Industry Developments

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A recent study by Benfield Group Ltd. entitled “Global Reinsurance:  Capital Consequences-Billion Dollar Question” predicts a hardening in reinsurance pricing for the coming year, given reinsurers increasing exposure to recent catastrophes, such as Hurricane Ike, and the fallout from the global credit crisis.  Click here to review a copy of

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Read More Pricing in Insurance, Reinsurance Markets Shifting

The exponential rise of blogs over the last eight years has led to the launch of a new type of liability insurance for bloggers.  Supporters of this form of coverage note that bloggers are increasingly facing threats of libel and defamation lawsuits, copyright infringement claims, and charges of invasion of privacy. 

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Read More Insurers Begin Offering Liability Insurance for Bloggers

The Property Casualty Insurers Association of America (the “Association”) recently predicted that a confluence recent events hitting the property and casualty insurance market could result in higher premiums. 

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Read More Recent Events Affecting P&C Insurance Market Could Result in Higher Premiums, Says Industry Association

The Reinsurance Directive was adopted in 2005 and was to be implemented by member states no later than 10 December 2007 (with some provisions coming into force by 10 December 2008). Although a number of member states missed the 2007 deadline, most have now completed their implementation or are expected to do so by December 2008. …
Read More UK: EAPD Publishes Updated Guidance Note on Implementation of the Reinsurance Directive

On 16 October 2008, the Department for Business, Enterprise and Regulatory Reform (BERR) published a consultation document seeking comments in respect of the European Commission’s proposal for the creation of European Private Companies, which was published in June 2008. …
Read More UK/EU: Consultation on EU Proposal to Enable the Creation of European Private Companies

On October 15, 2008, the Oregon Department of Consumer and Business Services (“DCBS”) announced that Scott Kipper is stepping down from his position as the Insurance Division Administrator effective October 31, 2008.  Kipper’s appointment as Administrator began on December 27, 2007, as we reported here. 

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Read More Oregon Insurance Administrator Scott Kipper Steps Down

As the current worldwide economic turmoil has taken its toll on insurance markets, a number of Latin American regulators and commentators have expressed the opinion that the peculiarities of the Latin American insurance markets may make them particularly resilient in the face of a potential global downturn.  According to these sources, despite the current crisis, Latin American insurance markets remain stable and likely to continue to grow. 

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Read More How Will The Credit Crisis Affect Latin American Insurance Markets?

Don’t forget to RSVP for the U.S. Reinsurance Under 40s Group’s ReIndustry Speak on October 23 in New York from 6:00 – 9:00 p.m.  The event, which is sponsored by Swiss Re, will feature hear Jim Fiore (QBE the Americas, Chief Operating Officer) and Alan J Levin (Edwards Angell Palmer & Dodge, co-chair of Insurance & Reinsurance Department), as they speak about the reinsurance industry.  They will speak about how the industry has changed over the years, where the industry is going, and will give advice about climbing the ladder of (reinsurance) success. 

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Read More Reinsurance Under 40s Group’s ReIndustry Speak on October 23 in New York

We are pleased to announce that AIDA US, the American Chapter of the International Insurance Law Society, will hold an afternoon seminar immediately following the ARIAS•US Conference on Friday, November 7th, from 1:30-4:15PM.  “The Global Credit Crisis and the International Insurance Industry” brings together leaders in the field whose update

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Read More Invitation To Attend “The Global Credit Crisis And The International Insurance Industry” Symposium on November 7th in New York City