On December 21, 2024, Governor Hochul vetoed the proposed "Grieving Families Act" legislation for the third year in a row.

The proposed law would have substantially amended New York's Estates, Powers and Trusts Law 5-4.1 and related statutes. Among other things, it would have expanded the types of damages that can be recovered in a wrongful death action to include grief or anguish caused by the death of another person. The Act would also have expanded the classes of claimants who could recover, to include anyone who had an "in loco parentis" relationship with the deceased. The Act would also have extended the statute of limitations from two to three years.

Recent legal developments have significantly impacted the enforcement of the Corporate Transparency Act (“CTA”), with a nationwide preliminary injunction issued, affecting all reporting companies. Here’s what you need to know about the current legal landscape and how it may affect your compliance obligations.

(District Court Erred in Certifying Two Subclasses Challenging the Loss of Life Insurance for Failing to Pay Premiums where the Insurer Failed to Strictly Comply With Statutorily Mandated Notice Requirements Because Plaintiffs Failed to Show that Either Subclass Met the Requirements of Federal Rule of Civil Procedure 23(a) and (b))

(Abuse or Molestation Exclusion Applied to Bar Coverage of Claims for Sexual Assault and Negligent Hiring, Supervision and Retention by Owner of a Massage Spa)

(Farmers Insurance Exchange Agent Did Not Act on Behalf of  Farmers In Connection With Placing Fair Plan Policy for Homeowner)

On Dec. 13, the North Carolina Supreme Court issued decisions in two COVID-19 business interruption coverage cases that will have far-reaching consequences for carriers doing business in the state. In one of the rulings, the state high court bucked an overwhelming national trend by holding that businesses’ inability to access or fully use their properties due to government shutdown orders may constitute a “direct physical loss” under an “all risk” property policy, while in the other, it found that a "contamination" exclusion barred coverage for losses resulting from the pandemic.

The rise of ransomware attacks has significantly impacted the cryptocurrency payment ecosystem. Cybercriminals often demand payments in cryptocurrency due to its pseudonymous nature and global accessibility. However, for businesses facilitating such transactions, including cryptocurrency payment vendors, this environment presents not only operational challenges but also complex legal and regulatory risks. Chief among these risks is the necessity of complying with U.S. sanctions, particularly those targeting various ransomware groups.