The House Financial Services Committee is set to begin consideration of several bills that are key to achieving financial regulatory reform.  Financial Services Chairman Barney Frank (D-MA) will convene a full committee markup on October 14, and is prepared for the session to span the course of multiple days, if necessary. …
Read More Financial Regulatory Reform Update

The High Court’s decision in R&R Development Ltd v AXA Insurance UK Plc [2009] EWHC 2424 (Ch) concerned the issue of whether ambiguous questions in a proposal form for a contract of insurance could be construed by following the Contra Proferentem principle without the need for the court to decide upon the correct interpretation of the questions. 

…
Read More UK: Contra Proferentem Principle Applies to Ambiguous Questions in Proposal Form

The Association of Insurance and Reinsurance Run-Off Companies (“AIRROC”) has announced the formal launch of the Dispute Resolution Procedure (“DRP”), an expedited binding arbitration procedure especially designed for small and less-complicated claims. …
Read More AIRROC Launches Expedited Binding Arbitration Procedure for Small Claims

The Insurance and Reinsurance Department of Edwards Angell Palmer & Dodge invites you to join them for “Up Against A Chinese Drywall:  Recent Developments in the Ongoing Products Liability and Coverage Litigation” – a complimentary 60 minute webinar to be held Tuesday, October 27, 2009 at 12:00pm EDT / 4:00pm GMT. 

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

In our previous blogs on the Payment Protection Insurance (PPI) market, we discussed the Competition Commission’s Final Report published on 29 January 2009 (see our blog here) and the Financial Services Authority’s (FSA) response (see our blog here). 

…
Read More UK: FSA Unveils a Package to Protect Payment Protection Insurance Consumers

The Connecticut Appellate Court recently affirmed a lower court’s grant of summary judgment in favor of an insurer based on its determination that the insured breached the insurance policy’s cooperation clause by failing to provide copies of requested tax returns. 

…
Read More Connecticut Appellate Court Affirms Summary Judgment In Favor of Insurer Due to Insured’s Failure to Cooperate

Willis recently completed the purchase of the remaining shares in its Argentinean units, Herzfeld Willis SA and Willis SA.  Eugenia Paschoal, CEO of Willis Latin America reportedly commented that “We have taken full ownership of Willis Argentina because we see excellent growth prospects in this country and are committed to becoming the leading broker there. 

…
Read More Willis Demonstrates Confidence in Future of Argentina, Latin America

Congratulations to Ted Augustinos, partner of EAPD’s Insurance and Reinsurance Department, who was elected to serve on the Board of Directors of the American Bankers Insurance Association (ABIA).  Elections occurred at the ABIA annual meeting this week in Washington, DC. …
Read More EAPD Insurance Partner Ted Augustinos Elected to American Bankers Insurance Association Board of Directors

The European Commission announced on 23 September 2009 the adoption of legislative proposals to strengthen financial supervision in Europe in the wake of the global financial crisis. 

…
Read More EU: European Commission Pushes Ahead with Stronger Financial Supervision in Europe