Reinsurance

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The U.S. Reinsurance Under 40s Group will be hosting its first social event of the year this Wednesday, January 30th, at Three Sheets Saloon, which is located on 134 West 3rd Street (between 6th Avenue and MacDougal St.). The event will kick-off at 5:30 pm, and include various drink specials until closing. …
Read More Please Join the U.S. Reinsurance Under 40s Group for its First Social Event of 2013

The Cayman Islands legislature has amended the Insurance Law, 2010 to, among other things, permit licensing of two new classes of reinsurers. The new class C insurer license permits reinsurance through the issuance of catastrophe bonds and other similar instruments, such as insurance linked securities. …
Read More Cayman Islands Creates Two New Classes of Reinsurers

At the recently concluded NAIC Fall National Meeting, the Reinsurance Task Force of the Financial Condition (E) Committee, released for public comment the highly anticipated draft of the NAIC Process for Developing and Maintaining the List of Qualified Jurisdictions (“Process”). The stated purpose of the Process is to establish a method for evaluating the reinsurance supervisory systems of non-U.S. jurisdictions. …
Read More NAIC Proposes Reinsurance Credit “Qualified Jurisdictions” Standard and Process

REMEDI, the Re/Insurance Mediation Institute, has released its forms  for a Mediation Clause and a Mediation Agreement for reinsurance disputes.  These documents resulted from a process that included consultation with senior industry executives active in reinsurance disputes. …
Read More REMEDI Issues Form Mediation Clause and Mediation Agreement for Reinsurance Disputes

In Amlin Corporate Member Ltd v Oriental Assurance Corporation [2012] EWCA Civ 1341, the Court of Appeal upheld the decision of the court of first instance in refusing a stay of English proceedings brought by reinsurers to seek to establish that they were not liable under a contract of reinsurance. …
Read More UK: Court of Appeal Rules ‘Follow the Settlements’ Clause Not Sufficient to Permit a Stay of Proceedings

We previously reported on AB 999. This bill revises the premium rate development process for long-term care insurance in order to address the dissatisfaction of policyholders with rate increases on in-force coverage.
Read More California Insurance Commissioner Dave Jones Has Sponsored Seven Bills That Have Been Enacted and Will Become Effective on January 1, 2013

The  Marcellus Shale Coalition will be hosting SHALE GAS INSIGHT™ 2012 at the Pennsylvania Convention Center in Philadelphia from Wednesday, September 19, through Friday, September 21.  Edwards Wildman attorneys Marc Voses, Tony Hopp, Len Kurfirst and Greg Hoffnagle will provide live updates throughout the conference at www.InsureReinsure.com and @EdwardsWildman on Twitter. …
Read More Edwards Wildman to Attend Premier Industry Fracking Conference in Philadelphia

October 10, 2012
Edwards Wildman Palmer LLP
225 West Wacker Drive, Suite 3000
Chicago, Illinois  60606

Edwards Wildman Speakers:  Chris Finney, Thomas F. Bush, Neil R. (“Nick”) Pearson, Theodore P. Augustinos, Brian J. Green, Brent R. Austin, Patrick J. Gennardo…
Read More Half-Day Insurance and Reinsurance Seminar

This updates our June 12, 2012 blog posting.

The California State Legislature has unanimously passed SB 1216 and SB 1448, both of which follow model laws recently put forth by the National Association of Insurance Commissioners (“NAIC”). …
Read More UPDATE: California State Legislature Approves NAIC Model Laws Regarding Enterprise Risk and Collateral Reduction for Alien Reinsurers; Bills with Governor for Signature

On June 4, 2012, Connecticut Governor Dannel P. Malloy signed into law Public Act 103 and Public Act 139, both of which follow model laws recently put forth by the National Association of Insurance Commissioners (“NAIC”). …
Read More Connecticut Enacts NAIC Model Laws Regarding Enterprise Risk and Collateral Reduction for Alien Reinsurers