At the lavish opening dinner of the AIRROC/Cavell Commutations and Networking Event 2009, Barbara Murray of Kemper was named as AIRROC’s run-off person of the year. 

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Read More Barbara Murray of Kemper Named as AIRROC’s Run-Off Person of the Year

American Life Insurance Company (Alico) recently received conditional authorization to operate in Costa Rica.  The company will now have 120 days to conform with further regulatory requirements, including the development of acceptable technological and marketing controls. …
Read More Alico Enters the Costa Rican Insurance Market

The 2009 AIRROC/Cavell Commutations and Networking Event in New Jersey USA, began yesterday, October 19, 2009, with Mark Everiss and Nick Pearson of Edwards Angell Palmer & Dodge amongst the record number of attendees at this event. 

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Read More AIRROC/Cavell Commutations and Networking Event 2009

The National Association of Insurance Commissioners (“NAIC”), at the Executive/Plenary session of its Fall National Meeting, adopted revisions to the Standard Valuation Model Law (“Valuation Model”) replacing the existing formula based approach for reserving life insurance policies with a principles based approach. 

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Read More NAIC Moves Towards Principles Based Reserving for Life Insurance

The Massachusetts Joint Committee on Financial Services recently held a hearing regarding H.B. 960 (the “Bill”), which would permit commercial fire policyholders to exclude terrorism from their coverage. …
Read More Massachusetts May Permit Exclusion Of Terrorism From Commercial Fire Policies

In Gard Marine & Energy Ltd ( A company incorporated under the laws of Bermuda) v (1) Lloyd Tunnicliffe (2) Glacier Reinsurance AG (A company incorporated under the laws of Switzerland) (3) Agnew Higgins Pickering & Co Ltd [2009] EWHC 2388 (Comm), the English Commercial Court was asked to consider whether the dispute between Gard and Glacier Re should be heard by the English courts. …
Read More UK: English Court Rules That it Has Jurisdiction to Hear Reinsurance Claim Between a Bermudian Insurer and a Swiss Reinsurer

On 16 October 2009, the Law Commissioner, David Hertzell addressed a meeting of the British Insurance Law Association to highlight some of the key developments on this project. …
Read More UK: Commissioner Highlights Key Future Developments for Insurance Contract Law Reform Project

According to the Provisional Statistics on Hong Kong Insurance Business for 2008 recently published by the Hong Kong Insurance Authority (IA), gross premiums for general insurance business increased by 11.3% to HK$27 billion and net premiums were up 12.3% to HK$19.2 billion, compared with 2007. …

Read More HK: Insurance Market Performance in 2008 and 2009 to Date