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

Physicians, hospitals and other healthcare providers may not be aware that the federal Red Flag Rules, 16 C.F.R. § 681, may apply to them. The Rules, which become effective on May 1, 2009, require covered entities to formally address the risks of identity theft and develop a plan to prevent such risks. 

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Read More New “Red Flag” Identity Theft Rules Apply to Healthcare Providers

On 24 October 2007, Michael Bright, the former chief executive of Independent Insurance Company, was convicted by jury trial of two charges of conspiracy to defraud. Former deputy managing director, Philip Condon, was found guilty on one count of fraud but was cleared on another, while the ex-finance director, Dennis Lomas, was found guilty of two fraud offences. 

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Read More A Former Independent Insurance Director is Ordered to Pay £1.28 Million or Face Further Imprisonment

In the Biennial report of the Texas Department of Insurance (the “TDI”) to the 81st Texas Legislature, a recommendation was submitted to create an unauthorized insurance guaranty fund. …
Read More Texas Department of Insurance Recommends Unauthorized Insurance Guaranty Fund

Despite its settlement with regulators, two new Auction Rate Securities (“ARS”) suits have recently been filed against Merrill Lynch.  Unlike the suit against UBS filed last November by investors alleging the regulatory settlements would not provide them with suitable relief  (see here), these suits are brought by investors who do not qualify for payments from the regulatory settlements. 

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Read More Merrill Lynch Auction Rate Securities Suits Continue Despite Regulatory Settlements