In September 2008, the New Jersey Legislature enacted Senate Bill 1165 (the “Act”) setting forth standards and procedures with respect to the direct solicitation of consumers regarding annuity products.  The Act is designed to prevent the fraudulent and misleading marketing of annuity products by insurers, brokers and agents, and to provide standards for the disclosure of information about such products to consumers. 

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Read More New Jersey Issues Bulletin Regarding Annuity Form Filing and Suitability Requirements

The Michigan Office of Financial and Insurance Regulation (the “OFIR”) announced last week that it has begun disapproving insurance rate filings made by automobile insurance companies that use insurance credit scoring as a factor in determining premium rates. 

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Read More Michigan Regulators Disapprove Automobile Insurance Rate Filings Based on Insurance Scoring

As part of its ongoing review of insurance contract law, the Law Commission has recently published a policy statement on the passing of pre-contract information from consumer to insurer. 

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Read More UK: Law Commission Publishes Policy Statement on Status of Intermediaries in Consumer Insurance Contract Law

On 11 March the Scottish Parliament voted to pass the Damages (Asbestos-related Conditions) (Scotland) Bill, previously reported here, which is intended to restore the right of claimants in Scotland to obtain compensation for pleural plaques. 

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Read More UK: Compensation for Pleural Plaques in Scotland a Step Closer

Section 83 of this ancient Act gives interested persons the right to demand that insurance money is used to reinstate a building damaged by fire, rather than being paid to the policyholder. 

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Read More UK: Law Commission Publishes Memo on Section 83 of the Fires Prevention (Metropolis) Act 1774

The Supreme Court of Texas recently affirmed summary judgment in favor of an insurer in a declaratory judgment action, holding that the allegations in the underlying complaint against its insured did not fall within the coverage provided by the insurance policy.  Pine Oak Builders, Inc. v. Great American Lloyds Ins. Co., No. 06-0867 (Tex. February 13, 2009). 

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Read More Supreme Court of Texas Strictly Applies Eight-Corners Rule to Coverage Dispute, Declines to Consider Extrinsic Evidence

The Fifth Circuit recently affirmed a District Court decision holding that coverage for subsidiary “corporations” does not ordinarily include limited liability companies.  American Electric Power Company Inc., et al. v. Affiliated FM Insurance Company, No. 07-31061 (5th Cir. Jan. 21, 2009). 

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Read More Fifth Circuit: Coverage for Subsidiary “Corporations” Unambiguously Excludes LLC’s

The U.S. Court of Appeals for the Third Circuit recently held that an insurance carrier properly filed an interpleader complaint against policyholders to determine the distribution of $100,000 in life insurance proceeds.  Prudential Ins. Co. of Am. v. Hovis, et al., — F.3d –, (3d Cir. Jan. 27, 2009). 

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Read More Third Circuit Rules Interpleader Motion by Insurer Proper to Resolve Inheritance Dispute

In (1) James Robert Tucker (2) Jeremy Spratt (Joint Supervisors of Energy Holdings (No 3)(in liquidation) v Gold Fields Mining LLC [2009] EWCA Civ 173 the Joint Supervisors (JS) of a Company Voluntary Arrangement (CVA) appealed against a decision that they had wrongly excluded a claim form on the grounds that it had been out of time. 

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Read More UK: Court of Appeal Considers Time Limits for Submitting Claims in a CVA

The federal district court for the district of New Jersey recently denied an insured’s motion for reconsideration of its prior award of summary judgment in favor of its insurer.  Pine Belt Automotive, Inc. v. Royal Indemnity Co., et al., Civil Action. No. 06-5995 (D.N.J. Feb. 19, 2009). 

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Read More District Court Affirms Summary Judgment for Insurer in Employee Theft Case