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A California federal court recently held that the consent provision in an insurance policy obligates the insured to notify the insurer and obtain its consent before settling, offering to settle or otherwise incurring a contractual obligation. 

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Read More Insurer’s Denial of Indemnification of Insured’s Settlement with Claimants Upheld Where Insured Settled Without Insurer’s Consent

The Boston Globe has reported that the Attorney General for the Commonwealth of Massachusetts, Martha Coakley, has launched an investigation into Blue Cross Blue Shield of Massachusetts and Partners HealthCare.  Partners HealthCare owns several Massachusetts hospitals, including Massachusetts General Hospital and Brigham and Women’s Hospital. …
Read More Massachusetts Attorney General Investigates Health Insurer and Provider

The United States District Court for the District of Massachusetts recently held that delivery of a policy is not a prerequisite to the enforcement of its terms unless a policy so explicitly states.  The court also held that an insurer can deny coverage for the failure to satisfy “claims made and reported” policy prerequisites without first investigating the claim. 

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Read More Delivery of a Policy is not a Prerequisite to the Enforcement of its Terms; Insurer Can Deny Coverage Based on “Claims Made and Reported” Prerequisites Without First Investigating the Claim

The Missouri Court of Appeals, Eastern District recently held that a nurse’s professional liability insurer was not liable for contribution to her employer’s professional liability insurer after the latter settled a wrongful death claim involving the nurse. 

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Read More Missouri Court of Appeals Finds No Right of Equitable Contribution Based on Other Insurance Clauses

The Washington Supreme Court recently held that a cause of action for bad faith claims handling is not dependant on whether the insurer breached its duty to defend, settle, or indemnify, either in the third-party context under the common law, or under the Washington Consumer Protection Act (“CPA”). 

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Read More Washington Supreme Court Holds that Procedural Bad Faith Claims Are Not Dependant on an Insurer Breaching its Duty to Defend, Settle, or Indemnify

On January 20, 2009, Maiden Holdings, Ltd. (“Maiden Holdings”), a Bermuda based holding company, completed a private placement of trust preferred securities with a face amount of $260MM through Maiden Holdings North America, Ltd. (“Maiden NA”), wholly-owned subsidiary of Maiden Holdings. 

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Read More Maiden Holdings Completes Private Placement of Trust Preferred Securities

In John Foster Emmott (Emmott) v. Michael Wilson & Partners Limited (MWP) [2009] EWHC 1 (Comm) the Court had to consider two applications brought by Emmott pursuant to the Arbitration Act 1996 (AA): (1) for an order requiring MWP to comply with a peremptory order (an order to do something within a particular time period) made by an arbitration tribunal (section 42 AA); (2) for a freezing order (section 44 AA). 

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Read More UK: Court Considers its Supervisory Powers Over Arbitration

In May 2008, CEIOPS issued a questionnaire to member states on the treatment of third country reinsurers and equivalence measures. CEIOPS’ report on the findings to this questionnaire has recently been published. The questionnaire dealt with three elements of the relationship between Member States of the EEA and third countries – the treatment of reinsurance undertakings, equivalence provisions and co-operation agreements. 

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Read More EU: CEIOPS Releases Report of Third Country Reinsurance Equivalence Survey

Tackling poor sales practices in respect of payment protection insurance is a continuing priority for the FSA, as is evident from the its ongoing work and the regulatory action taken against 20 PPI providers in 2008 (see our most recent post here). The FSA has welcomed the decision by Alliance & Leicester, Barclays, The Co-Operative Bank, Lloyds Banking Group (including Lloyds TSB, Halifax and the Bank of Scotland), and RBS/Natwest to stop selling single premium PPI with unsecured personal loans by the end of January 2009. 

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Read More UK: FSA Issues Update on the Sale of Payment Protection Insurance (PPI)

The European Captive Insurance and Reinsurance Owners’ Association (ECIROA) has recently published its comments on CEIOPS’ Issues Paper on Implementing Measures on System of Governance. …
Read More EU: European Captive Insurance and Reinsurance Owners’ Association Comments on System of Governance Issues Paper