AIRROC Matters

Insurance & Reinsurance News

Emerging Claims

Social Unrest: Covered or Not?

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Corporate Partner Dentons highlights the legal issues in assessing coverage for vandalism, looting, and related business interruption and civil authority claims.Legal InformationTo say we are living in unprecedented times in the insurance and reinsurance world, and everywhere else, would be a gross understatement. While we continue to work from home, insurers … [Read more...] about Social Unrest: Covered or Not?

The Workers Compensation Impacts of 2019 Coronavirus (COVID-19) 

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As the Coronavirus threat increases, so do the questions associated with workers compensation claims. Broadspire, Crawford's global TPA, has produced a white paper which examines the background of COVID-19, how state statutes may see related claims and the potential impact on workers compensation claims.The worker's compensation impacts of 2019 coronavirus - … [Read more...] about The Workers Compensation Impacts of 2019 Coronavirus (COVID-19) 

Is COVID-19 One “Event”?: Reinsurance Aggregation

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As insurers and reinsurers evaluate their potential Covid-19 exposure, we look at the scope for aggregating Covid-19 losses on the basis of some of the market’s more common aggregation language.Read the full article here - https://www.bclplaw.com/en-GB/thought-leadership/is-covid-19-one-event-reinsurance-aggregation.html … [Read more...] about Is COVID-19 One “Event”?: Reinsurance Aggregation

Stranded Assets from Climate Change – Should Insurance Companies be Alarmed?

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Key Coleman discusses the impact climate change could have on the value of insurance companies’ investment portfolios.Climate change from the burning of fossil fuels has many implications for the US economy.  One consideration that deserves greater attention is the impact climate change could have on the value of insurance companies’ investment portfolios.  Given that … [Read more...] about Stranded Assets from Climate Change – Should Insurance Companies be Alarmed?

2010-2019: A Landmark Decade of U.S. Billion-Dollar Weather and Climate Disasters

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Adam Smith of the National Oceanic and Atmospheric Administration (NOAA) crunches the data, which reveals a worrisome unprecedented trend of billion-dollar weather and climate disasters.Read full article here -  https://www.climate.gov/news-features/blogs/beyond-data/2010-2019-landmark-decade-us-billion-dollar-weather-and-climate … [Read more...] about 2010-2019: A Landmark Decade of U.S. Billion-Dollar Weather and Climate Disasters

States Open The Window For Sex Abuse Claims

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New Jersey, California and North Carolina join list of jurisdictions that have enacted "revival windows” for time-barred sex abuse claims. New Jersey “revival window” for time-barred sex abuse claims effective as of December 1, 2019; California and North Carolina to follow in January 2020This year has been a busy one for state legislatures, many of which … [Read more...] about States Open The Window For Sex Abuse Claims

New York State Department Of Financial Services “Expects” Insurers To “Cooperate Fully” With The Child Victims Act

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New York urges insurers with potential exposure to legal claims stemming from the Child Victims Act to act promptly and in good faith.   The New York Child Victims Act (“CVA”) was signed into law on February 14, 2019.  Among other things, the CVA extended the civil statute of limitations for sexual abuse claims against alleged perpetrators and … [Read more...] about New York State Department Of Financial Services “Expects” Insurers To “Cooperate Fully” With The Child Victims Act

The Weather was HOT and so was AIRROC’s Summer Membership Meeting…

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As we do annually, AIRROC members met at the offices of Norton Rose Fulbright to work on their goals and also to take in some new topics offered by our Education Committee and partner firms.First up we featured a look at Captives and Emerging Risks. What do Legacy business and captive market transactions have in common?  The ability to evaluate and manage the exposures … [Read more...] about The Weather was HOT and so was AIRROC’s Summer Membership Meeting…

Do the Right Thing

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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

Allegations of Clergy Misconduct

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In the wake of the recent release of another investigating grand jury report regarding abuse of minors by clerics, Pennsylvania state lawmakers have introduced a proposal to revive previously time-barred civil claims arising out of allegations of childhood sexual abuse. If passed, the new law would open a two-year “window” during which victims could file such claims without … [Read more...] about Allegations of Clergy Misconduct

Avoiding the Next Lanzo: Some Thoughts

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Some thoughtsMost readers are familiar, at least to some extent, with the jury’s verdict earlier this year in Lanzo v. Johnson & Johnson. In that case, a New Jersey state court jury awarded $117 million in compensatory and punitive damages against J&J and Imerys after concluding that asbestos-contaminated talc, supplied by Imerys and used to make Johnson’s Baby … [Read more...] about Avoiding the Next Lanzo: Some Thoughts

AIRROC / EECMA Climate Change Symposium: Trade Associations Pair up to Face Reality

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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

Lanzo v. Johnson & Johnson, et al. Is this the Beginning or the End?

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Recently, while on a family vacation, I drove past the Yellowstone Imerys talc-mining operations in Montana near Yellowstone National Park. The operation is set against a beautiful backdrop in one of the most naturally stunning areas of the country. The tranquil setting stands in stark contrast to the company’s current turmoil as a defendant in one of the highest profile mass … [Read more...] about Lanzo v. Johnson & Johnson, et al. Is this the Beginning or the End?

Biometrics: The Next Big Privacy Issue

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Picture a world in which you use your fingerprints, rather than keys to open your front door; where you pay for items by taking a selfie; where your heartbeat serves as your password. Biometrics —automated recognition of individuals based on unique characteristics—are making all of this possible. But maybe not surprisingly, the commercial use of biometrics raises numerous … [Read more...] about Biometrics: The Next Big Privacy Issue

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