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New York law firm s malpractice costs Marcum LLP millions, lawsuit says

Costigan NEW YORK (Legal Newsline) - An accounting and advisory services firm has filed a lawsuit against a law firm that allegedly failed to adequately represent it in litigation, according to court documents filed in the Supreme Court of the State of New York.  Independent public accounting firm Marcum LLP hired L Abbate, Balkan, Colavita and Contini, LLP, both companies of New York, to defend the firm in a civil litigation. Specifically, Marianne Conklin was the counsel from the firm representing Marcum, says a Feb. 15 complaint. Marcum s insurers, Lexington Insurance Company, Continental Casualty Company and Fireman s Fund, had agreed to cover Marcum in a lawsuit brought against the firm.

Nebraska s Applied Underwriters Promotes 4 in Actuarial Department

Nebraska’s Applied Underwriters Promotes 4 in Actuarial Department March 1, 2021 Justin Smith, Jing Hong, Joan Klucarich and Jordan Comacchio have been promoted at Omaha, Nebraska-based global insurance and risk services firm Applied Underwriters, which is expanding its actuarial faculty and resources. Smith was named chief underwriting officer; Hong, chief actuary; Klucarich, chief reserving actuary; and Comacchio, chief pricing actuary – Reinsurance. The company said the promotions reflect both the ongoing refinements in leadership that evidence Applied Underwriters’ commitment to advancement from within its ranks, as well as developing talent to expand the enterprise through extraordinarily accomplished professionals applying intelligence, creativity and experience to key decisions and decision-making.

Hub s Chapman Takes On National Commercial Markets Director Role

Hub’s Chapman Takes On National Commercial Markets Director Role February 1, 2021 Global insurance broker Hub International reported that Michael Chapman has been named national director of Commercial Markets. Chapman will also retain his current role as president of the Hub South region. As Hub’s first-ever national director of Commercial Markets, Chapman will be responsible for claims best practices, product development, special projects, carrier management and mergers and acquisitions as they relate to the commercial middle market business segment in Hub’s key specialty industries and emerging segments. He will work with Hub’s specialty leaders, M&A team, marketing, IT and sales.

New York Court Finds the Term Exhaustion in Excess Policy Was Ambiguous, Rules That Full Limits of Underlying Insurance Need Not Be Paid for Excess Policy to Attach | Carlton Fields

To embed, copy and paste the code into your website or blog: Fireman’s Fund Insurance Co. sued OneBeacon Insurance Co. for breach of a facultative reinsurance certificate. Fireman’s Fund settled claims with its insured and allocated a portion of the settlement to a Fireman’s Fund excess policy reinsured by OneBeacon. OneBeacon denied Fireman’s Fund’s claim, arguing that its reinsurance obligations did not attach until all insurance underlying the Fireman’s Fund policy were exhausted in payment of the full limits of the underlying policies. The Fireman’s Fund policy stated that it applies “only after all underlying insurance has been exhausted,” but did not define “exhaustion.” The reinsurance certificate provided that OneBeacon’s liability shall follow Fireman’s Fund’s, that the terms of the certificate shall be subject “in all respects” to the Fireman’s Fund policy, except as stated in the certificate, and that “all claims involving this reinsura

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