The California State Senate 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 California Senate Advances NAIC Model Laws Regarding Enterprise Risk and Collateral Reduction for Alien Reinsurers
Reinsurance
EDWARDS WILDMAN NEW YORK SEMINAR: 11th Annual Half-Day Insurance and Reinsurance Seminar – Wednesday, June 13, 2012
By Troutman Pepper Locke on
Posted in Reinsurance, United States
June 13, 2012
Edwards Wildman Palmer LLP
750 Lexington Avenue
New York, New York 10022
Edwards Wildman Speakers: Thomas F. Bush, Mark Everiss, E. Paul Kanefsky, Vincent J. Vitkowsky, Laurie A. Kamaiko, Brian J. Green, Neil R. (“Nick”) Pearson, Brent R. Austin, Patrick J. Gennardo
…
Read More EDWARDS WILDMAN NEW YORK SEMINAR: 11th Annual Half-Day Insurance and Reinsurance Seminar – Wednesday, June 13, 2012
California Legislation Relaxing Credit for Reinsurance Collateral Requirements Continues to Advance
By Troutman Pepper Locke on
California’s Senate Insurance Committee recently approved in a unanimous vote SB 1216 (the “Bill”). …
Read More California Legislation Relaxing Credit for Reinsurance Collateral Requirements Continues to Advance
Join the U.S. Re under 40s on Thursday in New York
By Troutman Pepper Locke on
The next Re Under 40s Group event is this Thursday at the 13th Step. Click here for more details about the event and RSVP information. See you there! …
Read More Join the U.S. Re under 40s on Thursday in New York
Obama’s 2013 Budget Proposes Tax on Excess Reinsurance Premiums to Offshore Affiliates Again
President Obama’s recently released Budget of the U.S. Government for the Fiscal Year 2013 (the “Proposed 2013 Budget”) would disallow the current deduction for non-taxed reinsurance premiums paid to foreign-affiliates by U.S. insurance companies. …
Read More Obama’s 2013 Budget Proposes Tax on Excess Reinsurance Premiums to Offshore Affiliates Again
UK: Motor Insurers’ Bureau Cannot Guarantee Future Unsatisfied Payments of Road Traffic Accident Damages
By Troutman Pepper Locke on
In Anthony Nathaniel Bennett v. Leonard John Stephens and Zenith Insurance Company [2012] EWHC 1 (QB), the Court was asked to consider the effect of a consent order (the Consent Order) between the parties and the reinsurer of Zenith, Faraday Underwriting Ltd (Faraday). …
Read More UK: Motor Insurers’ Bureau Cannot Guarantee Future Unsatisfied Payments of Road Traffic Accident Damages
UK: Court of Appeal Confirms Order of Attachment in Insurance Tower With Top and Drop Policy
By Troutman Pepper Locke on
Posted in Reinsurance, United Kingdom
The Court of Appeal has confirmed that the wording of a “top and drop” excess insurance policy did not affect the order in which liability attaches under a tower of insurance. …
Read More UK: Court of Appeal Confirms Order of Attachment in Insurance Tower With Top and Drop Policy
Reminder: Join the U.S. Re Under 40s Group for a Drink on January 26 in New York
By Troutman Pepper Locke on
The next U.S. Re Under 40s Group event will take place on January 26 at Three Sheets Saloon at 134 West 3rd Street (between 6th Avenue and MacDougal Street). The event will start at 5:30 and there will be an open bar between 6:00 and 7:00. Click here for more information and to RSVP. …
Read More Reminder: Join the U.S. Re Under 40s Group for a Drink on January 26 in New York
Join the U.S. Re Under 40s Group for a Drink on January 26 in New York
By Troutman Pepper Locke on
The next U.S. Re Under 40s Group event will take place on January 26 at Three Sheets Saloon at 134 West 3rd Street (between 6th Avenue and MacDougal Street). The event will start at 5:30 and there will be an open bar between 6:00 and 7:00. Click here for more information and to RSVP. …
Read More Join the U.S. Re Under 40s Group for a Drink on January 26 in New York
UK: In the Absence of Special Circumstances Silence and Inaction Cannot Constitute Unequivocal Representations
By Troutman Pepper Locke on
Posted in Reinsurance, United Kingdom
In the case of Liberty Insurance Pte Ltd & ANOR v Argo Systems FZE [2011] EWCA Civ 1572 it was held that the judge at first instance had erred in concluding that Liberty (the appellant insurer) had made an unequivocal representation to Argo (the insured) that it no longer intended to rely on its legal right to be discharged from liability under a policy of marine insurance as a result of Argo’s breach of a warranty. …
Read More UK: In the Absence of Special Circumstances Silence and Inaction Cannot Constitute Unequivocal Representations