In Turville Heath Inc v Chartis Insurance UK Limited [2012] EWHC 3019 (TCC), Mr Justice Edwards-Stuart in the High Court refused the defendant’s application for a stay of proceedings under s. 9 of the Arbitration Act 1996 (Arbitration Act) but granted a stay using the court’s inherent jurisdiction under s. 49 of the Senior Courts Act 1981 (SCA). …
Read More UK: Court Proceedings Stayed in Turville v Chartis

In (1) Christine Brown-Quinn (2) Webster Dixon LLP & Ors v (1) Equity Syndicate Management Ltd (2) Motorplus Ltd [2012] EWCA Civ 1633, the Court of Appeal held that conditions in a legal expenses insurance contract were in breach of the Insurance Companies (Legal Expenses Insurance) Regulations 1990 reg.6 (the Regulations). …
Read More UK: Court of Appeal Finds Conditions in a Legal Expenses Insurance Contract to be in Breach of Regulations

The Competition Commission (CC) has released an issues statement and timetable for its market investigation into the supply and acquisition of private motor insurance (PMI) in the United Kingdom. The CC investigation will seek to establish whether any features of the PMI market have the effect of preventing, restricting or distorting competition within that market. …
Read More UK: Competition Commission Publishes Timetable for Private Motor Insurance Investigation

The Cayman Islands legislature has amended the Insurance Law, 2010 to, among other things, permit licensing of two new classes of reinsurers. The new class C insurer license permits reinsurance through the issuance of catastrophe bonds and other similar instruments, such as insurance linked securities. …
Read More Cayman Islands Creates Two New Classes of Reinsurers

“SAVE AND STRENGTHEN MEDICARE ACT” INTRODUCED
On December 11, the outgoing chairman of the House Ways and Means Health Subcommittee introduced a bill (the “Save and Strengthen Medicare Act,” H.R. 6645) that proposes major changes to the Medicare program. Rep. Wally Herger (R-CA), who is retiring from Congress at the end of this year, said that the bill “embrace[s] the best ideas that have been put on the table to date, from any political or ideological quarter.” …
Read More Healthcare Update: “Save and Strengthen Medicare Act” Introduced; CMS Issues Nine Conditional Approvals for Exchanges; HHS Rejects “Partial” Medicaid Expansions

At the recently concluded NAIC Fall National Meeting, the Reinsurance Task Force of the Financial Condition (E) Committee, released for public comment the highly anticipated draft of the NAIC Process for Developing and Maintaining the List of Qualified Jurisdictions (“Process”). The stated purpose of the Process is to establish a method for evaluating the reinsurance supervisory systems of non-U.S. jurisdictions. …
Read More NAIC Proposes Reinsurance Credit “Qualified Jurisdictions” Standard and Process

The United States District Court for the Middle District of Florida recently issued an Order denying coverage to an insured for an underlying class action suit alleging violations of the Telephone Consumer Protection Act of 1991, as amended by the Junk Fax Prevention Act of 2005.   See Interline Brands, Inc. v. Chartis Specialty Insurance Company, No. 3:11-cv-731-J-25JRK (M.D. Fla. November 21, 2012). …
Read More Florida District Court Grants Dismissal of TCPA Coverage Lawsuit on Basis of Statutory Exclusion

The Senior Issues Task Force (“Task Force”) of the National Association of Insurance Commissioners (“NAIC”) held a public hearing on long-term care insurance (“LTCI”) at the NAIC Fall National Meeting in Washington, DC.  During the hearing, a panel of experts discussed issues impacting the LTCI industry, including the impact of the economy on LTCI sales, increases in rates by private insurers, and the exit by a number of carriers from the market. …
Read More NAIC Senior Issues Task Force Held Public Hearing on Long-term Care Insurance

In Howden North America Inc v ACE European Group Ltd [2012] EWCA Civ 1624 the Court of Appeal allowed an appeal by Howden North America Inc (Howden) and set aside the order of Mr Justice Field, which had granted ACE European Group Ltd (ACE) permission to serve out of the jurisdiction (we have previously reported the first instance decision here. …
Read More UK: Court of Appeal Overturns Order Granting Permission to Serve Out of the Jurisdiction

On December 3, 2012, the Securities and Exchange Commission commenced administrative proceedings against the China affiliates of the Big Four accounting firms and another large accounting firm. …
Read More Securities and Exchange Commission Seeks Audit Workpapers for Companies Whose Securities Are Publicly Traded in the U.S. and Whose Principal Operations are Based in China