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As reported in our December 8, 2008 posting, the National Association of Inusrance Commissioners (“NAIC”) adopted a proposal to modernize reinsurance regulation (the “Proposal”) at its 2008 Winter Meeting. 

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Read More NAIC Exposes Draft Federal Legislation for Implementation of Reinsurance Regulatory Modernization Framework

In Direct Line Insurance (DLI) v. Kenneth Ronald Fox [2009] EWHC 386 (QB), DLI sought to recover sums paid under a buildings insurance policy to an insured, Mr Fox, in respect of fire damage to Mr Fox’s home. Mr Fox had made a claim for recovery under the policy, which DLI accepted, entering into a written agreement providing Mr Fox with a settlement amount and also providing for a VAT payment upon the provision of certain documentation from Mr Fox following the damage being repaired. 

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Read More UK: Fraudulent Claims

A New York state appellate court recently reversed a landmark 2007 trial court decision and held that asbestos-related bodily injury claims fall within the products/completed operations hazard coverage of the comprehensive general liability policies at issue and are therefore subject to that coverage’s aggregate limits. 

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Read More New York State Appellate Court: Asbestos Claims Fall Within Products/Operations Hazard Coverage and Are Subject to Aggregate Limits

Lloyd’s has announced the appointment of Tom Bolt as its new Underwriting Performance Director, replacing Rolf Tolle who steps down as Franchise Performance Director at the end of the year. Although the title changes, we understand the role is largely the same. 

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Read More UK: Lloyd’s Announces Appointment of New Underwriting Performance Director