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Over the last few months, www.insurereinsure.com has reported on the U.S. Supreme Court’s landmark decision in Hall Street Associates v. Mattel, Inc., 128 S.Ct. 1396 (2008) (click here to view previous post), which held that parties could not contract to expand the grounds for vacatur or modification of arbitration awards under the Federal Arbitration Act (“FAA”), and the potential impact its holding might have on the doctrine of manifest disregard of the law (click here to view previous post). …
Read More Post Hall Street, Federal Courts Differ On the Application of Manifest Disregard of the Law

In October, www.insurereinsure.com reported on a regulation being proposed by New York Superintendent of Insurance Eric Dinallo that would eliminate the existing collateral requirements imposed on foreign and alien reinsurers operating in New York (click here to view prior post). 

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Read More Update on New York’s Proposed Change in Collateral Requirements on Foreign and Alien Reinsurers

The Code requires ABIR’s and BIRBA’s members to provide certainty in coverage terms and conditions to both policyholders and ceding insurers. 

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Read More Bermuda: The Association of Bermuda Insurers and Reinsurers (ABIR) and the Bermuda Insurance and Reinsurance Brokers Association (BIRBA) Announce the Adoption of a Contract Certainty Code (the Code)

Last week, the National Association of Insurance Commissioners (“NAIC”) pledged its support for the Holocaust Insurance Accountability Act of 2008 (“Accountability Act”), which would institute mechanisms for Holocaust-era insurance claims.  The proposed legislation is intended to assist Holocaust survivors and their heirs with insurance claims that are complicated because of missing death certifications and/or non-existent physical copies of policies that were confiscated by the Nazis or lost in the Holocaust. 

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Read More NAIC Pledges Support to Holocaust Insurance Act

For the second time in just over a year, both houses of the New York Legislature passed a bill that would reverse New York’s longstanding “no-prejudice” rule.  Senate Bill 8610 and Assembly Bill 11541 (the “Bill”) prohibits insurers from denying a claim based on late notice unless the insurer can show that it was prejudiced by the untimely notice. …
Read More NY Legislature Passes Late Notice Bill Reversing Longstanding “No-Prejudice” Rule

The United States Supreme Court recently vacated a judgment of U.S. Court of Appeals for the Third Circuit that had held that questions regarding the willfulness of violations of the Fair Credit Reporting Act are an issue of fact. 

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Read More U.S. Supreme Court Vacates Judgment: Questions Concerning the Willfulness of Fair Credit Reporting Act Violations May Not Be for the Jury

Today is the one-year anniversary of the launch of InsureReinsure.com and we mark the occasion by adding an additional feature for our readers. Beginning today, on the left-hand side of your screen, you will see a new link allowing you to “subscribe” to InsureReinsure.com to receive emails each workday morning with links to the prior day’s posts. 

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Read More InsureReinsure.com Turns One, Launches Subscription Feature