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In Anthony Nathaniel Bennett v. Leonard John Stephens and Zenith Insurance Company [2012] EWHC 1 (QB), the Court was asked to consider the effect of a consent order (the Consent Order) between the parties and the reinsurer of Zenith, Faraday Underwriting Ltd (Faraday). …
Read More UK: Motor Insurers’ Bureau Cannot Guarantee Future Unsatisfied Payments of Road Traffic Accident Damages

The fourth and final panel of the 2012 PLUS D&O symposium’s first day focused its discussion on the current claim cycle, and where the industry finds itself.  The panel’s discussion was driven largely by questions from the moderator and the audience. …
Read More PLUS D&O Symposium 2012 – Day 1 Fourth Panel: Where In The Cycle Are We?

The third panel on day one of the PLUS D&O Symposium addressed developments arising from the financial crisis and the implications of these developments for D&O insurers, and assessed the current and potential future impact on the underwriting of financial institutions.  One panelist believes that the industry has weathered the financial crisis fairly well. …
Read More PLUS D&O Symposium 2012 – Day 1 Third Panel: Financial Institutions Underwriting: Is It Safe to Come Out Now?

In the second panel of the PLUS D&O Symposium, the panelists discussed the recent rise in litigation following mergers and acquisitions.  One panel member recalled that around 84% of M&A deals result in litigation, with an average of five lawsuits filed in each case. …
Read More PLUS D&O Symposium 2012 — Day 1 Second Panel: What’s New in M&A Litigation and How Did We Get Here?

The first panel of the 2012 PLUS D&O Symposium discussed some of the latest trends in securities litigation and opined on potential future developments which may impact the D&O industry. …
Read More PLUS D&O Symposium 2012 — Day 1 First Panel: Latest Trends in Securities Litigation and Dodd-Frank

The Seventh Annual American Bar Association Homeland Security Law Institute is taking place in Washington DC on March 22 and 23, 2012.  The Institute addresses a wide range of subjects of interest to the private and public sectors, many of which are directly relevant to the insurance industry. …
Read More Two Edwards Wildman LLP Partners on Panel at ABA Homeland Security Law Institute

The captain of the 114,137 gross ton, 952-foot long, 4,000+ person, six-year-old Costa Concordia cruise ship who ran it aground last month reportedly initially characterized the vessel as having suffered a “small technical failure.” …
Read More A “Small Technical Failure” – Liability and Coverage Aspects Related to the Wreck of the Costa Concordia

WHITE HOUSE BRIEF SAYS PPACA CAN SURVIVE WITHOUT INDIVIDUAL MANDATE
In a brief filed on January 27, the Obama administration told the U.S. Supreme Court that the Patient Protection and Affordable Care Act (PPACA) could survive even if the individual mandate provision were declared unconstitutional. The mandate, set to take effect on January 1, 2014, would require most U.S. citizens to obtain health insurance or pay a penalty. …
Read More Healthcare Update: White House Brief Says PPACA Can Survive Without Individual Mandate; Texas Denied MLR Waiver

In the case of (1) Sealion Shipping Limited (2) Toisa Horizon Inc v Valiant Insurance Co [2012] EWHC 50 (Comm), Mr Justice Blair held that a marine insurer could not avoid liability for machinery breakdown under a loss of hire policy. …
Read More UK: Court Rules on the Materiality of Non-Disclosures, and the Meaning of “Want of Due Diligence” in a Marine Policy