Yesterday, October 20, 2009, Mark Everiss and Nick Pearson attended the second day of the AIRROC/Cavell Commutations and Networking Event 2009.
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Jurisdictions
Barbara Murray of Kemper Named as AIRROC’s Run-Off Person of the Year
At the lavish opening dinner of the AIRROC/Cavell Commutations and Networking Event 2009, Barbara Murray of Kemper was named as AIRROC’s run-off person of the year.
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AIRROC/Cavell Commutations and Networking Event 2009
The 2009 AIRROC/Cavell Commutations and Networking Event in New Jersey USA, began yesterday, October 19, 2009, with Mark Everiss and Nick Pearson of Edwards Angell Palmer & Dodge amongst the record number of attendees at this event.
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NAIC Moves Towards Principles Based Reserving for Life Insurance
By Troutman Pepper Locke on
The National Association of Insurance Commissioners (“NAIC”), at the Executive/Plenary session of its Fall National Meeting, adopted revisions to the Standard Valuation Model Law (“Valuation Model”) replacing the existing formula based approach for reserving life insurance policies with a principles based approach.
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Massachusetts May Permit Exclusion Of Terrorism From Commercial Fire Policies
The Massachusetts Joint Committee on Financial Services recently held a hearing regarding H.B. 960 (the “Bill”), which would permit commercial fire policyholders to exclude terrorism from their coverage. …
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EU: Revised Draft Block Exemption Regulation (BER) for Insurance Sector
By Troutman Pepper Locke on
On 5 October the European Commission (the Commission) published its revised draft BER for the insurance sector. …
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UK: English Court Rules That it Has Jurisdiction to Hear Reinsurance Claim Between a Bermudian Insurer and a Swiss Reinsurer
By Troutman Pepper Locke on
Posted in Reinsurance, United Kingdom
In Gard Marine & Energy Ltd ( A company incorporated under the laws of Bermuda) v (1) Lloyd Tunnicliffe (2) Glacier Reinsurance AG (A company incorporated under the laws of Switzerland) (3) Agnew Higgins Pickering & Co Ltd [2009] EWHC 2388 (Comm), the English Commercial Court was asked to consider whether the dispute between Gard and Glacier Re should be heard by the English courts. …
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UK: Commissioner Highlights Key Future Developments for Insurance Contract Law Reform Project
By Troutman Pepper Locke on
Posted in Regulatory, United Kingdom
On 16 October 2009, the Law Commissioner, David Hertzell addressed a meeting of the British Insurance Law Association to highlight some of the key developments on this project. …
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HK: Insurance Market Performance in 2008 and 2009 to Date
By Troutman Pepper Locke on
Posted in Hong Kong, Regulatory
According to the Provisional Statistics on Hong Kong Insurance Business for 2008 recently published by the Hong Kong Insurance Authority (IA), gross premiums for general insurance business increased by 11.3% to HK$27 billion and net premiums were up 12.3% to HK$19.2 billion, compared with 2007. …
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HK: Ernst & Young Settle the Akai Holdings Case
By Troutman Pepper Locke on
Posted in Hong Kong, Insolvency, Restructuring and Run-Off
Ernst & Young (“E&Y”) has settled the Akai Holdings (“Akai”) case with Akai’s liquidator, Borrelli Walsh. In the case, E&Y was accused of negligence for failing to avert Akai’s collapse in 2004. …
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