The Financial Services Authority (the FSA) has recently published a factsheet for general insurance providers entitled “Climate change thematic review: flooding – do your customers know what they are covered for?“. The factsheet has been published following an FSA review of whether general insurers are giving customers clear and accurate information about their cover. 

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Read More UK: The Financial Services Authority Publishes Factsheet for Insurers Providing Flood Insurance

In the case of Goldsmith Williams v Travelers Insurance Company Limited [2010] EWHC 26, Mr Justice Wyn Williams considered the question of whether a company had acted fraudulently. Goldsmith Williams brought a claim against Travelers Insurance Company Limited using the Third Parties (Rights against Insurers) Act 1930 (the 1930 Act). …
Read More UK: High Court Finds that Claim is Excluded as a Result of Director’s Aiding and Abetting

The criminal proceedings in Turin against the former heads of asbestos giant Eternit (as previously reported here) have taken a new turn. A civil case has been linked to the criminal trial and both the European Union (EU) and the Italian Government have been named as civil defendants. It has been reported that 4,000 people have asked to join the case as plaintiffs, and 3,000 people are due to give evidence. 

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Read More Italy: Italian Government and EU are Named as Defendants in Eternit Asbestos Proceeding

In LIDL v Just Fitness Ltd [2010] EWHC 39 (Ch) the Court was asked to decide whether an arbitrator had jurisdiction to determine a particular issue in a dispute, which was alleged to have been addressed in a previous arbitration. …
Read More UK: High Court Rules That any Issue Covered by a Tribunal’s Terms of Reference Cannot be Adjudicated in a Subsequent Arbitration

During the second morning session at the PLUS D&O Symposium, the panelists discussed the role of mediation in D&O claims resolution and the kinds of recurring issues that arise in the mediation context, as well as the best ways that these problems can be avoided or overcome. 

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Read More PLUS D&O Symposium: Morning Session II

President Obama’s proposed Financial Crisis Responsibility Fee, which he unveiled last month, has been included in the 2011 budget proposal released on Monday, February 1, 2010. …
Read More Proposed Financial Crisis Responsibility Fee Could Affect Large Insurers

President Barack Obama’s recently released proposed Budget of the U.S. Government for the Fiscal Year 2011 (the “Proposed 2011 Budget”) would disallow the deduction for excess non-taxed reinsurance premiums paid to foreign affiliates by a U.S. insurance company.  The Proposed 2011 Budget projects that this disallowance would result in tax receipts of $22 million in 2011, and totaling $223 million over the next five years. 

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Read More Obama Proposes Budget That Would End Foreign Reinsurer Tax Advantages