The Supreme Court has handed down its decision in the Employers’ Liability Insurance Trigger Litigation (see judgment here). The ruling has provided clear rules governing how EL policies should respond to mesothelioma claims.
Read More UK: Light on the Trigger – Supreme Court Decision in the EL Trigger Litigation
Jurisdictions
BMA Lowers SPI License Fees
By Troutman Pepper Locke on
Posted in Bermuda, Regulatory
The Bermuda Monetary Authority (“BMA”) has taken the dramatic and competitive action of reducing its annual registration fees for Special Purpose Insurers (“SPI”) by almost 50% from $11,600 to $6,000. Click here for the BMA’s press release. …
Read More BMA Lowers SPI License Fees
Industrial Threat Cyber Attacks Challenge Business
Edwards Wildman partner Vince Vitkowsky authored an article that is part of Business Insurance’s March 19, 2012 special edition on Cyber Risks. In the article, which you can read here, he addresses cyber attacks with physical effects, which are coming to be referred to as “Industrial Threats.” …
Read More Industrial Threat Cyber Attacks Challenge Business
EU: Competition Commission Progresses Review of Business Insurance Sector
By Troutman Pepper Locke on
Posted in European Union, Regulatory
The European Commission’s Directorate-General Competition (DGC) has issued further questionnaires to a number of co-insurance firms with European subsidiaries. The study, conducted by Ernst and Young, is set to further investigate competitiveness amongst European participants to the subscription market, with a particular focus on whether the automatic upward alignment in premiums is still prevalent in the subscription market. …
Read More EU: Competition Commission Progresses Review of Business Insurance Sector
Join the U.S. Re under 40s on Thursday in New York
By Troutman Pepper Locke on
The next Re Under 40s Group event is this Thursday at the 13th Step. Click here for more details about the event and RSVP information. See you there! …
Read More Join the U.S. Re under 40s on Thursday in New York
EU: Regulatory: European Commission Publishes Green Paper on Shadow Banking
By Troutman Pepper Locke on
Posted in European Union, Regulatory
On 19 March 2012, the European Commission (the Commission) published a Green Paper on shadow banking activities (see the full Green Paper here). …
Read More EU: Regulatory: European Commission Publishes Green Paper on Shadow Banking
Healthcare Update: HHS Issues Final Rules for Insurance Exchanges, Medicaid Eligibility, Insurance Plan Coverage and Student Health Insurance Plans
By Troutman Pepper Locke on
Posted in Healthcare, United States
As the two-year anniversary of the enactment of the Patient Protection and Affordable Care Act (PPACA) approaches, the federal government seems to be accelerating its efforts to provide long-promised guidance to implement the health reform law. …
Read More Healthcare Update: HHS Issues Final Rules for Insurance Exchanges, Medicaid Eligibility, Insurance Plan Coverage and Student Health Insurance Plans
Massachusetts Division of Insurance Schedules March 30th Hearing to discuss Workers’ Compensation Rate Increase Requests
By Troutman Pepper Locke on
The Massachusetts Division of Insurance has scheduled a hearing to discuss the rate filing made by the Workers’ Compensation Rating and Inspection Bureau of Massachusetts (“WCRIBMA”) requesting that its members’ average rates for industrial classes be increased by 19.3% and its average rates for F-Classes be increased by 20.0%. …
Read More Massachusetts Division of Insurance Schedules March 30th Hearing to discuss Workers’ Compensation Rate Increase Requests
UK: Enforcement of Declaratory Arbitral Awards is Confirmed by the Court of Appeal
By Troutman Pepper Locke on
Posted in Arbitration, United Kingdom
The Court of Appeal has confirmed that a declaratory award under section 66 of the Arbitration Act can be enforced by the English courts in the same manner as a judgment. …
Read More UK: Enforcement of Declaratory Arbitral Awards is Confirmed by the Court of Appeal
UK: Consumer Insurance (Disclosure & Representations) Act 2012: Summary & Commentary
By Troutman Pepper Locke on
Posted in United Kingdom
The Consumer Insurance (Disclosure & Representations) Act 2012 received Royal Assent on 8 March 2012 (click here for the text). It’s short and tolerably clear, but its effect is wider and deeper than you might expect. …
Read More UK: Consumer Insurance (Disclosure & Representations) Act 2012: Summary & Commentary