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According to an estimate provided by Lloyd’s of London, over £6.2 billion worth of insurance coverage has been purchased by individuals and entities in connection with the 2010 FIFA World Cup, which begins today.  Over half of that amount is for coverage for stadiums and training facilities, which reflects the vast amount of money that has been spent constructing and upgrading stadiums ($5.5 billion, according to the New York Times). …
Read More World Cup Insurance Estimated at Over 6 Billion Pounds

We have reported previously on the UK Financial Services Authority (FSA)’s short selling disclosure rules, most recently as consultation on its implementation of the UK’s Financial Services Act 2010 (click here to read our post). In that consultation, the FSA noted that the Committee of European Securities Regulators (CESR) was consulting on a Pan-European regime. …
Read More Europe: Committee of European Securities Regulators Publishes Model Short Selling Disclosure Regime

As previously discussed here, the New York Insurance Department (the “Department”) has put forth a regulation regarding the transparency of insurance producer compensation (“Regulation 194”), which is slated to take effect January 1, 2011. …
Read More PIANY receives approval on draft language regarding producer compensation disclosure

The US District Court for the District of Connecticut recently dismissed a customer suit against an insurer, based upon its determination that all of the underlying claims were excluded by the policy’s Insolvency Exclusion. …
Read More Court Holds Coverage for Madoff Suits Excluded Under Policy’s Insolvency Exclusion

New York District Court recently held that thousands of claims by consumers for injuries arising from use of contact lens solution would be treated as separate occurrences. …
Read More Thousands of Consumers’ Claims for Injuries Arising From Use of Contact Lens Solution Constitute Separate Occurrences