Seward & Kissel LLP’s Post

Don't forget to register for the 2024 Large Loss Conference in October, hosted by Property & Liability Resource Bureau. Partners, Joshua Strudwick, Esq. and Katelyn Ferry, will be representing Cambo Ferry, PLLC. Register here: https://lnkd.in/e5HUWKyJ #plrb #largeloss #insuranceconference #defensecounsel #insurancedefenseattorney #firstpartyproperty #appraisal #CommercialLines #PropertyClaims #PersonalLines #PropertyClaims #liability #commercialdefensecounsel #firstpartycommercialdefense

🙌🏻 Compass's recent $57.5M settlement in a class-action lawsuit highlights a crucial aspect of business leadership: the indispensable protection offered by Directors & Officers (D&O) insurance. This case, rooted in allegations of antitrust practices and overcharged commissions in real estate, illustrates the complex risks leaders face. ➡️ D&O insurance emerges as a key safeguard, protecting decision-makers from personal financial liability in legal battles. As the industry reflects on these practices, the value of D&O insurance in ensuring fearless leadership has never been clearer. #LeadershipProtection #DandOInsurance #RealEstateReform #NSIInsuranceGroup https://lnkd.in/eExgiq4t

The latest issue of our Lender Liability Quarterly, worth a read, link below.

Red Lobster can't use 'opt-out' liability releases for bankruptcy, judge rules https://lnkd.in/gTYNydR7 #tradeguard #receivableputoptions #arputs #receivableputs #tradereceivables #accountsreceivables

Tyson & Mendes' Amanda Ashworth writes: On June 6, 2024, the United States Supreme Court issued its long-awaited ruling in Truck Insurance Exchange v. Kaiser Gypsum Co., Inc., et al. The Court held an insurer with financial responsibility for claims in #bankruptcy is a “party in interest” which may object to a plan of reorganization under chapter 11 of the Bankruptcy Code. #scotus #insurers #chapter11 #reorganizationplan

Great article about the impacts of Third Party Litigation Funding. When talking to carriers, this is consistently cited as one of the biggest factors driving liability insurance costs. It has changed the way that claims are settled because plaintiff attorneys are not incentivized to settle because it has reduced their risk if they don't win. My dad, Peter Horan, went through this personally with the Gawker/Hulk Hogan trial where he was an expert witness. The process was driven by a Peter Thiel vendetta who was bank rolling the plaintiff. Burford Capital (BUR) is a publicly traded company that specializes in TPLF. They made a net income of $610M in 2023. This is very profitable business (34% profit margin) that isn't going away. #insurance, #insuranceindustry, #WholesaleInsurance

September Totals...Our closing volume was roughly the same as this month last year, but a 120% increase in policy liability. Positive momentum in the commercial space has lead some money sitting on the sidelines to be deployed into larger assets. Thank you to all our clients for another strong month. Chicago Title NCS Seattle. #thankyou #cre #commercialrealestate #realestateinvesting #titleinsurance #titleandescrow #justclosed #realestate

Defense outside the limits Errors and omissions limits available up to $5 million and deductible starting at $2,500 Personal injury and wrongful eviction coverage are offered Coverage for 100% personally owned property available on Property Managers form Retroactive date coverage for no additional premium (possible full prior acts dependent on services breakdown) New ventures as well as both franchise and non-franchise firms are eligible Optional package policy available dependent on service breakdown (for property management services, general liability will not extend to properties managed)  

Did you know that you can save 100% on your empty property rates?   Our innovative, ground-breaking new scheme is approved by a leading King’s Counsel and can completely remove your liability. We are half way through 2024 and we could have saved you thousands this year already! Don't wait any longer... Drop me a call or email today to find out more #Verity #Commercial #Landlords #Assetmanagers #Savings #BusinessRates #Partners #Agents

Well folks, I've been writing stories again for a bit since the new year began, but have shown some sloth in sharing them here. But, never fear, here are my latest stories... -- C O N T E N T incoming -- “Vacuum-Pump Biz Owner Defends $59.7M Transfers Pre-Ch. 7” “The owner and ex-shareholders of a bankrupt Connecticut manufacturer tied up in asbestos liability and connected insurance claims say the company's Chapter 7 trustee cannot claw back $59.7 million in cash transfers from a holding company to those shareholders because they occurred more than a decade ago.” https://lnkd.in/eGz8ckuM “DOJ Wants Federal Rule Barring 'Judge Shopping'” “The Department of Justice has urged the federal judiciary to combat the practice of so-called "judge shopping" by adopting new rules, nodding to proposals to randomly assign civil cases brought in district divisions where only one or two judges preside.” https://lnkd.in/eDDHGqHJ “2nd Circ. Won't Rethink Revival Of Nine West Fraud Claims” “The Second Circuit has declined to revisit a panel's decision to restore claims against Nine West in a Chapter 11 lawsuit brought by bankruptcy trustees alleging the women's clothing retailer initiated $78 million in fraudulent payroll transfers.” https://lnkd.in/e9tNpbXF “Bridal Dressmaker's Ch. 11 Plan Would Protect Shareholders” “JLM, a wedding dress designer and manufacturer, has announced its plan to reorganize and emerge from bankruptcy in February in Delaware, saying this week the company would pay off its secured creditors in full, preserve equity holdings and give unsecured creditors what money it can.” https://lnkd.in/eASTwxRq