Troutman Pepper Locke

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On September 6, 2007, Maryland Governor Martin O’Malley named Ralph S. Tyler as the new Maryland Insurance Commissioner.  Tyler is an attorney with over 30 years of legal experience.  He currently serves as Maryland’s Chief Legal Counsel and was City Solicitor from 2004 to 2007.  

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Read More Ralph S. Tyler Named as Maryland’s New Insurance Commissioner

Over the last ten years, states have been moving, albeit slowly, to deregulate automobile insurance.  Supporters of deregulation often cite the high premiums, distorted rates and lack of choices that drivers experience under a regulated system.  They argue that in states that rely on markets to set rates, neither prices nor profits are excessive. 

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Read More Massachusetts Insurance Commissioner Proposes Regulation to Deregulate Automobile Insurance

Recently, the California Supreme Court held that the alleged victims of child abuse by certain priests in the Catholic Church will not have access to the reinsurance information of the defendant Church’s nonparty liability insurers in the course of discovery. 

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Read More California Supreme Court Finds Reinsurance Information Outside the Scope of Discovery Rules

According to a recent report from credit rating agency Fitch Ratings, subprime lending exposure is not expected to present a significant rating issue for the reinsurance sector.  Noting that reinsurers typically seek to generate underwriting income rather than spread-based income, Fitch observes that most reinsurers have avoided heavy investments in subprime mortgage-backed securities. 

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Read More Subprime Lending Unlikely to Impact Reinsurance Sector: Rating Agency

As discussed here, the Fifth Circuit Court of Appeals recently heard oral argument on the appeal in the Katrina case of Leonard v. Nationwide Mutual Insurance Company.  Last week, the Fifth Circuit affirmed the August 2006 holding of the district court, and held that most of the damage to the Leonards’ property was not the result of covered wind damage, but the Fifth Circuit disagreed with much of the district court’s rationale. 

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Read More Fifth Circuit Affirms District Court’s Decision in Leonard v. Nationwide and Enforces ACC Clause