The Medicare, Medicaid, and SCHIP Extension Act of 2007 (S. 2499) (the “Act”), signed into law late last year, contains a new mandatory reporting requirement for insurers covering medical expenses. 

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Read More New Medicare Reporting Requirement for Non-Group Health Plan Providers Effective July 1, 2009

The heirs of the victim of a 1996 terrorist attack in Israel who, in an earlier federal court proceeding, were recently awarded a judgment against Hamas for over $100 million for damages suffered as a result of the terrorist attack, recently filed a Petition seeking to satisfy the outstanding judgment from funds in a Hamas bank account in the New York branch of an Egyptian bank. 

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Read More Heirs of Terror Victim Seek to Satisfy Outstanding Judgment Against Hamas Using TRIA

Amafore, the Mexican pension fund industry association, announced recently that all Mexican pension fund managers (Afores) have agreed to invest only in local instruments in the coming year in an attempt to help ameliorate the ongoing deterioration of the country’s economy. 

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Read More Mexico: Pension Funds Agree to Invest Only in Mexican Instruments

Edwards Angell Palmer & Dodge, LLP recently obtained a decision from the U.S. District Court for the Eastern District of New York granting the motion of its clients, American United Life Insurance Company, Inc. (“AUL”) and R.E. Moulton, Inc. (“REM”), to dismiss a third-party action against them in favor of arbitration. 

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Read More Court Dismisses Third Party Action in Favor of Arbitration

Jorge Claude, General Manager of the Association of Chilean Insurers, recently states that the organization expects results to improve in 2009 over 2008, based primarily on the expectation that it is unlikely Chile will see another economic collapse such as that seen in 2008. 

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Read More Chilean Insurers Predict Improved Results in 2009 Despite Likely Slower Growth

The Connecticut Supreme Court, deciding an issue of first impression in that state, recently held that coverage for bodily injury to others inflicted during an incident of self-defense by an insured constitutes an “occurrence,” and is not excluded by an intentional injury exclusion in a liability policy. 

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Read More Connecticut Supreme Court: Bodily Injuries Caused By Acts of Self-Defense Are “Accidental,” Not “Expected or Intended,” Within the Meaning of an Intentional Injury Exclusion In a Liability Insurance Policy

Edwards Angell Palmer & Dodge, LLP recently obtained a decision and order from the Supreme Court of the State of New York, New York County, granting its client Select Insurance Company’s motion for summary judgment, dismissing the complaint of the hedge fund insured. 

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Read More Hedge Fund Not Entitled to Reimbursement of Defense Costs Under Mutual Fund and Directors and Officers Errors and Omissions Liability Insurance Policy

Legislation has been introduced into the Texas House of Representatives and Senate that would return the state to a prior approval system for rates for personal automobile and residential property insurance policies. 

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Read More Texas Proposes Prior Approval Legislation for Personal Lines Rates

On March 17, 2009, the National Association of Insurance Commissioners (“NAIC”) adopted a reporting requirement mandating that insurance companies disclose financial risks posed by climate change and the actions taken by such insurance companies to respond to such risks. 

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Read More NAIC Adopts Climate Change Risk Disclosure Requirement

A report entitled “2008: Seeking Relief” recently released by Navigant Consulting, Inc. states that 576 federal lawsuits centered around the subprime credit crisis were filed in 2008, nearly double the amount filed in 2007. 

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Read More Navigant Report Finds Nearly Twice as Many Subprime-Related Lawsuits Filed in 2008 as 2007