UK Chancellor of the Exchequer, Alistair Darling, announced in the 2009 Budget measures to address the challenge for businesses as a result of the reduction of trade credit insurance (see our previous blog on recently published guidance governing the trade credit insurance industry by clicking here). 

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Read More UK: Chancellor Announces a ‘Top-Up’ Trade Credit Scheme in April 2009 Budget

On February 12, 2009, House Representative Henry “Hank” Johnson (D-GA) re-introduced legislation relating to the Federal Arbitration Act, which is now called the Arbitration Fairness Act of 2009.  In June 2008, we first reported on the initial introduction of this legislation, the Arbitration Fairness Act of 2007 (click here for previous post). …
Read More Proposed Senate Bill Seeks to Enact Significant Changes in Arbitration

The United States Supreme Court will review a decision by the United States Court of Appeals for the Seventh Circuit rejecting the so-called Gartenberg test, which looks to the “reasonableness” of advisory fees charged by investment advisors. …
Read More United States Supreme Court to Consider Challenge To Gartenberg Test Governing Allegedly Excessive Advisory Fees

The Superior Court of Delaware recently held that a D&O insurer failed to timely respond to it insured’s reimbursement requests and must therefore provide reimbursement for prior legal defense costs and advance future defense costs within sixty days of receipt of invoices. …
Read More Delaware State Court: D&O Insurer Waived its Right to Hearing on Reasonableness of Insured’s Reimbursement Requests

In an insurance coverage action filed recently in the U.S. District Court for the Eastern District of North Carolina, an insured seeks an order directing its D&O insurer to pay defense costs and indemnify it, if it is found liable, in an action brought by a former director. 

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Read More North Carolina Federal Court: Insured Asks Federal Court to Rule on Whether D&O Insurer Should Cover Its Defense Costs and Indemnification in Suit by Former Director

In the Matter of Trader Pro LLC v. Pires, No. 012334/09 (N.Y. Sup. Ct., Apr. 16, 2009), the Petitioners moved for an order pursuant to CPLR 3102[c] for the issuance of pre-arbitration subpoenas to the Respondents, in order to determine the identity of other potential parties for an arbitration that Petitioners intended to commence. …
Read More New York State Court Orders Pre-Arbitration Discovery in Aid of Contemplated Arbitration

According to a recently published report by Fitch Ratings Centroamerica, the Nicaraguan insurance market, which is primarily based on automobile and life insurance, significantly improved its operating performance and accident rates in 2008. 

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Read More Fitch Report: Nicaraguan Insurance Market Grows 17%

Mergers and acquisitions (M&As) and joint ventures (JVs) both represent mechanisms for consolidation within the insurance market and new entry into that market. A number of issues involved in consolidation as well as issues relevant to new entrants in the insurance industry, principally in Hong Kong, are considered in this booklet. …
Read More Doing Business in Hong Kong – Issues in Insurance Mergers Acquisitions and Joint Venture