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On June 2, 2008, the National Association of Insurance Commissioners (the “NAIC”) issued a release announcing adoption of a model bulletin (the “Bulletin”) and Consumer Alert (the “Alert”) to help protect seniors from certain abusive sales practices. 

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Read More NAIC Adopts a Model Bulletin and Consumer Alert Regarding the use of Senior Designations

On June 10, 2008, the House Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises (the “Subcommittee”) will hold a hearing on H.R. 5840, the Insurance Information Act of 2008, regarding the creation of a federal Office of Insurance Information (the “OII”). …
Read More House Subcommittee to Consider Legislation for Formation of Federal Office of Insurance Information

A federal class action lawsuit was filed recently against a number of mortgage companies and other lending institutions in the Eastern District of Louisiana.  The Law Offices of Joseph M. Bruno, et al. v. ABN Amro Mortgage Group, Inc., et al., Case No. 08-2762 (E.D.La. May 1, 2008).   (

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Read More Mortgage Lenders Sued in Federal Class Action Lawsuit Questioning Order of Katrina Loss Payments

The SEC has filed a civil action against four Broadcom executives and its General Counsel in connection with alleged options backdating activity at the company between 1998 and 2003. Click here to read the SEC’s complaint, filed in  the U.S. District Court for the Central District of California. 

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Read More SEC Launches Options Backdating Suit Against Broadcom Executives

The Eighth Circuit Court of Appeals has upheld a lower court decision to apply a multi-factored choice-of-law analysis in an insurance coverage dispute involving multiple-risk policies.  Click here to read the appellate court’s entire opinion in the case of St. Paul Fire and Marine Ins. Co. v. Bldg. Constr. Enter.,

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Read More Eighth Circuit Rejects Principal Location Choice-of-Law Test and Applies Multi-Factored Test for Multiple-Risk Policies

NERA recently issued a report entitled “Do Options Backdating Class Actions Settle for Less?” In its report, NERA concluded that “backdating class actions may be falling short of expectations  . . .  in that the amounts paid to plaintiffs have been substantially lower than in comparable non-backdating cases.” 

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Read More NERA Issues Report on Options Backdating Class Action Settlements

Florida Insurance Commissioner Kevin McCarty announced last week that the Office of Insurance Regulation (OIR) has approved plans for six insurance companies to remove 100,000 policies from Citizens Property Insurance Corporation, Florida’s state created insurer of last resort.  Some of the companies have already begun the take out process, which is scheduled for completion in June. …
Read More Florida’s Insurance Commissioner Approves Transfer of 100,000 Citizens Policies to Private Market

Florida’s Attorney General Bill McCollum, Chief Financial Officer Alex Sink and Insurance Commissioner Kevin McCarty announced on May 23, 2008 that the state reached a settlement with insurance brokerage firm Aon Corp.  According to the Florida agencies, Aon had received, and failed to disclose,  compensation for placing insurance coverage for Florida policyholders. 

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Read More Three Florida Agencies Announce Insurance Settlement with Aon Corp

If recent research is correct, we could all be at risk of developing mesothelioma in the future, and this time asbestos will not be to blame.  A new study conducted by a join team of UK and US scientists raises concern that certain carbon nanotubes may have carcinogenic potential.  A paper published in Nature Nanotechnology on May 20, 2008, describes asbestos-like consequences of inhaling long, multi-walled carbon nanotubes (MWCNTs). …
Read More Recent Study Sparks Concern about Asbestos-like Health Risk from Nanotubes Found in Everyday Products