In a market bulletin released on 31 March 2011, Lloyd’s set out its revised Claims Management Principles and Minimum Standards (click here for a copy of the bulletin). The revision is part of Lloyd’s Claims Transformation Project in order to “facilitate and increase the competitive advantage from the efficient handling of claims on their merits“. …
Read More UK: Lloyd’s Publishes its Revised Claims Management Principles and Minimum Standards

Late last month, Arkansas enacted Senate Bill 45 (now Act 332, the “Act”), which amends state law to permit surplus lines insurers domiciled in Arkansas to write surplus lines insurance in the state. …
Read More Arkansas Enacts Legislation to Allow for Domestic Surplus Lines Insurers

Earlier this week, the National Association of Insurance Commissioners (“NAIC”) decided that it needed more time to examine the medical loss ratio (MLR) issue before making a decision on whether it would endorse the Access to Professional Health Insurance Advisors Act of 2011 (H.R. 1206) (the “Act”). …
Read More NAIC Postpones Decision To Endorse Bill Advocating the Exclusion of Producer Commissions From the MLR Calculation

Illinois Insurance Commission, Michael T. McRaith, has been selected by the Secretary of the Treasury as the first Director of the Federal Insurance Office (“FIO”), which was created by the Dodd – Frank financial reform legislation instituted last year. …
Read More Director of Federal Insurance Office Named

United States District Court Judge K. Michael Moore of the Southern District of Florida has recently ruled that a pollution exclusion bars coverage for personal injuries and property damages associated with Chinese drywall. …
Read More Chinese Drywall – Florida Federal Court Rules Pollution Exclusion Bars Coverage