The first Cumbre de Latinoamerica y el Caribe will take place this week outside of Salvador de Bahia, Brazil, with a focus on regional cooperation and integration.  The event will be attended by representatives from the region’s 33 countries and will mark the first time that the leaders of the entire region have come together of their own accord rather than at the initiation of the United States or the European Union. …
Read More Inaugural Latin American and Caribbean Summit to Stress Regional Integration

Four of the companies that have organized under the Puerto Rican International Insurance Center announced recently that they have created an association to promote Puerto Rico’s competitiveness in the international insurance and reinsurance markets. …
Read More Puerto Rican Offshore Insurance Companies Create Association

Despite significant domestic and international concerns, the Argentine government has now made official its elimination of the country’s private pension system.  The Argentine legislature passed Ley 26.425 on November 20, 2008 and President Kirchner signed the law on December 4, 2008, establishing instead an Argentine Integrated Pension System (SIPA) to replace the current capitalization regime as of January 1, 2009. …
Read More Argentina Enacts Law Eliminating Private Pension System

Fitch recently released a report on the Costa Rican Insurance Market, “Sector Seguros de Costa Rica: Solvente y Competitivo Ante la Apertura.”  The report finds that, excluding Panama, Costa Rica is Central America’s largest and fastest-growing insurance market even before it is opened to private competition. 

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Read More Costa Rica Is Central America’s Largest And Fastest-Growing Insurance Market

New York state’s highest court recently held that service on Brazilian defendants in Brazil was effective under New York law even if it did not satisfy Brazilian standards for service of process. 

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Read More New York Court of Appeals Recognizes Personal Jurisdiction Over Brazilian Domiciliaries Served In Brazil Under New York Law

A New York state trial court recently ruled that general contractors/owners were entitled to primary coverage under both their own commercial general liability policy and under a subcontractor’s general commercial liability policy as an additional insured. 

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Read More General Contractor Entitled to Primary Coverage Under Its Own CGL Policy And As An Additional Insured Under Its Subcontractor’s CGL Policy

The United States District Court for the Northern District of California recently denied several commercial general liability insurers’ motions to dismiss, holding that the insurers may be required to defend the makers of Bluetooth Headsets against suits alleging negligent design and unfair marketing even though the suits do not allege that the plaintiffs suffered any physical injuries. …
Read More Insurers May Be Required To Provide Defense Of Bluetooth Headset Cases Even Though Complaints Do Not Allege Physical Injury

In the recent case of Downs v Secretary of State for Environment, Food and Rural Affairs [2008] EWHC 2666 Mr Justice Collins was asked to consider whether the defendant was complying with EC Directive (91/414/EEC) (the Directive) which was implemented in the UK by the Plant Protection Products Regulations 2005. …
Read More UK: High Court’s Decision Regarding Crop Spraying May Open the Way to New Personal Injury Liability

Fitch recently released its annual report on the Nicaraguan insurance market, “Sector Seguros de Nicaragua: Desempeño Semestral y Perspectivas de Corto Plazo.”  Although the report notes that net premiums grew by 14% over the previous year, due in large part to the positive and increasing role of private insurers, it also finds that Nicaragua remains the most inefficient market in Central America due to high operating costs. …
Read More Nicaraguan Insurance Market Continues to Grow Despite Inefficiencies

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