In the recent case of Greene Wood Mclean LLP v Templeton Insurance Ltd (2010) EWHC 2679 (Comm), the Commercial Court considered whether Templeton was liable to GWM, a firm of solicitors, under an after-the-event (ATE) insurance policy. …
Read More UK: ATE Insurer Liable to Solicitors Under ‘No Win, No Fee’ Guarantee

President Obama’s ordered investigation of the BP disaster seems to lend support to BP’s own conclusions about the disaster and challenges congressional claims – as well as those made by others – that BP, Transocean and Halliburton made decisions that sacrificed safety to cut costs. …
Read More Federal BP Spill Panel: No Evidence that Money Trumped Safety in Deepwater Horizon Disaster

Last week, the Washington Department of Labor and Industries (the “Department”) announced that it will increase workers’ compensation insurance premiums on average by 12 percent, or 6.5 cents per hour worked. …
Read More Emergency Rule Proposes Workers’ Compensation Rate Hikes of 12% in Washington State

On November 5, 2010, the New York Insurance Department (the “Department”) issued Circular Letter No. 18 (2010) (the “Circular Letter”) setting forth clarification on the implementation of and compliance of insurance producers and authorized insurers with 11 NYCRR 30 (Regulation 194). …
Read More Industry Group “Underwhelmed” by New York Insurance Department Circular Letter Clarifying the Producer Compensation Transparency Rule

A study released November 3, 2010 by the RAND Institute for Civil Justice and Risk Management Solutions (the “Study”) found that the Catastrophe Obligation Guarantee Act (S.886/ H.R.4014) (the “Proposed Legislation”) would only modestly increase insurance coverage for losses resulting from an earthquake in California. …
Read More Study Finds Proposed Federal Role in Catastrophe Insurance Ineffective

The China Insurance Regulatory Commission (CIRC) recently issued Interim Measures on Investment of Insurance Funds in Private Equity (PE Measures) and the Interim Measures on Investment of Insurance Funds in Real Estate (RE Measures). These became effective on 5 September 2010. …
Read More China: Insurance Companies are Given Permission to Diversify Their Investments into Private Equity and Real Estate Sectors

Connecticut Governor M. Jodi Rell has appointed Barbara C. Spear acting Commissioner of Insurance effective today.  Governor Rell’s office confirmed the appointment of Ms. Spear, who currently serves as the Director of Consumer Services and Business Regulation at the Connecticut Insurance Department (the “CID”). …
Read More Connecticut Names New Insurance Commissioner

Earlier this week the commissioner (the “Commissioner”) of the Florida Office of Insurance Regulation (“FOIR”) announced that the FOIR entered into reduced collateral agreements with three alien reinsurers pursuant to Section 690-144.007 of the Florida Administrative Code (the “Rule”). …
Read More Alien Reinsurers Enter Florida Property and Casualty Market Under Reduced Collateral Rule

In another instalment of the Scottish Lion saga (see our previous blog entries here, here and here) the Outer House of the Court of Session (the Scottish First Instance Court) has ruled that where a scheme creditor submits documents in support of his claim for voting purposes at the creditors’ meeting convened to approve a scheme of arrangement, he is deemed to have waived any privilege there might have been in such documents. …
Read More UK: Scottish Lion – Waiver of Privilege by Creditor Participating in Scheme of Arrangement