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Steel Parts Makers Say Zurich Can t Recoup $90M Settlement
Law360 (March 10, 2021, 9:19 PM EST) Zurich American Insurance Co. and its subsidiaries can t force the makers of steel connectors to help pay for a $90 million settlement over a Hawaiian builder s alleged poorly designed homes, the manufacturers have told a California federal court.
Simpson Manufacturing Co. Inc. and Simpson Strong-Tie Co. Inc. filed suit on Tuesday, alleging that the Zurich companies can t compel the manufacturers to cover the insurers loss in settling a homeowners class action against Gentry Homes Ltd. California law bars such an action, Simpson said.
According to the manufacturers complaint, the Zurich companies which insure Gentry and Simpson are behind a recent.
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Courts in seemingly every jurisdiction are facing a wave of insurance coverage litigation arising out of the COVID-19 pandemic which requires them to address the extent to which typical business insurance policies apply (or not) to our decidedly atypical times. With little appellate guidance to date, courts across the country have reached different, and often irreconcilable, results. A series of recent federal court cases in Ohio has put the challenge (for courts, counsel, and parties alike) on full display. Below, we discuss two cases that reached opposite results based on similar facts, and a third that chose to refer the question to the Ohio Supreme Court.
Total Pandemic Losses for P/C Insurers Will Take Years to Determine: Fitch By Fitch Ratings | March 10, 2021
Incurred pandemic losses for U.S. property/casualty insurers increased only modestly in fourth quarter of 2020 from earlier quarters in the year. Still, the amount of ultimate losses remains unclear and will take several years to determine in business interruption, general and professional liability and other lines due to litigation, Fitch Ratings says.
Fitch said its rated P/C insurers have broadly maintained capital strength over the past year, and pandemic-related adverse ratings actions have been very limited. However, uncertainty remains regarding the full financial consequences and total insured losses from the pandemic.
The Northern District of Ohio Provides More Clarity On COVID19 Related Business Interruption Claims | Ulmer & Berne LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
Plaintiffs in Some States Defy Insurer Winning Streak in COVID Lawsuits
To anyone keeping score, it appears that insurers are crushing policyholders who sued for business income lost because of COVID-19 restrictions.
As of Tuesday, insurers had won 147 motions for dismal or summary judgment in state and federal courts, according to a litigation tracker maintained by the University of Pennsylvania’s Carey Law School. Policyholders had won only 34 cases in early rounds less than one out of five.
But if you look closer, glaring outliers emerge.
In Ohio, insurers had won only two of 11 motions to dismiss or for summary judgment, as of Tuesday. In one case, Henderson Road Restaurant Systems et al v. Zurich American Insurance Co., a federal judge actually granted summary judgment in favor of the policyholder.