Both houses of the Connecticut General Assembly have passed HB 7025, which would create a new legal process whereby a Connecticut domestic insurer could divide into multiple insurers and allocate assets and obligations to the “new” insurer.
Read MoreIn a sprawling 163 page opinion issued just last week, the Connecticut Appellate Court addressed, as a matter of first impression, five different issues that will significantly affect the disposition of asbestos, and potentially other, long tail claims in Connecticut.
Read MoreLocke Lord’s Insurance & Reinsurance Newsletter provides topical snapshots of recent developments in the fast-changing world of insurance.
Read MoreA bill that would mandate coverage of breast cancer screenings by breast tomosynthesis is currently pending before Connecticut’s General Assembly.
Read MoreA bill that would require homeowners’ policies to cover mitigation undertaken to prevent a covered property from collapsing or caving in advanced through the Connecticut General Assembly’s Insurance and Real Estate Committee (“Committee”) Tuesday.
Read MoreOn December 4, 2015, the Connecticut Insurance Department (the “CID”) issued Bulletin PC-81 banning the practice of price optimization, a pricing method whereby insurers use factors not specifically related to an insured’s expected losses and expenses in pricing coverage.
Read MoreThe Connecticut Supreme Court recently overturned a $34.7 million judgment against The Hartford Fire Insurance Company (“Hartford”) in a class action suit filed by over 1000 auto body repair shops alleging unfair trade practices by Hartford for paying the shops well below their hourly rates.
Read MoreOn February 9, Connecticut Governor Dannel Malloy wrote a letter to U.S. Department of the Treasury Secretary Jacob Lew and U.S. Trade Representative Ambassador Michael Froman expressing his concern over their departments’ consideration of preempting state insurance regulation by potentially negotiating a “covered agreement” with foreign authorities.
Read MoreThe Connecticut Supreme Court recently held that an insurer has standing to pursue a declaratory judgment action against another insurer of a common insured to determine the existence of a duty to defend and the allocation of defense costs among them. Travelers Cas. & Sur. Co. of America, et al. v. The Netherlands Ins. Co., et al., No. S.C. 19089, — Conn. — (Conn. Aug. 5, 2014). A copy of the decision is available here.
Read MoreAn 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.
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