Eithne McCarthy, from the Financial Services Unit of the European Commission’s Competition Directorate General (DG Comp), made a presentation on the new Insurance Block Exemption Regulation (BER) to the Law Society’s Competition Section on 13 April 2010.
Read More EU/UK: Presentation by Eithne McCarthy – the new Insurance Block Exemption Regulation
United Kingdom
UK: High Court rules on existence of insurance policy
By Troutman Pepper Locke on
In Ian Hall v (1) Newall Heating Limited; (2) AGF Insurance Limited (March 2010) unreported, the court held that Mr Hall, who is suffering from mesothelioma caused by exposure to asbestos, could not identify AGF Insurance (AGF) as being liable, pursuant to the provisions of the Third Party (Rights against Insurers) Act 1930, to satisfy a default judgment obtained against Newall Heating (Newall).
…
Read More UK: High Court rules on existence of insurance policy
Eyjafjallajökull Volcano’s Flight Disruption Leads to Uncovered Losses and New Types of Coverage for Airlines
As the Eyjafjallajökull volcano continues to erupt and the dust cloud over much of Europe continues to hang in the air, approximately 16,000 flights each day are being canceled without any certainty as to when normal flight schedules can resume.
UK: Proposals for compensating EL claimants
By Troutman Pepper Locke on
On 1 April 2010 the ABI held a seminar for liability carriers on developments in relation to EL, covering two main topics, the ELTO (Employers’ Liability Tracing Office) and a possible scheme for compensating those with EL claims. …
Read More UK: Proposals for compensating EL claimants
UK: Financial Services Act 2010
By Troutman Pepper Locke on
The Financial Services Act 2010 (the Act) received Royal Assent on 8 April 2010. The Act amends the Financial Services and Markets Act 2000 to address a number of issues that are perceived to have contributed to the financial services crisis …
Read More UK: Financial Services Act 2010
UK: Government increases payments for mesothelioma victims under statute
By Troutman Pepper Locke on
Following the Government’s announcement last month (as previously reported here), The Mesothelioma Lump Sum Payments (Conditions & Amounts) (Amendment) Regulation 2010 has come into force.
…
Read More UK: Government increases payments for mesothelioma victims under statute
UK: High Court Rules no Liability for Lack of Timely Notice
By Troutman Pepper Locke on
Posted in Coverage & Claims, United Kingdom
The English High Court, in Loyaltrend Limited and Sye Razvi v Brit UW Limited & Others [2010] EWHC 425 (Comm), ruled in favour of the Second Defendant (Brit) because the Claimants failed to notify the insurer in a timely manner as specified in the policy. …
Read More UK: High Court Rules no Liability for Lack of Timely Notice
UK: Speech by Sally Dewar – Taking the FSA’s Corporate Governance Agenda Forward
By Troutman Pepper Locke on
Posted in Regulatory, United Kingdom
Sally Dewar, the Financial Services Authority’s (FSA) managing director of Risk, gave a speech entitled “Taking the FSA’s corporate governance agenda forward” at the City Corporate Governance and Remuneration Summit on 30 March 2010.
…
Read More UK: Speech by Sally Dewar – Taking the FSA’s Corporate Governance Agenda Forward
UK: Government Consultation on Strengthening the Administration Regime for Insurers
By Troutman Pepper Locke on
The UK Government has announced a consultation on proposals to strengthen the administration regime for insurers, in particular to improve the protection and payment of benefits for persons insured with companies facing financial difficulties and addressing gaps in the administration regime for insurers as compared with the liquidation regime.
…
Read More UK: Government Consultation on Strengthening the Administration Regime for Insurers
Third Parties (Rights against Insurers) Bill Receives Royal Assent
By Troutman Pepper Locke on
Posted in Regulatory, United Kingdom
As previously reported here, the Third Parties (Rights against Insurers) Bill was introduced into Parliament in November 2009. It is designed, in particular, to remedy the shortcomings of current legislation in protecting the rights of third party claimants against insurers of the liabilities of insolvent defendants. …
Read More Third Parties (Rights against Insurers) Bill Receives Royal Assent