Jurisdiction: United States

National Insurance Act/Optional Federal Charter Legislation Reintroduced in Senate

On May 24, 2007, optional federal charter (OFC) legislation was reintroduced into the Senate as the National Insurance Act of 2007 (S. 40) (NIA), co-sponsored by John Sununu (R-NH) and Tim Johnson (D-SD).  A similar bill is expected to be reintroduced into the House by Ed Royce (R-CA) in the coming weeks. 

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Katrina — State Farm Settles Another Wind-Water Dispute Before Trial

Some of the most interesting developments over the past six months in the world of insurance coverage come out of Hurricane Katrina, the largest insured loss in U.S. history.  Several thousand lawsuits, filed in Mississippi and Louisiana, focused on the question of whether property damage arising from the hurricane was caused by wind or objects propelled by wind, both of which are covered under the standard property insurance policy, or by excluded water or flood. 

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Welcome to InsureReinsure.com, an insurance & reinsurance blog created by the Insurance & Reinsurance Department at Edwards Angell Palmer & Dodge LLP.  The insurance & reinsurance industry is an ever-developing one and in this blog, we endeavor to keep you updated about all industry developments.

We will blog about all aspects of the insurance & reinsurance industry, including insurance coverage developments in the areas of Directors & Officers liability, Life & Health, and Property & Casualty (including bad faith, Hurricane Katrina, and other coverage issues), reinsurance developments (including posts about arbitrations , follow the fortunes, insolvency and other reinsurance issues), regulatory developments (including developments on the state level and national level that implicate the industry, as well as developments involving the National Association of Insurance Commissioners, life settlements, viaticals and health insurance) as well as transactional developments (including reporting on significant mergers and acquisitions and consolidation in the industry).  

We hope you find the Blog interesting and informative.  Please provide us with any comments and let us know if you have any questions.


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