United States Archives - Page 292 of 314

Plaintiffs Appeal Dismissal of Federal RICO Claims in Insurance Brokerage Antitrust Case

Oct 15, 2007 | Antitrust | United States

We recently reported on Chief Judge Brown’s decision to dismiss the federal RICO Claims in the Insurance Brokerage Antitrust case pending in district court in New Jersey. As we discussed here, Judge Brown held that the plaintiffs had failed to satisfy Rule 8’s pleading standard.

U.S. Insurers Urge Congress to Modify Provisions of Current Tax Law Related to Foreign Insurers

Oct 15, 2007 | Federal Legislative Developments, Industry Developments, Regulatory, Reinsurance, Tax Related Developments | Bermuda, United States

On September 26, 2007, William R. Berkley, Chairman and C.E.O. of W.R. Berkley Corporation, the ninth largest commercial insurer in the U.S., addressed the Senate Finance Committee concerning an alleged flaw in the current U.S. tax system that provides certain economic advantages to foreign property and casualty insurers domiciled in favorable tax jurisdictions, such as Bermuda.

Connecticut AG Files Complaint against Guy Carpenter and Excess Re – Direct Summary

Oct 15, 2007 | Antitrust, Connecticut Developments, Industry Developments, Reinsurance | United States

On October 9, the Connecticut Attorney General (the “CT AG”) filed a Complaint against Guy Carpenter and Excess Reinsurance Inc. The Complaint is 107 pages long and contains numerous highly-disputed allegations about the structure of the reinsurance markets over the last fifty years as well as hotly contested claims about the activities of the participants in certain reinsurance facilities.

Extrinsic Evidence Cannot Create Duty to Defend Under California Law Where The Evidence Does Not Pertain To The Claims Actually Asserted

Oct 15, 2007 | Coverage & Claims | United States

A California federal court recently attempted to clarify the interrelationship between extrinsic evidence, potential for liability and the duty to defend under California law.

Florida Jury Sides With Merck In The State’s First Vioxx Case To Go To Trial

Oct 12, 2007 | Florida Developments, Product Liability | United States

A Florida jury recently returned a verdict in favor of Merck & Co. in the first Vioxx case to go to trial in the state.

Rhode Island Federal Court Decision Addresses Numerous Duty to Defend Issues

Oct 12, 2007 | Coverage & Claims | United States

In a recent 93-page opinion found here, Judge William Smith of the U.S. District Court for the District of Rhode Island decided a host of issues relating to an insurer’s (and an excess insurer’s) duty to defend.

Adam Hamm Appointed as New North Dakota Insurance Commissioner

Oct 12, 2007 | Industry Developments, Regulatory | United States

On October 9, 2007, North Dakota Governor John Hoeven appointed Adam Hamm, 36, as the new Insurance Commissioner of North Dakota. On October 22, Hamm will succeed Jim Poolman, whose resignation became effective on September 1, 2007 before his term expired to become an insurance industry consultant.

Alaska and Idaho Reportedly Investigate State Street Over Mortgage Investments as States Increase Scrutiny of the Mortgage Crisis

Oct 11, 2007 | Coverage & Claims, D&O Liability, Regulatory, Subprime/Credit Crisis Developments | United States

Last week we reported that Prudential Financial, Inc. and one of its subsidiaries, Prudential Retirement Insurance and Annuity Company, has sued State Street & Trust Corp. and State Street Global Advisors over losses allegedly suffered by Prudential clients in two bond funds managed by State Street (see here).

Washington Federal Court Finds that Facultative Reinsurer is not Obligated to Pay a Loss Outside the Scope of the Underlying Policy

Oct 11, 2007 | Reinsurance | United States

Recently, the United States District Court for the Western District of Washington held that a facultative reinsurer was not bound to follow the fortunes of its cedent for a loss that was outside the scope of the reinsured policy and not paid in good faith.

Wind Loss Liability Verdict Leads To Settlement Of Katrina Suit Before Damages Phase

Oct 11, 2007 | Catastrophe Claims, Coverage & Claims | United States

On September 28, 2007, a jury in an action venued in the United States District Court, Southern District of Mississippi, found that certain damage to the home of Kevin and Sherrye Webster was caused by wind, wind-blown debris and/or wind-driven rain, which were all covered perils under the Websters’ homeowners’ policy.

Jurisdiction: United States

Plaintiffs Appeal Dismissal of Federal RICO Claims in Insurance Brokerage Antitrust Case

Connecticut AG Files Complaint against Guy Carpenter and Excess Re – Direct Summary

Extrinsic Evidence Cannot Create Duty to Defend Under California Law Where The Evidence Does Not Pertain To The Claims Actually Asserted

Florida Jury Sides With Merck In The State’s First Vioxx Case To Go To Trial

Rhode Island Federal Court Decision Addresses Numerous Duty to Defend Issues

Adam Hamm Appointed as New North Dakota Insurance Commissioner

Alaska and Idaho Reportedly Investigate State Street Over Mortgage Investments as States Increase Scrutiny of the Mortgage Crisis

Washington Federal Court Finds that Facultative Reinsurer is not Obligated to Pay a Loss Outside the Scope of the Underlying Policy

Wind Loss Liability Verdict Leads To Settlement Of Katrina Suit Before Damages Phase

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