New York federal court holds that Hawaii’s “all sums” rule and “follow-the-settlement” provisions in reinsurance contracts obligated a reinsurer to reimburse a cedent where the underlying reinsured umbrella contract had a three-year term and the underlying insured settled an environmental claim for contamination spanning more than 44 … [Read more...] about When It Rains Pollution, Grab Your Umbrella
Environmental
The Current Impact of Legacy Losses
Milliman provides an overview of legacy exposures that can impact the general liability books of commercial insurance companies. https://www.milliman.com/en/insight/The-current-impact-of-legacy-losses … [Read more...] about The Current Impact of Legacy Losses
Do the Right Thing
It was a record breaking attendance at the AIRROC Spring Membership Meeting on March 5 & 6. Hosted at the offices of Norton Rose Fulbright in New York City, members held meetings and also heard from great education panels. Read on for highlights for this particular session. Doing the right thing is easy . . . isn’t it? Not always. When it comes to environmental … [Read more...] about Do the Right Thing
Oil & Gas Transport Environmental Risks for Pipelines, Motor, Railways, Port Operations, & Marine
It was a record breaking attendance at the AIRROC Spring Membership Meeting on March 5 & 6. Hosted at the offices of Norton Rose Fulbright in New York City, members held meetings and also heard from great education panels. Read on for highlights of this particular session. Texas petrochemical engineer Phil Watters of Rimkus and Swiss Re's Claims Vice President Mike … [Read more...] about Oil & Gas Transport Environmental Risks for Pipelines, Motor, Railways, Port Operations, & Marine
AIRROC / EECMA Climate Change Symposium: Trade Associations Pair up to Face Reality
On September 6, 2018, AIRROC and EECMA (Environmental and Emerging Claim Manager Association) presented their 2018 feature co-hosted program, which took a comprehensive look at climate change. The one-day symposium presented material too voluminous to summarize adequately in a single article. However, here are a few things you missed if you did not attend the symposium. Courts … [Read more...] about AIRROC / EECMA Climate Change Symposium: Trade Associations Pair up to Face Reality
Cue the Mediator: Hiring a Mediator to Save Costs in Superfund Cases
In almost 40 years of dealing with CERCLA liability claims, we have learned a thing or two. In November of last year, A.M. Best opined that environmental exposures were “97% funded” at $41 billion in reserves. This is good news compared to 2003, when A.M. Best viewed environmental losses as underfunded by 45% based on a projected ultimate loss of $56 billion. But then, as now, … [Read more...] about Cue the Mediator: Hiring a Mediator to Save Costs in Superfund Cases
Hydraulic Fracturing: A Retrospective of Key Legal Disputes in 2014 and Predictions for the Future
In 2014, hydraulic fracturing (“fracking”) remained a hot national topic. Often making headlines, fracking also made its mark in litigation where key battles wound their way through the courts. Reviewing just some legal developments confirms the industry faces unique, sometimes prejudicial, challenges despite continued growth. For example, the Eighth Circuit’s decision in … [Read more...] about Hydraulic Fracturing: A Retrospective of Key Legal Disputes in 2014 and Predictions for the Future
