Former United States Senator Alfonse M. D’Amato, Connecticut attorney and insurance expert Thomas F.X. Hodson, and former Superintendent of the New York State Insurance Department Gregory V. Serio announced on March 9, 2012 the formation of Charter Risk Management Services, LLC, a new full service captive insurance company management firm. …
Read More Charter Risk Management Services, LLC Formed as Full Service Captive Management Firm in Connecticut

The Florida Senate and House of Representatives are currently battling over what is, at least, the fourth concerted effort to reform Florida’s personal injury protection coverage law in the last decade. …
Read More Spotlight on Florida PIP Reform Battle Between Florida House and Senate

In a 51-48 vote on March 1, the Senate rejected a controversial amendment that would have allowed health plans to decline to cover health services to which the plan or its sponsor has a moral or religious objection. The amendment would have reversed a rule that was created pursuant to the Patient Protection and Affordable Care Act (PPACA). …
Read More Healthcare Update: Senate Rejects Anti-Contraception Amendment; State Budget Shortfalls Put Medicaid and Other Programs at Risk; NJ Postpones Long-Term Care Overhaul

The Law Society of England and Wales and the Solicitors Regulation Authority (SRA) have been granted leave by the High Court to intervene in the case of Godiva Mortgage Limited v Travelers Insurance in which Travelers is arguing that it is entitled to cap cover by aggregating claims made against its insured, Willmett Solicitors, a Berkshire firm now in liquidation. …
Read More UK: Law Society and Solicitors Regulation Authority Join Forces to Intervene in a Landmark Professional Indemnity Insurance Case

In February 2012, the New York State Department of Financial Services (DFS) announced that it is launching a “wide-ranging probe into the accuracy of the data used by insurers and health maintenance organizations (HMOs) to request health insurance rate increases.” …
Read More N.Y. Regulators Launch Audit of Health Insurance Rates

Connecticut Governor Dannel P. Malloy has recently put forth proposals in an effort to make Connecticut an enticing domicile for captive insurance companies.  According to media reports, Governor Malloy has asked the legislature to approve a $7,500 first-year tax credit for new captive insurers. …
Read More Connecticut Governor Announces Plans To Build Captive Insurance Market

In a decision likely to impact foreign nationals as well as airlines, airports, and related insurers, the 9th Circuit Court of Appeals recently affirmed a lower court ruling which held that a Malaysian citizen studying in the U.S. has legal standing to sue in U.S. courts to challenge the mistaken presence of her name on the No-Fly List. …
Read More Ninth Circuit Affirms Foreign Nationals’ Standing to Challenge “No-Fly List” Inclusion

CONGRESS PASSES “DOC FIX”
The payroll tax cut deal approved by the House and Senate on February 17 includes $21 billion in healthcare spending, much of which comes from blocking the physician pay rate drop of 27.4% that would have taken effect on March 1. Medicare Fee Schedule payment rates will now be frozen at their current levels through December 31. …
Read More Healthcare Update: Congress Passes “Doc Fix”; North Carolina Granted MLR Waiver; Wisconsin’s Request Denied

In a market bulletin published on 14 February 2012, Lloyd’s announced a new Code of Practice and Guidance note in relation to the transfer of interests in Lloyd’s corporate members. Greater consideration is now being given to acquiring interests in corporate members as a means of acquiring underwriting capacity outside of the capacity auctions. …
Read More UK: Transfer of Interests in Lloyd’s Corporate Members