We have previously reported on the UK Financial Services Authority’s (FSA) Client Money and Asset Report (the Report), published in January 2010 (click here to see our previous blog post).
Read More UK Client Money Deadline Approaches
EAPD Attends Aviation Insurance Association’s Annual Conference
By Troutman Pepper Locke on
Mark Meyer (London) and Brian Green (New York) of EAPD will attend the Aviation Insurance Association’s Annual Conference in Vancouver, Canada, which begins on Saturday, June 12. …
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PIANY receives approval on draft language regarding producer compensation disclosure
By Troutman Pepper Locke on
Posted in New York Developments, Regulatory
As previously discussed here, the New York Insurance Department (the “Department”) has put forth a regulation regarding the transparency of insurance producer compensation (“Regulation 194”), which is slated to take effect January 1, 2011. …
Read More PIANY receives approval on draft language regarding producer compensation disclosure
FEMA Confirms NFIP Coverage Applies to Certain BP Oil Spill Damage
By Troutman Pepper Locke on
Posted in Federal Legislative Developments, Regulatory
According to media reports, the Federal Emergency Management Agency (“FEMA”) has confirmed that damage caused by oil mixed with flood waters is covered under National Flood Insurance Program (“NFIP”) policies. …
Read More FEMA Confirms NFIP Coverage Applies to Certain BP Oil Spill Damage
Mexico and Alberta Pass New Data Protection Laws
By Troutman Pepper Locke on
Posted in Privacy/Data Security/Cyber Risk, United States
On April 27, 2010, the Mexican Senate passed a data protection law that addresses how private and public entities handle the collection, use and disclosure of personal information of Mexican residents. …
Read More Mexico and Alberta Pass New Data Protection Laws
Court Denies Wells Fargo’s Motion to Dismiss on Statute of Limitations Grounds
By Troutman Pepper Locke on
Posted in Uncategorized
The United States District Court for the Northern District of California recently granted in part and denied in part motions to dismiss a class action brought by a class of purchasers of mortgage pass-through certificates.
Read More Court Denies Wells Fargo’s Motion to Dismiss on Statute of Limitations Grounds
Court Holds Coverage for Madoff Suits Excluded Under Policy’s Insolvency Exclusion
By Troutman Pepper Locke on
The US District Court for the District of Connecticut recently dismissed a customer suit against an insurer, based upon its determination that all of the underlying claims were excluded by the policy’s Insolvency Exclusion. …
Read More Court Holds Coverage for Madoff Suits Excluded Under Policy’s Insolvency Exclusion
Thousands of Consumers’ Claims for Injuries Arising From Use of Contact Lens Solution Constitute Separate Occurrences
By Troutman Pepper Locke on
Posted in Coverage & Claims, United States
New York District Court recently held that thousands of claims by consumers for injuries arising from use of contact lens solution would be treated as separate occurrences. …
Read More Thousands of Consumers’ Claims for Injuries Arising From Use of Contact Lens Solution Constitute Separate Occurrences
Federal Court in Ohio Recognizes Cause of Action for Insurer Bad Faith Outside Claim Handling Context
By Troutman Pepper Locke on
Posted in Coverage & Claims, Extra-Contractual Liability
“Although Ohio courts have generally found independent tort liability only in cases of improper processing and handling of claims,” the U.S. District Court for the Northern District of Ohio held that a claim predicated on an insurer’s failure to refund unearmed premiums can support an independent claim for bad faith. …
Read More Federal Court in Ohio Recognizes Cause of Action for Insurer Bad Faith Outside Claim Handling Context
Federal funding for Temporary High-Risk Insurance Pool Program to Begin Summer 2010
In July 2010, some of the first money allocated by the new health care reform law will start flowing to states that have elected to participate in the federal temporary high-risk insurance pool program. …
Read More Federal funding for Temporary High-Risk Insurance Pool Program to Begin Summer 2010