As previously discussed here,  and here, the estate of Amanda Satterfield brought suit against Alcoa for her death from mesothelioma at the age of 25.  The suit alleged that her death was the result of secondhand exposure to asbestos clinging to her father’s work clothes, who was an Alcoa employee. 

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Read More Secondhand Asbestos Lawsuit Settled After Decision by Tennessee Supreme Court

Last month, the Uruguayan government made minimum automobile insurance coverage mandatory for all vehicles.  Nonetheless, insurers are not obligated to sell the mandatory coverage and some 40% of the nation’s automobiles do not have the obligatory minimum coverage. 

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Read More Uruguay: Market Watchful As Implications Of Mandatory Automobile Coverage Remain Unclear

Following a nation-wide search, Michael Bemi, Chair of the Vermont Captive Insurance Association (the “VCIA”) Board of Directors recently announced that the VCIA has selected Richard Smith as the new President of the VCIA. 

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Read More New Vermont Captive Insurance Association President

As President Obama renewed his push for financial services regulatory reform during yesterday’s speech on Wall Street, new reports offered a glimpse of Congress’ potential timeline for action. 

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Read More Anticipated Legislative Action on Financial Regulatory Reform

Yesterday, the New York State Insurance Department (“NYSID”) issued a press release announcing that it will hold public hearing on Wednesday, September 16, regarding life insurance and annuity sales practices.  The hearing is particularly concerned with sales practices as they apply to seniors, and will focus on suitability (i.e. whether a particular product is appropriate for an individual consumer). 

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Read More New York Announces Public Hearing on Life Insurance and Annuity Sales Practices

The decision in Re Scottish Lion Insurance Company Limited [2009] CSOH 127 concerned a preliminary hearing on two specific issues relating to the sanction of a solvent scheme of arrangement proposed by Scottish Lion Insurance Company Limited. A full sanction hearing is scheduled for January 2010. 

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Read More UK: Surprise Decision of the Scottish Outer House of the Court of Session Casts Doubt on Ability of Insurers to Obtain Sanction for solvent schemes of Arrangement

After months of discussion with industry and consumer groups, the New York Insurance Department (the “Department”) released yesterday proposed regulations creating an obligation on the part of insurers to disclose information about producer compensation to purchasers. 

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Read More New Compensation Disclosure Requirements Proposed for New York Insurance Producers

Brazil’s insurance regulator, SUSEP, recently indicated that the timeline for microinsurance legislation has been further extended.  Almost to the day, yet another study was released, this time by the Brazilian economic analysis firm FGV, indicating a vast potential for microinsurance sales in the Brazilian market. 

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Read More Brazilian Market Shows Microinsurance Promise, But Regulation Lags Behind