The United States Circuit Court of Appeals for the Eleventh Circuit has asked the Florida Supreme Court to decide if liability insurance policies cover damages for violations of a federal law prohibiting the transmission of unsolicited advertisements by facsimile. …
Read More 11th Circuit Asks Florida Supreme Court to Decide Whether Liability Policy Covers Injury Caused by Faxing Unsolicited Advertisements

As reported in our previous blog posts here and here, Congress has for some time been considering an Optional Federal Charter that would allow insurance companies to choose between state and federal regulation.  As an outgrowth of this concept and in light of the recent the federal bailout of insurance giant America International Group, Congress is now considering expanding the power of the Federal Deposit Insurance Corp. (“FDIC”) to cover insurance companies. …
Read More FDIC Chairman Indicates that FDIC’s Powers Could Extend to Insurers

The Dominican Republic’s second-largest insurance broker, First Insurance Group, intends to expand its operations into the mainland United States under its new name, Fulcro Insurance.  According to the company’s founder and president, Ramon Perez, Fulcro intends to establish a presence in the state of Georgia by the end of the year through either acquisition or establishment of a new entity. 

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Read More Dominican Republic Insurance Broker Looks To Expand Into Mainland United States

Edwards Angell Palmer & Dodge LLP has recently drafted two Client Advisories related to Massachusetts data security requirements.  Click here and here to view the Advisories.  They describe new requirements imposed by Massachusetts to be effective May 1, 2009 mandating procedures to be put into effect to protect personal information

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Read More Urgent Information on Security Policies for Companies with Employee, Customer or Other Relationships with Massachusetts Residents

On Friday 21 November the High Court is expected to publish its keenly awaited decision in the asbestos employers’ liability “trigger” test cases, which will decide which employers’ liability policies should respond to asbestos claims. 

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Read More UK: Asbestos Trigger Judgment Expected as Public Warned of the “Hidden Killer”

The High Court decision in Alberta v Katanga dealt with two separate questions that are of interest. The first regards allocation of jurisdiction where the defendant is domiciled in an EU member state. It concerns the meaning of a company’s “central administration” under the EC Regulation that determines which European Union member state’s court has jurisdiction to hear a dispute, Council Regulation (EC) No. 44/2001 (Regulation). 

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Read More UK: Alberta v Katanga – Jurisdiction and Service Out of Jurisdiction

According to reports, Goldman Sachs recently agreed to pay $100.5 million to policyholders of the now defunct General American Life Insurance to settle a pending lawsuit brought by General American in which it alleged that Goldman Sachs provided bad advice to the company.  Other defendants named in the suit previously settled with General American. …

Read More Goldman Sachs to Pay $100.5 million to Policyholders of General American Life Insurance

On the same day that it released a report indicating that insurance premiums should experience double-digit growth through 2010, Brazilian insurance regulator SUSEP announced the suspension of 10 of the nation’s 30 reinsurance brokers. …
Read More Brazil Regulatory Update: SUSEP Expects Double-Digit Premium Growth Through 2010, Suspends 10 Reinsurance Brokers

A Florida appeals court recently ruled that while a state statute provides for the award of “reasonably foreseeable” damages resulting from insurer bad faith, a jury is not free to award such damages without any supporting evidence. …
Read More Florida State Appeals Court Reverses Jury Award of Bad Faith Damages