BP Plc (BP) wants to significantly limit future claims related to its Deepwater Horizon disaster as the region’s economy recovers, the oil company said in a document made public on Friday and reported by Reuters. …
Read More Deepwater Horizon: BP Asserts Gulf Has Recovered, Wants to Cut “Future Loss” Claims

As previously reported, the New York Attorney General Eric Schneiderman began issuing subpoenas in late June to various life insurers concerning their use of the Social Security Death Master File (“DMF”) and compliance with New York’s abandoned property laws. The New York Attorney General has issued at least nine subpoenas as part of an investigation into how the life insurance industry uses the DMF. …
Read More Client Advisory – New York Insurance Department Requires Life Insurers to Use Social Security Death Master File to Identify Deceased Policy Holders

Please join the U.S. Reinsurance Under 40s Group tonight for a happy hour on the rooftop at the Hotel Indigo, which is located at 127 West 28th Street in New York City.  The Group will be welcoming its new Board for the 2011-2012 term and celebrating another great year. …
Read More Re Under 40s Group to Host Rooftop Happy Hour Event Tonight

Thursday, July 28, 2011 at 11 AM – 12 PM (EDT); 4 PM – 5 PM (BST)

This 60-minute webinar will be presented by EAPD Attorneys Darlene Alt, Nathan Hull & James Killelea. …
Read More Complimentary Webinar: Fallout from the Japan Disaster: Causation & Aggregation Issues Under CBI & Reinsurance Policies

In 2008, shopping mall owner Front Gate brought suit against Fireman’s Fund Insurance Company, accusing it of mishandling property damage claims resulting from wind and rain.  During the course of the litigation, Sunil Chand, an employee of Primero, a contractor for Front Gate, contacted Fireman’s Fund attorney Melissa Dubbs at the law firm of Carlson Calladine & Peterson LLP and provided her with documents evidencing insurance fraud on Front Gate’s behalf. …
Read More California Court of Appeal Vacates Order Requiring Insurer’s Attorney to Answer Deposition Questions; Work Product Privilege Applies

On June 27, 2011, the Obama Administration nominated Roy Woodall as a voting member of the Financial Stability Oversight Council (“FSOC”).  If confirmed by the U.S. Senate, he would become the first voting member of FSOC with a background in insurance, meeting the Dodd-Frank requirement that a voting member with insurance experience be named to the panel. …
Read More Roy Woodall Nominated as Voting Member of FSOC

Last week, the New York State Assembly gave the final approval to a bill, S.B. 5811 and A.B. 8464, that would exempt large commercial insurance policies from certain rate and form approval requirements. …
Read More New York Exempts Large Commercial Insurance Products From Rate and Form Approval Requirements

In Beazley Underwriting Ltd and Anor v Travelers Companies Inc [2011] EWHC 1520 (Comm) it was held that an insured could not claim under its professional indemnity insurance to recover settlement monies paid to brokers under a deed of indemnity when it was not in fact liable. …
Read More UK: Insured Cannot Claim When Not Liable Itself

Federal Investigation

Federal lawmakers recently called on several agencies, including the Securities and Exchange Commission (SEC), the Energy Information Administration (EIA) and the Government Accountability Office (GAO), to investigate whether the natural gas industry has provided an accurate picture to investors of the long-term profitability of their wells and the amount of gas these wells can produce. …
Read More Hydrofracking Under Fire: Federal and State Lawmakers Turn Up Heat on Natural Gas Industry and NY Attorney General Issues Subpoenas to Five Companies