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Welcome to the third e-edition of the Edwards Wildman Insurance and Reinsurance Review. On the US side, we report on the current landscape of concussion litigations; the status and possible easing of the expanded sanctions against Iran, which include prohibitions on providing insurance and reinsurance, or underwriting services, for sanctioned activities; ongoing coverage changes involving construction defect claims; and recent litigation and emerging claims issues involving long term care policies. On the UK side, we report on the Supreme Court's examination of European and domestic case law in the "Alexandros T"; the High Court's decision on the construction and practical application of follow the settlements clauses; and last year's Commercial Court's decision on the duties of reinsurance brokers to remit funds to their principals. On the Hong Kong side, we report on the decision of the Hong Kong Court of Appeal in which it considered whether insurers are deemed to have constructive knowledge of information available on the internet. The opening paragraphs of all articles are presented below, from which you can choose the full articles. All articles are also available from the listings in the left-hand column, as are our expanded "Industry Presence" sections. We hope you enjoy this edition of the Edwards Wildman Insurance and Reinsurance Review. Paul Kanefsky Victoria Anderson
ARTICLES IN THE JANUARY 2014 EDITION OF THE REVIEW
Concussions in Professional and Amateur Athletics: Potential Liability for Traumatic Brain Injuries Suffered During Sporting Events Over the last two years, there has been a significant increase in public awareness concerning the possible long-term consequences resulting from concussions sustained during sporting activities. Barely a week passes without news of a current or former athlete who either has recently sustained a severe concussion or claims to be suffering from the latent and debilitating effects of past concussions. Although professional and collegiate football have received the most notoriety, similar, if not higher, concussion rates exist in other sports such as soccer, hockey, cheerleading and gymnastics. More >> Iran Economic Sanctions Update The United States has maintained economic sanctions against Iran consistently since 1979, with only a brief relaxation of the restrictions in the early 1980’s. Recent developments in the diplomatic arena may allow for a relaxation of the sanctions since those days in the 1980’s. More >> Recent Developments in Coverage for Construction Defect Claims Construction defect litigation continues to escalate in jurisdictions around the country. As a result, coverage for defective work and ensuing property damage is often sought under various forms of insurance. Occasionally, such claims arise in the first-party context, in which a building owner seeks coverage from its property insurer to cover the cost of repair and replacement of faulty construction work. More often, however, coverage issues involve third-party claims, where a contractor is sued and looks to its commercial general liability (“CGL”) insurer to defend and indemnify it in the underlying property damage lawsuit. More >> Long Term Care Insurance: Policy Provisions in Dispute Long term care insurance has been and will continue to be a focus of attention for the plaintiffs’ bar and state and federal regulators. Long-term care (“LTC”) insurance policies can be in effect for decades before claims are initiated. Policyholders, many of whom have paid premiums for their policies for years, only now are beginning to make claims. Increased claim activity inevitably leads to more disputes. More >>
"The ALEXANDROS T": A Jurisdictional Battle on the High Seas The Supreme Court of England upholds insurers’ challenge to the Court of Appeal’s decision that English proceedings should be stayed pending the resolution of foreign proceedings. More >> Follow Remains Contentious as History is Revisited In the case of Tokio Marine Europe Insurance Ltd v Novae Corporate Underwriting Ltd [2013] EWHC 3362 (Comm), the High Court once again turned its attention to the construction, and the practical application, of follow the settlements clauses in reinsurance/retrocession contracts. The decision of the judge, Mr Justice Hamblen, raises a number of interesting, and, perhaps, controversial, issues in relation to the operation of “Scor-type” unqualified follow the settlements clauses, which are discussed in detail below. More >> Commercial Court Considers Brokers' Duties, Limitation and Recoverability of Funds and Investment Return In Equitas Limited v Walsham Brothers & Company Limited [2013] EWHC 3264 (Comm), the Commercial Court considered duties of reinsurance brokers to remit funds to their principals. In doing so, the Court drew some important conclusions in relation to the nature and scope of brokers’ duties, and to whom they are owed, and also in relation to the recoverability of compound interest and of investment return. More >>
Insurers Are Not Presumed To Have Knowledge of Matters Merely Because They Are Available In The Media In Hua Tyan Development Ltd v Zurich Insurance Company Ltd and Another [2013] HKCU 1858, the Hong Kong Court of Appeal considered whether the plaintiff (Insured) had breached a warranty relating to the deadweight tonnage (DWT) of the vessel concerned, the breach of which would entitle the first defendant (Insurer) to avoid the relevant insurance policy. On this point, the Court considered whether insurers are deemed to have constructive knowledge of information available on the internet in respect of an insured property. More>>
Edwards Wildman Industry Presence Accolades More >> Upcoming Presentations More >> What's New in Solvency II More >> Recent Presentations More >> Conference Attendance More >> Articles & Quotes More >> Sponsorships More >> Insurance Federation of New York More >> Insurance Committee of the International Bar James Crabtree Joins Edwards Wildman More >>
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