United States Archives - Page 288 of 314

Bank of America Corp. Completes Sale of Its Commercial Insurance Brokerage

Nov 5, 2007 | Industry Developments | United States

A team of Edwards Angell Palmer & Dodge LLP lawyers representing Bank of America Corporation recently completed the sale of its commercial insurance brokerage, Banc of America Corporate Insurance Agency, LLC (“BACIA”), to Hilb Rogal & Hobbs Company (“HRH”).

New York State Court Dismisses Coverage Claim On Basis Of “Owned Property” Exclusion

Nov 2, 2007 | Coverage & Claims | United States

Edwards Angell Palmer & Dodge attorneys recently obtained dismissal of a $20,000,000 New York state court declaratory judgment action against American International Specialty Lines Insurance Company (AISLIC), an AIG-affiliated entity.

D&O Insurer not Liable for Bad Faith Damages

Nov 2, 2007 | D&O Liability | United States

In a recent decision from a federal court in Georgia, Executive Risk Indem., Inc. v. AFC Enterprises, Inc., an insurer sought a declaratory judgment that it properly rescinded a D & O policy based on the insured’s material misrepresentations in the application of insurance.

Other States Contemplate Following N.Y.’s Lead to Change Foreign Reinsurer Collateral Requirements

Nov 2, 2007 | Florida Developments, New York Developments, Regulatory, Reinsurance | United States

In the wake of New York Superintendent Eric Dinallo’s announcement that New York was changing the rules surrounding collateral requirements for foreign reinsurers, it was reported last week that several other U.S. states are contemplating similar changes.

The International Insurance Center of Puerto Rico

Nov 2, 2007 | Excess and Surplus Lines, Industry Developments, Latin American Developments, Regulatory | United States

Several members of Edwards Angell Palmer & Dodge’s Insurance and Reinsurance Department recently attended an interesting meeting with representatives of the Office of the Commissioner of Insurance of the Commonwealth of Puerto Rico.

If at First You Don’t Succeed…: The IRS’ Proposed Regulations Governing the Treatment of Captive Insurance Companies

Oct 31, 2007 | Regulatory, Tax Related Developments | United States

For years, the IRS has attacked the tax treatment of insurance of captive insurance and their affiliates to preclude captive insurance companies from deducting payments to captive insurance companies as premiums and instead treat them as capital contributions.

Louisiana AG Sues More Than One Hundred Insurance Companies Over Katrina-Related Damages

Oct 31, 2007 | Catastrophe Claims, Coverage & Claims, Extra-Contractual Liability, Regulatory | United States

On August 23, 2007, Louisiana Attorney General, Charles C. Foti, Jr. filed a lawsuit accusing over one hundred insurance companies of improperly denying Katrina related damages. The action was brought on behalf of homeowners who are eligible to receive funds through the Road Home Program (“Program”).

Merger Plans Announced Between Edwards Angell Palmer & Dodge LLP and Kendall Freeman of London

Oct 30, 2007 | Florida Developments, Industry Developments, Massachusetts Developments, New Jersey Developments, New York Developments | United States

US law firm Edwards Angell Palmer & Dodge LLP (“EAPD”) and Kendall Freeman of London today announced a plan to merge effective January 1, 2008.

30,000 Red Sox Fans Go To Bed Particularly Happy, At Prize Indemnification Insurer’s Expense

Oct 29, 2007 | Industry Developments, Massachusetts Developments | United States

Following the Red Sox sweep of the Colorado Rockies, some 30,000 fans of the Boston Red Sox can now follow the lead of Alex Rodriguez and opt out of paying for their furniture purchased in the spring.

Oregon Attorney General Settles State Antitrust Claims with Insurer

Oct 29, 2007 | Antitrust, Industry Developments, Regulatory | United States

On October 26, 2007, Oregon AG Hardy Myers announced a settlement with ACE Group Holdings, Inc. and its subsidiaries (“ACE”) over allegations of improper, fictitious quoting and steering of insurance businesses. The AG filed a stipulated judgment in Marion County State Circuit Court, in which ACE agreed to pay $4.5 million to a group of eight Attorneys General in settlement of their antitrust claims with no admission that ACE violated any laws.

Jurisdiction: United States

Bank of America Corp. Completes Sale of Its Commercial Insurance Brokerage

New York State Court Dismisses Coverage Claim On Basis Of “Owned Property” Exclusion

D&O Insurer not Liable for Bad Faith Damages

Other States Contemplate Following N.Y.’s Lead to Change Foreign Reinsurer Collateral Requirements

The International Insurance Center of Puerto Rico

Louisiana AG Sues More Than One Hundred Insurance Companies Over Katrina-Related Damages

Merger Plans Announced Between Edwards Angell Palmer & Dodge LLP and Kendall Freeman of London

30,000 Red Sox Fans Go To Bed Particularly Happy, At Prize Indemnification Insurer’s Expense

Oregon Attorney General Settles State Antitrust Claims with Insurer

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