We’ll Drink to That… Not So Fast?
Although there are still 9 active wildfires in California’s wine country, Cal-Fire anticipates that nearly all of these will be fully contained by the end of this week.
Read MoreTopic: Reinsurance
A Beacon in the Night Sheds New Light
Since the Bellefonte decision (Bellefonte Reinsurance Co. v. Aetna Casualty & Surety Co., 903 F.2d 910 (2nd. Cir. 1990) (”Bellefonte”) in 1990, the limits of coverage provided by facultative certificates have been pretty well defined, but cases over the last couple of years have challenged that assumption, with varying results.
Read MoreFIRING On All Cylinders
The wildfires raging in Northern California are already the worst in the state’s history. The risk of cataclysmic fires is greater in Southern California, but the elements (fierce winds, high temperatures, and low humidity) conspired to create this conflagration.
Read MoreLocke Lord QuickStudy: UPDATE: US and EU Negotiate Covered Agreement on Insurance and Reinsurance Regulation
As discussed in our prior QuickStudy issued on January 18, 2017, the US Federal Government and the European Union have come to an agreement on wide-ranging changes to reinsurance and establishment standards for the operation of insurance enterprises operating from one to another of these markets.
Read MoreInsurance and Reinsurance Newsletter – September 2017
Locke Lord’s Insurance & Reinsurance Newsletter provides topical snapshots of recent developments in the fast-changing world of insurance. For further information on any of the subjects covered in the newsletter, please contact one of the members of our Insurance team.
Read MoreLondon Direct and Facultative Market Affected by Harvey
Hurricane Harvey has caused significant exposure for those owning habitational accounts in London’s direct and facultative (“D&F”) market. Habitational coverage insures commercial residential properties, and each habitational account could cover hundreds of properties.
Read MoreHarvey’s Slow Pace May Spur Reinsurance Disputes over “Hours” Clauses
The residents of Texas and Louisiana have begun to assess the scope of damage caused by Hurricane Harvey. On August 25, 2017, the storm made landfall near Rockport, Texas, as a Category 4 Hurricane.
Read MoreHurricane Harvey Cripples Parts of Texas; Insurers Prepare for Billions in Claims
Hurricane Harvey made landfall in Texas Friday as the strongest hurricane to hit the United States in a decade, leaving several people dead and tens of thousands more displaced.
Read MoreWith Hurricane Harvey Looming, Insurance and Reinsurance Issues Lurk in the Wings
As Hurricane Harvey barrels towards the Gulf, residents of Louisiana and Texas are scrambling to avoid a storm that forecasters currently predict will bring winds of over 110 miles per hour and dangerous flooding.
Read MoreYou don’t need a weather man to know which way the wind blows* (*Bob Dylan)
Dave Jones, California Insurance Commissioner took an aggressive stand on Climate Change in a Press Release issued June 21, 2017, stating that if any “…climate denying politicians of red states who threaten to sue me, I will...
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