Earlier today, Maurice R. Greenberg (Chairman & CEO of C.V. Starr & Co., Inc. and former CEO of American International Group, Inc.) participated in a panel with other guest speakers at the Federalist Society’s National Lawyers Convention.  The panel was entitled “Bailouts and the Government as Insurer of Last Resort.” …
Read More Greenberg Calls for Commission to Scrutinize Standards for Government Bailouts

The Superintendencia de Bancos y Otras Instituciones Financieras (SIBOIF) (Nicaragua), Superintendencia del Sistema Financiero (SSF) (El Salvador) and Superintendencia de Bancos (Superban) (Guatemala) recently released insurance industry results for the first nine months of 2009. 

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Read More Central American Insurance Regulators Report on Market Performance

In a move expressly designed to stimulate competition and reduce prices for personal lines insurance, the Brazilian government recently removed the previously existing prohibition against life insurers selling home and personal casualty insurance. 

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Read More Brazil: Regulatory Change Removes Prohibition Against Life Insurers Selling Home and Personal Casualty Insurance

The U.S. Court of Appeals for the First Circuit recently held that coverage under a directors and officers liability insurance policy is not available for claims against unnamed officers or directors. 

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Read More First Circuit: No Coverage Under a D&O Policy Where The Underlying Complaint Does Not Specifically Name an Officer or Director

The European Court of Justice (ECJ) has recently released its judgment in the case of Swiss Re Germany Holding GmbH v Finanzamt München für Körperschaften, confirming that a transfer of a portfolio of life reinsurance contracts, outside of a business transfer, will be subject to value-added tax (VAT) at the standard rate. 

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Read More EU: European Ruling on VAT Goes Against Reinsurers

The Superintendencia de Pensiones (Supen), the interim regulator of the Costa Rican insurance market, recently issued an opinion stating that the Instituto Nacional de Seguros (INS) and its component entities are not permitted to engage in insurance or reinsurance business outside of the country, whether by acquisition, establishment or joint venture. 

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Read More Costa Rican Insurance Regulator: INS Is Prohibited from Operating Abroad

In Equitable Members Action Group v Her Majesty’s Treasury [2009] EWHC 2495 (Admin), the claimant action group, comprising of current and former policyholders of the Equitable Life Assurance Society (the Society), applied for a Judicial Review of HM Treasury’s rejection of certain findings by the Parliamentary Commissioner for Administration (the Ombudsman). 

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Read More UK: Judicial Review Granted as HM Treasury Found to Have Acted with Injustice and Maladministration

The Insurance and Reinsurance Department of Edwards Angell Palmer & Dodge invites you to view “Up Against A Chinese Drywall:  Recent Developments in the Ongoing Products Liability and Coverage Litigation” – a complimentary 60 minute webinar. 

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Read More EAPD WEBINAR LINK: Up Against a Chinese Drywall – Recent Developments in the Ongoing Products Liability and Coverage Litigation