On September 30, 2010, the California Court of Appeal for the Second Appellate District affirmed a superior court ruling that California Constitution Section 28 taxes do not apply to surplus lines insurers.  Section 28 provides that insurers doing business in California are subject to a 2.35% premium tax. …
Read More California Appeals Court Affirms Ruling That Section 28 Tax Does Not Apply To Surplus Lines Insurers

EAPD’s own Alan Levin, co-chair of the firm’s Insurance and Reinsurance Department, gave his thoughts on the insurance claims process and litigation resulting from the BP Plc oil spill in the Gulf of Mexico, in an interview with Bloomberg’s Lee Pacchia.

To listen to this Podcast, please click here.…

Read More In Bloomberg Podcast, Alan Levin Looks at Liability Issues Arising from the BP Oil Spill

Don’t forget to RSVP for the U.S. Re Under 40s Group event at Katwalk on October 7 at 6:00 p.m. as they host members of the Bermuda Under 40s Re/Insurance Group in New York.  It promises to be an excellent opportunity to meet members of the Bermuda Under 40s Group and network with other members of the U.S. Re Under 40s Group. …
Read More Don’t Forget — Join the U.S. Re Under 40s Group on October 7 at Katwalk

This updates our September 2, 2010 posting.  California insurance companies appear to have new incentives to invest in “green” technology, including clean energy projects, efficiency improvements and environmental technology initiatives. …
Read More UPDATE: Insurance Turns “Green” in California

A recent decision of the Third Circuit Court of Appeals, Ario, Insurance Commissioner of the Commonwealth of Pennsylvania, in his official capacity as the statutory liquidator of Legion Insurance Company (in liquidation) v. The Underwriting Members of Syndicate 53 at Lloyd’s for the 1998 Year of Account, No. 09-1921, 09-2989 and 09-2991 (3d Cir. 2010), involved a dispute between the Liquidator of Legion and Villanova, as cedents, and The Underwriting Members of Syndicate 53 at Lloyd’s for the 1998 Year of Account, as reinsurers, which concerned whether the cedents had properly underwrote the business described in the reinsurance placement materials. …
Read More Third Circuit Rules that Clear and Unambiguous Intent is Required to Opt Out of the Removal Provision and Vacatur Standards of the FAA and Convention

On September 28, 2010, the National Association of Insurance Commissioners (“NAIC”) announced that U.S. insurance regulators entered into a Memorandum of Understanding (“MoU”) with the Insurance Bureau of the Republic of China (Taiwan), the official organization that regulates the insurance industry in Taiwan. …
Read More NAIC Announces New Cooperation Agreement with Taiwan

On 22 September 2010, the European Parliament approved a sweeping overhaul of financial supervision in Europe, including the creation of a new supervisory authority for insurance and reinsurance – the European Insurance and Occupational Pensions Authority (EIOPA) – and a European Systemic Risk Board (ESRB) which will monitor threats to the EU economy as a whole. …
Read More European Parliament Approves Overhaul of Financial Supervision in Europe

Nearly 2,000 businesses, unions and state governments have been approved thus far for the federal government’s Early Retiree Reinsurance Program.  Created by the Patient Protection and Affordable Care Act, the program subsidizes health insurance costs for retiring workers age 55 and older who have chronic and high-cost health conditions. …
Read More Early Retiree Reinsurance Program is Underway; It’s Not Too Late to Apply

In a recent case, Helmot v Simon (Guernsey Unreported Judgment, 14 September 2010), the Guernsey Court of Appeal provided a UK record for the highest personal injury compensation payment, with the claimant receiving £13.7 million in compensation for personal injuries caused by a road traffic accident. Liability was admitted by the defendant and therefore the court was only concerned with the level of compensation to be awarded to the claimant. …
Read More UK: Guernsey Sets Record Payout in Motor Claim

On September 24, 2010, the Florida Health Insurance Advisory Board and the state’s Office of Insurance Regulation (OIR) held a joint public hearing to review the impact of the Medical Loss Ratio (MLR) requirements contained in the Patient Protection and Affordable Care Act of 2010.  The Board then passed a resolution to seek a waiver from the MLR requirements. …
Read More Florida Plans to Seek Waiver of Medical Loss Ratio Requirements of PPACA