Insurance-giant American International Group (AIG) announced that it will be the first insurer to offer standalone primary coverage for property damage, bodily injury, business interruption, and product liability that result from cyberattacks and other cyber-related risks. According to AIG, “Cyber is a peril [that] can no longer be considered a risk covered by traditional network

Yesterday, a federal judge in the District of Columbia rescinded a regulatory order designating MetLife as a systemically important financial institution (“SIFI”). In December 2014, MetLife joined AIG and Prudential as the only insurance companies designated as SIFIs – a designation that subjected the insurers to additional regulation by the Federal Reserve and additional capital

On February 11, 2016, New Jersey’s highest court held that National Union Fire Insurance Co. of Pittsburgh, Pennsylvania, (“National Union”) could refuse coverage for Templo Fuente De Vida Corp. and Fuente Properties Inc.’s settlement with policyholder First Independent Financial Group under a “claims-made” directors and officers policy because First Independent did not provide notice “as soon as practicable.”

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