The U.S. Government Accountability Office (“GAO”) has issued a report (GAO-12-16, the “Report”) regarding state implementation of the Liability Risk Retention Act of 1986 (“LRRA”).  The LRRA permits the formation of risk retention groups (“RRG”), whereby similar businesses with similar risks can self-insure their commercial liability on a group basis. …
Read More GAO Issues Report on Liability Risk Retention Act; Calls for Clarifications by Congress

In Starlight Shipping Co v Allianz Marine and Aviation Versicherungs AG & Ors [2011] EWHC 3381 the High Court ruled that the terms of a settlement embodied in a Tomlin Order  could be enforced by summary relief and that it was not necessary to issue fresh proceedings to do so. …
Read More UK: Court Rules on the Enforcement of Tomlin Orders and Jurisdictional Issues in an Insurance Context

Scott Wallace, the President and CEO of Citizens Property Insurance Corporation (“Citizens”), has announced his resignation to be effective April 2012.  The timing coincides with the completion of Florida’s most recent legislative session, which began today. …
Read More Florida Citizens President and CEO Wallace Announces Resignation

CMS ISSUES ADDITIONAL HEALTH PLAN WAIVERS
On January 6, the Centers for Medicare & Medicaid Services (CMS) announced that it had granted waivers to 1,231 employer-sponsored health insurance plans that will allow them to continue despite their non-compliance with certain requirements of the Patient Protection and Affordable Care Act (PPACA). …
Read More Healthcare Update: CMS Issues Additional Health Plan Waivers; HHS Rejects Two More States’ MLR Waiver Requests; Connecticut Abandons Medicaid Managed Care Model

Edwards Wildman’s Privacy and Data Protection Group is pleased to announce that the newest edition of its White Paper, “Everyone’s Nightmare: Privacy and Data Breach Risks,” has been prepared. The paper discusses legal and regulatory data security and breach notification developments, exposures presented by data breaches, recent major breaches and court decisions, and lines of insurance potentially impacted. …
Read More Everyone’s Nightmare: Privacy & Data Breach Risks

In the case of Liberty Insurance Pte Ltd & ANOR v Argo Systems FZE [2011] EWCA Civ 1572 it was held that the judge at first instance had erred in concluding that Liberty (the appellant insurer) had made an unequivocal representation to Argo (the insured) that it no longer intended to rely on its legal right to be discharged from liability under a policy of marine insurance as a result of Argo’s breach of a warranty. …
Read More UK: In the Absence of Special Circumstances Silence and Inaction Cannot Constitute Unequivocal Representations

The Interstate Insurance Product Regulation Commission (“IIPRC”) issued a press release on January 6, 2012 (the “Release”) announcing that Illinois will accept variable life and annuity product filings using Interstate Insurance Compact (“Compact”) standards.  The Compact is a modernization initiative promoting uniform product standards across states. …
Read More Interstate Insurance Product Regulation Commission Announces That Illinois Accepts Variable Product Filings Through the Compact

Representative Bill Hager, R-Boca Raton, filed HB 1113 (the “Bill”) in the Florida House of Representatives at the end of December 2011 that would place new restrictions on claims bills and which lawmakers can file such bills.  Claims bills, which are based on the state’s sovereign immunity laws, generally limit the liability of government agencies to $200,000. …
Read More Florida Bill Proposes to Limit Claims Bills

Robert E. Wagner has been appointed as acting director of the Illinois Department of Insurance (the “Department”) by Governor Pat Quinn.  Acting Director Wagner most recently served as the Department’s General Counsel. …
Read More New Illinois Department of Insurance Acting Director Named; New Montana Deputy Commissioner of Securities and Insurance Named

Edwards Wildman Palmer LLP will host the Insurance Federation of New York’s 2012 kick-off  “Breakfast with…” program at its New York office on Friday morning, January 20.  The topic  will be the “Impact of Natural Catastrophes in 2011 on Insurers’ Results,” which will be addressed by an expert panel of economists and insurance executives. …
Read More Edwards Wildman to Host IFNY’s 2012 “Breakfast with. . .” Kick-off Program