The English High Court, in Loyaltrend Limited and Sye Razvi v Brit UW Limited & Others [2010] EWHC 425 (Comm), ruled in favour of the Second Defendant (Brit) because the Claimants failed to notify the insurer in a timely manner as specified in the policy. …
Read More UK: High Court Rules no Liability for Lack of Timely Notice

A federal jury in Boston recently returned a verdict against Pfizer Inc. in connection with claims that Pfizer unlawfully promoted off-label uses of its anti-epilepsy drug Neurontin.  The plaintiffs, a group of hospitals and HMOs, claimed that Pfizer had fooled them into believing that Neurontin was effective in the treatment of bipolar disorder, neuropathic pain and other conditions. 

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Read More Jury Awards $141 Million Against Pfizer in Connection With Off-Label Use of Neurontin

Blue Cross Blue Shield of Massachusetts and the Massachusetts Association of Health Plans have sued the Massachusetts Division of Insurance (DOI) after the DOI’s decision last week to reject most proposed rate increases for small businesses for the current calendar quarter. 

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Read More Massachusetts Health Insurers Sue Over Rejected Rate Increases

Sally Dewar, the Financial Services Authority’s (FSA) managing director of Risk, gave a speech entitled “Taking the FSA’s corporate governance agenda forward” at the City Corporate Governance and Remuneration Summit on 30 March 2010. 

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Read More UK: Speech by Sally Dewar – Taking the FSA’s Corporate Governance Agenda Forward

As Members of Congress returned home last week to discuss the new healthcare reform law with their constituents, President Obama put the finishing touches on the process by signing a package of healthcare corrections into law.  Meanwhile, Health and Human Services (HHS) Secretary Kathleen Sebelius wasted no time in announcing her department’s intent to clarify potentially confusing language in the new law. …
Read More Last Week in DC: The Healthcare Reform Debate – April 6, 2010

The UK Government has announced a consultation on proposals to strengthen the administration regime for insurers, in particular to improve the protection and payment of benefits for persons insured with companies facing financial difficulties and addressing gaps in the administration regime for insurers as compared with the liquidation regime. 

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Read More UK: Government Consultation on Strengthening the Administration Regime for Insurers

As previously reported here, the Third Parties (Rights against Insurers) Bill was introduced into Parliament in November 2009. It is designed, in particular, to remedy the shortcomings of current legislation in protecting the rights of third party claimants against insurers of the liabilities of insolvent defendants. …
Read More Third Parties (Rights against Insurers) Bill Receives Royal Assent

In Darren Bent v (1) Highways and Utilities Construction Ltd; (2) Allianz Insurance Plc [2010] EWCA Civ 292, the Court of Appeal was asked to order a retrial of the first instance decision of Mr Justice Yelton sitting in Cambridge County Court. …

Read More UK: Court of Appeal Order Retrial in Luxury Car Credit Hire Case

According to a recent report from Reuters, London’s marine insurance market has added Iran to a list of areas deemed high risk.   The Lloyd’s Market Association (LMA) announced the move on Monday, March 22, 2010, ahead of possible sanctions being pushed by the U.S., among other countries. …
Read More London Insurers: Iran on High Risk Area List as Sanctions Loom

The European Company Statute (Regulation 2157/2001, which is directly applicable in EU member states) was adopted on 8 October 2001 and came into force on 8 October 2004. It required the Commission to report on its application five years after coming into force. The Commission published its consultation on 23 March 2010, together with a report by external consultants. …
Read More EU: European Commission Publishes a Review of the European Company Statute