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Posts published in “Insurance Law”

8th Cir. Holds Alleged Contract for Interest Rate Reduction May Not Be Barred by Statute of Frauds

The U.S. Court of Appeals for the Eighth Circuit recently held that a borrower’s claims concerning lender-placed insurance practices were barred by res judicata, because the alleged practices were the subject of a class action suit in which the borrower was a class member who…

8th Cir. Holds Property Damage Insurer Improperly Withheld ‘Labor Depreciation’ from Claim Payments

The U.S. Court of Appeals for the Eighth Circuit recently affirmed a trial court’s order certifying a class of Arkansas homeowners against an insurer that improperly withheld amounts for labor depreciation when paying covered property damage claims under their insurance policies. A copy of the…

Wisc. Supreme Court Holds Fire Spreading Across Multiple Properties Was Single ‘Occurrence’ Under CGL Policy

Reversing the rulings of the trial court and intermediate appellate court, the Supreme Court of Wisconsin recently concluded that a fire which spread across several properties was a single ‘occurrence’ for purposes of the commercial general liability policy, and not a new ‘occurrence’ each time…

4th Cir. Holds HPA Does Not Require LPMI Disclosures If LPMI Not Required at Closing

The U.S. Court of Appeals for the Fourth Circuit recently concluded that lender-paid mortgage insurance (“LPMI”) disclosures under the federal Homeowners Protection Act are only required if LPMI is a condition of the borrower obtaining the loan. In affirming the trial court’s dismissal of the borrowers’…

SD Fla. Rejects Borrower’s Effort to Exclude Evidence of Reasonableness of Lender-Placed Insurance Premiums

The U.S. District Court for the Southern District of Florida recently denied a borrower’s motion to exclude testimony of an insurer’s expert regarding the reasonableness of lender-placed insurance premiums levied upon the borrower’s mortgage loan. In so doing, the Court rejected the borrower’s argument that…

6th Cir. Holds Michigan’s 6-Year Statute of Limitations Applies to Penalty for Untimely Insurance Claims Payments

In a case involving a claim on a fire insurance policy relating to damaged real estate, the U.S. Court of Appeals for the Sixth Circuit recently held that the insurance policy’s two-year limitations provision did not apply to a claim brought under section 500.2006(4) of…

7th Cir. Holds Bankers’ Professional Liability Policy Did Not Cover Excessive Fees Claims

The U.S. Court of Appeals for the Seventh Circuit recently affirmed the dismissal of a bank’s lawsuit against its insurer for breach of contract and bad faith denial of coverage, holding that the insurance policy’s exclusion for any claim based upon or arising from fees…