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Results: 1-10 of 524

Legal expenses insurance must comply with insured's freedom to choose lawyer under EU directive

  • Edwards Wildman Palmer LLP
  • -
  • European Union, United Kingdom
  • -
  • July 30 2010

On 19 July 2010, the FSA sent a letter to UK insurance firms reminding them of the requirement that terms in legal expenses insurance must not detract from, or qualify in any way, an insured's freedom to choose a lawyer

Hong Kong: yuan liberalisation boosts insurers

  • Edwards Wildman Palmer LLP
  • -
  • China, Hong Kong
  • -
  • July 29 2010

On 20 July 2010, the Hong Kong Special Administrative Region and Beijing signed an historic agreement allowing Hong Kong to become the first yuan clearing centre outside mainland China

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

  • Edwards Wildman Palmer 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

California insurers divest $400 million in Iran-related assets

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • July 28 2010

California Insurance Commissioner Steve Poizner announced on July 1, 2010 that insurers in his state had sold about 20 of the assets the industry holds in the 50 companies that the California Department of Insurance ("CDI") has identified as doing business with Iran's nuclear, energy and defense sectors

German government opposes US legislation limiting deductibility of reinsurance premiums

  • Edwards Wildman Palmer LLP
  • -
  • Germany, USA
  • -
  • July 28 2010

Proposed legislation that would limit a tax deduction for reinsurance premiums paid to a foreign affiliate of a US insurer has drawn the formal opposition of the German government

Government proposes to establish independent insurance authority

  • Edwards Wildman Palmer LLP
  • -
  • Hong Kong
  • -
  • July 28 2010

On 12 July 2010 the Secretary for Financial Services and the Treasury, Professor K C Chan, released a consultation paper entitled "Proposed Establishment of an Independent Insurance Authority"

Iran's shipping industry suffers as foreign insurers withhold coverage

  • Edwards Wildman Palmer LLP
  • -
  • Iran
  • -
  • July 28 2010

According to a recent article in the Washington Post, "Tehran's ability to ship vital goods has been significantly curtailed as some of the world's most powerful Western insurance companies cut off Iranian shippers out of fear that they could run afoul of U.S. laws, the insurers say."

New York Insurance Department to hold hearing on August 20, 2010 on whether to expand the Export List under Regulation 41

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • July 28 2010

A public hearing on August 20, 2010 will explore the possibility of increasing insurance capacity in New York by easing access to unauthorized insurers

Federal Court Orders Party to Produce Copies of its Reinsurance Agreements Under Fed. R. Civ. P. 26

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • July 27 2010

Plaintiff moved to compel production of defendant American Red Cross' reinsurance agreements

Federal regulation of the insurance industry: we are living in interesting times

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • July 27 2010

The week of July 19, 2010 was an interesting week for the insurance industry with developments affecting the industry as a whole and a proposal to regulate life settlements as securities at the federal level

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