Jurisdictions

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Effective January 1, 2014, the California Department of Insurance has added six new regulations to Title 10 of the California Code of Regulations. These can be found at Title 10, Chapter 5, Article 22 Sections 2598 through 2598.6. …
Read More California Adds New Hazardous Financial Condition Regulations

The Alexandros T [2013] UKSC 70 concerned the application of Articles 27 and 28 of EC Regulation 44/2001 (the Brussels Regulation). Where proceedings are issued in more than one Member State and involve the same cause of action, Article 27 requires any court other than the first seised to stay proceedings until jurisdiction is established by the first court seised. …
Read More UK: Supreme Court Refuses a Stay of Proceedings, Allowing Insurers to Pursue Damages for Breach of Settlement and Jurisdiction Agreements

In Rathbone Brothers Plc & Mr Michael Paul Egerton- Vernon v Novae Corporate Underwriting & Ors [2013] EWHC 3457 (Comm), Rathbone Brothers Plc (Rathbone) and Mr Michael Paul Egerton-Vernon (PEV) brought proceedings in the English High Court to recover under the excess layer of a professional indemnity insurance policy held with Novae Corporate Underwriting & Ors (Novae). …
Read More UK: English High Court Considers the Impact of a Consultancy Agreement on the Policy of Insurance and the Right to Subrogation

In a lengthy judgment, Mr Justice Andrew Smith found that damage resulting from the grounding of the vessel “Irene EM” was caused by an insured peril and, as a consequence, was covered by insurance. The judge also held that the vessel was a constructive total loss (CTL). …
Read More UK: English High Court Holds Vessel a Constructive Total Loss

The California Court of Appeal, Third District, in Yanez v. Plummer, 2013 WL 5915639, Cal. Ct. App. 3d Dist., No. C070726 (Nov. 5, 2013) recently held that a former employee deposed in connection with a co-worker’s personal injury suit may pursue malpractice claims against in-house counsel who failed to disclose the conflict of interest created by counsel’s dual representation of the employer-railroad and the employee. …
Read More California Court of Appeal, Third District Holds In-House Attorney May Be Liable for Malpractice for Failing to Warn Employee About Conflict

On December 2, 2013, a coalition comprised of The R Street Institute, The American Consumer Institute and the National Taxpayers Union (the “Coalition”) sent a letter to the federal banking regulators at the U.S. Office of the Comptroller of the Currency, FDIC, NCUA, Farm Credit Administration and Federal Reserve Board. …
Read More Industry Groups Lobby Federal Banking Regulators to Revise Proposed Regulations for Private Flood Insurance

In Equitas Limited v Walsham Brothers & Company Limited [2013] EWHC 3264 (Comm), Equitas claimed that the defendant broker, Walsham, received substantial sums (claims on outwards policies and premiums on inwards policies) which it should have remitted to the syndicates (or, after an assignment to Equitas in 1996, to Equitas). …
Read More UK: Commercial Court Considers Brokers’ Duties, Limitation and Recoverability of Funds and Investment Return

In The London Steam-Ship Owners’ Mutual Insurance Association Ltd v (1) The Kingdom of Spain (2) The French State [2013] EWHC 3188, London Steam-Ship (the Claimant) sought an English judgment pursuant to s. 66 Arbitration Act 1996 (the Act) enforcing arbitral awards it had obtained against the Kingdom of Spain and the French State (the Defendants). …
Read More UK: France and Spain Lose State Immunity in M/T “PRESTIGE” Case

The New York State Assembly recently passed a number of bills seeking to amend the state’s insurance laws. Most significantly, Assembly Bill 7455A seeks to amend New York insurance law by prohibiting insurers from using “anti-concurrent causation” clauses in homeowner and commercial insurance policies to preclude coverage for flood claims. …
Read More New York Assembly Passes Bill Prohibiting “Anti-Concurrent Causation” Clauses