The Third Parties (Rights Against Insurers) Bill (the Bill) had its 1st reading in the House of Lords on 23 November 2009. It is designed, in particular, to remedy the shortcomings of current legislation in protecting the rights of third party claimants against insurers of the liabilities of insolvent defendants.
Read More UK: Third Parties (Rights against Insurers) Bill Introduced Into Parliament
EAPD Complimentary Webinar: Privacy and Data Breaches (December 1, 2009)
The Insurance and Reinsurance Department of Edwards Angell Palmer & Dodge invite you to join them for the following complimentary webinar: “The Continuing Nightmare of Data Breach and Privacy Risks and Regulations: Increasing Risks, New Regulations, and Changing Deadlines.”
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Read More EAPD Complimentary Webinar: Privacy and Data Breaches (December 1, 2009)
Turkey Frying: 101
By Troutman Pepper Locke on
Posted in Industry Developments, United States
In anticipation of the upcoming Thanksgiving holiday, and for those of you who plan on deep frying your turkey, Georgia Insurance Commissioner John Oxendine has issued some tips on how to safely do so.
Chinese Drywall – Consumer Product Safety Commission Finds Link Between Corrosion and Chinese Manufactured Drywall
By Troutman Pepper Locke on
On Monday November 23, 2009, the Consumer Product Safety Commission (“CPSC”) issued a press statement and study results demonstrating a “strong association” between homes with the Chinese manufactured drywall and levels of hydrogen sulfide and corrosion of metals in those homes.
Senate Panel Approves Data Breach Bills
By Troutman Pepper Locke on
Posted in Privacy/Data Security/Cyber Risk, United States
The Senate Judiciary Committee recently approved two bills on November 5, 2009. The first bill, the Personal Data Privacy and Security Act of 2009 (S. 1490), amends the federal criminal code to make fraud in connection with the unauthorized access of sensitive personally identifiable information (“PII”) subject to federal racketeering charges.
Accountants Seek Injunction to Bar FTC Red Flags Rule Enforcement
By Troutman Pepper Locke on
Posted in Privacy/Data Security/Cyber Risk, United States
On November 10, 2009, the American Institute of Certified Public Accountants (“AICPA”) filed a lawsuit in the U.S. District Court for the District of Columbia on behalf of its nearly 350,000 certified public accountant members against the Federal Trade Commission (“FTC”) to seek an injunction barring the FTC from applying its Red Flags Rule to AICPA members.
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Read More Accountants Seek Injunction to Bar FTC Red Flags Rule Enforcement
Last Week in DC: The Healthcare Reform Debate – November 23, 2009
By Troutman Pepper Locke on
Healthcare reform efforts headed into another weekend showdown, as the Senate kicked-off consideration of its legislation with a key procedural vote on Saturday evening. The timing of that vote was solidified once Democratic leaders released their merged healthcare reform bill last Wednesday – ending weeks of negotiations and speculation over what shape the bill would take.
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Read More Last Week in DC: The Healthcare Reform Debate – November 23, 2009
Completion of Financial Regulatory Overhaul Delayed in House, Federal Reserve Auditing Provision Added
By Troutman Pepper Locke on
Posted in Federal Legislative Developments, United States
After weeks of debate on the various legislative pieces of a large-scale financial regulatory overhaul, the House Financial Services Committee was expected to complete its work this week. However, a committee vote to approve the final piece of the overhaul – the systemic risk bill (H.R. 3996) – was postponed Thursday when Members of the Congressional Black Caucus (CBC) withheld their support for the measure.
NY Court of Appeals Applies Pennsylvania Law to Bar Coverage For Malpractice Claim Pursuant To Prior Knowledge Exclusion
By Troutman Pepper Locke on
Reversing the intermediate appellate court, New York’s highest court recently granted summary judgment in favor of two excess insurers based upon their policies’ prior knowledge exclusion.
NY Lower Court Holds That Insurance Law § 3420(a) Applies to Lawyer’s Claims-Made Malpractice Policy
By Troutman Pepper Locke on
The New York Supreme Court, Erie County, recently held that a lawyers’ professional liability policy constitutes a “policy or contract insuring against liability for injury to person” within the meaning of Insurance Law § 3420(a)(3)-(4).