United States Archives - Page 312 of 313

SEC Prevails in Fraud Case Against Risk Manager

Jun 18, 2007 | Industry Developments | United States

A New York jury recently found a cell phone distributor’s risk manager liable for his alleged role in a scheme to commit securities fraud. According to the SEC’s allegations, the scheme involved the cell phone distributor’s purchase of a multi-year finite risk insurance policy, which enabled the company to spread a loss over several years.

Supreme Court Weighs in on Dirty Sites – CERCLA Permits Private Right of Action

Jun 15, 2007 | Coverage & Claims, Toxic Tort | United States

On June 11, the United States Supreme Court has paved the way for additional litigation under the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”).

First Circuit Finds Flexibility in “Sudden and Accidental” Pollution Exception

Jun 15, 2007 | Coverage & Claims, Massachusetts Developments, Toxic Tort | United States

On May 30, the U.S Court of Appeals for the First Circuit held that an insured’s broad allegations of pollution over a course of decades are enough to trigger a liability insurer’s duty to defend environmental contamination lawsuits.

Eliot Spitzer Establishes Commission to Modernize Insurance Regulation in New York

Jun 15, 2007 | New York Developments, Regulatory | United States

On May 29th, Eliot Spitzer, Governor of New York, signed an executive order creating the New York Commission to Modernize the Regulation of Financial Services. The Commission’s objective is to streamline state regulation of an industry that has become increasingly complex over the past decade.

Introducing Pennsylvania’s New Insurance Commissioner

Jun 14, 2007 | Industry Developments, Regulatory | United States

Joel Ario, former insurance administrator of the Insurance Division in the Oregon Department of Consumer and Business Services (“DCBS”), has confirmed that he has accepted the nomination by Pennsylvania Governor Edward Rendell to serve as Insurance Commissioner for Pennsylvania.

Florida Court Recognizes New Statutory Medical Malpractice Bad Faith Cause of Action

Jun 13, 2007 | Extra-Contractual Liability, Florida Developments | United States

A Florida appellate court recently recognized a new statutory cause of action for bad faith in the handling of medical malpractice claims.

Hurricane Katrina Whistleblower Lawsuit

Jun 12, 2007 | Catastrophe Claims, Coverage & Claims | United States

A Katrina-related whistleblower lawsuit originally filed under seal on August 2, 2006, was recently unsealed and made public.

NAIC Adopts Military Sales Practices Model Regulation

Jun 8, 2007 | Regulatory | United States

On June 4, 2007, the National Association of Insurance Commissioners (NAIC) adopted the Military Sales Practices Model Regulation. The purpose of the Model Regulation is to provide uniform standards through which active duty service members of the United States Armed Forces are protected from dishonest and predatory insurance sales practices.

Group Health Incorporated Spots Insurance Fraud in Alleged Brain Surgery Scam

Jun 8, 2007 | Healthcare | United States

Given the escalating costs of covering legitimate health care services, the last thing the health insurance industry needs is to be paying for services that were never rendered. Fortunately, state and federal laws provide harsh penalties for this sort of fraud.

NAIC Begins Drafting of Excess/Surplus Lines Interstate Compact

Jun 7, 2007 | Excess and Surplus Lines, Federal Legislative Developments, Regulatory | United States

In an effort to stay one-step ahead of related federal legislation, an interested parties group within the NAIC has begun drafting an interstate compact that will allow for the uniform regulation of excess/surplus line transactions.

Jurisdiction: United States

SEC Prevails in Fraud Case Against Risk Manager

Supreme Court Weighs in on Dirty Sites – CERCLA Permits Private Right of Action

First Circuit Finds Flexibility in “Sudden and Accidental” Pollution Exception

Eliot Spitzer Establishes Commission to Modernize Insurance Regulation in New York

Introducing Pennsylvania’s New Insurance Commissioner

Florida Court Recognizes New Statutory Medical Malpractice Bad Faith Cause of Action

Hurricane Katrina Whistleblower Lawsuit

NAIC Adopts Military Sales Practices Model Regulation

Group Health Incorporated Spots Insurance Fraud in Alleged Brain Surgery Scam

NAIC Begins Drafting of Excess/Surplus Lines Interstate Compact

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