Troutman Pepper Locke

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Earlier this month, Rep. Gene Taylor (D-Miss.) reintroduced legislation, the Multiple Peril Insurance Act of 2009 (H.R. 1264), into the House of Representatives that would amend the National Flood Insurance Program (“NFIP”) to allow homeowners to purchase multiperil insurance covering windstorm damage in addition to flood damage. 

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Read More Multiperil Bill Amending NFIP Reintroduced In House

The Financial Services Authority (FSA) published its much-anticipated review of global banking regulation on 18 March 2009. The review analyses the events that led to the financial crisis and recommends reform based on a “macro-prudential” approach rather than focussing solely on specific firms. 

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Read More UK: FSA Publishes Turner Review on Global Banking Regulation

The Medicare, Medicaid, and SCHIP Extension Act of 2007 (S. 2499) (the “Act”), signed into law late last year, contains a new mandatory reporting requirement for insurers covering medical expenses. 

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Read More New Medicare Reporting Requirement for Non-Group Health Plan Providers Effective July 1, 2009

The heirs of the victim of a 1996 terrorist attack in Israel who, in an earlier federal court proceeding, were recently awarded a judgment against Hamas for over $100 million for damages suffered as a result of the terrorist attack, recently filed a Petition seeking to satisfy the outstanding judgment from funds in a Hamas bank account in the New York branch of an Egyptian bank. 

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Read More Heirs of Terror Victim Seek to Satisfy Outstanding Judgment Against Hamas Using TRIA

Amafore, the Mexican pension fund industry association, announced recently that all Mexican pension fund managers (Afores) have agreed to invest only in local instruments in the coming year in an attempt to help ameliorate the ongoing deterioration of the country’s economy. 

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Read More Mexico: Pension Funds Agree to Invest Only in Mexican Instruments

Edwards Angell Palmer & Dodge, LLP recently obtained a decision from the U.S. District Court for the Eastern District of New York granting the motion of its clients, American United Life Insurance Company, Inc. (“AUL”) and R.E. Moulton, Inc. (“REM”), to dismiss a third-party action against them in favor of arbitration. 

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Read More Court Dismisses Third Party Action in Favor of Arbitration

Jorge Claude, General Manager of the Association of Chilean Insurers, recently states that the organization expects results to improve in 2009 over 2008, based primarily on the expectation that it is unlikely Chile will see another economic collapse such as that seen in 2008. 

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Read More Chilean Insurers Predict Improved Results in 2009 Despite Likely Slower Growth

The Connecticut Supreme Court, deciding an issue of first impression in that state, recently held that coverage for bodily injury to others inflicted during an incident of self-defense by an insured constitutes an “occurrence,” and is not excluded by an intentional injury exclusion in a liability policy. 

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Read More Connecticut Supreme Court: Bodily Injuries Caused By Acts of Self-Defense Are “Accidental,” Not “Expected or Intended,” Within the Meaning of an Intentional Injury Exclusion In a Liability Insurance Policy