An insurer represented by Edwards Angell Palmer & Dodge attorneys John Hughes and Julia Ulrich was recently granted summary judgment by the Connecticut Superior Court in a lawsuit involving a claim for uninsured motorist coverage, and also alleging common law and statutory bad faith against the insurer.
Connecticut Federal Court Awards Summary Judgment in Favor of Insurer Due to Insured’s Failure to Cooperate
By Troutman Pepper Locke on
A Connecticut district court recently awarded summary judgment in favor of an insurance company due to the insured’s failure to cooperate in the insurer’s investigation of a claim.
Public Hearing on Massachusetts Information Security Regulations
On September 22, 2009, Socheth Sor of Edwards Angell Palmer & Dodge LLP testified at a public hearing before the Massachusetts Office of Consumer Affairs and Business Regulation (“OCABR”) in Boston regarding 201 CMR 17.00, Standards for the Protection of Personal Information of Residents of the Commonwealth (the “Regulations”).
…
Read More Public Hearing on Massachusetts Information Security Regulations
Democrats Agree to Scale Back Emerging Financial Regulatory Reform Bill
By Troutman Pepper Locke on
Posted in Federal Legislative Developments, United States
In an attempt to win broader support for emerging legislation to reform the financial industry, House Financial Services Committee Chairman Barney Frank (D-MA) moved to change one of the proposal’s more controversial provisions – the creation of a Consumer Financial Protection Agency (CFPA). …
Read More Democrats Agree to Scale Back Emerging Financial Regulatory Reform Bill
California Appellate Court Applies Government Contractor Immunity Defense to Boilers on Naval Vessels in Asbestos-Related Decision
By Troutman Pepper Locke on
Earlier this month, a California appellate court held that the government contractor immunity defense applies to a boiler manufactured to United States Navy specifications, shielding the manufacturer from a design defect claim. …
Read More California Appellate Court Applies Government Contractor Immunity Defense to Boilers on Naval Vessels in Asbestos-Related Decision
Report from the NAIC Fall Meeting – Vice President Biden Addresses State insurance Commissioners on Healthcare Reform
Vice President Joseph Biden spoke yesterday at the NAIC Fall meeting taking place near Washington DC, and he used the opportunity to seek the support of state insurance commissioners for the Government’s proposals for national healthcare reform.…
Client Advisory – Mandatory September 30, 2009 Registration Deadline Approaches for Insurers Subject to New Medicare Reporting Requirements
By Troutman Pepper Locke on
The Medicare, Medicaid, and SCHIP Extension Act of 2007 (S. 2499) (the “Act”), signed into law on December 29, 2007, contains a new mandatory reporting requirement for insurers covering medical expenses. This advisory focuses on liability insurers, no-fault insurers, and workers’ compensation insurers.
Mexican Regulator Reminds Market that Purchase of Foreign Insurance from within Mexico is Illegal, with Possible Punishment Including Fines and Jail Time
By Troutman Pepper Locke on
Posted in Latin American Developments
Eduardo Iturriaga, Director General of Mexico’s insurance regulator, the Comision Nacional de Seguros y Fianzas, recently reminded the market that purchasing foreign insurance from within Mexico is both a violation of the insurance law and a criminal offense that can carry penalties of a fine between 200 and 2,000 days of salary and a prison sentence of between 3 and 10 years. …
Read More Mexican Regulator Reminds Market that Purchase of Foreign Insurance from within Mexico is Illegal, with Possible Punishment Including Fines and Jail Time
Nicaragua: Regulator Presents New Draft Insurance Law to Open Market to Foreign Insurance Companies
By Troutman Pepper Locke on
Posted in Latin American Developments
The Superintendent of Nicaragua’s financial services regulator, Victor Urcuyo, recently met with the Economic Committee of the National Assembly to present a proposal for a new insurance law that would allow foreign insurance companies to establish local branches in the country.
Fantasy Sports Insurance
By Troutman Pepper Locke on
Posted in Industry Developments, United States
Did you pick Tom Brady to march your fantasy team to victory last year? Did you squander your first round draft pick on Priest Holmes back in 2005? Those key players suffered season ending injuries. If you selected them, you may have found yourself out of luck and had your league championship dreams dashed. That is, unless you were able to take advantage of fantasy sports insurance.