Wednesday’s announcement that Senate Banking, Housing and Urban Affairs Committee Chairman Christopher Dodd (D-CT) will retire and not seek reelection in 2010 will surely have an impact on the large-scale financial regulatory overhaul effort he is currently shepherding through the Committee. 

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Read More What Dodd’s Retirement May Mean for Financial Regulatory Overhaul

At the end of December 2009, Massachusetts Attorney General Martha Coakley released a comprehensive report criticizing Massachusetts managed competition system for the deregulation of auto insurance.  Prior to the managed competition system being introduced in 2007, auto insurance rates were set by the Massachusetts Division of Insurance for all insurers. …
Read More Massachusetts Attorney General Issues Report Stating Managed Competition of Auto Insurance Has Failed

As we previously reported here and here, the New York State Insurance Department (“NYSID”) has announced its intention since July 2008 to revive the currently defunct New York Insurance Exchange (the “Exchange”). …
Read More UPDATE: New York To Move Ahead With Insurance Exchange Revival

In Clydesdale Financial Services Ltd and others v Robert Smailes and others [2009] EWHC 3190 (Ch), the principal issues before the Court were whether the third claimant, Focus Insurance Company Ltd (Focus), had a real prospect of success in its claims to be, first, a creditor (under the Insolvency Act 1986) of the fifth defendant, Alexander Samuel LLP (LLP) in respect of unpaid premiums and, second, a “victim” under ss.423-425 of the Insolvency Act 1986 of the sale of LLP’s business to Jiva Solicitors LLP (Jiva) effected around the same time as it went into administration. 

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Read More UK: English High Court Decides that a Non-Creditor Can be Established as a “Victim” of a Transaction at an Undervalue

In Ms Jacqueline Power v (1) The Trustees of the Open Text (UK) Limited Group Life Assurance Scheme (2) Open Text (UK) Limited [2009] EWHC 3064 (Ch), the High Court considered whether either the trustee of an employee life assurance scheme or the employer that issued the scheme was under a duty to consider the level of cover provided under the scheme and whether the trustee was under a duty to consider whether the cover was appropriate. 

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Read More UK: Trustees’ Duties in Employee Life Assurance Schemes

Recently, Judge Stanwood Duval, Jr. of the U.S. District Court of the Eastern District of Louisiana, found the U.S. Army Corps of Engineers liable for damages resulting from Hurricane Katrina-related flooding that occurred in certain areas outside of New Orleans. 

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Read More Army Corps of Engineers Held Liable in the “MRGO” Katrina-Related Litigation

In Barber v. Berthiaume, No. NNH-CV-05-4009532-S (Oct. 19, 2009), a contractor was hired to expand and repair plaintiff’s home.  As part of that work, the contractor was required to raise the home in order to construct new piers.  During that process, the house toppled, causing damage in the amount of $26,000. 

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Read More Connecticut Superior Court Holds Business Risk Exclusion Bars Coverage for Damage to Entire Home When it Toppled After Being Raised by Contractor

In Vincoli v. Hartford Underwriters Ins. Co., FST-CV-09-5009591-S (Conn.Super. Sept. 24, 2009), a Connecticut Superior Court recently denied an Insurer’s motion to strike counts alleging bad faith and violations of CUTPA from a complaint.  The Insured was seriously injured when his car struck a tree after he was forced to take evasive action to avoid colliding with a phantom motorist. …
Read More A Connecticut Superior Court Denies Insurer’s Motion to Strike Counts Alleging Bad Faith and Violations of CUTPA

The Court of Appeals for the Third Circuit, applying New Jersey law, recently held that all claims against an insured architectural firm arising out of the firm’s architectural work on a parking garage that later collapsed are not covered under its general liability policies due to professional services exclusions. …
Read More Third Circuit Holds That Professional Services Exclusion in General Liability Policy Applies To All Allegations Arising Out of Architect’s Work and Insurers Had No Duty To Defend

The Georgia Supreme Court recently remanded a case alleging an insurer’s bad-faith failure to settle based upon the fact that the trial court improperly instructed the jury that where a claimant’s demand is conditioned upon the response of another insurance company, the insurer’s offer of its policy limits fulfills its duty to its insured. …
Read More Georgia Supreme Court Holds Insurer Not Entitled to Safe Harbor Jury Instruction Where it Conditioned Tender of Policy Limits