Industry Developments

Subscribe to Industry Developments via RSS
Markel International Insurance Co Ltd v Surety Guarantee Consultants Ltd & others; (1) QBE Insurance (Europe) Ltd (2) Amalfi Underwriting Ltd v Surety Guarantee Consultants Ltd & others [2008] EWHC 1135 (Comm) concerned a joint trial of two separate but similar cases brought by each of Markel and QBE, together with Amalfi, in which they alleged that the Defendants had defrauded them in connection with the writing of surety bonds between January 2005 and 2006. 

…
Read More UK: Markel International, QBE and Amalfi Victorious in Fraud Cases in English High Court

In July 2007 the Law Commission and Scottish Law Commission (the Commissions) published a joint consultation regarding misrepresentation, non-disclosure and breach of warranty by the insured. A summary of the 105 responses received in relation to consumer insurance has now been published and can be found by clicking here. 

…
Read More UK: Law Commission Publishes Summary of Responses to Consultation in Relation to Reform of Consumer Insurance

The First Circuit Federal Court of Appeals recently affirmed dismissal of a suit against the Puerto Rico Insurance Commissioner on the basis of a Puerto Rico Insurance Code Article that bars suit against the Commissioner once a liquidator has been appointed. 

…
Read More First Circuit Federal Court of Appeals: Spanish Language Version of Puerto Rican Insurance Code Mandates Dismissal of Suit Against Puerto Rico Insurance Commissioner

Last month, www.insurereinsure.com reported on the U.S. Supreme Court’s decision in Hall Street Associates, L.L.C. v. Mattel, Inc., No. 06-989 (U.S. Mar. 25, 2008), which held that the grounds set forth in the Federal Arbitration Act (“FAA”) for vacating and modifying arbitration awards were “exclusive,” rejecting the notion that parties whose arbitration is governed by the FAA can contractually expand the scope of judicial review of the award beyond the grounds provided by the FAA. …
Read More New York State Court Vacates Portion of Arbitration Award Based on Manifest Disregard of the Law

In a recent decision by the United States District Court for the Southern District of New York, the court held that, despite the confidential nature of arbitration proceedings, a party seeking to confirm an arbitration award in court must establish some justifiable reason as to why the award and any documents filed in conjunction with the petition to confirm should remain confidential in order to overcome the strong presumption against sealing judicial records and prevent public access. 

…
Read More New York Federal Court Finds That Arbitration Awards Should Not Be Sealed

Nevada Governor Jim Gibbons recently announced that Nevada Insurance Commissioner Alice A. Molasky-Arman will retire on September 7, 2008.  Molasky-Arman was appointed in 1995 and served under three different governors, making her the longest serving insurance commissioner in Nevada history. …
Read More Nevada Insurance Commissioner Alice A. Molasky-Arman to Retire