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The U.S. Reinsurance Under 40s Group, Inc. invites you to our next event, which will take place on March 12 at QBE the Americas’ office in downtown New York.  The Re Under 40s Group welcomes Frank Nutter, President of the Reinsurance Association of America (RAA), and his daughter Alycia Kiley, Vice President at Riggs, Counselman, Michaels & Downes (RCM&D), as they present insights on hot industry topics and lead a discussion about how reinsurance companies and organizations can better communicate with young professionals in today’s networked world. …
Read More The U.S. Re Under 40s Presents “It’s Not Your Father’s Reinsurance Anymore – Putting Reinsurance in Your Terms” – a Complimentary Event on March 12

On January 29, 2009, the New York Insurance Department (“NYID”) released a draft regulation on producer compensation transparency (the “Draft Regulation”), which aims to protect public interests by setting forth minimum disclosure requirements regarding the role of insurance producers and the “actual or potential conflicts of interest created by compensation paid to insurance producers.” …
Read More New York Releases Draft Regulation on Producer Compensation Transparency

In September 2008 we reported on the advisory opinion of the Advocate General of the European Court of Justice (ECJ) in Allianz SpA v West Tankers regarding the English courts’ ability to issue anti-suit injunctions in support of arbitration agreements. The Advocate General stated that it was incompatible with EC regulation 44/2001 (Regulation) for a court of a Member State to injunct a person from commencing or continuing proceedings in another Member State on the ground that it would be contrary to an arbitration agreement. 

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Read More EU: ECJ Blow to Arbitration

The Connecticut legislature has proposed a new bill, SB-763, An Act Concerning the Connecticut Unfair Insurance Practices Act, which could potentially enable Connecticut consumers to sue insurers for unfair claim practices.  Click here for a copy of the proposed bill. 

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Read More Connecticut Legislature Proposes Bill to Broaden Consumers’ Rights by Enabling Consumers to Sue Insurers for Unfair Claim Practices

The United States District Court for the Central District of California recently held that state law consumer fraud claims and federal fraud claims pursuant to the Racketeer Influenced and Corrupt Organizations Act (“RICO”) are not preempted by the federal Food, Drug and Cosmetics Act (“FDCA”) if such claims are based on specifically identifiable false or misleading representations or material omissions. 

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Read More California Federal Court: Off-Label Promotion: State Law Consumer Fraud Claims and Federal RICO Claims Are Not Necessarily Preempted by Food, Drug and Cosmetics Act

The United States Court of Appeals for the Second Circuit recently reversed the dismissal of a lawsuit alleging that drug manufacturer Pfizer, Inc. violated the Federal Alien Tort Statute (“ATS”) and certain state statutes by conducting a medical experimentation on humans without their informed consent or knowledge. 

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Read More Federal Appeals Court Reverses Dismissal of Africa Drug Testing Case Against Pfizer

This updates our January, 15, 2009 posting.  On February 4, 2009, President Obama signed into law the Children’s Health Insurance Program Reauthorization Act of 2009 (H.R. 2) (the “Act”).  The Act extends the State Children’s Heath Insurance Program (“SCHIP”) through the 2013 fiscal year and expands SCHIP to cover an estimated 4 million additional children. …
Read More UPDATE: SCHIP Extension Signed Into Law

According to a recent report in USA Today (available here), criminal attempts to use the internet to steal personal data – including credit card numbers, account user names, passwords, and Social Security numbers – have increased since the financial crisis began last fall, and could continue to accelerate if laid-off IT personnel turn to cybercrime to replace lost income. …
Read More Recent Boom in Cybercrime “Could Accelerate” Say Data Security Experts