APPLIED UNDERWRITERS, INC. v. LARA

No. 21-15679, No. 21-16159.

37 F.4th 579 (2022)

APPLIED UNDERWRITERS, INC., a Nebraska Corporation; Applied Risk Services, Inc., a Nebraska Corporation, Plaintiffs-Appellants, v. Ricardo LARA, Insurance Commissioner for the State of California, in his official capacity; Kenneth Schnoll, California Dept. of Insurance Deputy Commissioner, in his official capacity; Bryant Henley, California Dept. of Insurance Deputy Commissioner, in his official capacity, Defendants-Appellees. California Insurance Company, a New Mexico corporation, Plaintiff-Appellant, v. Ricardo Lara, Insurance Commissioner for the State of California, in his official capacity; Kenneth Schnoll, California Department of Insurance Deputy Commissioner, in his official capacity; Bryant Henley, California Department of Insurance Deputy Commissioner, in his official capacity, Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Filed June 10, 2022.


Attorney(s) appearing for the Case

Samuel C. Kaplan (argued), Boies Schiller Flexner LLP, Washington, D.C.; Maxwell V. Pritt , Beko O. Reblitz-Richardson , and Reed D. Forbush , Boies Schiller Flexner LLP, San Francisco, California; for Plaintiffs-Appellants.

Michael J. Strumwasser (argued), Dale K. Larson , Caroline Chiappetti , and Julia Michel , Strumwasser & Woocher LLP, Los Angeles, California; Cynthia J. Larsen , Justin Giovannettone , and Mark C. Smith , Orrick Herrington & Sutcliffe LLP, Sacramento, California; for Defendants-Appellees.

Concurrence by Judge Nguyen.


OPINION

In business, as in life, it is necessary to take risks. Indeed, fortune favors the bold.1 Sometimes you win, sometimes you lose. And when you lose, the loss should be paid. Here, Steven Menzies, Chief Executive Officer of Applied Underwriters, Inc. ("Applied") and President of California...

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