Insurance Law Alert, May 2012
This Alert addresses decisions relating to the statute of limitations for a claim alleging breach of an insurance contract and the scope of “direct physical loss” in a property policy. It also discusses the viability of contribution claims against an insurer that has settled with its policyholder, the viability of negligent misrepresentation claims against an insurer, and rulings interpreting “breach of contract” and “business pursuits” exclusions. Finally, we highlight three noteworthy bankruptcy rulings affecting the rights and obligations of insurers, and a recent ruling discussing class arbitration. We hope you will continue to turn to the Alert for the latest developments in insurance and reinsurance law.