Industry Developments

Subscribe to Industry Developments via RSS

MGN Limited v the United Kingdom (Application no. 39401/04) 18 January 2011 European Court of Human Rights (ECHR), concerned an alleged breach of Article 10 of the European Convention on Human Rights (the Convention) in relation to the reimbursement of a “success fee” payable under a Conditional Fee Arrangement (CFA). Under Article 10 of the Convention, everyone has the right to freedom of expression without interference. …
Read More European Court of Human Rights Raises Serious Doubts as to the Recoverability of Success Fees under CFAs

The recent federal approval of the first wind farm (“Cape Wind”) to be built in United States’ waters marks a new era for renewable energy projects, said Peter Mavraganis, recently appointed leader of Marsh’s U.S. Renewable Energy Practice. …
Read More Offshore Wind Energy Brings New Opportunities and Risks to Insurance Industry

In a case we have been following on www.insurereinsure.com, Louisiana Safety Association of Timbermen – Self Insured Fund v. Certain Underwriters at Lloyd’s, London, the U.S. Supreme Court declined to grant certiorari to hear a dispute between an insurance pool and its reinsurer concerning whether the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the “New York Convention”) preempts a Louisiana statute that bars enforcement of arbitration agreements in insurance or reinsurance contracts. …
Read More U.S. Supreme Court Refuses to Hear Dispute Concerning Preemptive Effect of New York Convention on State Law Barring Arbitration

Launched by Prince Charles in 2007, ClimateWise is global collaboration of leading underwriters and brokers focused on reducing the risks of climate change.  For a complete list of member insurance companies, click here. …
Read More Prince Charles’ ClimateWise Finds Insurers Are Increasing Investment in Climate-Friendly Businesses

Edwards Angell Palmer & Dodge is holding a Complimentary Webinar entitled Suspicious Activity Reports:  How and When to Write Them, on December 16, 2012 from noon to 1:00 PM EST. …
Read More Complimentary Webinar entitled Suspicious Activity Reports: How and When to Write Them

Connecticut Governor M. Jodi Rell has appointed Barbara C. Spear acting Commissioner of Insurance effective today.  Governor Rell’s office confirmed the appointment of Ms. Spear, who currently serves as the Director of Consumer Services and Business Regulation at the Connecticut Insurance Department (the “CID”). …
Read More Connecticut Names New Insurance Commissioner

Ambac Financial Group Inc., parent of the troubled Wisconsin-domiciled bond insurer Ambac Assurance Corp., filed for Chapter 11 bankruptcy relief on November 8, 2010.  As was alluded to in our blog post last week, Ambac has been unable to raise additional capital or come to terms with its debt holders.  Additionally, while Ambac had originally sought to enter bankruptcy as part of a prepackaged agreement, this too failed. …
Read More Ambac Financial Group, Inc. Files for Chapter 11 Bankruptcy