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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
Ninth Circuit affirms ruling that reinsurer has no duty to contribute to settlement payment where reinsured excess policy was not triggered
- Edwards Wildman Palmer LLP
- -
- USA
- -
- July 2 2010
Texas Farmers Insurance Company ("Texas Farmers") issued claims-made insurance policies (transformed into occurrence-based policies through endorsement) to Kaiser Permanente, a medical facility, for the policy periods of 4999-4900, 4900-4901, and 4901-4902
House passes surplus lines and reinsurance reform bill
- Edwards Wildman Palmer LLP
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- USA
- -
- September 10 2009
On September 9, 2009, the U.S. House of Representatives passed the Non-admitted and Reinsurance Reform Act of 2009, H.R. 2571 (the “NRRA”), marking the third time the House has passed a version of the NRRA
AIRROC launches expedited binding arbitration procedure for small claims
- Edwards Wildman Palmer LLP
- -
- USA
- -
- October 9 2009
The Association of Insurance and Reinsurance Run-Off Companies ("AIRROC") has announced the formal launch of the Dispute Resolution Procedure ("DRP"), an expedited binding arbitration procedure especially designed for small and less-complicated claims
Third Circuit holds that professional services exclusion in general liability policy applies to all allegations arising out of architect’s work and insurers had no duty to defend
- Edwards Wildman Palmer LLP
- -
- USA
- -
- January 6 2010
The Court of Appeals for the Third Circuit, applying New Jersey law, recently held that all claims against an insured architectural firm arising out of the firm’s architectural work on a parking garage that later collapsed are not covered under its general liability policies due to professional services exclusions
N.Y. Insurance Department issues opinion prohibiting contingent annuity contracts
- Edwards Wildman Palmer LLP
- -
- USA
- -
- July 29 2009
Last month, the New York Insurance Department’s Office of General Counsel issued Opinion No. 09-06-11 (the “Opinion”) which prohibits contingent annuity contracts on the grounds that such contracts constitute an impermissible form of financial guaranty insurance
Presentation by Eithne McCarthy - the new Insurance Block Exemption Regulation
- Edwards Wildman Palmer 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
Connecticut Appellate Court affirms summary judgment holding that insurer had no duty to defend or indemnify its insured in negligence claim brought by stabbing victim
- Edwards Wildman Palmer LLP
- -
- USA
- -
- January 25 2010
The Connecticut Appellate Court recently affirmed a trial court’s summary judgment holding that an insurance company had no duty to defend or indemnify its insured in a negligence action brought by a women who was stabbed twenty-four times by the insured
D&O insurers seek relief from automatic stay in order to assert coverage defense counterclaims against investment firm insureds
- Edwards Wildman Palmer LLP
- -
- USA
- -
- August 7 2009
Two D&O insurers have asked the U.S. Bankruptcy Court for the District of Minnesota to lift an automatic stay in a bankruptcy proceeding pending against their insureds so that the insurers can pursue their coverage defenses as counterclaims against the insureds in a pending declaratory judgment action
Delaware Supreme Court: under certain circumstances, a D&O insurer may reasonably withhold its consent to settle
- Edwards Wildman Palmer LLP
- -
- USA
- -
- September 17 2009
In an August 10, 2009 decision, the Delaware Supreme Court held that under certain circumstances, a D&O insurer may reasonably withhold its consent to settle a claim
Current Search
- Jurisdiction - USA
- Author - Jeanne Kohler
- Author - M Machua Millett
- Workarea - Insurance & Reinsurance