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This is an update as to the efforts of various state insurance regulators, and attorneys general, to coordinate an investigation of life insurance claims settlement practices. Specifically, insurance regulators have been investigating a number of large life insurance companies regarding the purported failure to pay, or undue delay in remittance of, death benefits to beneficiaries of life insurance and allied products. …
Read More Client Advisory – State Insurance Regulators Coordinate Investigation of Life Insurers’ Compliance With Unclaimed Property Laws

he Independent Insurance Agents & Brokers of New York (“IIABNY”) announced in a press release last week that it will appeal a lower court’s decision to uphold Regulation 194, last discussed here, which requires mandatory producer compensation disclosure.  The appeal will be filed with the New York State Supreme Court’s Appellate Division, Third Department in Albany sometime this summer. …
Read More Industry Trade Group Continues Battle Against New York Producer Compensation Disclosure Rule

In a ruling written by former Supreme Court Justice David Souter, sitting by designation, the First Circuit concluded that Cynosure, Inc., was owed no coverage by St. Paul Fire and Marine Insurance Company under a Massachusetts commercial policy insuring against injury caused by advertising. …
Read More Reversing District Court, First Circuit Finds Cynosure Owed No Coverage for Fax Blasts Suit

On May 17, 2011, Florida Governor Rick Scott signed property insurance reform legislation.  We previously reported on the progress of Senate Bill 408 here.  The new law requires windstorm and hurricane claims to be brought within three, instead of five years, and sinkhole claims to be brought within two years. …
Read More Florida Governor Signs Florida Property Insurance Reform Into Law

This updates our May 2, 2011 blog post.

On May 11, 2011, Vermont Governor Peter Shumlin signed into law H.438 (the “Bill”) allowing for the incorporation of protected cells.  Multiple protected cells are combined to form a single sponsored captive insurance company. …
Read More Vermont Enacts Legislation in Hopes of Expanding Its Captive Insurance Market

We have previously reported here and here on the long-running dispute between West Tankers and the insurers, Allianz and Generali. The latest development is the English Commercial Court decision, West Tankers Inc v. (1) Allianz SpA and (2) Generali Assicurazione Generali SpA [2011] EWHC 829 (Comm). For full details of the facts leading up to this decision, please go to our previous blogs. …
Read More UK: Commercial Court Upholds Order Enforcing a Declaratory Award

This updates our May 3, 2011 blog post.  Several state regulators have joined together to form a special task force (“Task Force”) under the auspices of the NAIC to coordinate investigation of the claims procedures of certain life insurance companies.  In particular, states are examining the manner in which such companies investigate and determine whether a particular insured is deceased, and locate beneficiaries. …
Read More NAIC Task Force Established to Coordinate Investigation of Life Insurance Companies’ Claims Procedures

In the recent case of Tony Hook v British Airways plc (2011) EWHC 379 (QB), the High Court was asked to consider whether UK and EU aviation legislation created a private law cause of action sounding in damages in relation to alleged disability discrimination by an airline. …
Read More UK: High Court Upholds Exclusivity of Montreal Convention 1999 in Respect of Disabled Passengers