The Texas Supreme Court recently issued its landmark opinion in the rehearing of Texas Mutual Insurance Co. v. Ruttiger, No. 08-0751 (Tex. June 22, 2012).  The opinion was originally issued on August 26, 2011, but was withdrawn after the Court granted the parties’ motion for a rehearing on February 17, 2012. …
Read More Texas Supreme Court Holds that Workers’ Compensation Carriers are Not Subject to Common Law Bad Faith Claims

In Elafonissos Fishing and Shipping Company v Aigaion Insurance Company SA [2012] EWHC 1512 (Comm), the High Court found that the defendant insurer must pay for losses suffered by the claimant’s fishing vessel as a result of Cyclone Bondo in Madagascar in 2006. …
Read More UK: High Court Says Warranties to be Construed Narrowly

On 1 July 2012, a European Union (EU) ban on payment by EU-based insurers of any claims related to the shipment of oil or oil products across Iran’s borders comes into force. The ban will prevent buyers of Iranian oil from purchasing protection and indemnity (P&I) insurance in the London market. …
Read More EU: Ban on Insurance of Tankers Carrying Iranian Oil

In European Group Limited and Others v Chartis [2012] EWHC 1245 (QB), Mr Justice Popplewell held that damage to the insured’s property during transportation was proximately caused by an external fortuitous accident or casualty, and therefore there was no room for “inherent vice” to be an additional proximate cause. …
Read More UK: English High Court Interprets “50/50” and “Inherent Vice” Clauses

In the latest development in the “Toxic Sofa” litigation (see our blogs of 30 March 2010 and 29 April 2010), the High Court has ruled in (1) Argos Ltd (2) Homebase Ltd and Others v Leather Trade House Ltd (Formerly BLC Leather Technology Centre Ltd) [2012] EWHC 1348 (QB) that Argos and Homebase are able to recover by way of an indemnity from Leather Trade House the sums they had paid out to victims of a harmful anti-fungal chemical used in their leather sofas. …
Read More UK: Negligent Advisers to indemnify Argos and Homebase in “Toxic Sofa” Litigation

On June 4, 2012, Connecticut Governor Dannel P. Malloy signed into law Public Act 103 and Public Act 139, both of which follow model laws recently put forth by the National Association of Insurance Commissioners (“NAIC”). …
Read More Connecticut Enacts NAIC Model Laws Regarding Enterprise Risk and Collateral Reduction for Alien Reinsurers

The California State Senate has unanimously passed SB 1216 and SB 1448, both of which follow model laws recently put forth by the National Association of Insurance Commissioners (“NAIC”). …
Read More California Senate Advances NAIC Model Laws Regarding Enterprise Risk and Collateral Reduction for Alien Reinsurers

June 13, 2012
Edwards Wildman Palmer LLP
750 Lexington Avenue
New York, New York  10022

Edwards Wildman Speakers:  Thomas F. Bush, Mark Everiss, E. Paul Kanefsky, Vincent J. Vitkowsky, Laurie A. Kamaiko, Brian J. Green, Neil R. (“Nick”) Pearson, Brent R. Austin, Patrick J. Gennardo
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Read More EDWARDS WILDMAN NEW YORK SEMINAR: 11th Annual Half-Day Insurance and Reinsurance Seminar – Wednesday, June 13, 2012