Jurisdictions

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On 13 May 2008 the European Commission and the United States issued a joint statement through the Transatlantic Economic Council (TEC), committing themselves to reaching the shared objective of economic integration. This followed a TEC forum on insurance issues such as US reinsurance collateral requirements, the EU’s Solvency II directive and the US Treasury Department’s recent recommendation of an optional federal charter system for the insurance industry. 

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Read More EU and US Officials Pledge Level Insurance Playing-Field

The Delaware Chancery Court recently held that a corporation could unilaterally amend its by-laws to limit or repeal a director’s advancement right, provided that the director’s advancement right had not already vested prior to such amendment. …
Read More Delaware Chancery Court: Corporation May Unilaterally Limit or Repeal Director’s Right to Advancement

As the general insurance comparison website industry has expanded in recent years, the FSA has carried out a fresh review into general insurance comparison websites (the review). This fresh review comes in light of a study, commissioned by the British Insurance Brokers’ Association (BIBA), which showed potential for serious consumer detriment across insurance comparison websites. 

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Read More UK: Regulatory: The Financial Services Authority (FSA) Calls for Fairness in Insurance Comparison Websites

In a crowded court room of the High Court on Friday 2 May, the pre-trial review for six lead test cases in the employers’ liability trigger litigation was heard by Mr Justice Burton. The trial date has been set for 3 June 2008 and the trial is scheduled to end by the beginning of August. …
Read More UK: High Court to Decide Which Policies Should Respond to Asbestos Claims

The Government of Bermuda has reinforced its commitment to ensuring that Bermuda has a strong, robust and effective regime for the combating of money laundering and terrorist financing by issuing, for consultation and comment, draft legislation and other related documents relating to Anti-Money Laundering (AML) and Counter Terrorism Financing (CTF). 

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Read More Bermuda Issues Draft Legislation Relating to Anti-Money Laundering and Counter Terrorism Financing