The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has confirmed that it is reviewing the Solvency II supervisory framework project in light of the recent turmoil in financial markets. …
Read More EU: CEIOPS Begins Review of Solvency II Implementation in Light of Financial Crisis

In September, the Board of Governors of the Federal Reserve System (the “Fed”) released its Policy Statement on Equity Investments in Banks and Bank Holding Companies (the “Policy Statement”). 

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Read More Encouraging Private Equity Investing in the Banking Sector

In Improv West Associates, et al. v. Comedy Club, Inc., 514 F.3d 833 (9th Cir. 2007), the U.S. Court of Appeals for the Ninth Circuit vacated an arbitration award on the basis that the arbitrator’s refusal to abide by well-established California law in rendering its decision was in manifest disregard of the law. 

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Read More U.S. Supreme Court Vacates Court of Appeals’ Decision Applying Manifest Disregard of the Law Standard to Arbitration Award, Remands for Consideration in Light of Hall Street

Rather than remembering to check our blog every day for the latest news and developments in insurance and reinsurance, why not register for our daily email update and receive our latest posts directly in your Inbox?  Each weekday by 9:30 a.m. Eastern U.S. time, we send out an email listing the topics about which we wrote the previous day. 

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Read More Take The Easy Way Out–Subscribe To Our Daily Email Update

The Statutory Accounting Principles Working Group of the National Association of Insurance Commissioners (“NAIC”) recently issued a proposal (the “Proposal”) to enhance the disclosure of positions held in credit derivatives, hybrid instruments that have embedded credit derivatives, and certain guarantees in the financial statements filed by insurers. 

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Read More NAIC Proposes Insurer Disclosure of Positions Held in Credit Derivatives and Certain Guarantees

In a recent decision of the United States Court of Appeals for the Eighth Circuit, the court reversed a ruling against a D&O insurer in a coverage action arising from a bankruptcy case. 

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Read More Eighth Circuit: No Extrinsic Evidence Should Be Admitted to Qualify Unambiguous Exclusion

In a recent decision of the United States District Court for the Western District of Missouri, the court held that a reinsurer was required to follow the settlements of its cedent, finding that the treaty contained language sufficient to be deemed a “follow-the-settlements” provision. 

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Read More Court Rules that Reinsurer Must Follow The Settlements of Cedent

In a recent decision, the Massachusetts Superior Court held that reinsurance communications were not discoverable in a declaratory judgment action involving environmental claims. …
Read More Massachusetts Court Denies Request for Discovery of Reinsurance Communications