Insurance companies can become insolvent. This is an ongoing issue in Puerto Rico following hurricanes Irma and Maria. In addition to Real Legacy Assurance Company’s insolvency, Puerto Rico’s Insurance Commissioner reportedly fined various insurers for delays in handling claims. Even if your insurance company is insolvent, it may have purchased reinsurance. While the general rule
Reinsurance
Notable Upcoming NY Court of Appeals Insurance Cases
Three significant insurance disputes are pending before the New York Court of Appeals, and Hunton partner Syed Ahmad discusses the importance of those cases in Law 360’s article titled 3 Insurance Cases To Watch At NY’s High Court.
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Industry May Sour Over Lemonade Insurance’s Sweet Formula
Since our first report last year, Lemonade Insurance, a tech start-up that planned to offer peer-to-peer insurance products, has launched in four states, offering homeowners and renters insurance in New York, California, Illinois, and New Jersey. Lemonade’s cutting-edge use of technology and its alternative business model could prove disruptive to the insurance industry.
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Hunton Insurance Head, Walter Andrews, Speaks on Insurance Cases to Watch in 2017
My partner, Walter Andrews, recently commented in a Law360 article concerning the top insurance cases to watch in 2017. The Law360 article, titled Insurance Cases to Watch in the 2nd Half of 2017, features Andrews commenting on the impact of Global Reinsurance Corp. of America v. Century Indemnity Co., case number CTQ-2016-00005,…
Lemonade, New Insurance Start-Up, Receives Backing From Berkshire and Lloyd’s
Lemonade, a new insurance start-up that intends to offer peer-to-peer insurance in the US, received a recent boost when it announced that several well-known insurers, including Lloyd’s of London underwriters and Berkshire Hathaway’s National Indemnity Company, have signed up to provide reinsurance backing to the new venture.
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