This is the first in a series of articles addressing critical issues in risk management and insurance for skilled nursing facilities.
Owners and operators of skilled nursing facilities know that a claim or lawsuit against their facility is not a matter of if, but when. Procuring the proper insurance is critical to effectively managing and
Introduction
Cryptocurrency isn’t just for tech startups and X (formerly Twitter) enthusiasts anymore. Mainstream corporations are increasingly forced to consider Bitcoin—the undisputed “king” of crypto—and other investments into digital assets whether they are on board or not. Some, like Tesla and MicroStrategy (now rebranded as “Strategy”), have already poured billions into Bitcoin. Others, like Microsoft
This is the first in a series of discussions about insurance issues unique to the Lone Star State.
For nearly a century, the Stowers doctrine has been a critical cornerstone of Texas insurance law protecting insureds facing the threat of a nuclear verdict. This doctrine, named after the seminal 1929 case G.A. Stowers Furniture Co.
The foundation of a policyholder’s agreement to pay premiums for a standard commercial general liability policy (CGL) is the insurer’s agreement to defend the policyholder against lawsuits and shoulder the costs of the defense. The insurer has “the right and duty to defend any ‘suit’” containing any allegation that potentially falls within the policy’s coverage.
A law recently passed by the New York State Assembly and signed by Gov. Kathy Hochul puts significant limits on the flood insurance that lenders can require borrowers to purchase on loans secured by residential real property. Commentary in the weeks since the law went into effect has focused on potential conflicts between the law
On December 13, the North Carolina Supreme Court gave policyholders a partial victory in long-running litigation over business interruption coverage for shutdowns during the COVID-19 pandemic. In North State Deli v. Cincinnati Insurance Co., the court unanimously agreed with the plaintiff restaurants and bars that their insurance coverage for “direct physical loss” included the
Well-established law requires that an insured be made whole before recoveries benefit an insurer. When an insured’s losses exceed policy limits, any additional recovery made by the insured should inure to the benefit of the insured to offset losses above policy limits. Only after the insured is made whole is the insurer entitled to reimbursement. But
After a district court determined that Certain Underwriters at Lloyd’s of London (Lloyd’s) could rescind a directors and officers’ policy issued to Anchor Insurance Holdings Inc. and its subsidiary, Anchor Property Insurance & Casualty Insurance Co. (collectively Anchor), because the application failed to disclose complaints from disgruntled investors, the Eleventh Circuit sidestepped the rescission question
As many policyholders are acutely aware, the insurance landscape is complex, with numerous insurers offering a wide range of available insurance programs. While some coverage forms are standard, many are unique to specific industries and even to individual insurance companies. This diversity makes it critically important for policyholders to know the risks that their particular
Sometimes defining the simplest phrases proves anything but simple. So learned the insurer in a property loss and bad faith case brought by its insured and decided earlier this year by the Pennsylvania Superior Court (Watchword Worldwide v. Erie Ins. Co., 308 A.2d 728 (Pa. Superior Ct. 2024)).
Watchword Worldwide engaged in the business of
