A preliminary inquiry is being undertaken into the operations of AIGFP in the UK. AIGFP is a  non insurance subsidiary of AIG and investigations will not touch upon the insurance operations of AIG in the UK or elsewhere. …
Read More The Serious Fraud Office (SFO) and the Financial Services Authority (FSA) Launches a Preliminary Inquiry into the UK Operations of AIG Financial Products Corporation (AIGFP)

In a recent interview, New York State Insurance Department Superintendent and returning chairman of the National Association of Insurance Commissioner’s (“NAIC”) Life Insurance and Annuities Committee Eric R. Dinallo stated that in light of the current economic crisis he will be reevaluating NAIC’s regulations with respect to variable annuities. 

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Read More New York Superintendent Eric Dinallo Discusses NAIC’s Variable Annuity Regulations

The Pan European Insurance Forum (PEIF) issued a paper on 12 February 2009 giving its regulatory recommendations for the insurance industry in the wake of the economic downturn. The PEIF is a group of CEOs of major European insurance companies such as Aegon, Allianz, Aviva, AXA, Generali, ING, Mapfre, Munich Re, RSA, Swiss Re, Uniqa and Zurich Financial Services. In this paper, the PEIF considers the impact on the European insurance industry and makes policy recommendations to combat the crisis. 

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Read More Europe: PEIF Issues Paper on Regulatory Consequences of the Economic Crisis

The Professional Liability Underwriting Society (PLUS) is hosting its popular D&O Symposium today and tomorrow in New York.  Edwards Angell Palmer & Dodge attorneys will provide live updates throughout the conference here on www.InsureReinsure.com. …
Read More InsureReinsure.com to Live Blog from PLUS Annual D&O Symposium in New York

Huntington Hospital (“Huntington”) sued defendant New England Insurance Company (“New England”) for breach of contract after New England denied Huntington’s claim for coverage under an excess insurance policy issued by New England. 

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Read More Second Circuit Affirms Decision Granting Excess Insurer Summary Judgment Due to Insured’s Late Notice

The Privacy Group at Edwards Angell Palmer & Dodge LLP invites you to a complimentary webinar on the new security and privacy requirements and federal Red Flag duties which are both effective May 1, 2009. 

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Read More FREE WEBINAR TODAY on New Federal Red Flag, Massachusetts and Other State Data Security Rules

To carry on any class of insurance business in or from Hong Kong, companies must be authorised under section 8 of the Insurance Companies Ordinance.  In order to be authorised, insurers must meet certain statutory conditions and satisfy certain guidelines issued by the Insurance Authority (IA). 

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Read More Doing Business in Hong Kong – Authorisation of Insurers in Hong Kong

The Court of Appeal has awarded victory to the Financial Services Authority (FSA) in a case against solicitors Fox Hayes regarding the approval of financial promotions on behalf of others. The FSA was appealing a decision of the Financial Services and Markets Tribunal which overturned an FSA decision notice fining the Leeds-based firm £150,000 for approving financial promotions from unauthorised overseas companies. 

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Read More UK: FSA Wins Appeal Against Fox Hayes for Breach of Financial Promotions Regime