The Connecticut Insurance Department issued an Order for Default Judgment (the “Order”) and a $5.9 million fine against a marketer of hole-in-one golf contests for engaging in the business of insurance without a license, falsely representing that it is authorized to engage in the business of insurance, and engaging in various unfair insurance practices. …
Read More Hole-in-One Golf Marketer Fined $5.9 Million for Operating an Insurance Company Illegally

On January 21, 2009, John P. Dearie, Jr. and M. Machua Millett of Edwards Angell Palmer & Dodge LLP’s insurance and reinsurance department presented a webinar on recent developments in the Latin American (re)insurance markets.  The webinar and the supporting whitepaper are now available free online. …
Read More Free Latin America Webinar And Whitepaper Now Available Online

As expected, reports indicate that the people have Bolivia have approved the new constitution proposed by President Evo Morales, though by a smaller margin than some had expected.  The new constitution is designed to provide the nation’s indigenous populations a greater role in the country’s political and economic systems by giving the central government greater involvement in the economy, particularly in the areas of natural resources and distribution of land and wealth. 

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Read More Bolivia Approves New Constitution, Increasing Nationalization Concerns

A California federal court recently held that the consent provision in an insurance policy obligates the insured to notify the insurer and obtain its consent before settling, offering to settle or otherwise incurring a contractual obligation. 

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Read More Insurer’s Denial of Indemnification of Insured’s Settlement with Claimants Upheld Where Insured Settled Without Insurer’s Consent

The Boston Globe has reported that the Attorney General for the Commonwealth of Massachusetts, Martha Coakley, has launched an investigation into Blue Cross Blue Shield of Massachusetts and Partners HealthCare.  Partners HealthCare owns several Massachusetts hospitals, including Massachusetts General Hospital and Brigham and Women’s Hospital. …
Read More Massachusetts Attorney General Investigates Health Insurer and Provider

The United States District Court for the District of Massachusetts recently held that delivery of a policy is not a prerequisite to the enforcement of its terms unless a policy so explicitly states.  The court also held that an insurer can deny coverage for the failure to satisfy “claims made and reported” policy prerequisites without first investigating the claim. 

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Read More Delivery of a Policy is not a Prerequisite to the Enforcement of its Terms; Insurer Can Deny Coverage Based on “Claims Made and Reported” Prerequisites Without First Investigating the Claim

The Missouri Court of Appeals, Eastern District recently held that a nurse’s professional liability insurer was not liable for contribution to her employer’s professional liability insurer after the latter settled a wrongful death claim involving the nurse. 

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Read More Missouri Court of Appeals Finds No Right of Equitable Contribution Based on Other Insurance Clauses

The Washington Supreme Court recently held that a cause of action for bad faith claims handling is not dependant on whether the insurer breached its duty to defend, settle, or indemnify, either in the third-party context under the common law, or under the Washington Consumer Protection Act (“CPA”). 

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Read More Washington Supreme Court Holds that Procedural Bad Faith Claims Are Not Dependant on an Insurer Breaching its Duty to Defend, Settle, or Indemnify

On January 20, 2009, Maiden Holdings, Ltd. (“Maiden Holdings”), a Bermuda based holding company, completed a private placement of trust preferred securities with a face amount of $260MM through Maiden Holdings North America, Ltd. (“Maiden NA”), wholly-owned subsidiary of Maiden Holdings. 

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Read More Maiden Holdings Completes Private Placement of Trust Preferred Securities

In John Foster Emmott (Emmott) v. Michael Wilson & Partners Limited (MWP) [2009] EWHC 1 (Comm) the Court had to consider two applications brought by Emmott pursuant to the Arbitration Act 1996 (AA): (1) for an order requiring MWP to comply with a peremptory order (an order to do something within a particular time period) made by an arbitration tribunal (section 42 AA); (2) for a freezing order (section 44 AA). 

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Read More UK: Court Considers its Supervisory Powers Over Arbitration