On January 7, 2009, the Sixth Circuit Federal Court of Appeals held in that, under Kentucky law, an excess liability insurer must show harm or prejudice as a result of late notice of a claim in order to deny coverage on that ground. 

…
Read More Sixth Circuit: Under Kentucky Law, Excess Insurers Must Show Reasonable Possibility of Substantial Prejudice to Justify Denial of Coverage Based Upon Late Notice

As discussed here, the International Association of Insurance Supervisors (IAIS) recently released its Issues Paper on Group-Wide Solvency Assessment and Supervision, the purpose of which is to serve as a framework for the development of future papers providing guidance on group-wide solvency assessment and supervision on a global scale. 

…
Read More Chile: SVS To Hold First Latin American Conference Concerning IAIS Solvency Project

A recent report by consulting firm Consensus Forecasts predicts that Peru and Chile will experience the greatest economic growth among Latin American countries between now and the end of 2010. 

…
Read More Peru and Chile Expected to Lead Latin America in Economic Growth through 2010

Legislation is under consideration in Connecticut and New Jersey that may significantly expand a claimant’s ability to directly sue an insurer over unfair claims settlement practices. 

…
Read More Legislation Proposed in Connecticut and New Jersey Allows for Direct Action by Claimants for Unfair Claims Settlement Practices

The United States District Court for the District of New Jersey recently dismissed a securities class action complaint as a sanction for conduct by the lead plaintiff and class counsel.  Guy Del Giudice v. S.A.C. Capital Management, LLC, et al., 06-cv-1413 (February 19, 2009). 

…
Read More New Jersey Federal Court Dismisses Securities Class Action Complaint as Sanction for Attorney Misconduct

In a recent decision, the Supreme Judicial Court of Massachusetts ruled that an insurer, in contrast to an insured, cannot obtain attorney’s fees incurred in successfully establishing another insurer’s duty to defend.  John T. Callahan & Sons, Inc. v. Worcester Ins. Co., SJC-10180 (March 19, 2009). 

…
Read More Supreme Judicial Court Refuses to Extend Gamache Fee-Shifting Rule to Insurer Plaintiffs

Last week, Senator John D. Rockefeller IV, (D-W.Va.) introduced the Preexisting Condition Patient Protection Act of 2009 (S. 623) (the “Bill”).  According to Senator Rockefeller, the Bill will address any coverage gaps created in the Health Insurance Portability and Accountability Act of 1996 regarding preexisting condition exclusions by eliminating the use of preexisting condition exclusions in all health insurance markets. 

…
Read More Senate Bill Aims to End the Use of Preexisting Condition Exclusions by Health Insurers

In November 2008 we reported  that the English High Court had ruled that employers’ liability policies, however they are worded, are triggered by exposure to asbestos and not when, many years later, the tumour develops. 

…
Read More UK: Employer’s Liability Trigger Judgment to be Appealed in November 2009

As we previously reported here, the Florida Office of Insurance Regulation recently held a hearing on the use of credit information in insurance ratemaking by insurers. 

…
Read More Florida Chief Financial Officer Alex Sink Opposes the Use of Credit Scoring when Determining Automobile Insurance Rates and Availability