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1 week ago | 
law360.com | Lorelie Masters |Geoffrey B. Fehling |Andrew S. Koelz
ADVERTISEMENT Don't want ads? Subscribe or login now. By Lorelie Masters, Geoffrey Fehling and Andrew Koelz · For decades, homeowners and other insurance policies have included broad pollution exclusions, often referred to as a "total pollution exclusion."... To view the full article, register now.
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1 month ago | 
natlawreview.com | Lorelie Masters
One of the most important assets of a debtor’s estate in bankruptcy often is insurance purchased by the debtor before bankruptcy arises, to protect the company’s business, assets, and leaders. Insurance assets can be particularly key when the debtor’s estate faces liabilities from mass-tort suits and claims, securities and other claims relating to management of the entity before bankruptcy. However, questions often arise about who is entitled to the insurance.
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Nov 4, 2024 | 
natlawreview.com | Lorelie Masters
Most insurance policies seek notice from the insured “as soon as practicable.” In certain jurisdictions, an insurance company cannot void coverage by arguing that the insured’s notice was somehow “late” unless the insurer can show that it has been prejudiced. This is referred to as the “notice-prejudice” rule. Because insurance is a state-law issue, the law on this issue varies from state to state. Illinois follows a hybrid rule on notice.
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Nov 1, 2024 | 
natlawreview.com | Lorelie Masters
The Delaware Chancery Court placed Arrowood Indemnity Company in liquidation on November 8, 2023, by a liquidation order. The court found Arrowood to be insolvent by the court, and appointed a receiver to liquidate Arrowood’s assets, evaluate any claims made against Arrowood and evaluate the payment of claims made against it.
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Aug 12, 2024 | 
natlawreview.com | Lorelie Masters
Part II of this series, Levels of Protection, addressed the levels of protection available under the SAFETY Act and their associated benefits. This post discusses how a company prepares and submits an application under the SAFETY Act to the Office of SAFETY Act Implementation (“OSAI”) and the important role outside counsel can play in that process.
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Aug 1, 2024 | 
natlawreview.com | Lorelie Masters
Environmental, social, and corporate governance (“ESG”) continues to be a significant focus of not only companies and the boards that run them but also regulators and the public, both of which are increasingly interested in corporate efforts to address ESG. Insurers, too, are placing a greater focus on ESG, both when underwriting policies and assessing coverage for new and emerging risks like ESG exposures.
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Jun 12, 2024 | 
natlawreview.com | Shane Hannon |Scott Arnold |George Whipple |Lorelie Masters
On May 16, 2024, the Illinois House of Representatives passed S.B. 2979, following the bill’s passage in the Illinois Senate in April. S.B. 2979 next goes to Governor J.B. Pritzker for signature. S.B. 2979 would amend the Illinois Biometric Information Privacy Act (“BIPA”) definitions and limit liability for businesses with multiple duplicative BIPA violations that relate to the same individual.
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Jun 11, 2024 | 
natlawreview.com | Lorelie Masters
Part I of this series, SAFETY Act is Powerful Protection Against Emerging Liabilities, addressed the benefits of obtaining SAFETY Act coverage, including: From a reputational perspective, SAFETY Act protection provides benefits even absent a security incident: it demonstrates that a knowledgeable federal agency has examined the relevant technology and determined that it is both safe and effective.
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Apr 17, 2024 | 
natlawreview.com | Lorelie Masters
The SAFETY Act is a highly effective risk management tool created to incentivize the development of anti-terrorism technologies—broadly defined—the SAFETY Act created a program to provide protections to providers of products and services meant to prevent or mitigate physical and cyber-attacks.
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Jan 12, 2024 | 
businesslawtoday.org | Latosha M. Ellis |Jae Lynn Huckaba |Lorelie Masters |Patrick M. McDermott
Major sneaker brands have capitalized on new trends in technology and social media to publicize sneaker culture. As sneakers become more popular, sneaker collections increase in value, thus increasing financial exposure for collectors and other entities in the sneaker industry. One might first think of theft, authentication, fire, floods, or market valuation as the general risks associated with sneaker collections.
