In HLB Kidsons (A Firm) v Lloyds Underwriters & Others [2007] EWCH 2699, a dispute arose over whether the claimant firm of accountants had properly notified claims to the defendant insurers.
Commercial Court Publishes Working Party Report On Long Trials
By Troutman Pepper Locke on
Posted in Coverage & Claims, United Kingdom
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.
…
Read More Commercial Court Publishes Working Party Report On Long Trials
Solvency II: Quantitative Impact Study (QIS) 4 public hearing
By Troutman Pepper Locke on
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.
…
Read More Solvency II: Quantitative Impact Study (QIS) 4 public hearing
Financial Services Authority (FSA) programme: Commission disclosure in the commercial general insurance market
By Troutman Pepper Locke on
Posted in Regulatory, United Kingdom
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.
FSA: Appointed Representatives (ARs) review
By Troutman Pepper Locke on
A review by the FSA, published on 3 December 2007, has found that firms are not doing enough to ensure that their ARs are treating customers fairly in the sale of general insurance.
Financial Services Authority (FSA) Consultation Paper (CP): close links
By Troutman Pepper Locke on
Posted in Regulatory, United Kingdom
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.
…
Read More Financial Services Authority (FSA) Consultation Paper (CP): close links
Legislation Proposes Arsonist Registry
By Troutman Pepper Locke on
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.
CA Insurance Commissioner Convenes Insurer Summit to Aid Wildfire Survivors
By Troutman Pepper Locke on
Posted in Regulatory, United States
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.
…
Read More CA Insurance Commissioner Convenes Insurer Summit to Aid Wildfire Survivors
Contesting an Arbitration Award? Seventh Circuit Affirms That Statute of Limitation Runs From Date the Award is Sent
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.
New York Court Holds That Injuries Caused By Exposure to Popcorn Chemicals Resulted From Multiple Occurrences
By Troutman Pepper Locke on
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.