As we previously reported here, the Florida Office of Insurance Regulation recently held a hearing on the use of credit information in insurance ratemaking by insurers.
United States
Aviation Repair Company Files Lawsuit to Recover for Alleged Total Loss of its Leased Plane Engines Due to Confiscation by the Mexican Government
An aviation repair company recently filed a lawsuit in federal court in Florida seeking recovery from its insurance broker and Lloyds of London for their alleged failure to cover a purported loss of plane engines leased to a Mexican airline that were confiscated by the Mexican government.
Legislation Introduced to Repeal Insurance Industry’s Antitrust Exemption
By Troutman Pepper Locke on
On March 18, 2009, U.S. Congressmen Gene Taylor (D-Miss.) and Peter DeFazio (D-Ore.) introduced the Insurance Industry Competition Act of 2009 (H.R. 1583). H.R. 1583 seeks to amend the McCarran-Ferguson Act, 15 U.S.C. §§ 1011 et seq., by removing the federal antitrust exemption for the insurance industry.
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Multiperil Bill Amending NFIP Reintroduced In House
By Troutman Pepper Locke on
Earlier this month, Rep. Gene Taylor (D-Miss.) reintroduced legislation, the Multiple Peril Insurance Act of 2009 (H.R. 1264), into the House of Representatives that would amend the National Flood Insurance Program (“NFIP”) to allow homeowners to purchase multiperil insurance covering windstorm damage in addition to flood damage.
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NAIC Releases Update to Producer Licensing Assessment
By Troutman Pepper Locke on
Posted in Regulatory, United States
On March 17, 2009, the National Association of Insurance Commissioners (“NAIC”) announced the release of an update (the “2009 Update”) to its 2008 assessment of state producer licensing laws, practices and processes (the “2008 Assessment”).
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New Medicare Reporting Requirement for Non-Group Health Plan Providers Effective July 1, 2009
By Troutman Pepper Locke on
The Medicare, Medicaid, and SCHIP Extension Act of 2007 (S. 2499) (the “Act”), signed into law late last year, contains a new mandatory reporting requirement for insurers covering medical expenses.
Heirs of Terror Victim Seek to Satisfy Outstanding Judgment Against Hamas Using TRIA
By Troutman Pepper Locke on
The heirs of the victim of a 1996 terrorist attack in Israel who, in an earlier federal court proceeding, were recently awarded a judgment against Hamas for over $100 million for damages suffered as a result of the terrorist attack, recently filed a Petition seeking to satisfy the outstanding judgment from funds in a Hamas bank account in the New York branch of an Egyptian bank.
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Court Dismisses Third Party Action in Favor of Arbitration
By Troutman Pepper Locke on
Edwards Angell Palmer & Dodge, LLP recently obtained a decision from the U.S. District Court for the Eastern District of New York granting the motion of its clients, American United Life Insurance Company, Inc. (“AUL”) and R.E. Moulton, Inc. (“REM”), to dismiss a third-party action against them in favor of arbitration.
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Chilean Insurers Predict Improved Results in 2009 Despite Likely Slower Growth
By Troutman Pepper Locke on
Posted in Latin American Developments, United States
Jorge Claude, General Manager of the Association of Chilean Insurers, recently states that the organization expects results to improve in 2009 over 2008, based primarily on the expectation that it is unlikely Chile will see another economic collapse such as that seen in 2008.
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Connecticut Supreme Court: Bodily Injuries Caused By Acts of Self-Defense Are “Accidental,” Not “Expected or Intended,” Within the Meaning of an Intentional Injury Exclusion In a Liability Insurance Policy
By Troutman Pepper Locke on
The Connecticut Supreme Court, deciding an issue of first impression in that state, recently held that coverage for bodily injury to others inflicted during an incident of self-defense by an insured constitutes an “occurrence,” and is not excluded by an intentional injury exclusion in a liability policy.