The Association of British Insurers (ABI) has published research that highlights the important role that insurance can play in meeting financial commitments when households lose a regular income.
Jurisdictions
Steve Matthews Appointed Montana Captives Coordinator
By Troutman Pepper Locke on
Posted in Industry Developments, United States
Steve Matthews has just been appointed the Captive Insurance Coordinator of the Montana State Auditor’s Office by the Montana Captive Insurance Association Inc. He replaces John Huth, who has accepted a position with the Montana Transportation Department.
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Aggressive New Massachusetts Data Breach Law and Proposed Security Rules Require Company Action
Massachusetts has become one of the most aggressive states in the country regarding protecting personal data. It has adopted a new data breach law, a new document destruction law and proposed regulations that may represent one of the most far-reaching information security requirements anywhere in the U.S. Taken together, these will have major compliance implications and will likely require more rigorous, written security policies for any company doing business in Massachusetts or holding Massachusetts personal data, wherever located. …
Read More Aggressive New Massachusetts Data Breach Law and Proposed Security Rules Require Company Action
Rod Morris, Arizona Captive Administrator, Resigns
By Troutman Pepper Locke on
Posted in Industry Developments, United States
The Arizona Department of Insurance (the “Department”) recently announced the resignation of its Captive Administrator, Rod Morris. …
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SCHIP Development – House Fails To Obtain Necessary Majority To Override President Bush’s Veto of Latest Bill
By Troutman Pepper Locke on
On two separate occasions during the past few months, President Bush has vetoed proposed extensions to the State Children’s Health Insurance Program (“SCHIP”) and it remains to be seen whether the current legislation, due to expire in 2009, will be extended while President Bush remains in office.
Abuse Claims to Increase in Light of “Lotto Rapist” UK House of Lords Decision
By Troutman Pepper Locke on
In the US, defendants and their insurers have paid out significant sums for sexual abuse claims. A landmark decision of the House of Lords in A v Hoare [2008] UKHL 6 may mean that insurers covering UK employers for similar abuse claims will begin to share the US’s experience.
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Read More Abuse Claims to Increase in Light of “Lotto Rapist” UK House of Lords Decision
UK: Regulatory: Market Reform Group (MRG) Announcement Regarding Progress on Business Process Reform
By Troutman Pepper Locke on
Posted in Regulatory, United Kingdom
The London market has made significant progress in meeting its goal of reforming business processes during 2007.
First Circuit Applies Tellabs For The First Time
By Troutman Pepper Locke on
Posted in D&O Liability, United States
In its first application of the Supreme Court’s Tellabs opinion issued last summer, the First Circuit Court of Appeals recently affirmed the dismissal of securities fraud claims against various actors associated with defaulted bonds issued by the now-defunct Bradford College. …
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Texas Attorney General Settles Bid-Rigging Charges With Insurance Carrier
In a press release dated January 29, 2008, Texas Attorney General Greg Abbott announced the settlement of a bid-rigging investigation involving American International Group Inc. Click here to review the press release, petition and final judgment with AIG. The press release states that the agreement was spearheaded by Texas Attorney General Abbott’s Antitrust Division.
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U.S. District Court Issues STOLI Decision
By Troutman Pepper Locke on
Last week, a federal district court in New York issued a ruling in Life Product Clearing LLC v. Angel, 07 Civ. 475 (S.D.N.Y) (2008), that may have implications for stranger owned/ initiated life insurance (“STOLI”) transactions.