In July 2007 the Law Commission published a Consultation Paper that made provisional proposals and asked questions in relation to both business and consumer insurance on the specific issues of misrepresentation, non-disclosure and breach of warranty.  The Law Commission has now published a summary of the responses it received to the Consultation Paper in so far as they relate to the reform of business insurance law. …
Read More UK: Law Commission Publishes Summary of Responses Regarding Reform of Business Insurance Law

Yesterday, the Edwards Angell Palmer & Dodge team of Nick Pearson, Mark Everiss and Nick Stern continued to attend the 2008 AIRROC/Cavell Commutations Event. During the course of the day they held a series of meetings and took part in the later conference activities. …
Read More 2008 AIRROC/Cavell Commutations Event

We have blogged previously on the progress of the Lloyd’s Legislative Reform Order, which will have the effect of amending elements of Lloyd’s constitution, as well as changing the role of Lloyd’s brokers in the marketplace (our most recent post can be found by clicking here). 

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Read More UK: House of Commons Regulatory Reform Committee Reports on the Draft Legislative Reform (Lloyd’s) Order 2008

The Reinsurance Directive was adopted in 2005 and was to be implemented by member states no later than 10 December 2007 (with some provisions coming into force by 10 December 2008). Although a number of member states missed the 2007 deadline, most have now completed their implementation or are expected to do so by December 2008. …
Read More UK: EAPD Publishes Updated Guidance Note on Implementation of the Reinsurance Directive

On 16 October 2008, the Department for Business, Enterprise and Regulatory Reform (BERR) published a consultation document seeking comments in respect of the European Commission’s proposal for the creation of European Private Companies, which was published in June 2008. …
Read More UK/EU: Consultation on EU Proposal to Enable the Creation of European Private Companies

On October 15, 2008, the Oregon Department of Consumer and Business Services (“DCBS”) announced that Scott Kipper is stepping down from his position as the Insurance Division Administrator effective October 31, 2008.  Kipper’s appointment as Administrator began on December 27, 2007, as we reported here. 

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Read More Oregon Insurance Administrator Scott Kipper Steps Down

The United States Court of Appeals for the Fifth Circuit recently rejected an excess insurer’s arguments in favor of temporal and subject matter stacking and affirmed summary judgment dismissing its subrogation claims against certain primary insurers.
Read More Fifth Circuit Rejects Excess Insurer’s Temporal and Subject Matter Stacking Arguments

A Florida federal district court recently held that an appraiser’s finding that an insurer’s settlement of a property claim was too low cannot, by itself, sustain a cause of action for statutory bad faith. 

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Read More Florida Federal Court: Appraiser’s Finding That Insurer’s Calculation of Loss Was Too Low Is Insufficient to Support Statutory Bad Faith Claim

Mark Everiss, Selinda Melnik, Nick Pearson, Mary Pat Cormier and Nick Stern of Edwards Angell Palmer & Dodge attended the second day of the AIRROC/Cavell Commutation & Networking Event 2008. Selinda Melnik and Mary Pat Cormier hosted a very  well attended Women’s Networking Lunch. 

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Read More AIRROC/Cavell Commutation & Networking Event 2008

On October 16, 2008, the Superintendent of the New York State Insurance Department (the “Department”), Eric R. Dinallo, issued Circular Letter No. 20 (2008) (the “Circular Letter”) setting forth “contract certainty” expectations for property/casualty policies and reinsurance contracts. 

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Read More New York Insurance Department Sets Expectations of Contract Certainty for Insurance Policies and Reinsurance Contracts