Piercing the veil of the limited liability company, from sure bet to long shot

Article Abstract:

The US Court of Appeals for the Eighth Circuit misapplied Minnesota law in Gallinger v. North Star Hospital Mutual Assurance in refusing to hold members of a limited liability company (LLC) personally liable. The state LLC statute states that the piercing the corporate veil doctrine should be applied to LLCs in the same manner that it is applied to corporations. The facts presented to the Court would have warranted application of the doctrine if a corporation was involved. Until such laws are revised, LLCs will appear to offer greater limitation of liability than corporations.

Unincorporated Business, United States, Cases, Small business, Limited liability companies, Closely held corporations, Case Note, Disregard of corporate entity, Disregarding corporate entity

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Strict liability for insurers refusing settlements within policy limits: let's quit talking about it and just do it

Article Abstract:

Insurers refusal of settlements within policy limits is best resolved by a strict liability system. In these circumstances, conflicts of interest may arise between insurer and insured that are not well resolved by any of the systems currently employed by the courts. The general benefits of strict liability coverage including lower litigation costs and spreading of risk may be shown to apply in this context. A system of strict liability should be implemented by state legislators as well as the courts.

Corporations, Tort liability, Tort liability of corporations, Strict liability

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The duty of disclosure in insurance law - the effectiveness of self-regulation

Article Abstract:

The perceived failure of some Australian Insurance Contracts Act 1984 reforms has led to an interest in insurance industry self-regulation. The British system is different from Australia's but the British experience with self-regulation should provide some insight into self-regulation's effectiveness. The perceived advantages of self-regulation are increased compliance, better enforcement and clearer rules. However, the British system does not appear to be meeting these expectations.

Insurance, Insurance Carriers and Related Activities, INSURANCE CARRIERS, United Kingdom, Australia, Industry self-regulation, Industry self regulation

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