Jurisdictions

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The Financial Services Authority (the FSA) has recently announced a temporary rule which will allow customers with complaints about the purchase of a payment protection insurance (PPI) policy more time within which to refer it to the Financial Ombudsman Service (the FOS). This temporary rule has been introduced without consultation. …
Read More UK: The Financial Services Authority Introduces Temporary PPI Rule

MP Jonathan Djanogly, Parliamentary Under-Secretary of State at the Ministry of Justice, has confirmed to Parliament that the new Government will not seek to overturn the House of Lords’ decision that asymptomatic pleural plaques were not compensatable. He also confirmed that the Government would “proceed with the implementation of the previously announced limited extra-statutory scheme to provide one-off payments to individuals who had begun, but not resolved, a legal claim for compensation for pleural plaques at the time of the House of Lords judgment.” …
Read More UK: New Government Confirms Labour’s Pleural Plaques Decision

Recently, a Pennsylvania federal court dismissed a bad faith claim against an insurer on the grounds that the claim was subsumed by the plaintiff’s breach of contract claim in the same proceeding. …
Read More Pennsylvania Federal Court Dismisses Bad Faith Claim as Subsumed by Breach of Contract Claim, But Allows Statutory Bad Faith Claim

The 2011 Rhode Island state budget, which was enacted as HB 7397A and signed into law June 2, 2010, amends the taxation statutes applicable to surplus lines insurers and the Medical Malpractice Joint Underwriters Association.  Article 9 of HB 7397A contains both amendments. …
Read More Rhode Island 2011 Budget – Tax Implications for Surplus Lines Insurers and Medical Malpractice Joint Underwriters Association

In a decision issued on February 1, 2010, the United Stated Court of Appeals for the Second Circuit confirmed that under New York law some policy provisions, although placed outside of the policy’s “Exclusions” section, may nonetheless be considered an exclusion and, therefore, subject to the timely disclaimer and denial requirement of NY Insurance Law § 3420(d)(2). …
Read More Second Circuit: Distinguishing Between Policy Definitions Subject to NY Insurance Law § 3420(d)(2)’s Timely Disclaimer Requirement as an Exclusion and Those That Are Not

The Flow Rate Technical Group, a federal panel, now estimate that 20,000 to 40,000 barrels of oil a day are flowing into the Gulf of Mexico as a result of the Deepwater Horizon explosion.  This new range is far above the previous estimate of 12,000 to 19,000 barrels per day. …
Read More UPDATE: New Estimates Double — BP Oil Spill is the Equivalent to the Exxon Valdez Disaster Gushing Into the Gulf of Mexico Every 8 to 10 Days

The Deutsche Bank Americas Foundation is financing a database of hundreds of buildings that have been sustainably retrofitted in New York City.  The database will track lighting changes, detail HVAC improvements, insulation upgrades, window replacements, potable water reduction and other substantial green adaptations, along with their respective cost and efficiency savings for building owners and occupants. …
Read More “Green” Database to Track and Report on Retrofitted Buildings in New York City

In a recent decision, In re Assicurazioni Generali, 592 F.3d 113 (2d Cir. 2010) (“Generali”), the United States Court of Appeals for the Second Circuit affirmed the dismissal of plaintiffs’ claims on the ground that they were preempted by an Executive Branch foreign policy favoring the resolution of such claims solely through the International Commission on Holocaust Era Insurance Claims (“ICHEIC”). …
Read More Recent Second Circuit Decision Denies Insurance Claims Against Italian Insurer on Holocaust-era Policies ― Upcoming Supreme Court Nominee’s Senate Judiciary Committee Hearing to Focus on the Decision