Both Rhode Island and Oklahoma have enacted insurance business transfer acts, which allow insurers to transfer and novate books or portfolios of business to insurers domiciled in the respective States. Rhode Island’s Voluntary Restructuring of Solvent Insurers Act became effective on June 30, 2007, and is codified by the Rhode Island Department of Business (“DBR”) Regulation 68.
Read MoreIndependent insurance sales agents have been treated as independent contractors (ICs) for decades. But recently, class action lawyers have begun to target insurance companies with claims that carriers have misclassified these sales agents as ICs instead of employees.
Read MoreIndependent contractor misclassification class action lawsuits and administrative proceedings are becoming more prevalent. Why? Because most industries have made use of independent contractors either to supplement their workforce or as part of their business model.
Read MoreA Cornhusker by birth, I’ve always had a special affinity for Nebraska, and particularly Omaha, where I was raised. My only regret is that I was neither old nor rich enough to participate in Mr.Buffet’s original partnership.
Read MoreA Massachusetts federal court recently denied a pre-award petition to remove a party-appointed arbitrator finding that the Federal Arbitration Act (FAA) did not authorize the court to order arbitrator removal before a final arbitration award has been issued.
Read MoreLocke Lord’s Brian T. Casey, Partner from the Atlanta Office authors “CFPB’s Arbitration Ban Could Affect Insurance Products” for Law360 on May 31, 2016
Read MoreThe U.S. Court of Appeals for the Third Circuit has found that post-award objections to an arbitrator were waived because the party had constructive knowledge of the arbitrator’s insufficient disclosure.
Read MoreIn The London Steam-Ship Owners’ Mutual Insurance Association Ltd v (1) The Kingdom of Spain (2) The French State [2013] EWHC 3188, London Steam-Ship (the Claimant) sought an English judgment pursuant to s. 66 Arbitration Act 1996 (the Act) enforcing arbitral awards it had obtained against the Kingdom of Spain and the French State (the Defendants).
Read MoreIn a decision that has implications for reinsurance, the Massachusetts Supreme Judicial Court last week decided that the Federal Arbitration Act preempts the Massachusetts Arbitration Act where the relevant contract involves interstate commerce. The decision is McInnes v. LPL Financial, LLC, et al., No. SJC-11356 (Aug. 12, 2013), and is available at the court’s website.
Read MoreCourts are more and more likely to enforce an arbitration clause, but not necessarily the ones in an insurance contract. The U.S. Supreme Court has held the Federal Arbitration Act (“FAA”) to override state common law and statutes that would obstruct enforcement of an arbitration clause.
Read More
