Paul Taylor, the head of run-off supervision for insurance firms at the FSA, recently reiterated to the run-off sector that the FSA will object to solvent schemes of arrangement unless policyholders would be at least “no worse off” than in an ordinary solvent run-off. Although the FSA’s approval is not formally required for a scheme of arrangement to be implemented, it does have the power to object to a proposed scheme.
Read More UK: FSA Says Solvent Schemes Must Leave Policyholders “No Worse Off”
Florida Introduces Legislation to Exempt Surplus Lines Insurers from Form Filing Requirements
By Troutman Pepper Locke on
Companion legislation has been introduced in the Florida House of Representatives and Senate to exempt surplus lines insurers from the provisions of Chapter 627, except when specifically stated otherwise, which contains Florida’s rate and form filing statutes.
LIVE PLUS UPDATE: International D&O: Solutions, Not Questions
By Troutman Pepper Locke on
Thursday’s third session addressed the D&O risks and insurance issues that globalization poses for U.S. corporations doing business through subsidiaries abroad. The Panel discussed the issues to keep in mind when placing D&O insurance for a global corporation and its foreign subsidiaries.
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Read More LIVE PLUS UPDATE: International D&O: Solutions, Not Questions
LIVE PLUS UPDATE: What’s Wrong With the Claims Process?
By Troutman Pepper Locke on
Posted in D&O Liability
This morning, there was a panel discussion entitled “What’s Wrong With the Claims Process?” The panel discussed some of the major sources of dissatisfaction and discontent in the D&O claims handling process.
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Read More LIVE PLUS UPDATE: What’s Wrong With the Claims Process?
LIVE PLUS UPDATE: Talking to the Board in a Time of Uncertainty
By Troutman Pepper Locke on
Posted in D&O Liability
Thursday’s second morning session focused on the changing corporate environment in America and included advice to corporate officer’s and directors regarding how to adapt to this changing environment. …
Read More LIVE PLUS UPDATE: Talking to the Board in a Time of Uncertainty
Banks Commit to Clearing House for European Credit Default Swaps
We have reported previously on moves in the United States to regulate the credit default swaps (CDS) market (our most recent post can be found by clicking here. …
Read More Banks Commit to Clearing House for European Credit Default Swaps
LIVE PLUS UPDATE: So, What’s Next? Emerging D&O Liability Trends
By Troutman Pepper Locke on
Posted in D&O Liability
Yesterday’s second afternoon session at the PLUS D&O Symposium focused on emerging liabilities for corporate executives. …
Read More LIVE PLUS UPDATE: So, What’s Next? Emerging D&O Liability Trends
Climate Change as a Risk Facing Insurers Drops in Importance
By Troutman Pepper Locke on
Posted in Climate Change
The financial crisis has transformed the risk landscape for insurers and their focus on key risks. A recently published survey conducted by the Center for the Study of Financial Innovation in association with PriceWaterhouseCoopers indicates that climate change is “[l]osing its urgency as an insurance risk.” …
Read More Climate Change as a Risk Facing Insurers Drops in Importance
LIVE PLUS UPDATE: Bailouts, Bankruptcy and D&O Underwriting
By Troutman Pepper Locke on
Posted in D&O Liability, United States
Following a break for lunch during which keynote speaker Madeleine Albright addressed all of us, the first afternoon session addressed bailouts, bankruptcies and D&O underwriting. …
Read More LIVE PLUS UPDATE: Bailouts, Bankruptcy and D&O Underwriting
LIVE PLUS UPDATE: D&O Claims: What Really Matters?
By Troutman Pepper Locke on
Posted in D&O Liability, United States
The second session of the PLUS D&O Symposium involved a broad discussion of D&O coverage disputes. …
Read More LIVE PLUS UPDATE: D&O Claims: What Really Matters?