Latest Liability Headlines
All the headlines from our Liability Topic Page, ordered by recency.
Economic and Cyber Risks Lead Global D&O Concerns: Survey
May 2 2023 // At the top of increasing concerns for directors and officers around the globe are economic, geopolitical and cyber risks, according to the latest Directors and Officers Liability 2023 Survey released by Willis Towers...
Markel Returns to Q1 Net Income Profit on Investment Gains
Apr 27 2023 // Markel Corp. reported first quarter 2023 net income of $537.8 million compared to a loss of about $48.8 million a year ago. Net investment gains during the first three months were about $372.6 million compared to a loss of...
Pennsylvania Hospital Wins Second Shot at Equitable Relief in Medical Malpractice Case
Apr 26 2023 // A federal appeals court is giving a Pennsylvania hospital another opportunity to have $1.75 million of its medical malpractice insurance coverage restored. The $1.75 million represents the difference between the final...
Embroker: Business Insurance Shoppers Concerned With Startup Leadership Post-SVB
Apr 25 2023 // Following the closure of Silicon Valley Bank (SVB), VC-backed startups were increasingly looking for stronger protection in case their assets were compromised — specifically liability policies covering company...
Workers’ Comp Takes Bite Out of Employee Right to Sue Third Party: Pennsylvania High Court
Apr 20 2023 // A Pennsylvania employer cannot be sued for blocking an employee from suing the third party responsible for her workplace injury, the state’s high court has ruled in reversing two lower courts. In a case involving an...
Viewpoint: D&O Market Conundrum — Softening Rates With Rising Claims Severity
Apr 19 2023 // Executive Summary: An uncertain economic landscape leading to a rise in claims, decreasing rates, and proposed US Securities and Exchange Commission regulations on environmental, social and governance disclosures (ESG) are...
People Moves: Ascot Names Williams U.S. CIO; Falcon Expands Leadership Team; Everest Names Mulray President of N.A. Insurance
Apr 19 2023 // Ascot Group Names Williams U.S. CIO Ascot Group has appointed Owen Williams to the newly created role of chief information officer (CIO), Ascot U.S., headquartered in New York, New York. Williams has been working in the...
Texas Court: Exxon Covered by Contractor’s Excess Insurers
Apr 18 2023 // Two excess insurers may be liable for the more than $20 million that ExxonMobil Corp. paid to settle lawsuits filed by a contractor’s employees who were badly burned while working at an Exxon refinery, the Texas...
Pro MGA Global Solutions Announces Incubation Partnership With MGA Nirvana
Apr 18 2023 // Pro MGA Global Solutions, the independent managing general agent (MGA) incubator, announced its incubation partnership with specialty MGA Nirvana. Nirvana is led by CEO Kabir Chanrai and Executive Chairman Rob Jones, along...
Breaking it Down: What Florida Insurers Need to Know about Bad Faith After Tort Reform
Apr 18 2023 // Bad-faith litigation is a hot topic in Florida following the passage of the new tort-reform measure known as House Bill 837. However, even in the face of reasonable legislative changes, it remains important for insurers...
U.S. P/C Underwriting Profit in 2023? Not Yet, Fitch Predicts
Apr 17 2023 // Analysts at Fitch Ratings predict a better underwriting result for U.S. property/casualty insurers in 2023 than 2022, but the combined ratio is still going to hover above breakeven, according to their forecast. Fitch...
5 Things to Consider When Transporting Cannabis
Apr 17 2023 // When it comes to general insurance issues, cannabis-related businesses face the same general liability and property risks faced by other industries, like workplace accidents, damage to property, crop failure and...
D&O 2022: Prices Down; Loss Ratios Up; Top Carriers Ranked
Apr 17 2023 // Although analysts at Fitch Ratings estimate that combined ratios for the directors and officers liability line remained below breakeven in 2022, with competition fueling price declines and the economic conditions...
Maryland Lawmakers Approve Bill to Remove Time Limit on Child Sex Abuse Suits
Apr 11 2023 // Maryland lawmakers have passed a bill to end the state’s statute limiting when civil lawsuits over child sex abuse can be filed against public and private entities. Under the Child Victims Act of 2023, actions for...
Markets/Coverages: Berkley Select Enhances Middle Market Lawyers Pro Liability Coverage
Apr 6 2023 // To address the growing risks faced by middle market law firms, Berkley Select said it enhanced its lawyers professional liability (LPL) offerings, adding new coverages, more flexible policy forms and expanded...
NC Farm Bureau Can Keep $24 Million in Green Energy Tax Credits, Court Says
Apr 6 2023 // An insurance company is entitled to generous tax credits even if the carrier did not invest directly in renewable energy projects, a North Carolina court has decided, striking down a $24 million tax assessment by the...
Is a Scooter a Vehicle? Appeals Court Says ‘Yes’ and State Farm Must Pay UM Claim
Apr 4 2023 // State Farm must pay an uninsured motorist claim for injuries caused by an electric motor scooter even though the scooter didn’t match the definition of “motor vehicle” in Florida statutes, a panel of the...
Texas Auto, Homeowners Premiums Grew Double Digits in 2022, Report Shows
Apr 4 2023 // The Texas market for auto and homeowners insurance grew double digits in 2022, according to an annual report put out by the Texas Department of Insurance. Texas insurers reported direct premium written for private...
Bayer Defeats Merck in Lawsuit Over Talc Liabilities
Apr 4 2023 // A Delaware judge on Monday dismissed Merck & Co’s lawsuit seeking to hold Bayer AG responsible for more talc-related liabilities stemming from its $14.2 billion purchase of Merck’s consumer care business in...
Market Basket Owner Accuses Chubb of ‘Lowballing’ and Risking Further Liability
Apr 4 2023 // Insurer Chubb has been accused of “lowballing” offers in the settlement of an employee class action that the owner of a popular New England grocery chain was motivated to close out due to fears that further...
