A New York based radiology practice (the “Plaintiff”) filed an action in the United States District Court for the Eastern District of New York against a benefits administration firm, CareCore National, LLC, that provides services for insurers including Aetna, GHI, HIP, Healthnet, Healthfirst, and Oxford. 

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Read More New York Radiology Practice Sues Health Care Benefits Administration Firm Contracted With Major Health Care Insurers Alleging Antitrust Violations

In the June edition of Insurance and Reinsurance Review, we reported on the current status of implementation of the Reinsurance Directive across the European Union (the article can be found here. At the time, we reported that Portugal had not yet commenced its public consultation. That consultation has now been commenced, and is open until 8 July 2008. 

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Read More EU: Portugal Consults on the Implementation of the Reinsurance Directive

BIBA has formally responded to the FSA’s DP on transparency, disclosure and conflicts of interest in the commercial insurance market (See: BIBA press release). 

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Read More UK: The British Insurance Brokers’ Association (BIBA) Has Responded to the FSA’s Discussion Paper (DP) on Transparency

For the second time in just over a year, both houses of the New York Legislature passed a bill that would reverse New York’s longstanding “no-prejudice” rule.  Senate Bill 8610 and Assembly Bill 11541 (the “Bill”) prohibits insurers from denying a claim based on late notice unless the insurer can show that it was prejudiced by the untimely notice. …
Read More NY Legislature Passes Late Notice Bill Reversing Longstanding “No-Prejudice” Rule

The Scottish Government published a Bill on 23 June that, if enacted, will overrule the decision of the House of Lords in October 2007 that pleural plaques do not give rise to a cause of action such that claimants can recover compensation. …
Read More UK: Scottish Government Acts to Restore Compensation for Pleural Plaques

One of Connecticut’s wealthiest families has recently brought an attachment suit against UBS AG, UBS Securities, LLC and UBS Financial Services, Inc. in an effort to require UBS to set aside $150 million to cover a potential reward in an ongoing FINRA arbitration concerning auction rate securities “ARS”). 

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Read More Connecticut Attachment Suit Provides Insight Into Auction Rate Securities Claims

The United States District Court for the District of Massachusetts recently granted a motion to dismiss a “demand excused” shareholder derivative suit on the basis that the suit was mooted by the plaintiffs’ subsequent demand letter. …
Read More Massachusetts Federal Court: Subsequent Demand Moots Demand-Excused Derivative Suit

Connecticut Governor M. Jodi Rell recently vetoed House Bill 5536, An Act Establishing the Connecticut Healthcare Partnership (the “Bill”), which is intended to achieve savings for Connecticut municipalities, nonprofit groups and small employers with 50 employees or less by allowing them to join the current state employees’ health insurance program. 

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Read More Connecticut Governor Vetoes Bill Establishing the Connecticut Healthcare Partnership

In a report published by the Treasury Select Committee on 19 June 2008, the UK City watchdog, the Financial Services Authority (FSA), was heavily criticised for not providing a “robust enough framework” to manage the conflicts of interest inherent in proprietary life funds. …
Read More UK: FSA Heavily Criticised by Government Committee for Lack of Protection for Life Fund Policies

The U.S. First Circuit Court of Appeals recently certified to the Massachusetts Supreme Judicial Court critical questions regarding allocation of loss to multiple insurers for long-term environmental contamination. …
Read More First Circuit Federal Appeals Court Certifies Important Allocation Questions to Massachusetts Supreme Judicial Court