On December 22, 2017, the President signed into law H.R. 1, known generally as the Tax Cuts and Jobs Act (the “TCJA”), which makes widespread changes to the Internal Revenue Code.
Read MoreCalifornia’s reinsurance regulations (Cal. Code Regs. tit. 10, §§ 2303 – 2303.29) were amended effective the first of this year. The revisions included changes to update the regulations to comport with current law and current Department of Insurance practice.
Read MoreA Cornhusker by birth, I’ve always had a special affinity for Nebraska, and particularly Omaha, where I was raised. My only regret is that I was neither old nor rich enough to participate in Mr.Buffet’s original partnership.
Read MoreLocke 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 MoreIn Golon, Inc. v. Selective Insurance Company of the Southeast, et al., a Pennsylvania federal court recently held that an insurer must produce information about its reinsurance program in an action in which the insured plaintiff alleged its insurer engaged in bad faith in refusing to settle an underlying negligence case. The underlying case involved a motor vehicle accident resulting in the death of a child in which the insured’s employee pled guilty to vehicular homicide.
Read MoreThe wine country wildfires of October 2017 are expected to have caused greater losses than any other in U.S. history. AON Benfield predicts that on an aggregated basis, “this is costliest insured wildfire event ever recorded.”
Read MoreAlthough 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 MoreSince 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 MoreThe 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 MoreAs 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 More
