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Ninth Circuit Court of Appeals reverses summary judgment and holds against insurer in bad faith action related to uninsured motorist claim
- Edwards Wildman Palmer LLP
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- USA
- -
- August 27 2009
The Ninth Circuit Court of Appeals recently reversed an award of summary judgment that had been in favor of an insurer in a bad faith action regarding an uninsured motorist claim, and found against the insurer
Reinsurer’s motion to seal documents related to arbitration granted by Pennsylvania court
- Edwards Wildman Palmer LLP
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- USA
- -
- August 27 2009
Republic Western Insurance Company ("Republic") reinsured certain workers’ compensation policies issued by Reliance Insurance Company
District of Columbia appoints new Commissioner
- Edwards Wildman Palmer LLP
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- USA
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- September 2 2009
On August 28, 2009, the District of Columbia Department of Insurance, Securities and Banking (“DISB”) issued a press release announcing that Thomas E. Hampton has stepped down as Commissioner of the DISB
White House proposes SEC registration and oversight of private equity, venture capital and hedge fund advisors
- Edwards Wildman Palmer LLP
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- USA
- -
- July 21 2009
The White House proposed legislation to Congress last week that would require investment advisors to private equity, venture capital and hedge funds with more than $30 million in assets under management to register with the Securities and Exchange Commission (SEC
NY appellate court: insurer’s disclaimer timely and proper despite lack of prejudice resulting from insured’s late notice of claim
- Edwards Wildman Palmer LLP
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- USA
- -
- July 22 2009
On July 10, 2009, the appellate division reversed the motion court’s ruling in Sevenson Envtl. Serrvices, Inc. v. Sirius Am. Ins. Co., Case No. 0226008 (4th Dept.), and held that (1) the insured’s 15-month delay in providing notice of the claim was unreasonable as a matter of law; (2) the insurer need not prove that it was prejudiced by the insured’s untimely notice to disclaim coverage; and (3) the insurer’s disclaimer of coverage on late notice grounds 24 days after receiving notice of the claim was timely as a matter of law
Treasury Department sends systemic risk regulation proposal to Congress, and other financial regulatory overhaul news
- Edwards Wildman Palmer LLP
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- USA
- -
- July 24 2009
On Wednesday, July 22, 2009, the Treasury Department sent draft legislation to Capitol Hill that would bring all financial firms under federal supervision and regulation, and would establish a new regulatory council the Financial Services Oversight Council to identify and manage emerging risks
The Florida Office of Insurance Regulation enters cooperation agreement with the United Kingdom’s financial regulator
- Edwards Wildman Palmer LLP
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- USA
- -
- July 24 2009
On Tuesday, July 21, 2009, the head of the Florida Office of Insurance Regulation ("FLOIR"), Commissioner Kevin McCarty, announced the signing of a memorandum of understanding ("MoU") with the United Kingdom Financial Services Authority ("FSA"), the United Kingdom’s regulator responsible for regulatory oversight of the insurance, banking and securities markets
New York State Insurance Department reminds licensees of compliance obligations under federal laws
- Edwards Wildman Palmer LLP
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- USA
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- July 28 2009
The New York State Insurance Department (the "Department") recently issued Circular Letter No. 11 to remind licensees of their obligations to comply with three federal laws: (i) the Bank Secrecy Act set forth in 31 U.S.C. 5311-5330 ("BSA"); (ii) the Foreign Corrupt Practices Act set forth in 15 U.S.C. 78dd-1-78dd-3 ("FCPA"); and (iii) requirements issued by the Office of Foreign Assets Control set forth in 31 U.S.C. 313(a)(6)(c) ("OFAC", collectively with BSA and FCPA, the "Federal Laws"
New District of Columbia laws to impact insurance coverage eligibility for same-sex marriages performed out of state
- Edwards Wildman Palmer LLP
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- USA
- -
- July 27 2009
In Washington, DC, two new laws were enacted this month that will impact insurance coverage eligibility in same-sex marriages performed out-of-state
D.C. Circuit remands Rule 151A to the SEC
- Edwards Wildman Palmer LLP
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- USA
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- July 29 2009
This updates our January 28, 2009 posting
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- Firm Name - Edwards Wildman Palmer LLP