In a judgment handed down last week, the Court of Appeal upheld the decision of Mr Justice Blackburne (previously reported here) that the English courts have no jurisdiction to sanction the proposed scheme of arrangement for Lehman Brothers International Europe (LBIE) insofar as it purports to extinguish rights of beneficiaries under trusts. 

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Read More UK: Court of Appeal Confirms that English Courts have no Jurisdiction to Sanction Lehman Brothers Scheme

Liberty Mutual Insurance Europe Limited (LMIE) was recently granted authorization by Ecuadorian insurance regulator la Superintendencia de Bancos y Seguros (SBS) to do business in the country as a foreign reinsurer.  LMIE was advised through the application process by EAPD attorneys Jack Dearie and Machua Millett, together with local counsel. 

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Read More Ecuador: Liberty Mutual Insurance Europe Limited Obtains Foreign Reinsurer Authorization

In a meeting this week with Democrats from the Florida House of Representatives, Florida Insurance Commissioner Kevin McCarty stated that, in his opinion, damages associated with allegedly toxic Chinese drywall are not covered damages under homeowner’s insurance policies. …
Read More Chinese Drywall – Florida Insurance Commissioner States that Chinese Drywall Damage Not Covered By Homeowner’s Policies

In Wickham Van Eyck (a firm) v Norwich Union Insurance Limited [2009] EWCH 2625 (Comm), the High Court held that the defendant insurer was bound to indemnify the claimant firm of architects under the terms of an insurance policy in respect of a dispute between the claimant and another firm of architects. 

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Read More UK: Court Refuses to Imply Concept of Dominant Purpose into Insurance Policy Wording

Insurers of solicitors’ firms that have been intervened by the Law Society are not entitled to search through all the Law Society’s documents for evidence that would enable them to refuse an indemnity, the High Court has ruled. …
Read More UK: High Court Refuses to Give Insurer Access to a Firm’s Intervention Documents Held by the Law Society

H.R. 2609, the Insurance Information Act of 2009, was reintroduced into the U.S. House of Representatives on May 21, 2009 by Representative Paul Kanjorski (D-PA).  The act would establish the Office of Insurance Information (the “OII”).  A revised discussion draft of H.R. 2609, released on October 1, 2009, was the subject of a recent Congressional hearing and debated in the House Financial Services Committee on October 27, 2009. …
Read More Representative Kanjorski Attempts to Form an Insurance Information Office with Regulatory Powers

On Tuesday, October 29, 2009, New York State Insurance Department (“NYSID”) Superintendent James Wrynn announced that the NYSID entered into a Memorandum of Understanding (“MoU”) with the Superintendencia del Sistema Financiero de El Salvador (“SSF”), El Salvador’s insurance regulator. 

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Read More New York State Insurance Department Announces Cooperation Agreement with El Salvador

Allergan, Inc., the maker of the drug Botox, recently filed suit against the Food & Drug Administration, alleging that certain FDA regulations unconstitutionally restrict Allergan’s truthful speech regarding off-label uses of its drug. 

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Read More Botox Maker Files First Amendment Suit Against the FDA

In a recent decision of the United States District Court for the Southern District of New York, TIG Ins. Co. v. Global Int’l Reins. Co., Ltd., No. 09 Civ. 1289 (Aug. 7, 2009), the court ruled that an arbitrator’s decision to ignore certain evidence is not a proper ground for vacating an arbitration award. …
Read More Southern District of New York Confirms Arbitration Award Dismissing Fraud Claims on Summary Judgment

Stephen Prignano and Denise Kraft, of Edwards Angell Palmer & Dodge, LLP, have obtained summary judgment for Lexington Insurance Company (“Lexington”) in an insurance coverage dispute arising out of a salmonella outbreak caused by contaminated peanut butter. 

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Read More Delaware Court Holds that Endorsement Requires Exhaustion of Separate Retained Limits for Each Lot or Batch of Contaminated Peanut Butter