From time to time, we are asked about the prevalence of arbitration over litigation as a forum for resolving reinsurance disputes.  Vince Vitkowsky recently conducted a survey of the attorneys at Edwards Angell Palmer & Dodge, LLP,  in both the US and England, as to to their experience. 

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Read More Reinsurance Arbitration Predominates

The recent decision in the staged trial of the conjoined actions of Standard Life Assurance Ltd v Oak Dedicated and others and Standard Life Assurance Ltd v (1) Aon Limited (formerly known as Aon Group Limited) (2) Reynolds Porter Chamberlain [2008] EWHC 222 (Comm) has endorsed previous authorities concerning the scope of brokers’ duties. 

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Read More The English High Court has Re-Addressed the Topic of Brokers’ Duties

In the case of Kylie Palmer v Estate of Kevin Palmer (deceased) and others [2008] EWCA Civ 46, the Court of Appeal has refused to overturn a decision forcing Royal Sun Alliance (RSA) to pay the opposing parties’ costs personally. The claim arose after a six year old girl was severely injured in an automobile accident. 

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Read More The English Court of Appeal has Forced an Insurer to Pay the Opposing Parties’ Costs Personally

Florida Insurance Commissioner Kevin McCarty (McCarty) announced this week that the Office of Insurance Regulation (OIR) has filed an administrative complaint seeking to suspend the certificates of authority of numerous Allstate Companies to write new insurance policies in Florida. 

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Read More Florida Office of Insurance Regulation Files Formal Complaint to Suspend Allstate Companies’ Licenses

The Scottish Government has published a consultation paper on its proposal to introduce legislation before the summer recess in order to overturn the House of Lords’ 17 October 2007 decision (Rothwell v Chemical Insulating Company Ltd [2007] UKHL 39) that asymptomatic pleural plaques are not compensable (click here …
Read More The Scottish Government has Published a Consultation on the Impact of Reversing the House of Lord’s Pleural Plaques Judgment

Lloyd’s may purchase a messaging hub service for the market in a bid to improve the efficiency of the London placement process. The hub will minimise the variety of standards and systems currently used and enable clearer communication. Lloyd’s is considering the purchase of an appropriate ready made tool rather than building a bespoke platform. 

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Read More Proposal to Trial Messaging Hub Experiment at Lloyd’s

The House of Representatives’ Subcommittee on Oversight and Investigations held a field hearing in West Palm Beach, Florida regarding the “crisis related to availability and affordability of homeowners’ insurance in Florida and other disaster-prone areas.” …
Read More Oversight and Investigations Subcommittee Holds Florida Field Hearing on Homeowners Insurance in Disaster Prone Areas

Merrill Lynch recently agreed to “make whole” the city of Springfield, Massachusetts by paying nearly $14 million in connection with subprime losses the city suffered in cash accounts held with the brokerage firm. 

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Read More Broker Agrees To Reimburse Massachusetts City for $14 Million in Subprime Losses

Parana Banco, a Brazilian bank, recently sought authorization to form the country’s first ever private-sector reinsurer.  Parana Banco indicated that the reinsurer, which will be named J. Malucelli Resseguradora S.A., will have nearly $40 million in capital and initially provide reinsurance cover only for surety bonds issued by J Malucelli Seguradora, the insurance unit of the bank. …
Read More Brazilian Bank Seeks Authorization for Reinsurance License