"Direct actions" allow an injured plaintiff to file a lawsuit directly against the insurer for a defendant. Direct actions are not allowed in many jurisdictions, but some do permit direct claims. When a direct action remedy is available, the FDIC is using it in bank failure cases. Kevin LaCroix has the story in a recent post at The D & O Diary.
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“Protection gaps” are one of the results of the failure of state regulation of most forms of insurance. The gap problem – as it exists...
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