Insurance Companies: Property and Casualty
This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) insurance policies that protect policyholders against losses that may occur as a result of property damage or liability.
‘Undue’ Scrutiny of Expert’s Data Triggers Erroneous Exclusion
Seventh Circuit overturns district court’s decision to exclude plaintiff expert’s business loss calculation, finding the lower court “exercised its role as gatekeeper under Daubert with too much vigor” when it “unduly” scrutinized the quality of the exper ...
Manpower, Inc. v. Insurance Co. of Pennsylvania (III)
Seventh Circuit overturns district court’s decision to exclude plaintiff expert’s business loss calculation, finding the lower court “exercised its role as gatekeeper under Daubert with too much vigor” when it “unduly” scrutinized the quality of the exper ...
Damages Calculation Resting on Loan Sampling Is ‘Solid’
In breach of contract action involving loan pools, federal court rejects Daubert challenge to expert’s calculation of damages based on statistical sampling.
Assured Guaranty Municipal Corp. v. Flagstar Bank, FSB
In breach of contract action involving loan pools, federal court rejects Daubert challenge to expert’s calculation of damages based on statistical sampling.
Expert’s ‘Judgment’ in Selecting Growth Rate Needs Proof of Guiding Principles
Court declines to reconsider Daubert ruling, finding the expert failed to support his selection of the growth rate in lost profits calculations with reliable, guiding principles.
Manpower, Inc. v. Insurance Co. of Pennsylvania (II)
Court declines to reconsider Daubert ruling, finding the expert failed to support his selection of the growth rate in lost profits calculations with reliable, guiding principles.
Expert’s Analysis of Business Interruption Loss Breaks Over Selection of Growth Rate
Expert’s analysis of business-interruption losses breaks down over selection of a revenue growth rate from a short (five-month) period prior to the business injury.
Business Interruption Loss: Expert Should Consider Only Historical Sales
5th Circuit finds that only historical sales figures should factor into business-interruption lost profits claims and not an entity’s experience following the disaster.
Manpower, Inc. v. Insurance Co. of Pennsylvania (I)
Expert’s analysis of business-interruption losses breaks down over selection of a revenue growth rater from a short (five-month) period prior to the business injury.
Lifetime Lost Profits Subject to Contractual Termination Limits
Court reduces an expert’s “lifetime” award of lost profits to the three-month termination/notice provisions under the employment contract.
CPA/Expert Rescues Insured From Post-Katrina Losses
Federal court confirms jury award of over $560,000 in business interruption losses due to damage to nursing home facility in the wake of Hurricane Katrina (2005).
Farmers Insurance Exchange v. Hudson
Court reduces an expert’s “lifetime” award of lost profits to the three-month termination/notice provisions under the employment contract.
Biz Interruption Losses: Provide Proof Within Time of Reasonable Repairs
Insured must provide reasonably certain proof of business interruption losses (lost profits) within time it could have made reasonable repairs.
Buffman, Inc. v. Lafayette Insurance Co.
Federal court confirms jury award of over $560,000 in business interruption losses due to damage to nursing home facility in the wake of Hurricane Katrina (2005).
A ‘Facts Too Good to Be True’ Family Limited Partnership Case?
Tax Court finds excellent facts regarding formation and legitimate, nontax purpose of a family limited partnership, sufficient to value its interests at a stipulated discount for purposes of estate tax.
Catlin Syndicate Ltd. v. Imperial Palace of Mississippi
5th Circuit finds that only historical sales figures should factor into business-interruption lost profits claims and not an entity’s experience following the disaster.
B.S.S.B. Inc. v. Owners Insurance Co.
Insured must provide reasonably certain proof of business interruption losses (lost profits) within time it could have made reasonable repairs.
Estate of Black v. Commissioner
Tax Court finds excellent facts regarding formation and legitimate, non-tax purpose of a family limited partnership, sufficient to value its interests at a stipulated discount for purposes of estate tax.
Neutgens v Westfield Group
Income-loss benefits under the Minnesota No-Fault Automobile Insurance Act include compensation for the salary loss of an employee who is the sole shareholder of the employing corporation and are not contingent on proof that the employee’s injuries res ...