The Commercial Court has published the report of its Long Trials Working Party set up under the chairmanship of Mr. Justice Aikens. The Working Party was established following criticisms arising from the duration and cost of the infamous BCCI v Bank of England and Equitable Life trials. 

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Read More Commercial Court Publishes Working Party Report On Long Trials

In order to help prepare the ground for the development of implementing measures once the Solvency II proposal has been adopted, the Committee of European Insurance and Occupational Pensions (CEIOPS) will run a fourth quantitative impact study between April and July 2008. 

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Read More Solvency II: Quantitative Impact Study (QIS) 4 public hearing

On 10 December 2007, the FSA announced a further programme of work to consider possible inefficiencies in the commercial general insurance market before taking a decision on whether to mandate commission disclosure. 

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Read More Financial Services Authority (FSA) programme: Commission disclosure in the commercial general insurance market

In December 2007, the FSA published Consultation Paper CP07/21 entitled ‘Close Links’, in which it reviews existing close links requirements, which you can review by clicking here. 

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Read More Financial Services Authority (FSA) Consultation Paper (CP): close links

On December 5, 2007, H.R. 1759:  Managing Arson Through Criminal History (“MATCH”) Act of 2007 passed in the House of Representatives by voice vote and is now in the Senate.  MATCH would establish guidelines and incentives for U.S. states and territories to establish arsonist registries and require the United States Attorney General (“AG”) to establish a national arsonist registry and notification program. 

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Read More Legislation Proposes Arsonist Registry

On December 17, 2007, California Insurance Commissioner Steve Poizner hosted a meeting with top-level insurance executives to assist wildfire victims in the recovery process and announce minimum standards to reform the claims handling process. 

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Read More CA Insurance Commissioner Convenes Insurer Summit to Aid Wildfire Survivors

In a ruling that may impact the world of commercial arbitrations, the United States Court of Appeals for the Seventh Circuit affirmed a district court’s denial of a motion to vacate an arbitration award on the basis that it was filed one-day too late. 

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Read More Contesting an Arbitration Award? Seventh Circuit Affirms That Statute of Limitation Runs From Date the Award is Sent

A New York appellate panel recently affirmed a lower court’s decision finding that each worker’s injuries from exposure to chemicals found in popcorn flavoring resulted from separate occurrences for purposes of applying a “per occurrence” deductible under certain general liability insurance policies. 

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Read More New York Court Holds That Injuries Caused By Exposure to Popcorn Chemicals Resulted From Multiple Occurrences

Individual self-insured employers in New York may encounter major changes to how their workers’  compensation plans are secured if recommendations proposed by New York’s Workers’ Compensation Board (the “Board”) become law.  The Board issued a report recommending that self-insuring employers be required to join a guarantee pool instead of the present system where individual self-insuring employers post a security deposit, such as a letter of credit or surety bond, equivalent to their outstanding workers’ compensation claims. …
Read More New York Workers’ Compensation Board Proposes Self-Insurer Guarantee Pooling