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In Mizuho Corporate Bank Ltd. v. Reliance Insurance Co. In Liquidation, No. 1 REL 2005 (Pa. Cmwlth. Aug. 8, 2011), a Pennsylvania court determined that claims for losses stemming from a failed motion picture arose under an insurance policy, rather than under financial guaranties.
Read More Court Finds Claims Arising from Insurance Policy, not from Financial Guaranties

HHS AWARDS GRANTS TO COMMUNITY HEALTH CENTERS

The Department of Health and Human Services (HHS) recently announced more than $28 million in grant funding geared toward the development and expansion of community health centers. …
Read More Healthcare Update: Community Health Center Grants Announced; PPACA Individual Mandate Ruled Unconstitutional; Skilled Nursing Facilities Will See Rate Cuts

While making an arrested of the insured, a Marlborough police officer broke his ankle and was otherwise injured. …
Read More Massachusetts SJC Holds Homeowners Liability Insurer Can’t Use Guilty Plea in Related Criminal Action to Deny Coverage Under Intentional and Criminal Acts Exclusion

On August 17, 2011, Connecticut Insurance Commissioner Thomas B. Leonardi released a statement titled “Solvency II: ‘One Size Does Not Fit All’,” in which he warns that adopting Solvency II (as previously reported here) standards in the U.S. could “weaken consumer protections and stability of insurers.”  The comments came during an online forum hosted by Price Waterhouse Coopers regarding, among other topics, solvency regulation. …
Read More Connecticut Insurance Commissioner Issues Solvency II Warning

According to British risk assessors Maplecroft, the U.S. and Japan have the highest economic exposure to natural disasters, while Asia’s emerging countries– namely, China, India and Indonesia – pose the most risk to investors due to a lack of capacity to combat the impacts of a major disaster. …
Read More United States and Japan have Highest Economic Exposure to Natural Disasters

A Pennsylvania federal court recently held that, in order to prevail on a late notice defense, a reinsurer was required to show that it was prejudiced by a cedent’s breach of a facultative certificate’s notice provision, despite the fact that compliance with that provision was a condition precedent to coverage.   See Pacific Employers Ins. Co. v. Global Reinsurance Corp., No. 09-6055 (E. D. Pa. 2011). …
Read More Pennsylvania Federal Court Finds that Reinsurer Must Prove Prejudice to Succeed on its Late Notice Defense

Please join the U.S. Reinsurance Under 40s Group tonight for a summary happy hour!  The event will take place from 5:30-8:00 pm at The Frying Pan in New York City, which is located at Pier 66, Maritime, at the intersection of 26th Street and the Westside Highway.  We have a private space, and expect an excellent turn out at this great venue.  So please come join us for this fabulous networking and socializing event.  You can still RSVP at the Group’s website — reunder40s.org.  We look forward to seeing you there!!! …
Read More Re Under 40s Happy Hour Tonight!!