Specialty Lines Advisory

Author

Katherine Letcher

The Two-Year Statute of Limitations for Actions Against Insurance Producers in Illinois Begins to Run on the Date the Policy Is Received by the Policyholder

The Illinois Appellate Court for the First District, in Austin Highlands Development Company v. Midwest Insurance Agency, Inc., 2020 Ill. App. (1st) 191125, decided two issues important to insurance producers in Illinois. The two-year statute of limitations applies to both… Continue Reading →

Claims-Made Policy’s Late Notice Provision Inapplicable Despite Insured’s Failure to Provide Notice of Lawsuit for More Than Two Years

Despite more than two years elapsing before an insurer first received notice of a lawsuit, the insurer failed to present sufficient evidence under Maryland law to demonstrate a causal link between the late notice and the prejudice it claimed it… Continue Reading →

Related Wrongful Acts Exclusion Precludes Additional $20 Million in Coverage

Twenty-eight separate matters fell under a single insurance policy because they all arose out of “Related Wrongful Acts” as defined by the policy. As a result, the insureds were not eligible for an additional $20 million in coverage. Previti v. Nat’l… Continue Reading →

No Indemnification for Former Insured’s $40 Million Settlement Agreement

The U.S. Court of Appeals for the 11th Circuit determined that National Union Fire Insurance Company of Pittsburgh, PA (National Union) owed no duty to indemnify a $40 million settlement reached by its former insured in an underlying action. The… Continue Reading →

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