We reported last week on the publication of the de Larosière Report on financial supervision in the EU (you can see that post by clicking here). The European Commission has now published its own proposals for radical reform of the regulatory and supervisory regime in Europe. 

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Read More European Commission Responds to de Larosière Report

As we discussed here, the United States Supreme Court last week ruled that state law claims for failure to include an adequate warning on a pharmaceutical label are not preempted by the federal Food and Drug Administration’s (“FDA”) prior approval of the product’s label. 

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Read More Wyeth v. Levine: Further Analysis of Risk Management Implications

The UK Treasury Department has published a summary of the responses to its joint consultation with the Financial Services Authority (FSA) on the implementation of the Acquisitions Directive (2007/44/EC). 

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Read More UK/EU: UK Government Publishes Responses to Implementation of Acquisitions Directive

John Hughes and Machua Millett of EAPD have recently released an updated version of their whitepaper entitled Venture Capital, Private Equity and Hedge Funds: Structure and Risk Exposures.  The whitepaper leads the reader through the structure and characteristics of venture capital, private equity and hedge funds, presents the latest market trends in these areas and then discusses the risk exposures for such funds and related entities. 

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Read More Updated Whitepaper: Venture Capital, Private Equity and Hedge Funds: Structure and Risk Exposures

The Superior Court of New Jersey, Appellate Division recently held that an insured that had received asbestos claims against it prior to the time it applied for an excess insurance policy was not precluded by the known loss or loss in progress doctrines from receiving coverage for subsequent asbestos-related claims. 

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Read More New Jersey Appellate Court Weighs in on Coverage of Asbestos Claims, Known Loss and Loss in Progress Doctrines

According to a recent article in El Financiero, large companies are waiting expectantly for the introduction of insurance alternatives in the Costa Rican market. 

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Read More Costa Rica: Large Companies Look Forward to Alternatives in the Newly-Opened Insurance Market

Where a policyholder has deliberately damaged his own property, any insurance he has taken out over that property will not cover such damage, unless the policyholder can prove that he was legally insane at the time. The test of insanity is the same as is used in the criminal law.

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Read More UK: Court Rules on Deliberate Damage by Policyholder – Porter v Zurich

The First Circuit recently affirmed summary judgment granted to an insurer who had denied coverage to its insured, despite the insured’s allegation that there was a “possibility of coverage” under the complaint. 

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Read More Post-Hoc Speculation Not Enough to Create “Possibility” of Coverage in Underlying Suit