N.J. State Senator Nicholas Scutari (D-22nd Dist.) introduced Senate Concurrent Resolution No. 105 (the “Resolution”), which is critical of a proposed amendments by the New Jersey Department of Banking and Insurance (the “Department”) affecting the personal injury protection (“PIP”) regulations promulgated under the Automobile Insurance Cost Reduction Act of 1998 (the “Act”). …
Read More Resolution Critical of the New Jersey Department of Banking and Insurance Amendments to the Personal Injury Protection Regulations Introduced to the New Jersey State Senate

In Elafonissos Fishing & Shipping Co v Aigaion Insurance Co SA (2012) EWHC 892 (Comm), the defendant insurers, Aigaion Insurance Co SA (Aigaion), sought to re-amend its Defence to a claim brought by the claimant, Elafonissos Fishing & Shipping Co (Elafonissos), under a policy for marine insurance in relation to a damaged vessel, and to adduce expert evidence in support of its amendments. …
Read More UK: Late Application by Insurer to Re-Amend Defence Succeeds in Part

The New York Department of Financial Services (the “Department”) has made a major step in making it easier for the public to view property and casualty insurance company rate, rule and form filings through a free online database.  These filings are used by P&C insurers to, among other things, introduce new products, support rate increases, or make changes to coverages on existing products. …
Read More New York P&C Rate, Rule and Form Filings Now Available for On-Line Download

This presentation will be of interest to anyone working in, or advising, an international insurance or reinsurance group. It will also be of interest to reinsurers based outside the European Union with reinsureds based inside the Union. …
Read More WEBINAR: Solvency II – Capital Requirements, Groups and Third Country Equivalence -Thursday, May 31, 2012

CMS ISSUES PROPOSED IPPS RULE
On April 24, the Centers for Medicare and Medicaid Services (CMS) issued its proposed Inpatient Prospective Payment Systems (IPPS) rule setting forth hospital payment rate changes for the 2013 fiscal year, which begins October 1, 2012. …
Read More Healthcare Update: CMS Issues Proposed IPPS Rule; PPACA Expected to Save $200 Billion Through 2016

In Atlasnavios-Navegação, LDA v. Navigators Insurance Company Limited & Others [2012] EWHC 802 (Comm), the Commercial Court had to decide, as a preliminary issue, the meaning of clause 4.1.5 of a war risks policy, which incorporated the Institute War and Strikes Clauses 1.10.83 (the Policy). …
Read More UK: Court of Appeal Construes War Risks Policy Exclusion According to its Plain Meaning

In April 2012, the Financial Stability Oversight Council (“FSOC”) issued its Final Rule (the “Rule”) and interpretive guidance on the regulation of systemically important nonbank financial companies, or what many refer to as SIFIs (i.e., “systemically important financial institutions”). …
Read More FSOC Issues Rule for “Nonbank SIFIs”