In an earlier post, Robert discussed the impact of the Ninth Circuit’s decision in Burlington Ins. Co. v. Oceanic Design & Constr., 383 F.3d 940 (9th Cir. 2004) on Hawaii insurance law. Robert pointed out in Burlington, the Ninth Circuit predicted that under Hawaii insurance law, the Hawaii Supreme Court
Hawaii to Benefit from Settlement Against Travelers in Florida Suit
The Associated Press reports that Hawaii will receive a portion of a $6 million settlement against Travelers Co., Inc, to settle a suit filed in Florida, alleging Travelers conspired with brokers to submit fake bids for coverage even though the brokers had already determined which insurer would provide coverage for a policyholder. Travelers
Insurance Fraud
While not exactly an insurance coverage case per se, the Intermediate Court of Appeals just came out with a new decision on jury instructions in a criminal insurance fraud case. See State v. Watanabe, No. 26777 (December 31, 2007). In short, an individual damaged his own car and attempted to file a vandalism
Insurance Fraud
While not exactly an insurance coverage case per se, the Intermediate Court of Appeals just came out with a new decision on jury instructions in a criminal insurance fraud case. See State v. Watanabe, No. 26777 (December 31, 2007). In short, an individual damaged his own car and attempted to file a
Reinsurance Rates Fall
Reuters reports today that the cost of reinsurance has fallen due to another relatively disaster-free year. Rates for property catastrophe reinsurance, which typically cover hurricanes and earthquakes, are down 9 percent. The U.S. subprime mortgage market crises has not impacted reinsurers.
The lack of natural disasters have allowed reinsurers to obtain
Top Ten Insurance Stories of 2007
The Insurance Journal has identified the top ten insurance stories of 2007. We addressed some of the topics in this Blog, including climate change, hurricane coverage, and the recent passage of Terrorist Risk Insurance Program Reauthorization Act of 2007.
More on Insurance Policy Assignments (Del Monte Fresh v. Fireman’s Fund)
Robert gave his initial impressions of this new Hawaii Supreme Court case last week. Del Monte Fresh Produce (Hawaii), Inc. v. Fireman's Fund Ins. Co., 117 Haw. 357, 183 P.3d 734 (2007). I add some thoughts and a summary below. By way of disclaimer, my name appears in the decision as one
Insurance Policies Cannot Be Assigned Without Insurer Consent
The Hawaii Supreme Court just held yesterday that insurance policies with an “assignments require consent” clause cannot be assigned without the insurance company’s consent. In Del Monte Fresh Produce (Hawaii), Inc. v. Fireman’s Fund Ins. Co. the Hawaii Supreme Court expressly held an assignment will not occur as a matter of law, but rather only
Big Island Hotel Sues Excess Carrier for Failure to Cover Earthquake Damage
Today’s Honolulu Advertiser reports that Mauna Kea Beach Hotel on the Big Island has sued one of its excess carriers for failure to provide coverage for earthquake damage suffered in October 2006. The story reports that three of the Hotel’s carriers have paid policy limits amounting to $30 million. Affiliated FM Insurance Co.,
Terrorism Risk Insurance Act Extended
President Bush signed today H.R. 2761, the Terrorism Risk Insurance Program Reauthorization Act of 2007, preventing the expiration of the Act on December 31, 2007, and extending the federal insurance program for seven years. The Act extends coverage to catastrophic acts of not only foreign terrorism but also domestic terrorism.