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On 12 July 2010 the Secretary for Financial Services and the Treasury, Professor K C Chan, released a consultation paper entitled “Proposed Establishment of an Independent Insurance Authority”. The insurance sector and the public have a 3 month consultation period (which ends on 11 October 2010) in which to provide their views. …
Read More Hong Kong: Government Proposes to Establish Independent Insurance Authority

Plaintiff moved to compel production of defendant American Red Cross’ reinsurance agreements.  Defendant objected on the grounds that it was self-insured up to $1 million, and, in its counsel’s opinion, any judgment in the action would not exceed that amount. …
Read More Federal Court Orders Party to Produce Copies of its Reinsurance Agreements Under Fed. R. Civ. P. 26

In response to the Centers for Medicare and Medicaid Services’ (CMS’) proposed hospital inpatient rule for FY 2011, lawmakers urged the agency to reconsider payment reductions in a July 12 letter.  The following week, the agency released its proposed rules for home health and skilled nursing facilities.  In other news, the Department of Health and Human Services (HHS) issued final rules for achieving “meaningful use” of electronic health records. …
Read More Healthcare News from Capitol Hill and the Department of Health and Human Services – July 26, 2010

We have been tracking developments at the RAA Re Contracts Conference, which took place this week in New York, as previously reported on www.insurereinsure.com. …
Read More Update from RAA Re Contracts Conference – Presentation on Extra Contractual Obligations and Losses in Excess of Policy Limits

The Obama Administration, through the Office of Management and Budget, has reiterated its position that it is against the expansion of the National Flood Insurance Program (“NFIP”) to include coverage for windstorm damage. …
Read More Obama Administration Reiterates Opposition of NFIP Expansion to include Windstorm Coverage

In Ghadami and Ghadami v Lyon Cole Insurance Group [2010] EWCA Civ 767, the Court of Appeal considered whether the deputy judge at first instance had erred in assessing that the claimant’s liability was limited to paying the excess of the insurance policy. …
Read More UK: Court of Appeal Considers Whether Lack of Client Care Letter Prevents Recovery of Insured Costs

In B v A [2010] EWHC 1626 (Comm), Mr Justice Tomlinson was asked to determine a preliminary issue concerning whether the claimant (B) had a realistic prospect of challenging an arbitration award (the Award) under sections 67 and 68 of the Arbitration Act 1996 (the Act). …
Read More UK: English Commercial Court Considers Challenge to an Arbitration Award