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OneBeacon Insurance Co. must contribute its share of a $35 million settlement paid by excess insurer Fireman's Fund Insurance Co. to release itself from an insolvent mining company's asbestos exposure liability, the Second Circuit affirmed Thursday, finding that the below-limits settlement nonetheless triggered OneBeacon's reinsurance obligations.
The Wisconsin Supreme Court appeared uncertain Monday on the extent a construction project can be considered an "integrated system" during oral arguments for a coverage dispute over a leaky residential pool complex, a case that could have wide-ranging coverage implications for contractors in the Badger State.
A Chicago sushi restaurant urged an Illinois federal court to deny Society Insurance's bid to avoid coverage of a proposed class action accusing the restaurant of fraudulently mislabeling some of its offerings in place of cheaper, inferior fish.
A group of 16 restaurants urged the North Carolina Supreme Court to follow the same path as at least 14 other states' high courts and hear their COVID-19 business interruption suit against Cincinnati Insurance Co., warning that the "long-term viability of many North Carolina businesses is at stake."
A Travelers unit doesn't have to cover the majority of a wire fraud a Florida yacht club said it suffered, a Florida federal judge ruled, finding the club only partially alleged that parties committed the fraud by purporting to be the club itself, a requirement under its crime policy.