Healthcare reform efforts remained in flux last week, as President Obama sought to repackage his party’s priorities in the wake of the shocking Republican victory in Massachusetts on January 19. 

…
Read More Last Week in DC: The Healthcare Reform Debate – February 1, 2010

Join the U.S. Reinsurance Under 40s Group’s at their next event, “Preserving Liquid Assets” Lecture and Wine Tasting, on February 10 at the offices of Edwards Angell Palmer & Dodge in New York. 

…
Read More REMINDER: Re Under 40s Next Event — “Preserving Liquid Assets” Lecture and Wine Tasting

In a significant ruling with potentially wide-reaching implications, Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York dismissed the Securities Act of 1933 causes of action (Sections 11, 12, and 15) against McGraw Hill and Moody’s (the “Rating Agencies”) in In re: Lehman Brother Mortgage Backed Securities Litigation. …
Read More Rating Agencies Dismissed from Section 11 Mortgage-Backed Securities Class Action

Habas Sinai Ve Tibbi Gazlar Isthisal Endustri As (“Habas”) v Sometal S.A.L. [2010] EWHC 29 (Comm) concerned an application to set aside an interim final award on jurisdiction and costs made by an arbitral tribunal by which the tribunal accepted jurisdiction to entertain a claim made by Sometal S.A.L. for breach of contract. …
Read More UK: Incorporation of Arbitration Clauses by General Words

In Global Process Systems Inc & Anor v Syarikat Takaful Malaysia Berhad [2009] EWCA Civ 1398, the Court of Appeal overturned the first instance judgment of the Commercial Court (previously reported here), and found that the cause of the loss was not ‘inherent vice’ (a risk excluded under the claimant insured’s ‘all risks’ policy) but ‘perils of the sea’, a covered risk. …
Read More UK: Court of Appeal Overturns Recent Judgment on ‘Inherent Vice’

The Brazilian federal government has reportedly decided to reduce its control of the nation’s former reinsurance monopoly holder, IRB Brasil Re, in a move that some are referring to somewhat misleadingly as “privatization” of the entity.  The government would reportedly maintain significant control of the entity through a “golden share” arrangement, but would reduce its equity position in the entity below the majority ownership that it currently maintains. …
Read More Brazilian Government Considers “Privatization” of Dominant Government-Controlled Reinsurer IRB Brasil Re

According to a report released recently by Fundacion Mapfre, total premiums for Latin America as a whole grew by 7.4% when comparing the first half of 2009 to the first half of 2008.  Regional premiums for the first half of 2009 reportedly totaled US$ 49.9 billion (35.8 billion Euros). …
Read More Latin American Regional Premiums Grow 7.4%

On 15 January 2010, the Internal Market Directorate General of the European Commission published for consultation a paper by the Centre for European Policy Studies entitled “Tying and other potentially unfair commercial practices in the retail financial service sector“. …
Read More EU: European Commission Publishes Report on Tying and Other Potentially Unfair Commercial Practices in Retail Financial Services