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Results: 1-10 of 410

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

Connecticut Federal Court: multiple unfair practices in the handling of a single insurance claim do not constitute a “general business practice”

  • Locke Lord LLP
  • -
  • USA
  • -
  • August 7 2009

The United States District Court for the District of Connecticut recently granted in part an insurer’s motion to dismiss on the basis that the insured could not prove a violation of the Connecticut Unfair InsuranceTrade Practices Acts because allegations of multiple unfair practices in dealing with a single insurance claim are not sufficient to constitute a "general business practice

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

Louisiana insureds petition the U.S. Supreme Court to review a Fifth Circuit decision vacating that portion of Katrina-related judgment that awarded penalties, damages and attorneys’ fees based on an insurer's alleged bad faith

  • Locke Lord LLP
  • -
  • USA
  • -
  • October 26 2009

On July 21, 2009, Judy and Michael Kodrin filed a petition for a writ of certiorari in the U.S. Supreme Court, asking the Supreme Court to review a Fifth Circuit decision vacating that portion of a Katrina-related judgment that awarded them penalties, damages and attorneys’ fees based on their homeowners insurer’s alleged bad faith

Southern District grants motion to dismiss in F-Cubed securities class action

  • Locke Lord LLP
  • -
  • USA
  • -
  • November 9 2009

On October 5, 2009, the U.S. District Court for the Southern District of New York granted the defendants' motion to dismiss in Cornwell v. Credit Suisse on subject matter jurisdiction grounds

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

Lloyds TSB Bank settles with OFAC

  • Locke Lord LLP
  • -
  • USA
  • -
  • December 23 2009

On December 22, 2009, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced the settlement of apparent violations by Lloyds TSB Bank of OFAC regulations relating to Iran, Sudan and Libya

Federal court confirms foreign arbitration award, even though appeal of award in foreign jurisdiction was pending

  • Locke Lord LLP
  • -
  • USA
  • -
  • December 15 2009

Plaintiff China National Chartering Corp. (“CNCC”) petitioned the U.S. District Court for the Southern District of New York to confirm an arbitration award rendered in its favor against defendant Pactrans Air & Sea, Inc. (“Pactrans”) by the China Maritime Arbitration Commission (“CMAC”