On Monday, February 22, Representatives Tom Perriello (D-Va.) and Betsy Markey (D-Colo.) introduced H.R. 4626, the Health Insurance Industry Fair Competition Act, to repeal the McCarran-Ferguson Act antitrust exemption for the business of health insurance. …
Read More House Introduces Health Insurance Bill to Repeal Antitrust Exemption

New requirements making the HIPAA privacy and security rules applicable to business associates of healthcare entities became effective on February 17, 2010.  However, the new requirements, under the the Health Information Technology for Economic and Clinical Health (“HITECH”) Act, may not be enforced immediately. 

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Read More Business Associate Regulations Effective; Enforcement Uncertain

In Yechiel v Kerry London Limited [2010] EWHC 215 (Comm) the High Court had to decide whether Norwich Union had been notified by Yechiel’s insurance brokers, Kerry London, that Yechiel would be removing jewellery valued at £133,600 from a Selfridges safe deposit box for more than 14 days. 

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Read More UK: Fabrication of Documents

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. 

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Read More UK: Third Party (Rights Against Insurers) Bill

Please join the U.S. Reinsurance Under 40s Group at the upcoming “It’s Almost Spring” Happy Hour — March 4, 2010 at Social at 6:00 p.m. — to celebrate the end of the winter. 

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Read More Join the U.S. Re Under 40s at the “It’s Almost Spring” Happy Hour

With Congress in recess last week, the White House worked behind the scenes to craft a healthcare reform bill that will be used as a basis for moving forward during the bipartisan healthcare summit scheduled for this week.  Meanwhile, more and more Democratic Senators formally voiced their support for reviving the controversial public option and using the budget reconciliation process to pass a final bill. …

Read More Last Week in DC: The Healthcare Reform Debate – February 22, 2010

Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York granted McGraw Hill and Moody’s (together, the “Ratings Agencies”) motions to dismiss in both Tsereteli v. Residential Asset Securitization Trust 2006-A8 et al. and In re: IndyMac Securities Litigation — but without issuing detailed written

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Read More Two More Dismissals of Securities Act Lawsuits Against Rating Agencies

Semperian PPP Investment Partners (Semperian) has pleaded guilty to an offence under section 191(3) of the Financial Services and Markets Act 2000. Semperian acquired an authorised firm before it had received the necessary approval of the Financial Services Authority (FSA). …
Read More UK: FSA Prosecutes for Change of Control Offence

At The Insider Scope 2010 seminar in London on 10 February 2010, Joe Plumeri, Chairman and Chief Executive of Willis – and “Number 1 Fan” of the insurance industry – put forward his outlook for the (re)insurance industry. During his speech, Mr Plumeri set out his “Top Ten Risks in 2010”. 

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Read More Chairman and Chief Executive of Willis Sets Out (Re)Insurance Industry’s “Top 10 Risks in 2010”

The New Jersey Appellate Division in William H. Hall Co. v. Harleysville Ins. Co. of NJ (October 13, 2009) reversed and remanded a trial court’s decision in a declaratory judgment action following summary judgment motions made by the parties. 

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Read More New Jersey Trial Court Cannot Apportion Defense Costs Based On Claimed Damages, But Must Apportion Based On The Reasonable Value Of The Legal Services Rendered In Defending The Respective Claims