The Federal District Court for the Northern District of California recently ruled that the FDA’s premarket approval (“PMA”) process for Class III devices does not preempt state law causes of action.
United States
Reinsurance Reports: Stabilized Market; Softening of Prices
By Troutman Pepper Locke on
The reports, studies and opinions about the reinsurance market for 2008 have continued to emanate from Monte Carlo over the past two weeks. Aon and Guy Carpenter released reports timed to the Monte Carlo Reinsurance Rendezvous, which indicate that the reinsurance market stabilized in 2007, with capacity increasing to meet the increased demands in 2006 arising after the large catastrophes of 2005 and prior years.
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Seventh Circuit Enforces 30-Day Deadline to Select Party-Appointed Arbitrator
By Troutman Pepper Locke on
The United States Court of Appeals for the Seventh Circuit recently affirmed a district court’s decision finding that a cedent’s appointment of an arbitrator in a reinsurance arbitration was invalid because it did not fall within the time limitations set forth by the reinsurance contract at issue.
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Court Rules That Four Separate Panels Must Resolve Arbitration Consolidation Issues
By Troutman Pepper Locke on
Recently, in Argonaut Ins. Co. v. Century Indemnity Co., No. 05-5355 (E.D. Pa. September 5, 2007), the United States District Court for the Eastern District of Pennsylvania was asked to determine which of four arbitration panels should decide the question of whether individual arbitration proceedings should be consolidated.
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Bad Faith Plaintiff Entitled To Discovery Of Insurer’s Records Concerning Reserves, Financial Performance of Policy Line, and Claims Personnel Compensation
Judge Ashley Royal of the United States District Court for the Middle District of Georgia recently held in a case by an insured against its disability insurer alleging bad faith refusal by the insurer to pay disability benefits, that the plaintiff was entitled to discovery of a wide range of documents potentially bearing on the insurer’s “intent” and the circumstances “surrounding” the insurer’s refusal to pay.
Breaking News: House Approves TRIA Extension
Despite news reports that the White House plans to veto the Terrorism Risk Insurance Revision and Extension Act of 2007 (“TRIREA”) in its current form, the U.S. House of Representatives overwhelmingly voted 312-110 today in favor of TRIREA, which would extend TRIA 15 more years and add group life insurance and domestic terrorism coverage.
New York Insurance Superintendent Recommends Alternative Workers’ Compensation Rating System
By Troutman Pepper Locke on
New York’s Insurance Superintendent, Eric Dinallo, recently issued a report analyzing the workers’ compensation rating system currently in place in New York State. The Report, which was required by the 2007 Workers’ Compensation Reform Act, proposes wholesale changes to the workers’ compensation rating system currently in place.
New York Appellate Court Addresses Duty To Warn In Medical Device Context
By Troutman Pepper Locke on
Posted in Product Liability, United States
A New York state appellate court recently reversed a denial of summary judgment on a medical device failure to warn claim. Mulhall v. Hannafin, 2007 N.Y. Slip Op. 06529 (N.Y. App. Div. Aug. 30, 2007). In doing so, the court addressed a number of interesting issues concerning the required elements of a failure to warn claim under New York law.
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White House Opposes TRIA Extension
As we have recently reported on InsureReinsure.com, the Federal Terrorism Risk Insurance Program is due to expire at year-end. Congress is currently considering an extension of the Program, the Terrorism Risk Insurance Revision and Extension Act of 2007 (“TRIREA”), which we have discussed here, here, here, and here.
CBO Estimates Cost of TRIA Extension to be $8.4 Billion Over the Next Decade
The Congressional Budget Office (“CBO”) released a report last week that estimated the cost of extending the Federal Terrorism Risk Insurance Program to be $3.5 billion for the next five years and $8.4 billion for the next decade.
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