Petitioner Sun Life Assurance Company of Canada (“Sun Life”) moved to confirm an arbitration award against Respondents Liberty Mutual Insurance Company, Golden Eagle Insurance Corporation and San Diego Insurance Company.  The award was rendered by a panel of three actuaries and required Sun Life to pay a specific commutation amount to Respondents pursuant to certain reinsurance contracts. …
Read More California Federal Court Finds That Issue of Whether Commutation Terminated Certain Reinsurance Contracts was for the Arbitration Panel to Decide

As previously reported here, the Third Parties (Rights Against Insurers) Bill was introduced into Parliament in November 2009. It is continuing to progress through the House of Lords, having completed the Special Public Bill Committee stage on 9 February 2010. 

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Read More UK: Third Party (Rights Against Insurers) Bill Passes Through Special Public Bill Committee Stage

The High Court has awarded almost £400,000 to a group of motor insurers who won a civil case against 57 members of a “crash for cash” insurance fraud ring. 

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Read More UK: High Court Awards Exemplary Damages Against ‘Crash for Cash’ Insurance Fraudsters

On 8 February 2010, Lloyd’s released its 2010 to 2012 strategy plan, including specific corporate actions for 2010. The strategy plan follows a detailed review of the market’s position involving more than 50 managing agents, brokers and market associations. 

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Read More UK: Lloyd’s Publishes its 2010 to 2012 Strategy and Reshuffles Management

The Financial Services Authority (FSA) has recently confirmed, in a policy statement entitled “Publication of Complaints Data: including Feedback to CP09/21“, that insurance companies and other financial institutions must publish information on how they handle complaints. 

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Read More UK: The Financial Services Authority has Confirmed that Insurance Companies Must Publish Complaints Data

This updates our January 27, 2010 posting.  At the Insider Scope conference in London on February 10, 2010, New York Insurance Department (“NYID”) Superintendent James Wrynn announced that the NYID is targeting September 2010 for the publication of its action plan for the launch of the reconstituted New York Insurance Exchange (the “Exchange”). …

Read More New York Insurance Department Sets Target Date For Insurance Exchange Revival (Updated)

Joseph G. Murphy, the acting Massachusetts Insurance Commissioner, has been named the new Massachusetts Insurance Commissioner.  Murphy temporarily took over the duties of insurance commissioner after Nonnie Burns stepped down in September 2009. …
Read More New Massachusetts Insurance Commissioner Named

On November 27, 2009, the United States Court of Appeals for the Eighth Circuit held that failure to warn claims directed at generic pharmaceutical manufacturers are not preempted by federal law. 

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Read More Eight Circuit Rejects FDA Preemption Defense Raised by Generic Drug Manufacturers

As previously reported here, the Scottish Court of Session rejected insurers’ challenges, by way of judicial review, to the Damages (Asbestos-related Conditions) (Scotland) Act 2009 by a judgment handed down by Lord Emslie on 8 January 2010. …
Read More UK: Insurers Appeal Decision by Scottish Court to Reject Challenge Over Compensation for Pleural Plaques