On October 5, 2009, the U.S. Supreme Court denied writs of certiorari in three cases that examined whether manifest disregard of the law remains a valid basis for challenging arbitration awards in light of the Court’s decision last year in Hall Street Associates, L.L.C. v. Mattel, Inc., 128 S.Ct. 1396 (2008).
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The New York Insurance Department Updates Proposed Insurance Producer Compensation Transparency Rule; Explains Departure from Dinallo Era
By Troutman Pepper Locke on
This updates our September 15, 2009 blog posting. Matthew Gaul, special counsel for the Department, recently explained that the draft proposal for the disclosure of insurance producer compensation released by the Department last month differs from that proposed by former Superintendent Eric Dinallo in that the revised proposal does not differentiate between captive agents, independent agents and independent brokers. …
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Minnesota Governor Proposes Changes to State Law to Allow for the Purchase of Health Insurance Policies Across State Lines and the Creation of an Interstate Health Insurance Compact
By Troutman Pepper Locke on
Governor Time Pawlenty (R-MN) recently outlined a set of proposed healthcare reforms to be considered during Minnesota’s 2010 legislative session.
SEC and NAIC Take Affirmative Steps To Address Corporate Disclosures Regarding Climate Change
By Troutman Pepper Locke on
On October 2, 2009, as part of the 48th Annual Corporate Counsel Institute held at Northwestern University School of Law, SEC Commissioner Elisse B. Walter gave a speech entitled “SEC Rulemaking — ‘Advancing The Law’ To Protect Investors.” In her speech, Commissioner Walter touched upon the SEC’s recent work with respect to climate change disclosures, and her belief that climate change is a very serious issue. …
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Louisiana Insureds Petition the U.S. Supreme Court to Review a Fifth Circuit Decision Vacating that Portion of Katrina-Related Judgment that Awarded Penalties, Damages and Attorneys’ Fees Based on an Insurer’s Alleged Bad Faith
On July 21, 2009, Judy and Michael Kodrin filed a petition for a writ of certiorari in the U.S. Supreme Court, asking the Supreme Court to review a Fifth Circuit decision vacating that portion of a Katrina-related judgment that awarded them penalties, damages and attorneys’ fees based on their homeowners insurer’s alleged bad faith. …
Read More Louisiana Insureds Petition the U.S. Supreme Court to Review a Fifth Circuit Decision Vacating that Portion of Katrina-Related Judgment that Awarded Penalties, Damages and Attorneys’ Fees Based on an Insurer’s Alleged Bad Faith
New York Court of Appeals Determines that the Prior Knowledge Exclusion Applies Under Pennsylvania Law Where Insured has Knowledge of a Client’s Wrongful Conduct that is Likely to Result in a Claim Against the Insured
By Troutman Pepper Locke on
The New York Court of Appeals recently overturned an Appellate Division decision denying excess insurers summary judgment based on prior knowledge exclusions contained in professional liability policies issued to the insured law firm. …
Read More New York Court of Appeals Determines that the Prior Knowledge Exclusion Applies Under Pennsylvania Law Where Insured has Knowledge of a Client’s Wrongful Conduct that is Likely to Result in a Claim Against the Insured
Live Blog – Chinese Drywall Insurance Conference – October 22, 2009 – Miami Beach, Florida
By Troutman Pepper Locke on
EAPD participated in the October 22, 2009 sessions of the Chinese Drywall Insurance Conference taking place in Miami Beach, Florida. The day included a lively discussion between attorneys on all sides of this emerging issue, including attorneys representing homeowners, builders, suppliers, and insurers. Summaries of those discussions are set out below.
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American Bar Association Conference – Aviation Law
By Troutman Pepper Locke on
Brian Green of Edwards Angell Palmer & Dodge is in Washington, D.C., participating in “Behind the Curtain: Insight Into the Aviation Practice from Go-Team to Trial,” presented by the American Bar Association’s Tort Trial & Insurance Practice Section and Aviation & Space Law Committee.
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House Financial Services Committee Exempts Insurance from Oversight by Proposed Consumer Finance Protection Agency
By Troutman Pepper Locke on
This updates our June 23, 2009 posting. As we previously reported, the Obama Administration proposed a broad overhaul of the federal financial regulatory system earlier this year. As part of the overhaul, the Administration, together with Rep. Barney Frank (D-Mass), proposed H.R. 3126 which would create a Consumer Finance Protection Agency (“CFPA”) to act as an independent executive agency with broad authority to regulate the provision of consumer financial products or services, including certain insurance products.
Sixth Circuit Finds Court Order Requiring Insurer to Produce Privileged Documents Not Clearly Erroneous
By Troutman Pepper Locke on
The Sixth Circuit recently denied an insurer’s petition for a writ of mandamus to vacate a discovery order compelling the production of information which the insurer argued was protected from discovery by the work-product and/or attorney-client privileges.