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Effective August 23, 2010, all Deepwater Horizon Incident (the “Spill”) claims must be filed with Gulf Coast Claims Facility (“GCCF”) and no longer with BP.  Headed by its claims administrator, Kenneth R. Feinberg, the GCCF has replaced the BP claims process. …
Read More Deepwater Horizon Incident: Has Your Insured Made a Claim With BP or the Gulf Coast Claims Facility? Should it?

A dispute arose between Certain Underwriters at Lloyd’s London and R.A. Wilson & Associates, Ltd concerning an insurance policy.  After a lawsuit was filed, the court ordered the parties to proceed to arbitration based upon the insurance policy’s arbitration agreement. …
Read More New York Federal Court Refuses to Appoint Umpire, Finding That Arbitration Clause Provided Sufficient Mechanism

In August, the Bermuda Monetary Authority, in conjunction with the Bermuda Insurance Managers Association, published its third annual report on the Bermuda captive insurance market. The report, captioned “Bermuda Captives at the Close of the Decade: A Global Reflection,” builds on two previous reports: “A profile of the Bermuda Captive Insurance Market” dated February 2009 and “The Bermuda Captive Insurance Market – 2008 Update.” …
Read More Bermuda Monetary Authority Publishes Report on the Bermuda Captive Insurance Market

It is reported in the press that the PWC administrators of Lehman Brothers International (Europe) Limited (LBIE), the London-based arm of the Lehman bank, are to appeal the recent Court of Appeal ruling relating to the distribution of segregated client funds. The first instance judge held that those clients of LBIE whose funds should have been segregated, but were not, were not entitled to share in the pot of client money. …
Read More UK: Lehman English Administrators to Appeal Court of Appeal Ruling

In Deo Antoine Homawoo v GMF Assurance SA and others [2010] EWHC 1941 (QB) the High Court had to determine, as a preliminary issue, whether Rome II (a regime for determining the law applicable to non-contractual obligations) applied to Homawoo’s claim against GMF Assurance, a French insurance company, for damages for personal injury caused to Homawoo during a road traffic accident in France. …
Read More UK: Uncertainty as to the Temporal Scope of Rome II

The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has published its final advice to the European Commission on the Equivalence assessments to be undertaken in relation to Articles 172, 227 and 260 of the Solvency II Directive. The advice follows the draft advice previously published (see here) in July 2010. …
Read More EU: CEIOPS Publishes Final Solvency II Equivalence Advice

In a judgment today, in the case of Akzo Nobel Chemicals Ltd and Akcros Chemicals Ltd v Commission, the European Court of Justice (ECJ) ruled that, under European Union law, internal company communications with in-house lawyers are not protected by legal professional privilege (LPP). …
Read More Client Advisory – ECJ Confirms No Change to European Rules on Legal Professional Privilege for In-House Lawyers