The Second Circuit Court of Appeals recently affirmed a United States District Court for the District of Connecticut’s judgment awarding summary judgment for an insurer seeking to rescind a life insurance policy on the basis that the policy application contained material misrepresentations of fact. …
Read More Second Circuit Court of Appeals Affirmed Summary Judgment For Insurer Ordering Rescission of a Life Insurance Policy Due to Material Misrepresentations in the Application

The United States District Court for the District of Connecticut recently awarded summary judgment in favor of an insurer holding that the insurer had no duty to defend or indemnify the insureds under a rental car’s supplemental liability insurance policy due to the “use” exclusion. 

…
Read More Connecticut Federal Court Awarded Summary Judgment for Insurer Due to “Use” Exclusion of Rental Car Supplemental Liability Insurance Policy

Last week Maryland Governor Martin O’Malley announced that Elizabeth “Beth” Sammis has been appointed as Interim Commissioner of the Maryland Insurance Administration (“MIA”).  Ms. Sammis will replace Ralph S. Tyler, who announced that he would step down from his position as Maryland Insurance Commissioner to accept the position of Chief Legal Counsel to the federal Food and Drug Administration effective January 8, 2010. 

…
Read More Interim Maryland Insurance Commissioner Named

The House returned to session last week, as intense negotiations continued behind the scenes on an agreement that will reconcile the differences between the House- and Senate-passed healthcare reform bills.  On Thursday, a compromise was reached on one of the Senate bill’s more controversial provisions, smoothing a possible path toward a final agreement in the coming weeks. 

…
Read More Last Week in DC: The Healthcare Reform Debate – January 19, 2010

As of Sunday January 17, 2010, foreign reinsurers will be permitted access to a larger portion of the Brazilian reinsurance market as local reinsurers’ right of first refusal will be reduced from 60% of risks in the market to only 40%. …
Read More Foreign Reinsurers Receive Greater Access To Brazilian Market

In Lord Justice Jackson’s final report on his year-long review into costs he has recommended that after-the-event (ATE) insurance premiums should no longer be recoverable from unsuccessful opponents in civil litigation. 

…
Read More UK: Jackson LJ’s Review of Litigation Costs Criticizes ATE Insurance

While the amount of damages and casualties from Tuesday’s magnitude-7 earthquake in Haiti continue to escalate, various reports have indicated that very little of this damage will be covered by insurance.  This is because Haiti is the poorest country and one of the smallest insurance markets in the Western Hemisphere. 

…
Read More Reports – Minimal Insurance Coverage for Damages from Haitian Earthquake

The Chilean Insurance Association recently released predictions that the country’s insurance market will grow by 3.7% in 2010 and 6.7% in 2011.  In particular, Jorge Claude, the president of the association, reportedly stated that the group expects life insurance premiums to grow 2.9% in 2010 and 5.8% in 2011. …
Read More Latin America Update: Growth Numbers and Predictions for Chile, Ecuador, Uruguay and Venezuela