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Results: 1-10 of 228

New York State Court denies motion to compel discovery of reinsurance and reserve information

  • Locke Lord LLP
  • -
  • USA
  • -
  • July 29 2010

In Mt. McKinley Ins. Co. v. Corning Inc., 2010 NY Slip Op 20235 (N.Y. Sup. Ct. June 14, 2010), an insured (“Corning”) moved to compel discovery of reinsurance and reserve information from its insurers, arguing that this information was relevant, material and necessary to its coverage claim

In private letter ruling, IRS says captive reinsurance of fronted pools is “insurance” for tax purposes

  • Locke Lord LLP
  • -
  • USA
  • -
  • January 4 2010

The Internal Revenue Service (IRS) issued a private letter ruling on December 11, 2009, resolving a taxpayer’s question as to whether its business as a captive reinsurer is "insurance" for tax purposes

ERISA litigation: an update from the ALI-ABA conference on financial and insurance litigation

  • Locke Lord LLP
  • -
  • USA
  • -
  • July 21 2010

ERISA litigation, once considered a dull backwater of the law, has been gaining increased interest and attention in recent years: the result of an aging population and an increasingly sophisticated and aggressive plaintiffs' bar

Oklahoma federal court holds claim for misrepresentations in home sale not covered by homeowners’ liability policy

  • Locke Lord LLP
  • -
  • USA
  • -
  • January 6 2010

The United States District Court for Oklahoma recently ruled that homeowners’ liability policies (primary and excess) did not cover a homebuyer’s lawsuit against the insured sellers for misrepresenting the condition of the home’s fireplaces

Presentation by Eithne McCarthy - the new Insurance Block Exemption Regulation

  • Locke Lord LLP
  • -
  • USA
  • -
  • April 22 2010

Eithne McCarthy, from the Financial Services Unit of the European Commission's Competition Directorate General (DG Comp), made a presentation on the new Insurance Block Exemption Regulation (BER) to the Law Society's Competition Section on 13 April 2010

Circular letter regarding contract certainty issued for comment by the New York Insurance Department

  • Locke Lord LLP
  • -
  • USA
  • -
  • January 14 2010

The New York Insurance Department (the “Department”) recently issued a draft Supplement No. 1 to Circular Letter No. 20 (2008) (“CL No. 20”) regarding insurance contract certainty for propertycasualty insurance policies and reinsurance contracts

Chinese drywall first bellwether trial ongoing

  • Locke Lord LLP
  • -
  • USA
  • -
  • March 9 2010

The first federal trial in the nationwide Chinese drywall controversy began on February 19th, 2010 in New Orleans and is ongoing

New York adopts revisions to Regulation 118 governing audited financial statements

  • Locke Lord LLP
  • -
  • USA
  • -
  • January 12 2010

On December 28, 2009, the New York Insurance Department ("NYID") issued a Notice of Emergency adoption revising Regulation 118 to implement new audit and reporting standards on an emergency basis

National Flood Insurance Program may be reinstated this week

  • Locke Lord LLP
  • -
  • USA
  • -
  • April 14 2010

The National Flood Insurance Program (the "NFIP") expired March 28, 2010

Health care legislation imposes tax on annuity income

  • Locke Lord LLP
  • -
  • USA
  • -
  • April 26 2010

The Health Care and Reconciliation Act (the "Act"), signed into law on March 30, 2010, imposes a tax on annuity income to help pay for the multi-billion dollar reform package set forth in both the Act and the Patient Protection and Affordable Care Act, signed into law on March 23, 2010