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

The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has announced that it will run an EU-wide stress test for Europe’s largest insurers during December. It is expected that large (re)insurers such as Hannover Re, Munich Re and Allianz will be tested. 

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Read More EU: European Insurers to Undergo Stress Tests in December

On Tuesday, November 10, 2009, the Senate Banking Committee, chaired by Senator Christopher Dodd (D-CT), released a first draft for discussion of the American Financial Stability Act of 2009 (the “Act”). 

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Read More Senate Banking Committee Releases First Draft of American Financial Stability Act of 2009; Includes Nonadmitted and Reinsurance Reform Act and National Insurance Office

In November 2008 we reported here that the English High Court had ruled that employers’ liability policies, however they are worded, are triggered by exposure to asbestos and not when, many years later, the tumour develops. 

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Read More UK: Employer’s Liability Trigger Judgment – Appeal Starts Today