Troutman Pepper Locke

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Connecticut Governor Dan Malloy announced today his appointment of Thomas Leonardi as the new Insurance Commissioner of the Connecticut Department of Insurance.  Leonardi currently serves as the Chairman and CEO of Northington Partners, Inc., an insurance specialty venture capital and investment banking firm, where he has worked with insurance companies on strategic, investment, capital raising and financial advisory matters. …
Read More New Connecticut Insurance Commissioner Announced Today

According to a recent Reuters article, Cyclone Yasi is expected to cost insurers approximately AUS $3.5 billion in insured damage, according to Forecasting Service Tropical Storm Risk (“TSR”).  Cyclone Yasi, a maximum strength category five storm about the size of Italy, has drawn much comparison with Hurricane Katrina, which caused massive damage to New Orleans and surrounding states in 2005.  (Some estimate that the insured losses alone caused by Hurricane Katrina reached US $66 billion.) …
Read More Australian Cyclone Yasi Causes Major Damage, Exposes Potentially Significant Insurance Losses

In a comment letter to the U.S. Department of Health and Human Services, the American Hospital Association has asked that the final medical loss ratio (MLR) rules under the Patient Protection and Affordable Care Act be changed.  The AHA would like all capitated payments to be classified as medical claims, including the entire cost of providing delivery plus the associated administrative overhead. …
Read More AHA Letter Calls for Medical Loss Ratio Rule Changes

Edwards Angell Palmer & Dodge LLP continues its live blogging from the PLUS D&O Symposium. There were several interesting points discussed during the first panel discussion this morning. …
Read More Live Blog: D&O Symposium Thursday Panel I – Regulatory Change Simplified: A Review of Key D&O Regulatory Issues