In a recent decision analyzing the follow the fortunes doctrine, a federal district court in Florida held that the doctrine should not be implied in a reinsurance contract. 

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Read More Florida District Court Refuses to Imply Follow the Fortunes in Reinsurance Contract

In a dispute concerning the appointment of an umpire in a reinsurance arbitration, the federal district court of Connecticut held that it, and not the parties, should appoint the umpire and appointed Robert M. Hall to serve on the arbitration panel. 

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Read More Federal District Court in Connecticut Appoints Umpire in Reinsurance Arbitration

As we wrote about here, the Fifth Circuit heard oral argument on June 5 on the appeal of Judge Duval’s November 2006 decision on the enforceability of various policies’ flood exclusions.  On August 2, the Fifth Circuit issued its opinion and partially reversed Judge Duval’s decision. 

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Read More Fifth Circuit Rules in Favor of Flood Exclusions

The Indiana Court of Appeals recently held that a company that acquires liabilities through a merger or acquisition may seek coverage under the acquired company’s occurrence-based insurance policies for losses that occurred before merger or acquisition. 

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Read More Split of Authority: Does An Acquiring Company Obtain An Acquired Company’s Coverage For Pre-Acquisition Losses?

Florida’s personal injury protection (“PIP”) statute, Florida Statute § 627.736, requires Florida insureds to maintain at least $10,000 in “no fault” coverage for automobile accidents and compels insurers to pay 80% of all reasonable, related, and necessary medical expenses.  However, subsection (10) of the PIP statute creates an alternative to standard PIP coverage options. 

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Read More Florida No Fault Coverage – Insurers May Reimburse Medical Providers at the Providers’ PPO Contract Rates

Late yesterday afternoon, the House Financial Services Committee approved an amended version of the Terrorism Risk Insurance Revision and Extension Act of 2007 (“TRIREA”) by a vote of 49 to 20. 

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Read More Terrorism Risk Insurance Revision and Extension Act of 2007 Inches its Way Toward Passage

On July 16, 2007, the Massachusetts Commissioner of Insurance, Nonnie S. Burnes, issued two decisions which will introduce managed competition into the Massachusetts automobile insurance market. 

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Read More Massachusetts Insurance Commissioner Introduces Managed Competition Into The State’s Auto Insurance Market

Despite warnings from the Bush Administration, as reported here that it would not support any legislation expanding the National Flood Insurance Program (“NFIP”) to include windstorm coverage, the House Financial Services Committee approved the Flood Insurance Reform and Modernization Act of 2007 (H.R. 3121), which contains just such an amendment to the NFIP. 

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Read More House Panel Approves Bill to Amend NFIP

Following up on our post last month, on July 24, 2007, a bipartisan optional federal charter (OFC) bill was proposed in the House by Reps. Melissa Bean (D-IL) and Ed Royce (R-CA), serving as a companion bill to the previously-filed Senate version, both of which are entitled the National Insurance Act of 2007. …
Read More National Insurance Act/Optional Federal Charter Legislation Reintroduced in House