The  CEA, the representative organisation for European insurers and reinsurers has called for further impact analysis of Europe’s insurance regulation standard Solvency II. The CEA announced at the European Commission public hearing that the latest qualitative impact study (QIS4) on Solvency II needs to align more closely with the framework directive published in July 2007. 

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Read More UK/EU: Comité Européen des Assurances (CEA) Calls for Extra Scrutiny of Solvency II

The United States District Court for the Eastern District of Pennsylvania recently ruled that a non-signatory insured was obligated to arbitrate her claims against a reinsurer pursuant to the reinsurance contract’s arbitration provision, finding that the insured was a third-party beneficiary of that contract. 

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Read More Non-Signatory Compelled to Arbitrate Claims Against Reinsurer

In Zeller v British Caymanian Insurance Company [2008] UKPC 4, Mr Zeller sought indemnification under his employer’s health insurance policy in respect of his costs of having major heart surgery. 

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Read More The Privy Council Overrules the Cayman Islands Court of Appeal in Respect of the Repudiation of a Health Insurance Contract

UK insurers have been subject to increasing levels of flood and storm claims in recent years. A new report from the Marine Climate Change Impacts Partnership indicates that the trend is likely to continue. 

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Read More A New Climate Change Report is Bad News for UK Insurers

On January 17, 2008, Leonard Crouse announced his plan to retire from his post as Deputy Commissioner of the Captive Insurance Division (“Division”) effective June 1st of this year.  The Division is part of the Vermont Department of Banking, Insurance, Securities and Health Care Administration (“BISHCA”).  Vermont is the largest captive insurance domicile in the United States. 

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Read More Leonard Crouse to Retire June 1, 2008

In Mills v. Foremost Insurance Co., No. 06-16458 (Jan. 4, 2008), the 11th Circuit recently overturned the dismissal of Florida hurricane victims’ class-action lawsuit relating to mobile home damages.  The plaintiffs claimed that their insurer underpaid for the damage to their mobile homes. …
Read More 11th Circuit Reinstates Hurricane Class-Action Lawsuit

The United States House of Representatives passed H.R. 3959 (the “Bill”) on January 23, 2008, in an attempt to improve the actuarial soundness of the National Flood Insurance Program (“NFIP”). …
Read More House Approves Bill Eliminating Certain NFIP Subsidies

As previously reported here, Louisiana launched the Insure Louisiana Incentive Program in an effort to attract more property and casualty and increase the private market capacity.  The program provides grants ranging from $2 million to $10 million in matching funds to qualified property insurance companies. 

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Read More Louisiana Completes First Round of Property & Casualty Incentive Program

The Arizona Supreme Court recently held that Arizona’s 1987 abolition of joint and several liability extends to strict products liability actions, meaning that liability is several only and fault must be apportioned among tortfeasors even in cases involving strict liability. 

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Read More Arizona Supreme Court Holds That Liability Among Tortfeasors in Strict Productions Liability Actions is Several Only, as Opposed to Joint and Several

Last week, three Allstate Companies (Allstate Insurance Co., Allstate Indemnity Co. and Allstate Property and Casualty Co., collectively “Allstate”) were suspended from writing new automobile insurance policies in the state of Florida by Florida Insurance Commissioner Kevin McCarty. 

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Read More Allstate Suspended from Writing New Business in Florida