A growing number of states have adopted so-called “matching” regulations, requiring the replacement the undamaged items when the damaged items cannot be replaced in a way that achieves a reasonably uninform appearance, which may give rise to increased litigation in the coming years.  …
Read More Proliferation of Property Insurance Matching Regulations Increases Litigation Risks

The U.S. Securities and Exchange Commission (“SEC”) expanded its recent focus on cybersecurity by addressing the responsibilities of corporate boards. In statements made during a June 10 talk at the New York Stock Exchange, SEC Commissioner Luis Aguilar highlighted the significant exposure that cyber risks present to companies and charged corporate boards with ultimate responsibility for addressing cybersecurity risk. …
Read More SEC Focus on Cyber Risk Continues, as Commissioner Calls on Corporate Boards to Oversee Cybersecurity

In Mitsui Sumitomo Insurance Co (Europe) Ltd and Anor v The Mayor’s Office For Policing And Crime [2014] EWCA Civ 682, the Court of Appeal has handed down a landmark decision on the recoverability of consequential losses under s2(1) of the Riot (Damages) Act 1886 (the “Act”). …
Read More UK: Court of Appeal Reverses Decision of High Court and Rules That Consequential Losses are Recoverable Under the Riot (Damages) Act 1886

Edwards Wildman have been instructed to act for J.K. Buckenham Limited (the Company) in relation to a scheme of arrangement which is the first of its kind (the Scheme). Under the Scheme, the Company will ask scheme creditors to give up their contractual rights against the Company, which has been in run off since 2007, in return for a replacement contract with its sister company, Howden Insurance Brokers Limited (HIBL). …
Read More UK: JK Buckenham Ltd Scheme of Arrangement

In Catlin Specialty Ins. Co. v. Am. Superconductor Corp., 12-2314-BLS1 (Mass. Super. Ct. Jan. 29, 2014), Catlin sought a declaration of no coverage based on late notice, among other reasons. …
Read More Massachusetts Superior Court Determines That New York Notice Law Does Not Apply Despite New York Choice Of Law Provision In Policy

An act amending the Connecticut captive statute pursuant to Public Act No. 14-6 (the “Act”), reported here, has been signed by Connecticut Governor Dannel P. Malloy, and will take effect October 1, 2014. …
Read More Update: CT Captive Insurance Amendments Effective October 1, 2014

Massachusetts health officials announced last week that it will replace its health insurance exchange website. According to media reports, the current website has had difficulty implementing the federal health laws (i.e., Obamacare), because it was designed to comply with state health laws (i.e., Romneycare). …
Read More Massachusetts to Replace Health Exchange Website Provider