Judgment in the case of Equitas v R&Q Reinsurance (Brandywine) is expected to be handed down later this month.  In this case, Equitas is attempting to establish R&Q’s liability for a sample of more than 4,000 LMX spiral claims arising out of Kuwait Airways losses during the first Gulf war and the Exxon Valdez oil spill. …
Read More UK: LMX Spiral Claims – Key Judgment Imminent

On 1 October 2009 the Bermuda Monetary Authority (BMA) published three market communications outlining proposals on a variety of developments to its regulatory framework. Initially the proposals are only intended to apply to Class 4 and Class 3B insurers and reinsurers due to their high risk profiles. …
Read More Bermuda: The Bermuda Monetary Authority Publishes Market Communications on its Regulatory Framework

In Secretary of State for Transport v Stagecoach South Western Trains Ltd [2009] EWHC 2431, the High Court decided that a dispute over the method of calculation of future payments under a franchise agreement came within the relevant arbitration clause. 

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Read More UK: Arbitration Clause Covers Disputes About Future Claims

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. 

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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. 

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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). 

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