On September 14, 2012, California Assembly Bill 2084, relating to Blanket Insurance Policies, was signed into law. The measure will become effective on January 1, 2013. The new law modernizes outdated provisions of the California Blanket Insurance Policy Law, which limited the classes of persons who could be covered by blanket insurance. Click here for a copy of AB 2084, as of September 14, 2012.
Read More California Legislature Amends Blanket Insurance Policies Law

In a case challenging the California Department of Insurance’s (CDI) accusation against life and health insurers of multiple unfair and deceptive practices in violations of the California Insurance Code and the Fair Claims Practices Regulations (FCPR), an administrative law judge ruled that the CDI had overstepped its powers deriving from the Fair Claims Settlement Practices Regulations, and particularly Section 790.03 of Insurance Code. …
Read More California Judge Spares Insurers Heavy Fines for Alleged Unfair Acts Violations

Among the far-reaching reforms included in the Dodd-Frank Act (the “DFA”) was a comprehensive new regulatory framework for derivatives.  Title VII of the DFA authorizes the Commodity Future Trading Commission (“CFTC”) and the Securities Exchange Commission (“SEC”) to require that certain “swaps” (regulated by the CFTC) and “securities-based swaps” (regulated by the SEC) be cleared through a clearing organization as to swaps or a clearing agency as to securities-based swaps. …
Read More Derivatives Clearing Required by Dodd-Frank Will Apply to the Insurance Industry

On September 12, 2012, the National Association of Insurance Commissioners (NAIC) issued a press release announcing adoption of a new model law, the Risk Management and Own Risk Solvency Assessment Act. The requirements of this Act will become effective on January 1, 2015. …
Read More NAIC Announces Adoption of Risk Management and Own Risk Solvency Assessment (ORSA) Model Act

The  Marcellus Shale Coalition will be hosting SHALE GAS INSIGHT™ 2012 at the Pennsylvania Convention Center in Philadelphia from Wednesday, September 19, through Friday, September 21.  Edwards Wildman attorneys Marc Voses, Tony Hopp, Len Kurfirst and Greg Hoffnagle will provide live updates throughout the conference at www.InsureReinsure.com and @EdwardsWildman on Twitter. …
Read More Edwards Wildman to Attend Premier Industry Fracking Conference in Philadelphia

In Itochu Corporation v Johann MK Blumenthal GMBH [2012] EWCA Civ 996 the Court of Appeal refused to grant permission to appeal an order granted by Mr Justice Andrew Smith that a sole arbitrator be appointed in an arbitration between the applicants, Itochu Corporation (Itochu) and the respondents, Johann MK Blumenthal GMBH (Johann). …
Read More UK: Court of Appeal Rules on Scope of Appeals Under S18 of the Arbitration Act

October 10, 2012
Edwards Wildman Palmer LLP
225 West Wacker Drive, Suite 3000
Chicago, Illinois  60606

Edwards Wildman Speakers:  Chris Finney, Thomas F. Bush, Neil R. (“Nick”) Pearson, Theodore P. Augustinos, Brian J. Green, Brent R. Austin, Patrick J. Gennardo…
Read More Half-Day Insurance and Reinsurance Seminar

HEALTHCARE HEARINGS SCHEDULED AS CONGRESSIONAL RECESS ENDS
Congress’s annual August recess ended today and both House and Senate groups have scheduled hearings this week relating to implementation of the Patient Protection and Affordable Care Act (PPACA). …
Read More Healthcare Update: Healthcare Hearings Scheduled as Congressional Recess Ends