A recent joint report by Lloyd’s 360º Risk Insight and UK think tank Chatham House entitled Sustainable Energy Security: Strategic Risks and Opportunities for Business, finds that worldwide we face an era of ambiguity and volatility in our energy supply.  Mounting prices and supply interruptions will become more recurrent due to growing consumption, insufficient investment, and threats to IT systems and transportation. …
Read More Lloyd’s Reports “Green Energy no Longer Just Nice but Necessary”

As negotiations over a final financial reform overhall draw closer to a conclusion, leadership at the National Conference of Insurance Legislators (“NCOIL”) petitioned Senate leadership for membership in the Financial Stability Oversight Council (“FSOC”). …
Read More State Lawmakers Lobby for a Seat at the Financial Stability Oversight Council

The Bermuda Monetary Authority (“BMA”) announced on June 1 that it had taken an important step towards achieving equivalence with the European Union’s imminent Solvency II regulations by initiating a pilot of its internal capital model (“ICM”) review process with Bermuda’s largest commercial insurers. …
Read More Bermuda Continues Stride Towards Regulatory Equivalency with Solvency II

In July 2009 in New Castle County in the State of Delaware, three separate plaintiffs filed civil suits against E. I. Du Pont De Nemours and Company, Inc. (“DuPont”) alleging that their work at a DuPont textile plant in Mercedes, Argentina from 1961 to 2002 caused them to be exposed to and inhale asbestos fibers. …
Read More U.S. Lawsuits Based Upon Foreign Toxic Tort Liability: A Growing Threat?

According to an estimate provided by Lloyd’s of London, over £6.2 billion worth of insurance coverage has been purchased by individuals and entities in connection with the 2010 FIFA World Cup, which begins today.  Over half of that amount is for coverage for stadiums and training facilities, which reflects the vast amount of money that has been spent constructing and upgrading stadiums ($5.5 billion, according to the New York Times). …
Read More World Cup Insurance Estimated at Over 6 Billion Pounds

We have reported previously on the UK Financial Services Authority (FSA)’s short selling disclosure rules, most recently as consultation on its implementation of the UK’s Financial Services Act 2010 (click here to read our post). In that consultation, the FSA noted that the Committee of European Securities Regulators (CESR) was consulting on a Pan-European regime. …
Read More Europe: Committee of European Securities Regulators Publishes Model Short Selling Disclosure Regime

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. …
Read More EAPD Attends Aviation Insurance Association’s Annual Conference

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