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Reinsurer’s motion to seal documents related to arbitration granted by Pennsylvania court

Edwards Wildman Palmer LLP
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USA
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August 27 2009

Republic Western Insurance Company ("Republic") reinsured certain workers’ compensation policies issued by Reliance Insurance Company

New York reduces director requirements for domestic insurers

Edwards Wildman Palmer LLP
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USA
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September 11 2009

As of August 12 2009, in accordance with Chapter 293 of the Laws of New York 2009, the minimum number of directors required for New York domestic insurers has been reduced from thirteen to seven, and the minimum number of New York resident directors required for domestic insurers has been reduced from two to one

New compensation disclosure requirements proposed for New York insurance producers

Edwards Wildman Palmer LLP
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USA
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September 15 2009

After months of discussion with industry and consumer groups, the New York Insurance Department (the "Department") released yesterday proposed regulations creating an obligation on the part of insurers to disclose information about producer compensation to purchasers

Seventh Circuit rules that challenge to a replacement arbitrator must be made at the time of the appointment and not at the conclusion of the arbitration

Edwards Wildman Palmer LLP
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USA
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September 10 2009

In a recent decision from the United States Court of Appeals for the Seventh Circuit, WellPoint, Inc. v. John Hancock Life Ins. Co., No. 08-2283 (7th Cir. Aug. 7, 2009), the court ruled that a party seeking to challenge the appointment of a replacement arbitrator must do so at the time of the appointment or else lose its ability to make such a challenge

Eleventh Circuit affirms judgment in favor of contractor’s insurers, finding no bad faith

Edwards Wildman Palmer LLP
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USA
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September 10 2009

In Fidelity & Deposit Co., et al. v. Douglas Asphalt Co., et al., No. 09-10919 (11th Cir. Jul. 28, 2009), the Eleventh Circuit affirmed the District Court’s judgment in favor of the insurers, who sought to recover from their insured payments made under payment and performance bonds when the insured allegedly defaulted and failed to complete a project

Federal court rules that arbitration award satisfied final adjudication requirement in intentional acts and personal profit exclusions

Edwards Wildman Palmer LLP
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USA
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September 10 2009

Earlier this summer, the U.S. District Court for the Central District of California, Western Division held that an arbitrator's determination in an underlying claim triggered the intentional acts and personal profit exclusions in both a D&O and E&O policy

New Vermont Captive Insurance Association President

Edwards Wildman Palmer LLP
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USA
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September 16 2009

Following a nation-wide search, Michael Bemi, Chair of the Vermont Captive Insurance Association (the "VCIA") Board of Directors, recently announced that the VCIA has selected Richard Smith as the new President of the VCIA

Secondhand asbestos lawsuit settled after decision by Tennessee Supreme Court

Edwards Wildman Palmer LLP
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USA
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September 16 2009

As previously discussed here, and here, the estate of Amanda Satterfield brought suit against Alcoa for her death from mesothelioma at the age of 25

Court gives preliminary approval to Merrill Lynch's settlement of a subprime-related securities class action

Edwards Wildman Palmer LLP
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USA
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September 17 2009

As previously reported on August 8, 2007, a jury convicted ex-Brocade CEO Greg Reyes for violating federal securities laws by failing to properly account for backdated options

New York announces public hearing on life insurance and annuity sales practices

Edwards Wildman Palmer LLP
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USA
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September 15 2009

Yesterday, the New York State Insurance Department ("NYSID") issued a press release announcing that it will hold public hearing on Wednesday, September 16, regarding life insurance and annuity sales practices

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