP Corp. said Monday it has named Lauren Kim managing director, head of its financial institutions group. → Read More
Former NFL defensive lineman sues med mal insurers, brokers
Former National Football League player Sharrif K. Floyd, whose career ended after knee surgery, sued a Sompo International Holding Co. unit, a The Doctors Co. unit, Marsh USA Inc. and USI Insurance Services LLC, charging a $10 million shortfall in insurance proceeds. → Read More