In Equitable Members Action Group v Her Majesty’s Treasury [2009] EWHC 2495 (Admin), the claimant action group, comprising of current and former policyholders of the Equitable Life Assurance Society (the Society), applied for a Judicial Review of HM Treasury’s rejection of certain findings by the Parliamentary Commissioner for Administration (the Ombudsman).
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EAPD WEBINAR LINK: Up Against a Chinese Drywall – Recent Developments in the Ongoing Products Liability and Coverage Litigation
By Troutman Pepper Locke on
The Insurance and Reinsurance Department of Edwards Angell Palmer & Dodge invites you to view “Up Against A Chinese Drywall: Recent Developments in the Ongoing Products Liability and Coverage Litigation” – a complimentary 60 minute webinar.
UK: LMX Spiral Claims – Landmark Decision
By Troutman Pepper Locke on
Posted in Reinsurance, United Kingdom
EU: European Insurers to Undergo Stress Tests in December
By Troutman Pepper Locke on
Posted in European Union, Regulatory
The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has announced that it will run an EU-wide stress test for Europe’s largest insurers during December. It is expected that large (re)insurers such as Hannover Re, Munich Re and Allianz will be tested.
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Senate Banking Committee Releases First Draft of American Financial Stability Act of 2009; Includes Nonadmitted and Reinsurance Reform Act and National Insurance Office
On Tuesday, November 10, 2009, the Senate Banking Committee, chaired by Senator Christopher Dodd (D-CT), released a first draft for discussion of the American Financial Stability Act of 2009 (the “Act”).
UK: Employer’s Liability Trigger Judgment – Appeal Starts Today
By Troutman Pepper Locke on
In November 2008 we reported here that the English High Court had ruled that employers’ liability policies, however they are worded, are triggered by exposure to asbestos and not when, many years later, the tumour develops.
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Read More UK: Employer’s Liability Trigger Judgment – Appeal Starts Today
EU: Third Set of Advice on Solvency II Level 2 Implementing Measures Released
By Troutman Pepper Locke on
On 2 November 2009, the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) released its third set of advice on Solvency II Level 2 implementing measures.
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District of Maine Certifies Question of What Constitutes “Cognizable Injury” from Data Breach to Supreme Judicial Court of Maine
By Troutman Pepper Locke on
Posted in Privacy/Data Security/Cyber Risk, United States
Last month, the United States District Court for the District of Maine certified a question of law to the Supreme Judicial Court of Maine regarding the issue of what constitutes cognizable injury to a consumer in a case stemming from the alleged theft of credit card data, a question of great significance in the relatively new field of data security law.
California Federal Court Holds That D&O Insurer is Permitted to Rescind Policy Based on Nondisclosure in Application
By Troutman Pepper Locke on
In a recent decision by the United States District Court for the Northern District of California, the court held that an insurer does not have to provide D&O insurance coverage to a group of bondholders who took on the responsibilities of the bankrupt insured. The ruling was based on the insured’s failure to disclose in the policy application a written demand letter alleging a breach of fiduciary duties.
Georgia Federal District Court Finds that Hot Tub Water is “Intended for Bodily Consumption”
By Troutman Pepper Locke on
The United States District Court for the Northern District of Georgia recently held that an insurer had a duty to defend under a CGL policy and umbrella policy against claims relating to a hotel guest’s alleged contraction of Legionnaire’s Disease from a dirty hot tub. …
Read More Georgia Federal District Court Finds that Hot Tub Water is “Intended for Bodily Consumption”