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Thomas B. Leonardi, Commissioner of the Connecticut Insurance Department, was elected as the secretary of the National Association of Insurance Commissioner’s (“NAIC”) Northeast Zone during the NAIC’s Fall 2011 meeting.  As part of this position, Commissioner Leonardi will also serve on the NAIC’s Executive Committee. …
Read More Connecticut Insurance Commissioner Elected Secretary of the NAIC’s Northeast Zone and Will Serve on the NAIC’s Executive Committee

Andrew R. Stolfi has been appointed as acting director of the Illinois Department of Insurance (the “Department”) by Governor Pat Quinn.  Acting Director Stolfi most recently served as chief of staff and special counsel for policy and legislative affairs at the Department since 2009. …
Read More Illinois Department of Insurance Acting Director Named

On November 4, 2011, the National Association of Insurance Commissioners (“NAIC”) elected the following officers for the upcoming year:

President: Florida Insurance Commissioner Kevin M. McCarty
President-Elect: Louisiana Insurance Commissioner James J. Donelon
Vice President: North Dakota Insurance Commissioner Adam Hamm
Secretary-Treasurer: Montana Commissioner of Securities and Insurance Monica J. Lindeen 

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Read More NAIC Elects New Officers For 2012

At the annual National Association of Professional Surplus Lines Offices, Ltd. (“NAPSLO”) convention, the surplus lines industry recently reported that it has seen an increase of 10-15 percent in submission volume over the last year.  Although the price of most insurance written by surplus lines insurers has not increased (other than for insurance written on catastrophe exposed accounts), the industry reported that terms and conditions of such insurance is improving. …
Read More Surplus Lines Market Reports Increase in Business

Please join the U.S. Reinsurance Under 40s Group for a happy hour this Wednesday, October 26, at St. Andrew’s Restaurant and Bar, located at 140 West 46 Street (between 6th and 7th Ave.).  The event will run from 5:30-8:30, and the Group has reserved a private area in the upstairs section of St. Andrew’s. …
Read More U.S. Reinsurance Under 40s Group to Host an Event This Wednesday

Alan Levin (Hartford, practice co-chair), Chuck Welsh (Hartford), Patrick Gennardo (New York), Brent Austin (Chicago), and Mohana Terry (New York) are attending the American Council of Life Insurers (“ACLI”)  Annual Conference in Orlando, Florida, from October 16 through October 18. …
Read More Edwards Wildman Attorneys Attend ACLI Annual Conference

In National Union Fire Insurance Co. v. Source One Staffing, LLC, the Supreme Court of New York County was asked to consider the interrelationship of three statutes: the McCarran-Ferguson Act (15 U.S.C. § 1101 et seq.), the Federal Arbitration Act (“FAA”) (9 U.S.C. § 1 et seq.), and the California Insurance Code (Cal. Ins. Code § 11658). …
Read More New York Court Errs in Consideration of Interplay Between California Insurance Code, McCarran-Ferguson, and Federal Arbitration Act

As we previously report here, Ambac Financial Group, Inc. (“AFG”), the holding company for the bond insurer, Ambac Assurance Corp. (“AAC”), filed for bankruptcy in November 2010 after it was unable to raise additional capital or come to terms with its debt holders. …
Read More Ambac and Rehabilitator Reach Amended Bankruptcy Reorganization Plan

EAPD’s Vincent Vitkowsky authored an article that is part of Business Insurance’s special edition about the impact and ramifications of 9/11 on the insurance industry. …
Read More Ten Years Later – The Insurance Industry’s Fight Against Terrorism