California law presently provides for a limited exemption from discovery for a request for a document filed pursuant to the California Holding Company Act. This exemption applies to documents and information reported to the Insurance Commissioner in registration statements or obtained by or disclosed to the Insurance Commissioner in the course of an examination or investigation.
Read More California Broadens the Exemption to the Confidentiality of Statements Filed Pursuant to the California Holding Company Act
California Developments
California Adds New Hazardous Financial Condition Regulations
Effective January 1, 2014, the California Department of Insurance has added six new regulations to Title 10 of the California Code of Regulations. These can be found at Title 10, Chapter 5, Article 22 Sections 2598 through 2598.6. …
Read More California Adds New Hazardous Financial Condition Regulations
California Court of Appeal, Third District Holds In-House Attorney May Be Liable for Malpractice for Failing to Warn Employee About Conflict
By Troutman Pepper Locke on
The California Court of Appeal, Third District, in Yanez v. Plummer, 2013 WL 5915639, Cal. Ct. App. 3d Dist., No. C070726 (Nov. 5, 2013) recently held that a former employee deposed in connection with a co-worker’s personal injury suit may pursue malpractice claims against in-house counsel who failed to disclose the conflict of interest created by counsel’s dual representation of the employer-railroad and the employee. …
Read More California Court of Appeal, Third District Holds In-House Attorney May Be Liable for Malpractice for Failing to Warn Employee About Conflict
California Appellate Court Issues Bad Faith Duty to Settle Opinion
On October 7, the California Court of Appeal, Second Appellate District, held that a liability insurer, in the absence of any demand or settlement offer from a third party claimant, need not initiate settlement negotiations or offer its policy limits, even where liability is clear and there is a substantial likelihood that the third party claimant’s recovery will exceed policy limits. …
Read More California Appellate Court Issues Bad Faith Duty to Settle Opinion
CA Update: Sponsors Drop Privacy Ballot Initiative
According to media reports, sponsors of a ballot initiative to add significant privacy rights to the California constitution, as reported here, have now dropped the initiative. …
Read More CA Update: Sponsors Drop Privacy Ballot Initiative
CA Residents to Decide on Constitutional Privacy Rights
More major privacy and data protection developments are in the works in California, following three significant new laws reported here. On September 25, 2013, the California Secretary of State approved steps required to bring before state residents a ballot initiative entitled the Personal Privacy Protection Act (the “Act”). …
Read More CA Residents to Decide on Constitutional Privacy Rights
California Extends Breach Notification Obligations to Online Account Credentials
A new amendment to California’s breach notification statutes extend notification requirements to the breach of California residents’ online account credentials, with distinctive obligations regarding method and content of such notices. …
Read More California Extends Breach Notification Obligations to Online Account Credentials
California Enacts AB 584 Requiring Insurance Companies to File an ORSA Summary
By Troutman Pepper Locke on
As of January 1, 2015 insurers and insurance groups will be required to assess the adequacy of their risk management systems and to periodically conduct an Own Risk and Solvency Assessment (ORSA) consistent with the National Association of Insurance Commissioner’s (NAIC) ORSA Guidance Manual. …
Read More California Enacts AB 584 Requiring Insurance Companies to File an ORSA Summary
The Significance of Zhang v. California Capital Insurance Company
By Troutman Pepper Locke on
On August 1, 2013, the California Supreme Court issued its long awaited decision in Zhang v. California Capital Insurance Company. A copy of the decision is available here. …
Read More The Significance of Zhang v. California Capital Insurance Company
New York Initiates Investigations into Possible Violations of the Latest U.S. Sanctions against Iran
By Troutman Pepper Locke on
The New York Department of Financial Services (“DFS”) has recently begun a string of new investigations into possible violations by non-U.S. reinsurers of U.S. sanctions against Iran, specifically those set forth in the Iran Freedom and Counter-Proliferation Act of 2012 (the “IFCPA”) that became effective on July 1, 2013. …
Read More New York Initiates Investigations into Possible Violations of the Latest U.S. Sanctions against Iran