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Republic Western Insurance Company (“Republic”) reinsured certain workers’ compensation policies issued by Reliance Insurance Company.  In October 2001, Reliance was placed into liquidation under the supervision of the Liquidator.  After Republic failed to pay certain claims arising under its reinsurance treaties with Reliance, the Liquidator demanded arbitration. 

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Read More Reinsurer’s Motion to Seal Documents Related to Arbitration Granted by Pennsylvania Court

This updates our July 31, 2009 posting.  On August 19, 2009, Michigan’s House Insurance Committee advanced the package of “bad faith” bills (House bills 4244, 4844, 4858, 5020, 5144-5151) by voting to toughen penalties for insurance companies that deny or delay valid claims. 

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Read More Michigan’s House Insurance Committee Advances “Bad Faith” Legislation

Florida Senator Bill Nelson recently sent a letter to President Obama asking the administration to streamline federal assistance available to homeowners with allegedly tainted Chinese drywall.  Nelson requested “White House mobilization and coordination of all federal resources that could help homeowners” and stressed the need for an inter-agency Drywall Task Force to coordinate efforts and a “one-stop federal Drywall Assistance Center” that could provide information and resources directly to impacted homeowners. 

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Read More Chinese Drywall – Senators Seek Expansion of Federal Assistance for Impacted Homeowners

The first half of the month-long congressional recess has significantly dimmed hopes for a bipartisan agreement on healthcare reform in the Senate, due to contentious, rancorous town hall meetings and new polls suggesting eroding public support for the Democrats’ healthcare reform proposals. 

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Read More Bipartisan Agreement on Healthcare Reform Remains Elusive; Democrats Considering Splitting Bill into Two Pieces

The New York Insurance Department issued proposed Regulation No. 192 (11 NYCRR) (the “Proposed Regulation”) establishing minimum reserve and nonforfeiture standards for preneed life insurance policies (i.e. policies that provide a prearrangement agreement for goods and services to be provided upon the death of the insured). …
Read More New York Issues Proposed Regulation to establish Minimum Standards for Determining Reserve Liabilities and Nonforfeiture Values for Preneed Life Insurance

EAPD has recently published the second electronic version of its ‘Commercial Litigation Review’ (August 2009), which focuses on the hot topics currently facing businesses in the UK and throughout the world. 

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Read More Publication: Edwards Angell Palmer & Dodge’s Commercial Litigation Review (August 2009 edition)

On August 17, 2009, the Massachusetts Office of Consumer Affairs and Business Regulation (the “OCABR”) issued a press release announcing important amendments to 201 CMR 17.00: Standards for the Protection of Personal Information of Residents of the Commonwealth (the “Regulations”), and a third extension of its effective date from January 1, 2010 to March 1, 2010. The OCABR also called a public hearing scheduled for September 22, 2009 in connection with the Regulations.

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Read More BREAKING NEWS: Client Advisory – Amended Massachusetts Security Regulations and Extension of Effective Date

On August 5, 2009, the Director of the Division of Enforcement of the Securities and Exchange Commission, Robert Khuzami, outlined multiple new steps the SEC is taking to increase enforcement of securities laws and regulations in the wake of high-profile cases and losses for investors, such as the Bernard Madoff ponzi scheme. 

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Read More SEC Division of Enforcement Director Announces Aggressive New Initiatives – An EAPD Client Advisory

In an unpublished two page decision filed August 11, 2009, the United States Court of Appeals for the Fifth Circuit upheld a $21.6 million jury verdict in favor of a New Orleans grocer with approximately $1 million in bad faith damages. …
Read More Fifth Circuit Upholds Jury Verdict Against Insurer in Hurricane Katrina Case