Jurisdictions

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The National Association of Insurance Commissioners (“NAIC”) held its Fall National Meeting (the “Meeting”) from November 29th through December 2, 2012. Among the topics discussed was the need to address the perceived “XXX and “AXXX” reserve redundancies applicable to life insurers. …
Read More NAIC Fall National Meeting Foreshadows More Flexibility for Life Insurers

In (1) Michael Nulty Deceased (2) Wing Bat Security Limited (3) National Insurance and Guarantee Corporation Limited (NIG) v Milton Keynes Borough Council (the Council) [2013] EWCA Civ 15, professional indemnity insurer NIG unsuccessfully appealed against a decision which saw the actions of its insured, an electrical engineer, described as the most probable cause of a fire in Milton Keynes in 2005. The standard of proof in civil cases in England and Wales is the balance of probabilities. …
Read More UK: Court of Appeal Considers Balance of Probabilities

On January 29, 2013, the International Group of P&I Clubs (IGP&IC) released Frequently Asked Questions relating to Council Regulation (EU) No. 1263/2012. For the IGP&IC FAQs click here and for the E.U. council regulation click here.   …
Read More Insurance of Ships Using Bunker Oil Produced From Iranian Crude May Not Violate Sanctions

As we reported here, the U.S. Department of Health and Human Services (“HHS”) recently issued final regulations (the “Final Rule”) implementing changes to HIPAA mandated by the HITECH Act. The long awaited Final Rule addresses a number of privacy and security topics, including breach notification. …
Read More HHS Broadens Notification Obligations in Final Data Breach Notification Rule

Joining Guernsey and the Cayman Islands, Jeremy Cox, CEO of the Bermuda Monetary Authority, announced that Bermuda will not apply Solvency II to captives. Mr. Cox’s remarks came during his presentation of the BMA’s 2013 Business Plan on January 29, 2013. Click here for the BMA’s press release. …
Read More BMA Announces Solvency II Will Not Apply to Captives

In a recent decision, an Illinois appellate court determined that the collapse of a porch, resulting in injury or death to more than forty individuals, constituted a single “occurrence” for the purposes of determining coverage under a commercial general liability insurance policy. With this decision, the court recognized an important limitation on the applicability of a test previously adopted by the state’s Supreme Court for determining the number of occurrences implicated by a claim. …
Read More Illinois Appeals Court Declines To Extend “Time and Space Test” For Determining Number Of Occurrences To Cases Involving Single Negligent Act

GRASSLEY URGES ACTION ON SUNSHINE ACT
In a January 22 letter to the White House, Sen. Chuck Grassley (R-IA) bemoaned the administration’s continued delay in implementing the Physician Payments Sunshine Act, part of the Patient Protection and Affordable Care Act (PPACA). The Sunshine Act requires that physicians report to the Department of Health and Human Services (HHS) their ownership and investment interests in, and payments or gifts that they receive from, manufacturers of drugs, devices and supplies.
Read More Healthcare Update: Grassley Urges Action on Sunshine Act; HHS Awards New Exchange Grants