In Templeton Insurance Ltd v Motorcare Warranties Ltd [2010] EWHC 3113 (Comm) the Commercial Court heard a dispute between Templeton, an insurance company incorporated in the Isle of Man, engaged in the business of selling mechanical breakdown insurance (MBI), and its UK agent, Motorcare. …
Read More UK: Fraudulent Misrepresentation by Onshore Agent to Offshore Insurer

Mortgage Express v Mehrban Michael Singh Sawali [2010] EWHC 3054 (Ch) concerned attempts by Mortgage Express to obtain the entire contents of a solicitor’s files created in relation to the solicitor’s joint retention by Mortgage Express and a number of its borrowers. …
Read More UK: High Court Ruling Causes Headache for Solicitors’ Professional Indemnity Insurers

On December 2 2010, Bermuda signed a Tax Information Exchange Agreement (“TIEA”) with the People’s Republic of China in an effort to strengthen the economic and political ties between the two countries.  Both Bermuda and China served as co vice-chairs of the Organisation for Economic Co-operation and Development (“OECD”) Global Forum on Transparency and Exchange of Information for Tax Purposes and the TIEA established between the two countries is based on the OECD’s principles of transparency and cooperation. …
Read More Bermuda Signs Tax Information Exchange Agreement with China

A federal court in Florida ruled this fall that a D&O policy does not cover the insured company’s costs in responding to an SEC investigation, nor its internal investigation costs in response to a whistleblower complaint. …
Read More Court Holds That D&O Policy Does Not Cover Internal Investigations Or Costs In Responding to SEC Investigations

Recently, the U.S. Court of Appeals for the Second Circuit affirmed a district court’s ruling denying the motion of plaintiffs-appellants (collectively “LSED”) to compel arbitration of a dispute with Merrill Lynch, Pierce, Fenner & Smith Inc. (“MLPFS”), finding that LSED waived its right to arbitrate by litigating the case for nearly a year before filing its motion. …
Read More Second Circuit Determines Party Waived its Right to Arbitrate

A recently-filed National Labor Relations Board (NLRB) complaint asserts that a company’s social media policy, which forbids employees from engaging in certain activities on the Internet, violates federal labor law. …
Read More NLRB Complaint Asserts That Employer’s Social Media Policy Violates Federal Labor Law

On December 8, 2010, the United States House of Representatives passed Senate Bill 3987, the Red Flag Program Clarification Act of 2010, to exempt lawyers, doctors, accountants, and other professionals from the Red Flags* Rule.  Having been approved by both Houses of Congress, the Act requires only President Obama’s signature to become law. …
Read More Congress Passes Act to Exclude Attorneys, Other Professionals From Reach of Red Flags Rule

In the wake of the worldwide financial crisis and election of the UK’s coalition govrnment, HM Treasury proposed a wholesale overhaul of the financial regulatory system in the UK in a consultation document issued in July 2010 entitled “A new approach to financial regulation: judgement, focus and stability“. …
Read More UK: Treasury Publishes Responses to its Consultation on Reforming the Financial Regulatory System

Launched by Prince Charles in 2007, ClimateWise is global collaboration of leading underwriters and brokers focused on reducing the risks of climate change.  For a complete list of member insurance companies, click here. …
Read More Prince Charles’ ClimateWise Finds Insurers Are Increasing Investment in Climate-Friendly Businesses