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The Colorado Privacy Act (“ColoPA” or “Act”) has been sent to Governor Jared Polis’s office to be signed into law, making Colorado the third state to enact comprehensive privacy legislation (coming behind California and Virginia).
Illinois Gov. J.B. Pritzker signed the Prejudgment Interest Act into law on May 28, 2021. The Act amends 735 ILCS 5/2-1303 to provide recovery of 6% prejudgment interest in addition to the 9 % post-judgment interest already permitted. Effective July 1, 2021, the newly added Section (c) mandates that prejudgment interest will accrue on monetary awards (minus punitive damages, sanctions, statutory attorney’s fees, and statutory costs) rendered in personal injury and wrongful death actions at a rate of 6% percent per annum from the date of filing up to five years.
Kennedys reaffirms commitment to diversity and inclusion agenda, as a global partner of 2021 Dive In festival
We are delighted to again be a global partner of Dive In, the international festival for diversity and inclusion (D&I) in insurance and an initiative of Inclusion@Lloyd’s.
Florida court rules that auto insurer cannot invoke exceptions to the Eight Corners Rule to avoid duty to defend visibly drunk driver
A liability insurer’s duty to defend a third-party lawsuit in Florida is triggered when the complaint against the insured alleges facts that potentially bring the action within the policy’s coverage grant. Like courts in other jurisdictions, Florida courts generally apply the eight corners rule that restricts the court’s analysis of the issue to the terms in the four corners of the policy and the allegations inside the four corners of the complaint.
Kennedys is implementing a hybrid working policy which will allow people to work from home up to 40% of the time.
Kennedys has been ranked as a Leading Firm in The Legal 500 US 2021, the guide to outstanding firms and lawyers across the United States.
Insurers facing increased exposure to Florida bad faith claims in recent years received some relief with the Eleventh Circuit Court of Appeals’ decision in Heather Eres v. Progressive American Insurance Co., No. 20-11006 (11th Cir. June 1, 2021). The Eleventh Circuit affirmed summary judgment for Progressive American Insurance Company. In doing so, the court found that Progressive did not act in bad faith toward its insured in attempting to settle Heather Eres’s bodily injury claim.
The implications of the Delaware Supreme Court’s pronouncement that D&O liability for actual fraud is insurable
On March 3, 2021, the Delaware Supreme Court announced in RSUI Indemnity Co. v. Dole Food Company, Inc., et al., 248 A.3d 887 (Del. 2021) (“Dole”), that Delaware public policy permits indemnity insurance coverage for liability arising from fraud. Therefore, in Delaware, unscrupulous executives found to have lied to investors may potentially avoid direct responsibility for any damages caused and simply pass the buck for any judgment or settlement to the company’s Director’s & Officer’s (“D&O”) insurer.
Tik Tok: In 60 Seconds, 4 takeaways from the Colonial Pipeline Cyberattack that every company should know
On June 8, 2021, the CEO of the Colonial Pipeline Company, Joseph Blount, testified before the Senate Homeland Security and Governmental Affairs Committee about the ransomware cyberattack suffered by his company last month at the hands of the hacker group, the Dark Side. The attack caused the company to shut down its pipeline, which delivers approximately 45% of the East Coast's fuel supply.
As of May 26, 2021, the estimated market capitalization of the cryptocurrency market exceeded USD 1.7 trillion despite recent market fluctuations. There is growing interest by a wide range of publicly traded companies in incorporating crypto into their business models given the ongoing market development.