On 1 April 2010 the ABI held a seminar for liability carriers on developments in relation to EL, covering two main topics, the ELTO (Employers’ Liability Tracing Office) and a possible scheme for compensating those with EL claims.
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UK: Financial Services Act 2010
By Troutman Pepper Locke on
The Financial Services Act 2010 (the Act) received Royal Assent on 8 April 2010. The Act amends the Financial Services and Markets Act 2000 to address a number of issues that are perceived to have contributed to the financial services crisis …
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HK: Hong Kong and Guangdong sign Cooperation Agreement
By Troutman Pepper Locke on
Posted in Hong Kong, Regulatory
The Governor of Guangdong Province, representing the Guangdong Provincial Government, and the Chief Executive of the Hong Kong Special Administrative Region (the SAR) signed a Framework Agreement on Hong Kong/Guangdong Co-operation (the Framework Agreement) at a signing ceremony in Beijing on 7 April 2010. …
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Tax Treatment of Carried Interest Could Be Revived in Senate
By Troutman Pepper Locke on
Posted in Federal Legislative Developments, United States
Though the Senate passed its Tax Extenders legislation in mid-March without including House language to change the tax treatment of the “carried interest” income of investment managers, the issue may receive a second look in the coming weeks.
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EU: Solvency II – first Level 3 guidance published
By Troutman Pepper Locke on
On 31 March 2010, the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) published the first of its Level 3 guidance for Solvency II. …
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Connecticut Superior Court Awards Summary Judgment in Favor of Insurer on Uninsured Motorist Claim Involving Bottle-Throwing Pedestrian
By Troutman Pepper Locke on
The Connecticut Superior Court recently awarded summary judgment in favor of an insurer on an uninsured motorist claim involving a pedestrian who threw a bottle at the automobile driven by the plaintiff, injuring the plaintiff in the process. …
Read More Connecticut Superior Court Awards Summary Judgment in Favor of Insurer on Uninsured Motorist Claim Involving Bottle-Throwing Pedestrian
$30.3 Million Jury Award in Secondhand Asbestos Lawsuit Upheld on Appeal
By Troutman Pepper Locke on
We first reported on this secondhand exposure lawsuit here.
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Read More $30.3 Million Jury Award in Secondhand Asbestos Lawsuit Upheld on Appeal
Update: U.S. Senate Fails to Extend National Flood Insurance Program
By Troutman Pepper Locke on
Posted in Regulatory, United States
As we previously reported here, the Senate voted to end floor debate on a bill that includes reinstating the National Flood Insurance Program (“NFIP”) on Monday, April 12, 2010.
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Read More Update: U.S. Senate Fails to Extend National Flood Insurance Program
Iowa Enacts Law Requiring 30-Day Rate Hike Notice from Health Insurers
By Troutman Pepper Locke on
On April 9, 2010, Iowa’s governor Chet Culver signed measures (Senate File 2201) designed to create greater transparency and disclosure of health insurance premiums, and to expand the rights of consumers prior to any rate increases by insurance companies. …
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UK: Government increases payments for mesothelioma victims under statute
By Troutman Pepper Locke on
Following the Government’s announcement last month (as previously reported here), The Mesothelioma Lump Sum Payments (Conditions & Amounts) (Amendment) Regulation 2010 has come into force.
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Read More UK: Government increases payments for mesothelioma victims under statute